# Fundsmith Long/Short Master Fund

> Institutional holdings reported to the SEC as of Q1 2021 on Form 13F. CIK 1813932. Source: https://holderbook.com/funds/1813932-fundsmith-long-short-master-fund/

- Reported value: $121.0M
- Positions: 29
- Weight of the ten largest: 44.7%
- Filed: 2021-05-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $6.1M | 40,987 | 5.0% | 2 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $5.8M | 48,457 | 4.8% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $5.8M | 19,710 | 4.8% | 2 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $5.6M | 51,011 | 4.6% | 2 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $5.5M | 41,153 | 4.5% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.3M | 22,517 | 4.4% | 2 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $5.1M | 10,700 | 4.2% | 2 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $5.0M | 18,200 | 4.2% | 2 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $5.0M | 73,375 | 4.2% | 2 |
| HEICO CORP NEW | [HEIA](https://holderbook.com/stocks/HEIA/) | $4.9M | 43,228 | 4.1% | 2 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $4.9M | 13,823 | 4.0% | 2 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $4.7M | 19,138 | 3.9% | 2 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $4.6M | 29,383 | 3.8% | 2 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $4.5M | 18,249 | 3.7% | 2 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $4.3M | 33,519 | 3.5% | 2 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $4.2M | 11,039 | 3.5% | 2 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $4.1M | 8,200 | 3.4% | 2 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $3.9M | 59,374 | 3.2% | 2 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $3.8M | 23,207 | 3.1% | 2 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $3.8M | 7,400 | 3.1% | 2 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $3.7M | 18,700 | 3.0% | 2 |
| LAUDER ESTEE COS INC | [EL](https://holderbook.com/stocks/EL/) | $3.0M | 10,243 | 2.5% | 2 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $2.8M | 25,807 | 2.3% | 2 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $2.8M | 12,229 | 2.3% | 2 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $2.7M | 3,616 | 2.2% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.5M | 8,313 | 2.1% | 2 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $2.4M | 6,717 | 2.0% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.2M | 10,534 | 1.8% | 2 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $2.1M | 11,656 | 1.7% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2021 | +0.8% | +6.0% | -5.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2021 | $121.0M | 29 |
| Q4 2020 | $122.2M | 29 |