Terry Smith portfolio: stocks, buys and sells →
Fundsmith LLP: full 13F, sectors and history
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Fundsmith LLP reported a $13.6 bn portfolio of 41 positions to the SEC as of the end of Q2 2026. Its largest positions are MAR, SYK, WAT. During the quarter it opened Uber Technologies and Mastercard and exited Mettler-Toledo International and Zoetis.
Sections with a free account
What changed this quarter
44 positions with a change (13 new, 4 added to, 21 trimmed, 6 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Mettler-Toledo International−5.3 ppof portfolioSold out5.6% → —
- Uber Technologies+4.7 ppof portfolioNew— → 4.7%
- Mastercard+4.7 ppof portfolioNew— → 4.7%
- Taiwan Semiconductor Manufacturing+4.0 ppof portfolioNew— → 4.0%
- Netflix+3.7 ppof portfolioNew— → 3.7%
- GE Vernova+3.5 ppof portfolioNew— → 3.5%
- Zoetis−3.4 ppof portfolioSold out3.6% → —
- Alphabet−40%fewer sharesReduced6.6% → 4.6%
- Philip Morris International−43%fewer sharesReduced6.6% → 3.9%
- Fortinet−41%fewer sharesReduced3.9% → 4.1%
- Visa−35%fewer sharesReduced7.3% → 5.1%
- AppLovin+2.6 ppof portfolioNew— → 2.6%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Marriott InternationalMAR7.0%
- StrykerSYK6.7%
- WatersWAT6.2%
- VisaV5.1%
- UBER TechnologiesUBER4.7%
- MastercardMA4.7%
- AlphabetGOOGL4.6%
- Church & DwightCHD4.6%
- Procter & GamblePG4.4%
- MicrosoftMSFT4.4%
- Meta PlatformsMETA4.3%
- Automatic Data ProcessingADP4.3%
- FortinetFTNT4.1%
- Taiwan Semiconductor ManufacturingTSM4.0%
- Idexx LaboratoriesIDXX3.9%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Information Technology 20%
- ● Health Care 18%
- ● Industrials 15%
- ● Consumer Staples 13%
- ● Communication Services 13%
- ● Consumer Discretionary 10%
- ● Financials 10%
How its portfolio changed (8 quarters)
Q2 2026: 41
Q2 2026: 52%
Q2 2026: 33.2%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Jun 26, 2026 (medium confidence).
The data, as reported: FUNDSMITH, LLP (CRD 160365): 7.B private funds: 2 other (gross assets $608M); 5.D assets by client type: pooled vehicles 100% (of $18.5 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
Similar managers by type and size
Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
- EdgePoint Investment GroupInvestment firm · $13.2 bn
- Whale Rock Capital ManagementInvestment firm · $12.5 bn
- Independent Franchise Partners LLPInvestment firm · $15.2 bn
- PineStone Asset ManagementInvestment firm · $15.4 bn
- Jericho Capital Asset ManagementInvestment firm · $12.1 bn
- Centersquare Investment ManagementInvestment firm · $11.7 bn