To new subscribers who came here for Fundsmith-related content via the FT, we publish a monthly “Fund Manager Comments” newsletter in the second/third weekend of each month, highlighting comments by leading fund managers (including Fundsmith, of course). This Substack is 80% single-stock research, but a number of those stocks are also Fundsmith holdings; I hope even those of you who only invests in funds find it worthwhile to stay around.
Summary
This is the June version of our "Monthly Ranked Top Buys“ series, designed to facilitate regular reviews of our selection of most-preferred stocks. As of June 4, our illustrative “Select 15” portfolio has gained 12.2% since its inception at the start of the year, and is shown in the table below (in descending order of size):
We have done well year-to-date. Within the current portfolio, 6 stocks have unrealised gains in double-digit percentages, 4 of which are in our top 5 holdings; in addition, we had realised gains of 44% in Meta Platforms (exi…