Fundsmith LLP

Superinvestor · Terry Smith

CIK

1569205

Location

LONDON, X0

Portfolio Value

Mid $2,713,045,350

Diversification

Diversified

Filing Date

Global Rank

#361 / 8,576 ▼ 156

Top Industry

Diagnostics & Research 19.7%

3Y Alpha vs SPY

-9.9%

Period ended 2 months ago

Filed May 15, 2026 · 27d

25 quarters · since Mar 2020

Portfolio Concentration

34 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.6%

+0.7 pts

Top 5

37.8%

+0.5 pts

Top 10

68.8%

+2.0 pts

HHI

605

Diversified+64

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	31.5%	$4,043,488,233	9
Technology	21.1%	$2,713,045,350	11
Consumer Defensive	16.4%	$2,098,486,871	4
Communication Services	12.5%	$1,606,082,574	2
Consumer Cyclical	8.9%	$1,145,031,704	3
Financial Services	7.6%	$973,101,540	2
Industrials	1.9%	$248,530,698	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SABR	Sabre Corp	−12,485,312	9,013,783	$13,069,985
CPRX	Catalyst Pharmaceuticals, Inc.	−2,518,920	844,887	$20,919,402
NSSC	Napco Security Technologies, Inc	−1,396,261	383,596	$15,109,846
PM	Philip Morris International Inc.	−1,011,434	5,113,163	$845,410,370
DOCS	Doximity, Inc.	−958,216	691,786	$16,118,613
ROL	Rollins Inc	−858,694	619,935	$33,110,728
NTNX	Nutanix, Inc.	−799,766	577,392	$21,946,669
SYK	Stryker Corp	−626,095	3,061,416	$1,005,950,683
MAR	Marriott International Inc /Md/	−609,055	3,370,872	$1,102,511,105
GOOGL	Alphabet Inc.	−542,321	2,956,198	$850,084,296
ADMA	Adma Biologics, Inc.	−452,561	1,649,493	$14,861,931
V	Visa Inc.	−430,594	3,104,090	$938,180,161
QLYS	Qualys, Inc.	−421,729	226,077	$19,860,864
IDXX	Idexx Laboratories Inc /De	−410,249	1,465,786	$823,610,495
OTIS	Otis Worldwide Corp	−380,745	2,731,635	$210,554,425
FTNT	Fortinet, Inc.	−359,336	6,156,675	$503,123,481
CLX	Clorox Co /De/	−356,280	257,217	$26,655,397
WAT	Waters Corp /De/	−345,903	3,212,075	$956,555,935
ADP	Automatic Data Processing Inc	−322,864	3,855,105	$783,280,233
VRT	Vertiv Holdings Co	−319,690	91,254	$22,866,427
PAYC	Paycom Software, Inc.	−303,976	219,457	$26,672,803
MANH	Manhattan Associates Inc	−167,444	120,888	$16,092,610
VRSN	Verisign Inc/Ca	−157,167	113,467	$28,180,664
MSCI	MSCI Inc.	−101,831	64,788	$34,921,379
CHD	Church & Dwight Co Inc /De/	−86,896	6,641,508	$619,785,526
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
BMI	Badger Meter Inc	142,491	$21,708,503
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
INTU	Intuit Inc.	625,619	$414,422,537
NKE	NIKE, Inc.	5,770,181	$367,618,231
ODD	Oddity Tech Ltd	2,074,167	$83,340,030
GGG	Graco Inc	579,016	$47,461,941
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

11 positions · $2,713,045,350 total · Technology only · as of Mar 31, 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
ADP	Automatic Data Processing Inc Technology	Reduced	3,855,105	-322,864	$783,280,233	−27.1%	$229.30	28.87%
MSFT	Microsoft Corp Technology	Reduced	2,079,737	-234	$769,856,245	−23.5%	$418.44	28.38%
TXN	Texas Instruments Inc Technology	Reduced	2,623,124	-428	$509,253,293	+11.9%	$202.46	18.77%
FTNT	Fortinet, Inc. Technology	Reduced	6,156,675	-359,336	$503,123,481	−2.8%	$80.77	18.54%
VRSN	Verisign Inc/Ca Technology	Reduced	113,467	-157,167	$28,180,664	−57.1%	$238.00	1.04%
PAYC	Paycom Software, Inc. Technology	Reduced	219,457	-303,976	$26,672,803	−68.0%	$133.80	0.98%
NTNX	Nutanix, Inc. Technology	Reduced	577,392	-799,766	$21,946,669	−69.2%	$42.15	0.81%
BMI	Badger Meter Inc Technology	NEW	142,491	NEW	$21,708,503	NEW	$156.97	0.80%
QLYS	Qualys, Inc. Technology	Reduced	226,077	-421,729	$19,860,864	−76.9%	$110.82	0.73%
MANH	Manhattan Associates Inc Technology	Reduced	120,888	-167,444	$16,092,610	−67.8%	$149.75	0.59%
SABR	Sabre Corp Technology	Reduced	9,013,783	-12,485,312	$13,069,985	−55.3%	$1.33	0.48%