Funds › Fundsmith (Terry Smith)Fundsmith (Terry Smith) 13F holdings, Q2 2026 Fundsmith (Terry Smith) disclosed 41 US equity positions worth $13.6bn in its Q2 2026 13F filing. Its largest position is MAR at 7.0% of the reported book, followed by SYK and WAT. Versus Q1 2026 it opened 13 new positions, added to 4, reduced 21 and exited 6.
$13.6bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
41 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.0% Largest position The largest single position as a share of the reported equity book.
52.5% Top 10 weight The ten largest positions together, as a share of the reported equity book.
22 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
55 Quarters on file since Q4 2012 Quarters for which this manager's 13F holdings are on record. Holdings Against Q1 2026: 13 new , 4 added , 21 reduced , 6 exited
41 rows
Stock Sector Weight Value Shares Δ shares Action MAR MARRIOTT INTL INC NEW Consumer Cyclical 7.0% $958m 2.59m −23% reduced SYK STRYKER CORPORATION Healthcare 6.7% $917m 2.91m −4.8% reduced WAT WATERS CORP Healthcare 6.2% $853m 2.27m −29% reduced V VISA INC Financial Services 5.1% $693m 2.02m −35% reduced UBER UBER TECHNOLOGIES INC Technology 4.7% $645m 8.94m – new MA MASTERCARD INC Financial Services 4.7% $639m 1.25m – new GOOGL ALPHABET INC Communication Services 4.6% $634m 1.77m −40% reduced CHD CHURCH & DWIGHT CO INC Consumer Defensive 4.6% $626m 6.46m −2.8% reduced PG PROCTER & GAMBLE CO Consumer Defensive 4.4% $598m 4.08m −2.9% reduced MSFT MICROSOFT CORP Technology 4.4% $596m 1.60m −23% reduced META META PLATFORMS INC Communication Services 4.3% $593m 1.05m −20% reduced ADP AUTOMATIC DATA PROCESSING IN Technology 4.3% $583m 2.60m −33% reduced FTNT FORTINET INC Technology 4.1% $558m 3.63m −41% reduced TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 4.0% $548m 1.15m – new IDXX IDEXX LABS INC Healthcare 3.9% $537m 1.02m −30% reduced TXN TEXAS INSTRS INC Technology 3.9% $536m 1.80m −31% reduced PM PHILIP MORRIS INTL INC Consumer Defensive 3.9% $527m 2.91m −43% reduced NFLX NETFLIX INC. Communication Services 3.7% $499m 6.99m – new GEV GE VERNOVA LLC Industrials 3.5% $481m 409,835 – new APP APPLOVIN CORP Communication Services 2.6% $359m 696,568 – new TJX TJX COS INC NEW Consumer Cyclical 2.5% $344m 2.27m – new NXT NEXTPOWER INC Technology 2.5% $340m 2.86m – new VEEV VEEVA SYS INC Healthcare 1.1% $145m 816,785 – new YUM YUM BRANDS INC Consumer Cyclical 0.7% $88.9m 556,107 – new MSCI MSCI INC Financial Services 0.2% $30.0m 53,580 −17% reduced MEDP MEDPACE HLDGS INC Healthcare 0.2% $27.7m 52,372 −16% reduced NTNX NUTANIX INC Technology 0.2% $27.4m 538,281 −6.8% reduced BMI BADGER METER INC Technology 0.2% $25.9m 174,627 +23% added CLX CLOROX CO DEL Consumer Defensive 0.2% $25.9m 271,318 +5.5% added ROL ROLLINS INC Consumer Cyclical 0.2% $25.9m 619,935 0.0% held MANH MANHATTAN ASSOCIATES INC Technology 0.2% $24.1m 172,977 +43% added NSSC NAPCO SEC TECHNOLOGIES INC Industrials 0.2% $23.1m 606,974 +58% added FICO FAIR ISAAC CORP Technology 0.2% $21.4m 17,953 – new SABR SABRE CORP Technology 0.1% $18.8m 9.01m 0.0% held IDCC INTERDIGITAL INC Technology 0.1% $17.1m 60,324 – new ORLY OREILLY AUTOMOTIVE INC Consumer Cyclical 0.1% $15.0m 162,691 – new VRT VERTIV HOLDINGS CO Industrials 0.1% $14.0m 41,893 −54% reduced VRSN VERISIGN INC Technology 0.1% $14.0m 55,713 −51% reduced ADMA ADMA BIOLOGICS INC Healthcare 0.1% $13.8m 1.65m 0.0% held DOCS DOXIMITY INC Healthcare 0.10% $13.5m 653,324 −5.6% reduced PAYC PAYCOM SOFTWARE INC Technology 0.09% $12.7m 100,763 −54% reduced
Exited since Q1 2026 6 rows
Stock Prior weight Prior value MTD METTLER TOLEDO INTERNATIONAL 5.6% $717m ZTS ZOETIS INC 3.6% $458m OTIS OTIS WORLDWIDE CORP 1.6% $211m CPRXEUR CATALYST PHARMACEUTICALS INC 0.2% $20.9m QLYS QUALYS INC 0.2% $19.9m HD HOME DEPOT INC 0.07% $9.4m
Sector mix Technology 29.1% Healthcare 18.4% Communication Services 15.3% Consumer Defensive 13.0% Consumer Cyclical 10.5% Financial Services 10.0% Industrials 3.8% Book over time Every quarter on file (55) Where Fundsmith (Terry Smith) was early Concentration and tenure
9.9% Median largest position, all quarters The largest single position as a share of the reported equity book.
68.8% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
9 Median completed holding, quarters