Fundsmith
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Terry Smith's Fundsmith reported 41 stock positions worth $13.6 billion. Its top holding was Marriott International Class A (MAR) at 7.0% of the portfolio, followed by Stryker (SYK, 6.7%) and Waters (WAT, 6.2%). Compared with Q1 2026, it opened 13 new positions, sold out of 6, added to 4 and reduced 21. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale an exit from Mettler-Toledo International (MTD).
- Most Recent 13F
- Q2 2026
- Notable People
- Terry Smith
- Location
- LONDON, X0
- CIK
- 0001569205
- Portfolio Value
- $13.6B (Q2 2026)
- SEC Filing
- 0001569205-26-000012 ↗ filed Aug 14, 2026
Holdings Value
Holdings 41 stocks · $13.6B
| MAR Marriott International Class A | 7.02% | 2,585,757 | $958.3M | Reduce -23.3% |
| SYK Stryker Corp. | 6.72% | 2,913,833 | $917.4M | Reduce -4.8% |
| WAT Waters Corp. | 6.25% | 2,273,632 | $852.7M | Reduce -29.2% |
| V Visa Inc. Class A | 5.08% | 2,019,810 | $693.0M | Reduce -34.9% |
| UBER Uber Technologies Inc. | 4.73% | 8,943,151 | $645.3M | New |
| MA Mastercard Inc. Class A | 4.68% | 1,245,051 | $639.5M | New |
| GOOGL Alphabet Inc. Class A | 4.64% | 1,773,354 | $633.7M | Reduce -40.0% |
| CHD Church & Dwight Co. Inc. | 4.58% | 6,456,634 | $625.5M | Reduce -2.8% |
| PG The Procter & Gamble Co. | 4.38% | 4,078,371 | $598.1M | Reduce -2.9% |
| MSFT Microsoft Corp. | 4.36% | 1,596,737 | $595.6M | Reduce -23.2% |
| META Meta Platforms Inc. Class A | 4.34% | 1,051,876 | $592.5M | Reduce -20.4% |
| ADP Automatic Data Processing | 4.27% | 2,601,567 | $582.6M | Reduce -32.5% |
| FTNT Fortinet Inc. | 4.09% | 3,629,938 | $557.6M | Reduce -41.0% |
| TSM Taiwan Semiconductor-SP ADR | 4.02% | 1,148,449 | $548.5M | New |
| IDXX Idexx Laboratories Inc. | 3.93% | 1,019,887 | $536.9M | Reduce -30.4% |
| TXN Texas Instruments Inc. | 3.93% | 1,799,182 | $536.3M | Reduce -31.4% |
| PM Philip Morris International | 3.86% | 2,913,693 | $527.1M | Reduce -43.0% |
| NFLX Netflix Inc. | 3.66% | 6,990,345 | $499.1M | New |
| GEV GE Vernova Inc. | 3.53% | 409,835 | $481.5M | New |
| APP AppLovin Corp. Class A | 2.63% | 696,568 | $358.9M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.52% | 2,272,592 | $344.3M | New |
| NXT Nextpower Inc. | 2.49% | 2,856,092 | $340.3M | New |
| VEEV Veeva Systems Inc. Class A | 1.06% | 816,785 | $145.0M | New |
| YUM Yum! Brands Inc. | 0.65% | 556,107 | $88.9M | New |
| MSCI MSCI Inc. | 0.22% | 53,580 | $30.0M | Reduce -17.3% |
| MEDP Medpace Holdings Inc. | 0.20% | 52,372 | $27.7M | Reduce -16.4% |
| NTNX Nutanix Inc. Class A | 0.20% | 538,281 | $27.4M | Reduce -6.8% |
| BMI Badger Meter Inc. | 0.19% | 174,627 | $25.9M | Add +22.6% |
| CLX Clorox Company | 0.19% | 271,318 | $25.9M | Add +5.5% |
| ROL Rollins Inc. | 0.19% | 619,935 | $25.9M | No change |
| MANH Manhattan Associates Inc. | 0.18% | 172,977 | $24.1M | Add +43.1% |
| NSSC Napco Security Technologies | 0.17% | 606,974 | $23.1M | Add +58.2% |
| FICO Fair Isaac Corp. | 0.16% | 17,953 | $21.4M | New |
| SABR Sabre Corp. | 0.14% | 9,013,783 | $18.8M | No change |
| IDCC Interdigital Inc. | 0.13% | 60,324 | $17.1M | New |
| ORLY O'reilly Automotive Inc. | 0.11% | 162,691 | $15.0M | New |
| VRT Vertiv Holdings Co. Class A | 0.10% | 41,893 | $14.0M | Reduce -54.1% |
| VRSN Verisign Inc. | 0.10% | 55,713 | $14.0M | Reduce -50.9% |
| ADMA Adma Biologics Inc. | 0.10% | 1,649,493 | $13.8M | No change |
| DOCS Doximity Inc. Class A | 0.10% | 653,324 | $13.5M | Reduce -5.6% |
| PAYC Paycom Software Inc. | 0.09% | 100,763 | $12.7M | Reduce -54.1% |
Portfolio Sells Q1 2026 → Q2 2026
| MTD Mettler-Toledo International | Sold out | 0.00% | −5.59 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −3.57 |
| PM Philip Morris International | Reduce -43.0% | 3.86% | −2.73 |
| IDXX Idexx Laboratories Inc. | Reduce -30.4% | 3.93% | −2.49 |
| V Visa Inc. Class A | Reduce -34.9% | 5.08% | −2.24 |
| GOOGL Alphabet Inc. Class A | Reduce -40.0% | 4.64% | −1.98 |
| ADP Automatic Data Processing | Reduce -32.5% | 4.27% | −1.84 |
| OTIS Otis Worldwide Corp. | Sold out | 0.00% | −1.64 |
| MSFT Microsoft Corp. | Reduce -23.2% | 4.36% | −1.64 |
| MAR Marriott International Class A | Reduce -23.3% | 7.02% | −1.57 |
| META Meta Platforms Inc. Class A | Reduce -20.4% | 4.34% | −1.55 |
| WAT Waters Corp. | Reduce -29.2% | 6.25% | −1.21 |
| SYK Stryker Corp. | Reduce -4.8% | 6.72% | −1.12 |
| PG The Procter & Gamble Co. | Reduce -2.9% | 4.38% | −0.35 |
| CHD Church & Dwight Co. Inc. | Reduce -2.8% | 4.58% | −0.25 |
| CPRX Catalyst Pharmaceuticals Inc. | Sold out | 0.00% | −0.16 |
| QLYS Qualys Inc. | Sold out | 0.00% | −0.15 |
| VRSN Verisign Inc. | Reduce -50.9% | 0.10% | −0.12 |
| PAYC Paycom Software Inc. | Reduce -54.1% | 0.09% | −0.12 |
| VRT Vertiv Holdings Co. Class A | Reduce -54.1% | 0.10% | −0.08 |
| HD Home Depot Inc. | Sold out | 0.00% | −0.07 |
| MSCI MSCI Inc. | Reduce -17.3% | 0.22% | −0.05 |
| TXN Texas Instruments Inc. | Reduce -31.4% | 3.93% | −0.04 |
| MEDP Medpace Holdings Inc. | Reduce -16.4% | 0.20% | −0.03 |
| DOCS Doximity Inc. Class A | Reduce -5.6% | 0.10% | −0.03 |
| NTNX Nutanix Inc. Class A | Reduce -6.8% | 0.20% | +0.03 |
| FTNT Fortinet Inc. | Reduce -41.0% | 4.09% | +0.16 |
Portfolio Buys Q1 2026 → Q2 2026
| UBER Uber Technologies Inc. | New | 4.73% | +4.73 |
| MA Mastercard Inc. Class A | New | 4.68% | +4.68 |
| TSM Taiwan Semiconductor-SP ADR | New | 4.02% | +4.02 |
| NFLX Netflix Inc. | New | 3.66% | +3.66 |
| GEV GE Vernova Inc. | New | 3.53% | +3.53 |
| APP AppLovin Corp. Class A | New | 2.63% | +2.63 |
| TJX TJX Companies Inc. | New | 2.52% | +2.52 |
| NXT Nextpower Inc. | New | 2.49% | +2.49 |
| VEEV Veeva Systems Inc. Class A | New | 1.06% | +1.06 |
| YUM Yum! Brands Inc. | New | 0.65% | +0.65 |
| FICO Fair Isaac Corp. | New | 0.16% | +0.16 |
| IDCC Interdigital Inc. | New | 0.13% | +0.13 |
| ORLY O'reilly Automotive Inc. | New | 0.11% | +0.11 |
| NSSC Napco Security Technologies | Add +58.2% | 0.17% | +0.05 |
| MANH Manhattan Associates Inc. | Add +43.1% | 0.18% | +0.05 |
| BMI Badger Meter Inc. | Add +22.6% | 0.19% | +0.02 |
| CLX Clorox Company | Add +5.5% | 0.19% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $13.6B | MAR, SYK, WAT, V, UBER |
| Q1 2026 | 34 | $12.8B | MAR, SYK, WAT, V, GOOGL |
| Q4 2025 | 37 | $17.1B | WAT, SYK, IDXX, V, MAR |
| Q3 2025 | 35 | $19.8B | SYK, IDXX, GOOGL, MSFT, V |
| Q2 2025 | 39 | $23.0B | META, MSFT, SYK, PM, IDXX |
| Q1 2025 | 38 | $22.0B | META, MSFT, SYK, PM, V |
| Q4 2024 | 38 | $23.5B | META, MSFT, SYK, ADP, V |
| Q3 2024 | 40 | $25.3B | MSFT, META, SYK, ADP, V |
| Q2 2024 | 40 | $24.5B | MSFT, META, SYK, PM, V |
| Q1 2024 | 40 | $25.6B | MSFT, META, SYK, V, IDXX |