The Fund seeks long-term growth in value by investing in listed equities on a global basis. Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities. The Fund will invest primarily in common stock of U.S. and non-U.S. listed companies of any size by pursuing its objective.

Waters Corporation

Stryker Corporation

Yum! Brands, Inc.

Mastercard Incorporated

Visa Inc.

Uber Technologies, Inc.

Church & Dwight Co., Inc.

Philip Morris International Inc.

Alphabet Inc.

Fundsmith Equity ETF

ETFT Holdings & Sector Breakdown