Fundsmith Equity has sold out of long-term holding PepsiCo while taking a new position in a currently undisclosed company.
Terry Smith's £23.7bn flagship mandate exited its full PepsiCo stake in January 2025, as per the latest factsheet information. The fund had been invested in the stock for at least a decade and it held a top ten position over most of that time, according to disclosure records. Fundsmith Equity fund sells long-term holdings in Diageo and Apple in 2024 PepsiCo, which is the creator of the namesake soft drink, was highlighted back in Smith's 2023 semi annual letter to shareholders for its strong performance. However, by August 2024 it was among the fund's top five performance detrac...
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