Fundsmith (Terry Smith) latest 13F portfolio: 41 holdings worth $13.6B as of Q2 2026.
Backtested since 2020: mirroring Fundsmith's reported 13F equity holdings each quarter would have returned +84.7% versus +190.9%for the S&P 500 (+10.2% annualized). See the Performance tab for the full equity curve.
Investor: Terry Smith
Number of Assets: 41
Reporting Period: Q2 - 2026
Holdings at Report: $13,648,923,682
Return $ Since Report: +$42,254,970
Return % Since Report: +0.31%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Medpace Holdings Inc. (MEDP) | Equity | -16.43% | 52,372 | 0.20% | $529.59 | $612.33 | $27,735,687 | $32,068,947 | +$4,333,260 | +15.62% |
| Automatic Data Processing Inc. (ADP) | Equity | -32.52% | 2,601,567 | 4.27% | $223.95 | $271.22 | $582,620,930 | $705,597,002 | +$122,976,072 | +21.11% |
| Church & Dwight Co. Inc. (CHD) | Equity | -2.78% | 6,456,634 | 4.58% | $96.88 | $94.75 | $625,518,702 | $611,766,072 | -$13,752,630 | -2.20% |
| Doximity Inc. (DOCS) | Equity | -5.56% | 653,324 | 0.10% | $20.74 | $26.11 | $13,549,940 | $17,058,290 | +$3,508,350 | +25.89% |
| Interdigital Inc. (IDCC) | Equity | +100% | 60,324 | 0.13% | $283.13 | $323.05 | $17,079,534 | $19,487,668 | +$2,408,134 | +14.10% |
| Meta Platforms Inc. (META) | Equity | -20.40% | 1,051,876 | 4.34% | $563.29 | $665.75 | $592,511,232 | $700,286,447 | +$107,775,215 | +18.19% |
| Nextracker Inc. (NXT) | Equity | +100% | 2,856,092 | 2.49% | $119.14 | $80.47 | $340,274,801 | $229,829,723 | -$110,445,078 | -32.46% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +100% | 1,148,449 | 4.02% | $477.57 | $434.67 | $548,464,789 | $499,196,327 | -$49,268,462 | -8.98% |
| Uber Technologies Inc. (UBER) | Equity | +100% | 8,943,151 | 4.73% | $72.16 | $70.50 | $645,337,776 | $630,492,146 | -$14,845,630 | -2.30% |
| Alphabet Inc. (GOOGL) | Equity | -40.01% | 1,773,354 | 4.64% | $357.37 | $349.54 | $633,743,519 | $619,858,157 | -$13,885,362 | -2.19% |
| GE Vernova Inc. (GEV) | Equity | +100% | 409,835 | 3.53% | $1,174.86 | $940.33 | $481,498,748 | $385,380,146 | -$96,118,602 | -19.96% |
| Mastercard Inc. (MA) | Equity | +100% | 1,245,051 | 4.69% | $513.60 | $565.24 | $639,458,194 | $703,752,627 | +$64,294,433 | +10.05% |
| Sabre Corp. (SABR) | Equity | 0% | 9,013,783 | 0.14% | $2.09 | $2.26 | $18,838,806 | $20,371,150 | +$1,532,344 | +8.13% |
| Vertiv Holdings Co (VRT) | Equity | -54.09% | 41,893 | 0.10% | $334.82 | $249.39 | $14,026,614 | $10,447,695 | -$3,578,919 | -25.52% |
| Yum! Brands Inc. (YUM) | Equity | +100% | 556,107 | 0.65% | $159.86 | $137.99 | $88,899,265 | $76,737,205 | -$12,162,060 | -13.68% |
| Adma Biologics Inc. (ADMA) | Equity | 0% | 1,649,493 | 0.10% | $8.37 | $9.11 | $13,806,256 | $15,026,881 | +$1,220,625 | +8.84% |
| Fortinet Inc. (FTNT) | Equity | -41.04% | 3,629,938 | 4.09% | $153.62 | $169.84 | $557,631,076 | $616,508,670 | +$58,877,594 | +10.56% |
| Marriott International Inc. (MAR) | Equity | -23.29% | 2,585,757 | 7.02% | $370.59 | $338.92 | $958,255,687 | $876,364,762 | -$81,890,925 | -8.55% |
| MSCI Inc. (MSCI) | Equity | -17.30% | 53,580 | 0.22% | $560.04 | $552.87 | $30,006,943 | $29,622,775 | -$384,168 | -1.28% |
| O'Reilly Automotive Inc. (ORLY) | Equity | +100% | 162,691 | 0.11% | $92.09 | $84.71 | $14,982,214 | $13,781,555 | -$1,200,659 | -8.01% |
| Philip Morris International Inc. (PM) | Equity | -43.02% | 2,913,693 | 3.86% | $180.91 | $188.62 | $527,116,201 | $549,580,774 | +$22,464,573 | +4.26% |
| Verisign Inc. (VRSN) | Equity | -50.90% | 55,713 | 0.10% | $251.56 | $303.12 | $14,015,162 | $16,887,725 | +$2,872,563 | +20.50% |
| Waters Corp. (WAT) | Equity | -29.22% | 2,273,632 | 6.25% | $375.04 | $421.63 | $852,702,945 | $958,631,460 | +$105,928,515 | +12.42% |
| Fair Isaac Corp. (FICO) | Equity | +100% | 17,953 | 0.16% | $1,194.78 | $949.68 | $21,449,885 | $17,049,605 | -$4,400,280 | -20.51% |
| Microsoft Corp. (MSFT) | Equity | -23.22% | 1,596,737 | 4.36% | $373.02 | $493.78 | $595,614,836 | $788,436,796 | +$192,821,960 | +32.37% |
| Napco Security Technologies Inc. (NSSC) | Equity | +58.23% | 606,974 | 0.17% | $37.98 | $36.13 | $23,052,873 | $21,929,971 | -$1,122,902 | -4.87% |
| Paycom Software Inc. (PAYC) | Equity | -54.09% | 100,763 | 0.09% | $125.68 | $226.28 | $12,663,894 | $22,800,652 | +$10,136,758 | +80.04% |
| The Procter & Gamble Company (PG) | Equity | -2.89% | 4,078,371 | 4.38% | $146.64 | $146.39 | $598,052,323 | $597,032,731 | -$1,019,592 | -0.17% |
| Texas Instruments Inc. (TXN) | Equity | -31.41% | 1,799,182 | 3.93% | $298.07 | $266.64 | $536,282,179 | $479,733,888 | -$56,548,291 | -10.54% |
| Applovin Corp. (APP) | Equity | +100% | 696,568 | 2.63% | $515.23 | $308.06 | $358,892,731 | $214,584,738 | -$144,307,993 | -40.21% |
| Badger Meter Inc. (BMI) | Equity | +22.55% | 174,627 | 0.19% | $148.38 | $132.76 | $25,911,154 | $23,183,481 | -$2,727,673 | -10.53% |
| The Clorox Company (CLX) | Equity | +5.48% | 271,318 | 0.19% | $95.44 | $83.10 | $25,894,590 | $22,546,526 | -$3,348,064 | -12.93% |
| Idexx Laboratories Inc. (IDXX) | Equity | -30.42% | 1,019,887 | 3.93% | $526.44 | $511.65 | $536,909,312 | $521,825,184 | -$15,084,128 | -2.81% |
| Manhattan Associates Inc. (MANH) | Equity | +43.09% | 172,977 | 0.18% | $139.25 | $211.46 | $24,087,047 | $36,577,716 | +$12,490,669 | +51.86% |
| Nutanix Inc. (NTNX) | Equity | -6.77% | 538,281 | 0.20% | $50.96 | $69.80 | $27,430,800 | $37,572,014 | +$10,141,214 | +36.97% |
| Veeva Systems Inc. (VEEV) | Equity | +100% | 816,785 | 1.06% | $177.47 | $260.21 | $144,954,834 | $212,535,625 | +$67,580,791 | +46.62% |
| Visa Inc. (V) | Equity | -34.93% | 2,019,810 | 5.08% | $343.09 | $368.29 | $692,976,613 | $743,875,825 | +$50,899,212 | +7.35% |
| Netflix Inc. (NFLX) | Equity | +100% | 6,990,345 | 3.66% | $71.40 | $71.79 | $499,110,633 | $501,836,868 | +$2,726,235 | +0.55% |
| Rollins Inc. (ROL) | Equity | 0% | 619,935 | 0.19% | $41.74 | $32.43 | $25,876,087 | $20,104,492 | -$5,771,595 | -22.30% |
| Stryker Corp. (SYK) | Equity | -4.82% | 2,913,833 | 6.72% | $314.84 | $275.12 | $917,391,182 | $801,653,735 | -$115,737,447 | -12.62% |
| The Tjx Companies Inc. (TJX) | Equity | +100% | 2,272,592 | 2.52% | $151.50 | $127.24 | $344,297,688 | $289,164,606 | -$55,133,082 | -16.01% |