Zoetis Inc.
US ˙ NYSE ˙ US98978V1035

SecurityZTS / Zoetis Inc.
InstitutionFundsmith LLP
ManagerTerry Smith
Latest Disclosed Ownership3,877,559 shares
Latest Disclosed Value $ 458,366,249
Fundsmith LLP reports 0.60% decrease in ownership of ZTS / Zoetis Inc.

On May 15, 2026 - Fundsmith LLP filed a 13F-HR form disclosing ownership of 3,877,559 shares of Zoetis Inc. (US:ZTS) valued at $458,366,249 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 3,900,803 shares of Zoetis Inc.. This represents a change in shares of -0.60% during the quarter. The current value of the position is $308,343,492 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F ZOETIS CL A 98978V103 3,877,559 -23,244 -0.60 458,366 -6.61 3.5732
2026-02-17 2025-12-31 13F ZOETIS CL A 98978V103 3,900,803 285,672 7.90 490,799 -7.22 2.8675
2025-11-14 2025-09-30 13F ZOETIS CL A 98978V103 3,615,131 730,300 25.32 528,966 17.58 2.6722
2025-08-14 2025-06-30 13F ZOETIS CL A 98978V103 2,884,831 338,344 13.29 449,889 7.30 1.9546
2025-05-15 2025-03-31 13F ZOETIS CL A 98978V103 2,546,487 2,319,158 1,020.18 419,279 1,032.02 1.9080
2025-02-14 2024-12-31 13F ZOETIS CL A 98978V103 227,329 -3,397 -1.47 37,039 -17.84 0.1579
2024-11-14 2024-09-30 13F ZOETIS CL A ORD CL A 98978V103 230,726 2,521 1.10 45,079 13.95 0.1783
2024-08-14 2024-06-30 13F ZOETIS CL A ORD CL A 98978V103 228,205 -600 -0.26 39,562 2.18 0.1612
2024-05-15 2024-03-31 13F ZOETIS CL A ORD CL A 98978V103 228,805 2,741 1.21 38,716 -13.23 0.1515
2024-02-14 2023-12-31 13F ZOETIS CL A ORD CL A 98978V103 226,064 3,261 1.46 44,618 15.10 0.1868
2023-11-14 2023-09-30 13F ZOETIS CL A ORD CL A 98978V103 222,803 417 0.19 38,763 1.22 0.1761
2023-08-14 2023-06-30 13F ZOETIS CL A ORD CL A 98978V103 222,386 -2,923 -1.30 38,297 2.13 0.1607
2023-05-15 2023-03-31 13F ZOETIS CL A ORD CL A 98978V103 225,309 1,353 0.60 37,500 14.26 0.1618
2023-02-14 2022-12-31 13F ZOETIS CL A ORD CL A 98978V103 223,956 771 0.35 32,821 -0.83 0.1499
2022-11-14 2022-09-30 13F ZOETIS CL A ORD CL A 98978V103 223,185 1,132 0.51 33,096 -13.29 0.1571
2022-08-15 2022-06-30 13F ZOETIS CL A ORD CL A 98978V103 222,053 1,625 0.74 38,169 -8.18 0.1684
2022-05-16 2022-03-31 13F ZOETIS CL A ORD CL A 98978V103 220,428 -43,186 -16.38 41,571 -35.38 0.1428
2022-02-14 2021-12-31 13F ZOETIS CL A 98978V103 263,614 23,112 9.61 64,330 37.78 0.1570
2021-11-12 2021-09-30 13F ZOETIS CL A 98978V103 240,502 19,947 9.04 46,691 13.60 0.1291
2021-08-13 2021-06-30 13F ZOETIS CL A 98978V103 220,555 8,348 3.93 41,103 23.00 0.1139
2021-05-14 2021-03-31 13F ZOETIS CL A 98978V103 212,207 91,204 75.37 33,418 66.87 0.1063
2021-02-12 2020-12-31 13F ZOETIS CL A 98978V103 121,003 121,003 20,026 0.0664
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.