Fundsmith portfolio: Q2 2026 13F holdings
Terry Smith. Terry Smith's fund. Its motto: buy good companies, don't overpay, do nothing.
The Q3 2026 13F is due by 2026-11-16. This page switches to it as soon as it lands on SEC EDGAR (checked hourly).
Fundsmith reported 41 US stock positions worth $13.6B at the end of Q2 2026, against $12.8B in 34 positions at the end of Q1 2026. The ten largest are 52% of the portfolio, led by Marriott International (7.0%), Stryker and Waters. Over the quarter it opened 13 new positions (Uber, Mastercard and Taiwan Semiconductor Manufac and others), sold out of 6 (Mettler Toledo, Zoetis and Otis Worldwide and others), added to 3 and trimmed 16.
Biggest buys in Q2 2026
Biggest sells in Q2 2026
Everything Fundsmith owns
| Company | % of portfolio | Value | Shares | vs Q1 2026 | Upside | The rule |
|---|---|---|---|---|---|---|
| MARMarriott International | 7.0% | $958.3M | 2,585,757 | -23% | -53% | Members only |
| SYKStryker | 6.7% | $917.4M | 2,913,833 | -5% | -4% | Members only |
| WATWaters | 6.2% | $852.7M | 2,273,632 | -29% | -93% | Members only |
| VVisa | 5.1% | $693.0M | 2,019,810 | -35% | -21% | Members only |
| UBERUber | 4.7% | $645.3M | 8,943,151 | NEW | +93% | Members only |
| MAMastercard | 4.7% | $639.5M | 1,245,051 | NEW | +0% | Members only |
| GOOGLAlphabet (Class A) | 4.6% | $633.7M | 1,773,354 | -40% | -5% | Members only |
| CHDChurch & Dwight | 4.6% | $625.5M | 6,456,634 | -3% | -38% | Members only |
| PGProcter & Gamble | 4.4% | $598.1M | 4,078,371 | -3% | -34% | Members only |
| MSFTMicrosoft | 4.4% | $595.6M | 1,596,737 | -23% | -4% | Members only |
| METAMeta Platforms | 4.3% | $592.5M | 1,051,876 | -20% | +14% | Members only |
| ADPAutomatic Data Processing | 4.3% | $582.6M | 2,601,567 | -33% | -11% | Members only |
| FTNTFortinet | 4.1% | $557.6M | 3,629,938 | -41% | +6% | Members only |
| Taiwan Semiconductor Manufac | 4.0% | $548.5M | 1,148,449 | NEW | — | — |
| IDXXIdexx Laboratories | 3.9% | $536.9M | 1,019,887 | -30% | -33% | Members only |
| TXNTexas Instruments | 3.9% | $536.3M | 1,799,182 | -31% | -44% | Members only |
| PMPhilip Morris International | 3.9% | $527.1M | 2,913,693 | -43% | -16% | Members only |
| NFLXNetflix | 3.7% | $499.1M | 6,990,345 | NEW | +22% | Members only |
| GEVGE Vernova | 3.5% | $481.5M | 409,835 | NEW | +42% | Members only |
| APPAppLovin | 2.6% | $358.9M | 696,568 | NEW | +44% | Members only |
| TJXTJX Companies | 2.5% | $344.3M | 2,272,592 | NEW | -30% | Members only |
| Nextpower Inc | 2.5% | $340.3M | 2,856,092 | NEW | — | — |
| VEEVVeeva Systems | 1.1% | $145.0M | 816,785 | NEW | -11% | Members only |
| YUMYum! Brands | 0.7% | $88.9M | 556,107 | NEW | -24% | Members only |
| MSCIMSCI | 0.2% | $30.0M | 53,580 | -17% | -37% | Members only |
| Medpace Hldgs Inc | 0.2% | $27.7M | 52,372 | -16% | — | — |
| Nutanix Inc | 0.2% | $27.4M | 538,281 | -7% | — | — |
| Badger Meter Inc | 0.2% | $25.9M | 174,627 | +23% | — | — |
| CLXClorox | 0.2% | $25.9M | 271,318 | +5% | -50% | Members only |
| ROLRollins | 0.2% | $25.9M | 619,935 | same | +2% | Members only |
| Manhattan Associates Inc | 0.2% | $24.1M | 172,977 | +43% | — | — |
| Napco Sec Technologies Inc | 0.2% | $23.1M | 606,974 | +58% | — | — |
| FICOFair Isaac | 0.2% | $21.4M | 17,953 | NEW | +44% | Members only |
| Sabre Corp | 0.1% | $18.8M | 9,013,783 | same | — | — |
| Interdigital Inc | 0.1% | $17.1M | 60,324 | NEW | — | — |
| ORLYO'Reilly Automotive | 0.1% | $15.0M | 162,691 | NEW | -32% | Members only |
| VRTVertiv | 0.1% | $14.0M | 41,893 | -54% | +3% | Members only |
| VRSNVerisign | 0.1% | $14.0M | 55,713 | -51% | -20% | Members only |
| Adma Biologics Inc | 0.1% | $13.8M | 1,649,493 | same | — | — |
| Doximity Inc | <0.1% | $13.5M | 653,324 | -6% | — | — |
| Paycom Software Inc | <0.1% | $12.7M | 100,763 | -54% | — | — |
| MTDMettler Toledo | — | — | — | SOLD OUT | -62% | Members only |
| ZTSZoetis | — | — | — | SOLD OUT | +23% | Members only |
| OTISOtis Worldwide | — | — | — | SOLD OUT | -22% | Members only |
| Catalyst Pharmaceuticals Inc | — | — | — | SOLD OUT | — | — |
| Qualys Inc | — | — | — | SOLD OUT | — | — |
| HDHome Depot | — | — | — | SOLD OUT | -24% | Members only |
Upside is to our model’s value from each company’s own SEC filings, for the S&P 500 companies we value (how). Positions sold out during the quarter are listed last.
Other 13F portfolios
- Berkshire HathawayWarren Buffett · Q2 2026
- Dodge & Cox220 positions · Q2 2026
- Harris Associates (Oakmark)Bill Nygren · Q2 2026
- First Eagle Investments422 positions · Q2 2026
- Coatue ManagementPhilippe Laffont · Q2 2026
- Viking GlobalAndreas Halvorsen · Q2 2026
- D1 Capital PartnersDan Sundheim · Q2 2026
- Tiger GlobalChase Coleman · Q2 2026
- Davis AdvisorsChris Davis · Q2 2026
- Pershing SquareBill Ackman · Q2 2026
- Lone Pine CapitalStephen Mandel · Q2 2026
- Elliott Investment ManagementPaul Singer · Q2 2026
What a 13F shows, and what it hides: 13F filings explained.
Generated automatically from Fundsmith’s Form 13F (CIK 1569205, accession 0001569205-26-000012) on SEC EDGAR, compared with its filing for Q1 2026. Long US stock positions only: 13Fs leave out shorts, cash, bonds, most non-US holdings and options (excluded here), and are up to 45 days old when filed. Research only, not investment advice. boring&rich is not affiliated with or endorsed by Fundsmith or Terry Smith.