Fundsmith LLP

Superinvestor · Terry Smith

CIK

1569205

Location

LONDON, X0

Portfolio Value

Large $13,648,923,661

Diversification

Diversified

Filing Date

Global Rank

#399 / 8,691 ▲ 19

Top Industry

Diagnostics & Research 10.4%

3Y Alpha vs SPY

-10.8%

Period ended 2 months ago

Filed Aug 14, 2026 · 26d

26 quarters · since Mar 2020

Clone Performance

Sep 2023–Sep 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+28.2%

SPY

+71.9%

Annualised alpha

-11.2%

Max drawdown

−15.8%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Returns are unavailable when a held security or benchmark crosses a captured split without a certified price basis; the requested window is not shortened to hide it. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

41 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

7.0%

−1.6 pts

Top 5

29.8%

−8.1 pts

Top 10

52.5%

−16.5 pts

HHI

447

Diversified−160

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	29.1%	$3,967,702,661	15
Healthcare	18.4%	$2,507,050,153	7
Communication Services	15.3%	$2,084,258,113	4
Consumer Defensive	13.0%	$1,776,581,813	4
Consumer Cyclical	10.5%	$1,432,310,939	5
Financial Services	10.0%	$1,362,441,748	3
Industrials	3.8%	$518,578,234	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
NSSC	Napco Security Technologies, Inc	+223,378	606,974	$23,052,872
MANH	Manhattan Associates Inc	+52,089	172,977	$24,087,047
BMI	Badger Meter Inc	+32,136	174,627	$25,911,154
CLX	Clorox Co /De/	+14,101	271,318	$25,894,589
No positions match the current search.

Trimmed

Positions the filer reduced

21 positions

Ticker	Company	Δ Shares	Shares	Value
FTNT	Fortinet, Inc.	−2,526,737	3,629,938	$557,631,075
PM	Philip Morris International Inc.	−2,199,470	2,913,693	$527,116,200
ADP	Automatic Data Processing Inc	−1,253,538	2,601,567	$582,620,929
GOOGL	Alphabet Inc.	−1,182,844	1,773,354	$633,743,518
V	Visa Inc.	−1,084,280	2,019,810	$692,976,612
WAT	Waters Corp /De/	−938,443	2,273,632	$852,702,945
TXN	Texas Instruments Inc	−823,942	1,799,182	$536,282,178
MAR	Marriott International Inc /Md/	−785,115	2,585,757	$958,255,686
MSFT	Microsoft Corp	−483,000	1,596,737	$595,614,835
IDXX	Idexx Laboratories Inc /De	−445,899	1,019,887	$536,909,312
META	Meta Platforms, Inc.	−269,499	1,051,876	$592,511,232
CHD	Church & Dwight Co Inc /De/	−184,874	6,456,634	$625,518,701
SYK	Stryker Corp	−147,583	2,913,833	$917,391,181
PG	PROCTER & GAMBLE Co	−121,543	4,078,371	$598,052,323
PAYC	Paycom Software, Inc.	−118,694	100,763	$12,663,893
VRSN	Verisign Inc/Ca	−57,754	55,713	$14,015,162
VRT	Vertiv Holdings Co	−49,361	41,893	$14,026,614
NTNX	Nutanix, Inc.	−39,111	538,281	$27,430,799
DOCS	Doximity, Inc.	−38,462	653,324	$13,549,939
MSCI	MSCI Inc.	−11,208	53,580	$30,006,943
MEDP	Medpace Holdings, Inc.	−10,296	52,372	$27,735,687
No positions match the current search.

New Positions

Positions the filer opened this quarter

13 positions

Ticker	Company	Shares	Value
UBER	Uber Technologies, Inc	8,943,151	$645,337,776
MA	Mastercard Inc	1,245,051	$639,458,193
TSM	Taiwan Semiconductor Manufacturing Co Ltd	1,148,449	$548,464,788
NFLX	Netflix Inc	6,990,345	$499,110,633
GEV	GE Vernova Inc.	409,835	$481,498,748
APP	AppLovin Corp	696,568	$358,892,730
TJX	Tjx Companies Inc /De/	2,272,592	$344,297,688
NXT	Nextpower Inc.	2,856,092	$340,274,800
VEEV	Veeva Systems Inc	816,785	$144,954,833
YUM	Yum Brands Inc	556,107	$88,899,265
FICO	Fair Isaac Corp	17,953	$21,449,885
IDCC	InterDigital, Inc.	60,324	$17,079,534
ORLY	O Reilly Automotive Inc	162,691	$14,982,214
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
MTD	Mettler Toledo International Inc/	568,516	$717,012,379
ZTS	Zoetis Inc.	3,877,559	$458,366,249
OTIS	Otis Worldwide Corp	2,731,635	$210,554,425
QLYS	Qualys, Inc.	226,077	$19,860,864
HD	Home Depot, Inc.	28,611	$9,409,871
—		844,887	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 tracked positions · $13,648,923,661 total · filing declares 41 positions · $13,648,923,682 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
MAR	Marriott International Inc /Md/ Consumer Cyclical	Reduced	2,585,757	-785,115	$958,255,686	−13.1%	$368.78	7.02%
SYK	Stryker Corp Healthcare	Reduced	2,913,833	-147,583	$917,391,181	−8.8%	$315.13	6.72%
WAT	Waters Corp /De/ Healthcare	Reduced	2,273,632	-938,443	$852,702,945	−10.9%	$341.12	6.25%
V	Visa Inc. Financial Services	Reduced	2,019,810	-1,084,280	$692,976,612	−26.1%	$321.04	5.08%
UBER	Uber Technologies, Inc Technology	NEW	8,943,151	NEW	$645,337,776	NEW	$73.33	4.73%
MA	Mastercard Inc Financial Services	NEW	1,245,051	NEW	$639,458,193	NEW	$498.62	4.69%
GOOGL	Alphabet Inc. Communication Services	Reduced	1,773,354	-1,182,844	$633,743,518	−25.4%	$359.97	4.64%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	Reduced	6,456,634	-184,874	$625,518,701	+0.9%	$95.56	4.58%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	4,078,371	-121,543	$598,052,323	−1.4%	$145.55	4.38%
MSFT	Microsoft Corp Technology	Reduced	1,596,737	-483,000	$595,614,835	−22.6%	$404.60	4.36%
META	Meta Platforms, Inc. Communication Services	Reduced	1,051,876	-269,499	$592,511,232	−21.6%	$611.48	4.34%
ADP	Automatic Data Processing Inc Technology	Reduced	2,601,567	-1,253,538	$582,620,929	−25.6%	$213.75	4.27%
FTNT	Fortinet, Inc. Technology	Reduced	3,629,938	-2,526,737	$557,631,075	+10.8%	$115.56	4.09%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	NEW	1,148,449	NEW	$548,464,788	NEW	$405.79	4.02%
IDXX	Idexx Laboratories Inc /De Healthcare	Reduced	1,019,887	-445,899	$536,909,312	−34.8%	$560.90	3.93%
TXN	Texas Instruments Inc Technology	Reduced	1,799,182	-823,942	$536,282,178	+5.3%	$277.43	3.93%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	2,913,693	-2,199,470	$527,116,200	−37.6%	$173.43	3.86%
NFLX	Netflix Inc Communication Services	NEW	6,990,345	NEW	$499,110,633	NEW	$88.07	3.66%
GEV	GE Vernova Inc. Industrials	NEW	409,835	NEW	$481,498,748	NEW	$1,020.67	3.53%
APP	AppLovin Corp Communication Services	NEW	696,568	NEW	$358,892,730	NEW	$482.62	2.63%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	NEW	2,272,592	NEW	$344,297,688	NEW	$158.11	2.52%
NXT	Nextpower Inc. Technology	NEW	2,856,092	NEW	$340,274,800	NEW	$123.40	2.49%
VEEV	Veeva Systems Inc Healthcare	NEW	816,785	NEW	$144,954,833	NEW	$164.89	1.06%
YUM	Yum Brands Inc Consumer Cyclical	NEW	556,107	NEW	$88,899,265	NEW	$154.88	0.65%
MSCI	MSCI Inc. Financial Services	Reduced	53,580	-11,208	$30,006,943	−14.1%	$583.46	0.22%
MEDP	Medpace Holdings, Inc. Healthcare	Reduced	52,372	-10,296	$27,735,687	−7.8%	$461.51	0.20%
NTNX	Nutanix, Inc. Technology	Reduced	538,281	-39,111	$27,430,799	+25.0%	$45.19	0.20%
BMI	Badger Meter Inc Technology	Added	174,627	+32,136	$25,911,154	+19.4%	$130.86	0.19%
CLX	Clorox Co /De/ Consumer Defensive	Added	271,318	+14,101	$25,894,589	−2.9%	$95.99	0.19%
ROL	Rollins Inc Consumer Cyclical	Held	619,935	0	$25,876,086	−21.8%	$51.11	0.19%
MANH	Manhattan Associates Inc Technology	Added	172,977	+52,089	$24,087,047	+49.7%	$137.78	0.18%
NSSC	Napco Security Technologies, Inc Industrials	Added	606,974	+223,378	$23,052,872	+52.6%	$39.72	0.17%
FICO	Fair Isaac Corp Technology	NEW	17,953	NEW	$21,449,885	NEW	$1,120.17	0.16%
SABR	Sabre Corp Technology	Held	9,013,783	0	$18,838,806	+44.1%	$1.75	0.14%
IDCC	InterDigital, Inc. Technology	NEW	60,324	NEW	$17,079,534	NEW	$297.35	0.13%
ORLY	O Reilly Automotive Inc Consumer Cyclical	NEW	162,691	NEW	$14,982,214	NEW	$91.22	0.11%
VRT	Vertiv Holdings Co Industrials	Reduced	41,893	-49,361	$14,026,614	−38.7%	$317.15	0.10%
VRSN	Verisign Inc/Ca Technology	Reduced	55,713	-57,754	$14,015,162	−50.3%	$277.85	0.10%
ADMA	Adma Biologics, Inc. Healthcare	Held	1,649,493	0	$13,806,256	−7.1%	$9.12	0.10%
DOCS	Doximity, Inc. Healthcare	Reduced	653,324	-38,462	$13,549,939	−15.9%	$22.11	0.10%
PAYC	Paycom Software, Inc. Technology	Reduced	100,763	-118,694	$12,663,893	−52.5%	$130.40	0.09%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.