Terry Smith - Fundsmith Portfolio
| Period Date | Mar 31, 2025 | |
| Filing Date | May 15, 2025 | |
| Total Stocks | 38 | |
| Portfolio Value | $21.97B |
Fundsmith Strategy Analysis
Investment Strategy Metrics
Key metrics revealing investment style, risk management, and performance characteristics
| Metric | Value | Category | Description |
|---|---|---|---|
| Holding Period | 4.1 years | Style | Average duration positions are maintained |
| Position Count | 52 | Style | Number of active positions in portfolio |
| Position Size | 3.8% | Risk | Typical allocation per position |
| Win Rate | 59.6% | Performance | Percentage of profitable positions |
| Average Return | 2702.9% | Performance | Mean return across positions |
| Sharpe Ratio | 0.17 | Performance | Return per unit of risk taken |
Investment Case Study: FACEBOOK (META)
3/31/2018 - 8/6/2025
Performance Metrics
Total Return: 118.46%
Holding Period: 2685 days
Max Position Size: $2,239,300.00
Position Weight: 6.40%
Key Events
3/31/2018: ENTRY(5,142,881.00 shares) @ $0.16
6/30/2018: INCREASE(374,922.00 shares) @ $0.19
9/30/2018: INCREASE(442,859.00 shares) @ $0.16
12/31/2018: INCREASE(132,177.00 shares) @ $0.16
3/31/2019: INCREASE(274,859.00 shares) @ $0.17
6/30/2019: INCREASE(107,359.00 shares) @ $0.19
9/30/2019: INCREASE(7,126.00 shares) @ $0.18
12/31/2019: INCREASE(106,103.00 shares) @ $0.21
3/31/2020: DECREASE(-154,425.00 shares) @ $0.17
6/30/2020: INCREASE(9,649.00 shares) @ $0.23
9/30/2020: DECREASE(-15,947.00 shares) @ $0.26
12/31/2020: DECREASE(-8,689.00 shares) @ $0.27
3/31/2021: INCREASE(14,774.00 shares) @ $0.29
6/30/2021: INCREASE(6,488.00 shares) @ $0.35
Investment Thesis
Entry Context: Initial position established based on fundamental analysis
Sector Conditions: Favorable market conditions in the sector
Risk Factors:
- Market volatility
- Sector-specific risks
Key Learnings
- Position sizing is critical for portfolio management
- Important to monitor sector exposure