Fundsmith Long/Short Master Fund

CIK

1813932

Location

GRAND CAYMAN, E9

Portfolio Value

Small $104,984,557

Diversification

Diversified

Filing Date

Global Rank

#4,083 / 5,905 ▼ 78 · as of Mar 2021

Top Industry

Software - Application 14.5%

3Y Alpha vs SPY

-15.5%

Period ended 5 years ago

Filed May 14, 2021 · 5y

2 quarters · since Dec 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+16.8%

SPY

+76.5%

Annualised alpha

-15.6%

Max drawdown

−20.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

28 positions · as of Mar 31, 2021 · Δ vs Dec 31, 2020

Top Position

5.8%

+0.1 pts

Top 5

27.4%

−0.4 pts

Top 10

51.3%

−1.5 pts

HHI

425

Diversified−9

Portfolio Trend

2 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2021

Sector	% Portfolio	Value	Positions
Technology	25.7%	$26,968,389	7
Consumer Cyclical	24.5%	$25,711,641	6
Healthcare	18.7%	$19,662,754	5
Industrials	9.4%	$9,920,408	3
Financial Services	8.8%	$9,236,635	3
Consumer Defensive	6.5%	$6,789,997	2
Communication Services	5.5%	$5,805,186	1
Basic Materials	0.8%	$889,547	1

Last Quarter's Activity

Export CSV

Mar 31, 2021 vs Dec 31, 2020

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
APH	Amphenol Corp /De/	+29,732	59,374	$1,958,451
DEO	Diageo PLC	+224	23,207	$3,810,821
OTIS	Otis Worldwide Corp	+161	73,375	$5,022,518
SBUX	Starbucks Corp	+155	51,011	$5,573,971
ROST	Ross Stores, Inc.	+80	48,457	$5,810,478
NKE	NIKE, Inc.	+59	41,153	$5,468,822
WCN	Waste Connections, Inc.	+39	25,807	$2,786,639
MSFT	Microsoft Corp	+37	22,517	$5,308,833
A	Agilent Technologies, Inc.	+36	33,519	$4,261,605
HD	Home Depot, Inc.	+35	8,313	$2,537,543
SYK	Stryker Corp	+34	19,138	$4,661,634
ZTS	Zoetis Inc.	+31	29,383	$4,627,234
SPGI	S&P Global Inc.	+23	13,823	$4,614,685
EFX	Equifax Inc	+18	11,656	$2,111,251
EL	Estee Lauder Companies Inc	+13	10,243	$2,979,176
INTU	Intuit Inc.	+12	11,039	$4,228,599
V	Visa Inc.	+11	10,534	$2,230,363
DHR	Danaher Corp /De/	+8	12,229	$2,440,162
SHW	Sherwin Williams Co	+6	3,616	$889,547
MA	Mastercard Inc	+6	6,717	$2,391,587
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
SNPS	Synopsys Inc	−4,451	18,249	$4,521,737
MAR	Marriott International Inc /Md/	−2,508	40,987	$6,070,584
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

28 positions · $104,984,557 total · as of Mar 31, 2021

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MAR	Marriott International Inc /Md/ Consumer Cyclical	Reduced	40,987	-2,508	$6,070,584	+5.8%	5.78%
ROST	Ross Stores, Inc. Consumer Cyclical	Added	48,457	+80	$5,810,478	−2.2%	5.53%
META	Meta Platforms, Inc. Communication Services	Held	19,710	0	$5,805,186	+7.8%	5.53%
SBUX	Starbucks Corp Consumer Cyclical	Added	51,011	+155	$5,573,971	+2.5%	5.31%
NKE	NIKE, Inc. Consumer Cyclical	Added	41,153	+59	$5,468,822	−5.9%	5.21%
MSFT	Microsoft Corp Technology	Added	22,517	+37	$5,308,833	+6.2%	5.06%
ADBE	Adobe Inc. Technology	Held	10,700	0	$5,086,459	−4.9%	4.84%
ADSK	Autodesk, Inc. Technology	Held	18,200	0	$5,044,130	−9.2%	4.80%
OTIS	Otis Worldwide Corp Industrials	Added	73,375	+161	$5,022,518	+1.6%	4.78%
SYK	Stryker Corp Healthcare	Added	19,138	+34	$4,661,634	−0.4%	4.44%
ZTS	Zoetis Inc. Healthcare	Added	29,383	+31	$4,627,234	−4.7%	4.41%
SPGI	S&P Global Inc. Financial Services	Added	13,823	+23	$4,614,685	+7.5%	4.40%
SNPS	Synopsys Inc Technology	Reduced	18,249	-4,451	$4,521,737	−23.2%	4.31%
A	Agilent Technologies, Inc. Healthcare	Added	33,519	+36	$4,261,605	+7.4%	4.06%
INTU	Intuit Inc. Technology	Added	11,039	+12	$4,228,599	+1.0%	4.03%
DEO	Diageo PLC Consumer Defensive	Added	23,207	+224	$3,810,821	+4.4%	3.63%
ICLR	Icon PLC Healthcare	Held	18,700	0	$3,672,119	+0.7%	3.50%
EL	Estee Lauder Companies Inc Consumer Defensive	Added	10,243	+13	$2,979,176	+9.4%	2.84%
WCN	Waste Connections, Inc. Industrials	Added	25,807	+39	$2,786,639	+5.4%	2.65%
HD	Home Depot, Inc. Consumer Cyclical	Added	8,313	+35	$2,537,543	+15.4%	2.42%
DHR	Danaher Corp /De/ Healthcare	Added	12,229	+8	$2,440,162	+1.4%	2.32%
MA	Mastercard Inc Financial Services	Added	6,717	+6	$2,391,587	−0.2%	2.28%
V	Visa Inc. Financial Services	Added	10,534	+11	$2,230,363	−3.1%	2.12%
EFX	Equifax Inc Industrials	Added	11,656	+18	$2,111,251	−5.9%	2.01%
APH	Amphenol Corp /De/ Technology	Added	59,374	+29,732	$1,958,451	+102.1%	1.87%
SHW	Sherwin Williams Co Basic Materials	Added	3,616	+6	$889,547	+0.6%	0.85%
NOW	ServiceNow, Inc. Technology	Held	8,200	0	$820,180	−9.1%	0.78%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Held	7,400	0	$250,243	+12.1%	0.24%