Terry Smith

Fundsmith · 13F for the quarter to 30 June 2026, filed 14 August 2026

Portfolio: $13.6B
Stocks: 41
Largest: MAR

Portfolio

As of 30 June 2026. The change is in shares, against the 13F for 31 March 2026; a stock split is taken out. Read the 13F

Stock	Weight	Value	Shares	Change
MARMarriott	7.0%	$958.3M	2,585,757	-23%
SYKStryker Corporation	6.7%	$917.4M	2,913,833	-5%
WATWaters Corp	6.2%	$852.7M	2,273,632	-29%
VVisa	5.1%	$693.0M	2,019,810	-35%
UBERUber	4.7%	$645.3M	8,943,151	New position

Every holding and move is free with an account

Stock	Weight	Value	Shares	Change
MAMastercard	4.7%	$639.5M	1,245,051	New position
GOOGLAlphabet	4.6%	$633.7M	1,773,354	-40%
CHDChurch & Dwight Co Inc	4.6%	$625.5M	6,456,634	-3%
PGProcter & Gamble	4.4%	$598.1M	4,078,371	-3%
MSFTMicrosoft	4.4%	$595.6M	1,596,737	-23%
METAMeta	4.3%	$592.5M	1,051,876	-20%
ADPAutomatic Data Processing In	4.3%	$582.6M	2,601,567	-33%
FTNTFortinet	4.1%	$557.6M	3,629,938	-41%
TSMTaiwan Semiconductor Manufac	4.0%	$548.5M	1,148,449	New position
IDXXIdexx Labs Inc	3.9%	$536.9M	1,019,887	-30%
TXNTexas Instruments	3.9%	$536.3M	1,799,182	-31%
PMPhilip Morris International	3.9%	$527.1M	2,913,693	-43%
NFLXNetflix	3.7%	$499.1M	6,990,345	New position
GEVGE Vernova	3.5%	$481.5M	409,835	New position
APPAppLovin	2.6%	$358.9M	696,568	New position
TJXTJX Companies	2.5%	$344.3M	2,272,592	New position
NXTNextpower Inc	2.5%	$340.3M	2,856,092	New position
VEEVVeeva Sys Inc	1.1%	$145.0M	816,785	New position
YUMYum! Brands	0.7%	$88.9M	556,107	New position
MSCIMsci Inc	0.2%	$30.0M	53,580	-17%
MEDPMedpace Hldgs Inc	0.2%	$27.7M	52,372	-16%
NTNXNutanix Inc	0.2%	$27.4M	538,281	-7%
BMIBadger Meter Inc	0.2%	$25.9M	174,627	+23%
CLXClorox Co Del	0.2%	$25.9M	271,318	+5%
ROLRollins Inc	0.2%	$25.9M	619,935	Unchanged
MANHManhattan Associates Inc	0.2%	$24.1M	172,977	+43%
NSSCNapco Sec Technologies Inc	0.2%	$23.1M	606,974	+58%
FICOFair Isaac Corp	0.2%	$21.4M	17,953	New position
SABRSabre Corp	0.1%	$18.8M	9,013,783	Unchanged
IDCCInterdigital Inc	0.1%	$17.1M	60,324	New position
ORLYOreilly Automotive Inc	0.1%	$15.0M	162,691	New position
VRTVertiv	0.1%	$14.0M	41,893	-54%
VRSNVerisign Inc	0.1%	$14.0M	55,713	-51%
ADMAAdma Biologics Inc	0.1%	$13.8M	1,649,493	Unchanged
DOCSDoximity Inc	0.1%	$13.5M	653,324	-6%
PAYCPaycom Software Inc	0.1%	$12.7M	100,763	-54%

Moves since the 13F

Form 4 trades in companies where the firm is an insider, and Schedules 13D and 13G, filed once a stake passes 5%.

Nothing filed since the 13F.

Sold out during the quarter

Stock	Weight	Value	Shares
MTDMettler Toledo International	5.6%	$717.0M	568,516
ZTSZoetis Inc	3.6%	$458.4M	3,877,559
OTISOtis Worldwide Corp	1.6%	$210.6M	2,731,635
Catalyst Pharmaceuticals Inc	0.2%	$20.9M	844,887
QLYSQualys Inc	0.2%	$19.9M	226,077

Every holding and move is free with an account

Stock	Weight	Value	Shares
HDHome Depot	0.1%	$9.4M	28,611

Source: Form 13F, Form 4 and Schedules 13D and 13G filed with the SEC. A 13F lists US-listed shares only (no short positions, no cash, no holdings abroad); options and bonds are left out here. Values are at the quarter's end, as the firm reported them. Super investor portfolios