Fundsmith 13F Portfolio Q2 2025 Update

Fundsmith's Q2 2025 13F portfolio update shows significant changes, with new additions including Apple, Alphabet, and Microsoft. Notable positions decreased include Berkshire Hathaway, Unilever, and Reckitt Benckiser. The fund's top holdings now include Apple, Microsoft, and Alphabet, with a focus on tech stocks.

Title: Fundsmith's Q2 2025 13F Portfolio Update: Notable Changes and Focus on Tech Stocks

Fundsmith's Q2 2025 13F portfolio update reveals significant changes, including new additions and notable reductions in key positions. The fund's top holdings now reflect a strong focus on technology stocks, with Apple, Microsoft, and Alphabet taking prominent positions.

Key Changes and Additions

# New Additions
- Apple Inc. (AAPL): Apple was added to the portfolio this quarter, reflecting a strategic shift towards technology stocks.
- Alphabet Inc. (GOOG): Alphabet, the parent company of Google, was also added, further emphasizing the fund's tech focus.
- Microsoft Corp. (MSFT): Microsoft saw a significant increase in its position, becoming one of the top holdings in the portfolio.

# Notable Reductions
- Berkshire Hathaway Inc. (BRK.A): Berkshire Hathaway saw a reduction in its position, reflecting a strategic realignment.
- Unilever plc (UL): Unilever was sold, marking a significant change in the fund's holdings.
- Reckitt Benckiser Group plc (RB): Reckitt Benckiser was also reduced, signaling a shift away from consumer staples.

Top Holdings

The fund's top holdings now include:
1. Apple Inc. (AAPL): Apple is now a significant position in the portfolio, reflecting the fund's focus on technology.
2. Microsoft Corp. (MSFT): Microsoft remains a top holding, with a notable increase in its position.
3. Alphabet Inc. (GOOG): Alphabet's addition has bolstered the fund's tech holdings.

Portfolio Growth and Performance

Fundsmith's 13F portfolio value increased from $21.97 billion to $23.02 billion this quarter, with the number of holdings increasing from 38 to 39. The top three holdings account for approximately 30% of the portfolio, while the top five holdings account for close to 43%.

Conclusion

Fundsmith's Q2 2025 13F portfolio update demonstrates a strategic shift towards technology stocks, with notable additions and reductions in key positions. The fund's top holdings now reflect a strong focus on tech companies, signaling a potential realignment in investment strategy.

References
[1] https://seekingalpha.com/article/4817308-tracking-terry-smiths-fundsmith-13f-portfolio-q2-2025-update