Todor Kostov's avatar
$5.4m follower assets
Fundsmith Equity Fund - Annual Letter 2022
Fundsmith Equity Fund Annual Letter 2022 has just been published.

The fund is down 13.8% for 2022 FY and up 478.2% since inception (1st Nov 2010).

Bottom 5 detractors from the performance were:


Top 5 contributors were:

  • Novo Nordisk $NVO +2.1%
  • Philip Morris $PM +1.1%
  • PepsiCo $PEP +0.7%
  • ADP $ADP +0.5%
  • Mettler-Toledo +0.4%



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Source: Fundsmith Equity Fund - Annual Letter 2022

Dave Ahern's avatar
Love his letters, thanks for sharing 🙏
StockOpine's avatar
Thanks for sharing Todor.
Todor Kostov's avatar
@stockopine 🙏
Joey Hirendernath's avatar
Gotta love the simplicity and elegance of the three step strategy and how Terry Smith ends the letter with a Churchill quote. Very fitting for the climate. Thanks for sharing Todor!
Todor Kostov's avatar
@joeyhirendernath Pleasure, Joey 🙂
The Thinking Investor's avatar
His letters are a great source of wisdom. I’ve applied many lessons of his to my own portfolio. Thanks for sharing.
Todor Kostov's avatar
@thethinkinginvestor For sure! Great person as well, Mr. Terry Smith.
Nathan Worden's avatar
I learned a new word from this letter: triskaidekaphobia (extreme superstition regarding the number thirteen)
Todor Kostov's avatar
@nathanworden He knows how to engage the audience 🙂

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