Terry Smith portfolio
Fundsmith · 13F for Q2 2026, filed Aug 14, 2026
Fundsmith, Terry Smith's firm, reported 41 positions worth $13.6B as of Jun 30, 2026. The largest were Marriott International Inc (7.0%), Stryker Corp (6.7%) and Waters Corp (6.3%). Against Q1 2026: 13 new, 4 added to, 20 reduced, 6 sold out.
The filing on sec.gov · Every fund · What a 13F shows
- Reported value
- $13.6Bas of Jun 30
- Positions
- 4113 new, 6 sold out
- Largest position
- MAR7.0% of the portfolio
- Top 10 positions
- 52%of reported value
What Terry Smith bought
Largest 8 of 17| Position | Change | Value |
|---|---|---|
| UBERUBER Technologies, Inc | New | $645M |
| MAMastercard Inc | New | $639M |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | New | $548M |
| NFLXNetflix Inc | New | $499M |
| GEVGE Vernova Inc. | New | $481M |
| APPAppLovin Corp | New | $359M |
| TJXTJX Companies Inc | New | $344M |
| NXTNextpower Inc. | New | $340M |
UBERUBER Technologies, Inc
MAMastercard Inc
TSMTaiwan Semiconductor Manufacturing Co Ltd
NFLXNetflix Inc
GEVGE Vernova Inc.
APPAppLovin Corp
NXTNextpower Inc.What Terry Smith sold
Largest 8 of 26| Position | Change | Value |
|---|---|---|
| MTDMettler Toledo International Inc | Sold out | $717M |
| ZTSZoetis Inc. | Sold out | $458M |
| GOOGLAlphabet Inc. | −40.0% | $423M |
| PMPhilip Morris International Inc. | −43.0% | $398M |
| FTNTFortinet, Inc. | −41.0% | $388M |
| VVisa Inc. | −34.9% | $372M |
| WATWaters Corp | −29.2% | $352M |
| MARMarriott International Inc | −23.3% | $291M |
MTDMettler Toledo International Inc
ZTSZoetis Inc.
GOOGLAlphabet Inc.
PMPhilip Morris International Inc.
FTNTFortinet, Inc.
VVisa Inc.
WATWaters Corp
MARMarriott International IncEvery position, largest first
41 positions, Q2 2026| Position | Portfolio | Value | Change |
|---|---|---|---|
| MARMarriott International Inc | 7.02% | $958M | −23.3% |
| SYKStryker Corp | 6.72% | $917M | −4.8% |
| WATWaters Corp | 6.25% | $853M | −29.2% |
| VVisa Inc. | 5.08% | $693M | −34.9% |
| UBERUBER Technologies, Inc | 4.73% | $645M | New |
| MAMastercard Inc | 4.69% | $639M | New |
| GOOGLAlphabet Inc. | 4.64% | $634M | −40.0% |
| CHDChurch & Dwight Co Inc | 4.58% | $626M | −2.8% |
| PGPROCTER & GAMBLE Co | 4.38% | $598M | −2.9% |
| MSFTMicrosoft Corporation | 4.36% | $596M | −23.2% |
| METAMETA Platforms, Inc. | 4.34% | $593M | −20.4% |
| ADPAutomatic Data Processing Inc | 4.27% | $583M | −32.5% |
| FTNTFortinet, Inc. | 4.09% | $558M | −41.0% |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | 4.02% | $548M | New |
| IDXXIdexx Laboratories Inc | 3.93% | $537M | −30.4% |
| TXNTexas Instruments Inc | 3.93% | $536M | −31.4% |
| PMPhilip Morris International Inc. | 3.86% | $527M | −43.0% |
| NFLXNetflix Inc | 3.66% | $499M | New |
| GEVGE Vernova Inc. | 3.53% | $481M | New |
| APPAppLovin Corp | 2.63% | $359M | New |
| TJXTJX Companies Inc | 2.52% | $344M | New |
| NXTNextpower Inc. | 2.49% | $340M | New |
| VEEVVeeva Systems Inc | 1.06% | $145M | New |
| YUMYUM Brands Inc | 0.65% | $88.9M | New |
| MSCIMSCI Inc. | 0.22% | $30.0M | −17.3% |
PGPROCTER & GAMBLE Co
MSFTMicrosoft Corporation
METAMETA Platforms, Inc.
ADPAutomatic Data Processing Inc
IDXXIdexx Laboratories Inc
TXNTexas Instruments Inc
VEEVVeeva Systems Inc
YUMYUM Brands Inc
MSCIMSCI Inc.16 more positions
| Position | Portfolio | Value | Change |
|---|---|---|---|
| MEDPMedpace Holdings, Inc. | 0.20% | $27.7M | −16.4% |
| NTNXNutanix, Inc. | 0.20% | $27.4M | −6.8% |
| BMIBadger Meter Inc | 0.19% | $25.9M | +22.6% |
| CLXClorox Co | 0.19% | $25.9M | +5.5% |
| ROLRollins Inc | 0.19% | $25.9M | No change |
| MANHManhattan Associates Inc | 0.18% | $24.1M | +43.1% |
| NSSCNapco Security Technologies, Inc | 0.17% | $23.1M | +58.2% |
| FICOFair Isaac Corp | 0.16% | $21.4M | New |
| SABRSabre Corp | 0.14% | $18.8M | No change |
| IDCCInterDigital, Inc. | 0.13% | $17.1M | New |
| ORLYO Reilly Automotive Inc | 0.11% | $15.0M | New |
| VRTVertiv Holdings Co | 0.10% | $14.0M | — |
| VRSNVerisign Inc | 0.10% | $14.0M | −50.9% |
| ADMAADMA Biologics, Inc. | 0.10% | $13.8M | No change |
| DOCSDoximity, Inc. | 0.10% | $13.5M | −5.6% |
| PAYCPaycom Software, Inc. | 0.09% | $12.7M | −54.1% |
MEDPMedpace Holdings, Inc.
NTNXNutanix, Inc.
CLXClorox Co
ROLRollins Inc
MANHManhattan Associates Inc
FICOFair Isaac Corp
SABRSabre Corp
IDCCInterDigital, Inc.
ORLYO Reilly Automotive Inc
VRTVertiv Holdings Co
ADMAADMA Biologics, Inc.
DOCSDoximity, Inc.
PAYCPaycom Software, Inc.What a 13F shows
This is Fundsmith’s Form 13F for the quarter ended Jun 30, 2026, filed with the SEC on Aug 14, 2026 as Fundsmith LLP. A 13F lists long positions in US-listed securities on the quarter’s last day: shares, convertible bonds, puts and calls. It does not list short positions, cash, private holdings or most securities listed abroad, and a position may have changed since.
Options are shown as options, never added to the shares of the stock they are written on. A change is the share count against the fund's filing for Q1 2026; the estimated value of a change uses the price the filing's own figures imply. Where a count moved with a stock split, no change is shown.