Terry Smith, Fundsmith
Portfolio USD 13,648,927,000 across 41 positions as of 2026 Q2; history from 2018 Q2. Source: quarterly 13F filings via dataroma.com.
Positions, 2026 Q2
- MAR Marriott Int'l.: 7.0% of portfolio, USD 958,256,000, reduce -23.29%
- SYK Stryker Corp.: 6.7% of portfolio, USD 917,391,000, reduce -4.82%
- WAT Waters Corp.: 6.3% of portfolio, USD 852,703,000, reduce -29.22%
- V Visa Inc.: 5.1% of portfolio, USD 692,977,000, reduce -34.93%
- UBER Uber Technologies Inc.: 4.7% of portfolio, USD 645,338,000, new
- MA Mastercard Inc.: 4.7% of portfolio, USD 639,458,000, new
- GOOGL Alphabet Inc.: 4.6% of portfolio, USD 633,744,000, reduce -40.01%
- CHD Church & Dwight: 4.6% of portfolio, USD 625,519,000, reduce -2.78%
- PG Procter & Gamble: 4.4% of portfolio, USD 598,052,000, reduce -2.89%
- MSFT Microsoft Corp.: 4.4% of portfolio, USD 595,615,000, reduce -23.22%
- META Meta Platforms Inc.: 4.3% of portfolio, USD 592,511,000, reduce -20.4%
- ADP Automatic Data Processing Inc.: 4.3% of portfolio, USD 582,621,000, reduce -32.52%
- FTNT Fortinet Inc.: 4.1% of portfolio, USD 557,631,000, reduce -41.04%
- TSM Taiwan Semiconductor S.A.: 4.0% of portfolio, USD 548,465,000, new
- IDXX IDEXX Laboratories: 3.9% of portfolio, USD 536,909,000, reduce -30.42%
- TXN Texas Instruments: 3.9% of portfolio, USD 536,282,000, reduce -31.41%
- PM Philip Morris Intl.: 3.9% of portfolio, USD 527,116,000, reduce -43.02%
- NFLX Netflix Inc.: 3.7% of portfolio, USD 499,111,000, new
- GEV Ge Vernova Inc: 3.5% of portfolio, USD 481,499,000, new
- APP Applovin Corp.: 2.6% of portfolio, USD 358,893,000, new
- TJX TJX Companies Inc.: 2.5% of portfolio, USD 344,298,000, new
- NXT Nextracker Inc Cl A: 2.5% of portfolio, USD 340,275,000, new
- VEEV Veeva Systems Inc.: 1.1% of portfolio, USD 144,955,000, new
- YUM Yum! Brands Inc.: 0.7% of portfolio, USD 88,899,000, new
- MSCI MSCI Inc.: 0.2% of portfolio, USD 30,007,000, reduce -17.3%
- MEDP Medpace Holdings Inc.: 0.2% of portfolio, USD 27,736,000, reduce -16.43%
- NTNX Nutanix Inc.: 0.2% of portfolio, USD 27,431,000, reduce -6.77%
- BMI Badger Meter Inc.: 0.2% of portfolio, USD 25,911,000, add +22.55%
- CLX Clorox Co.: 0.2% of portfolio, USD 25,895,000, add +5.48%
- ROL Rollins Inc.: 0.2% of portfolio, USD 25,876,000, hold
- MANH Manhattan Associates: 0.2% of portfolio, USD 24,087,000, add +43.09%
- NSSC Napco Security Technologies Inc.: 0.2% of portfolio, USD 23,053,000, add +58.23%
- FICO Fair Isaac Corp.: 0.2% of portfolio, USD 21,450,000, new
- SABR Sabre Corp.: 0.1% of portfolio, USD 18,839,000, hold
- IDCC InterDigital Inc.: 0.1% of portfolio, USD 17,080,000, new
- ORLY O'Reilly Automotive: 0.1% of portfolio, USD 14,982,000, new
- VRT Vertiv Holdings Co.: 0.1% of portfolio, USD 14,027,000, reduce -54.09%
- VRSN Verisign Inc.: 0.1% of portfolio, USD 14,015,000, reduce -50.9%
- ADMA ADMA Biologics Inc.: 0.1% of portfolio, USD 13,806,000, hold
- DOCS Doximity Inc.: 0.1% of portfolio, USD 13,550,000, reduce -5.56%
- PAYC Paycom Software Inc.: 0.1% of portfolio, USD 12,664,000, reduce -54.09%
Portfolio value, all published quarters
- 2018 Q2: USD 13,436,546,676
- 2018 Q3: USD 14,910,989,989
- 2018 Q4: USD 15,749,450,518
- 2019 Q1: USD 17,595,897,165
- 2019 Q2: USD 19,185,597,986
- 2019 Q3: USD 19,559,679,857
- 2019 Q4: USD 21,166,416,817
- 2020 Q1: USD 17,767,185,533
- 2020 Q2: USD 22,917,301,887
- 2020 Q3: USD 25,598,730,312
- 2020 Q4: USD 30,169,238,639
- 2021 Q1: USD 31,445,063,482
- 2021 Q2: USD 36,078,382,947
- 2021 Q3: USD 36,166,730,367
- 2021 Q4: USD 40,978,650,212
- 2022 Q1: USD 29,112,911,976
- 2022 Q2: USD 23,451,019,991
- 2022 Q3: USD 21,064,761,880
- 2022 Q4: USD 21,893,437,229
- 2023 Q1: USD 23,181,302,002
- 2023 Q2: USD 23,838,013,810
- 2023 Q3: USD 22,013,238,292
- 2023 Q4: USD 23,888,150,521
- 2024 Q1: USD 25,542,743,581
- 2024 Q2: USD 24,537,013,100
- 2024 Q3: USD 25,278,411,425
- 2024 Q4: USD 23,453,487,170
- 2025 Q1: USD 21,972,429,847
- 2025 Q2: USD 23,021,132,096
- 2025 Q3: USD 19,795,225,546
- 2025 Q4: USD 17,112,668,384
- 2026 Q1: USD 12,829,049,871
- 2026 Q2: USD 13,648,927,000