Terry Smith Portfolio: Fundsmith 13F Holdings
Managed by Terry Smith
Positions as of Q2 2026 (quarter ended Jun 30, 2026), filed with the SEC on Aug 14, 2026.
Fundsmith LLP is the London investment manager Terry Smith founded in 2010, where he is chief executive and chief investment officer. This page covers the 13F filed by Fundsmith LLP; its Mauritius affiliate, Fundsmith Investment Services Ltd, files a separate 13F that is not included here.
13F holdings as of Jun 30, 2026
Source: Fundsmith Form 13F-HR for Q2 2026, filed Aug 14, 2026, on SEC EDGAR. See our Methodology.
What did Fundsmith buy and sell in Q2 2026?
Compared with its Q1 2026 filing, Fundsmith reported 13 new positions, added to 4, reduced 21 and sold out of 6. Changes are measured in shares, so a position can rise in value without being added to.
New positions
Top 6Added to
Top 4Reduced
Top 6Top 10 holdings and concentration
Q2 2026The ten largest positions make up 52.5% of the $13.65B reported in long positions, led by MAR at 7.0%.
Sector allocation
Q2 2026Share of the $13.65B reported, by the sector of each stock.
| Sector | Weight | Positions |
|---|---|---|
| Technology | 24.7% | 13 |
| Healthcare | 18.4% | 7 |
| Communication Services | 15.3% | 4 |
| Consumer Staples | 13.0% | 4 |
| Consumer Discretionary | 10.5% | 5 |
| Financials | 10.0% | 3 |
| Industrials | 8.1% | 4 |
Fundsmith 13F holdings, Q2 2026
All 41 positions| # | Company | Shares | Value | Weight | vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | MARMARRIOTT INTL INC NEW | 2.59M | $958.26M | 7.02% | -23% |
| 2 | SYKSTRYKER CORPORATION | 2.91M | $917.39M | 6.72% | -5% |
| 3 | WATWATERS CORP | 2.27M | $852.70M | 6.25% | -29% |
| 4 | VVISA INC | 2.02M | $692.98M | 5.08% | -35% |
| 5 | UBERUBER TECHNOLOGIES INC | 8.94M | $645.34M | 4.73% | NEW |
| 6 | MAMASTERCARD INCORPORATED | 1.25M | $639.46M | 4.69% | NEW |
| 7 | GOOGLALPHABET INC | 1.77M | $633.74M | 4.64% | -40% |
| 8 | CHDCHURCH & DWIGHT CO INC | 6.46M | $625.52M | 4.58% | -3% |
| 9 | PGPROCTER & GAMBLE CO | 4.08M | $598.05M | 4.38% | -3% |
| 10 | MSFTMICROSOFT CORP | 1.60M | $595.61M | 4.36% | -23% |
| 11 | METAMETA PLATFORMS INC | 1.05M | $592.51M | 4.34% | -20% |
| 12 | ADPAUTOMATIC DATA PROCESSING IN | 2.60M | $582.62M | 4.27% | -33% |
| 13 | FTNTFORTINET INC | 3.63M | $557.63M | 4.09% | -41% |
| 14 | TSMTAIWAN SEMICONDUCTOR MANUFAC | 1.15M | $548.46M | 4.02% | NEW |
| 15 | IDXXIDEXX LABS INC | 1.02M | $536.91M | 3.93% | -30% |
| 16 | TXNTEXAS INSTRS INC | 1.80M | $536.28M | 3.93% | -31% |
| 17 | PMPHILIP MORRIS INTL INC | 2.91M | $527.12M | 3.86% | -43% |
| 18 | NFLXNETFLIX INC. | 6.99M | $499.11M | 3.66% | NEW |
| 19 | GEVGE VERNOVA INC | 410K | $481.50M | 3.53% | NEW |
| 20 | APPAPPLOVIN CORP | 697K | $358.89M | 2.63% | NEW |
| 21 | TJXTJX COS INC NEW | 2.27M | $344.30M | 2.52% | NEW |
| 22 | NXTNEXTPOWER INC | 2.86M | $340.27M | 2.49% | NEW |
| 23 | VEEVVEEVA SYS INC | 817K | $144.95M | 1.06% | NEW |
| 24 | YUMYUM BRANDS INC | 556K | $88.90M | 0.65% | NEW |
| 25 | MSCIMSCI INC | 54K | $30.01M | 0.22% | -17% |
| 26 | MEDPMEDPACE HLDGS INC | 52K | $27.74M | 0.20% | -16% |
| 27 | NTNXNUTANIX INC | 538K | $27.43M | 0.20% | -7% |
| 28 | BMIBADGER METER INC | 175K | $25.91M | 0.19% | +23% |
| 29 | CLXCLOROX CO DEL | 271K | $25.89M | 0.19% | +5% |
| 30 | ROLROLLINS INC | 620K | $25.88M | 0.19% | – |
| 31 | MANHMANHATTAN ASSOCIATES INC | 173K | $24.09M | 0.18% | +43% |
| 32 | NSSCNAPCO SEC TECHNOLOGIES INC | 607K | $23.05M | 0.17% | +58% |
| 33 | FICOFAIR ISAAC CORP | 18K | $21.45M | 0.16% | NEW |
| 34 | SABRSABRE CORP | 9.01M | $18.84M | 0.14% | – |
| 35 | IDCCINTERDIGITAL INC | 60K | $17.08M | 0.13% | NEW |
| 36 | ORLYOREILLY AUTOMOTIVE INC | 163K | $14.98M | 0.11% | NEW |
| 37 | VRTVERTIV HOLDINGS CO | 42K | $14.03M | 0.10% | -54% |
| 38 | VRSNVERISIGN INC | 56K | $14.02M | 0.10% | -51% |
| 39 | ADMAADMA BIOLOGICS INC | 1.65M | $13.81M | 0.10% | – |
| 40 | DOCSDOXIMITY INC | 653K | $13.55M | 0.10% | -6% |
| 41 | PAYCPAYCOM SOFTWARE INC | 101K | $12.66M | 0.09% | -54% |
Fundsmith portfolio by quarter
4 quarters on fileReported 13F value and position count for each quarter AlphaScala holds for Fundsmith. Value changes include price moves as well as buying and selling. Position changes are shown only where the quarter was compared with the filing before it.
| Quarter | Reported value | Change | Positions | New | Sold out |
|---|---|---|---|---|---|
| Q2 2026 | $13.65B | +6.4% | 41 | 13 | 6 |
| Q1 2026 | $12.83B | -25.1% | 34 | 1 | 4 |
| Q4 2025 | $17.12B | -13.5% | 37 | 2 | 0 |
| Q3 2025 | $19.80B | – | 35 | – | – |
Funds with overlapping holdings
Overlap is the sum of the smaller portfolio weight for each stock both funds hold, across Fundsmith's 25 largest positions.
Related data
Data from SEC Form 13F-HR filings, which are due 45 days after quarter end and list long positions in US-listed equities as of that date. Short positions, cash, bonds, non-US holdings and intra-quarter trading are not shown. Listed options are shown separately at notional value. Changes compare the Q2 2026 filing with Q1 2026. Research only – not investment advice.