Terry Smith
Fundsmith LLP
Founder of Fundsmith, Terry Smith's investing philosophy is famously simple: buy good companies, don't overpay, do nothing.
As of June 30, 2026, the Terry Smith portfolio (Fundsmith LLP) holds 41 equity positions worth $13.6B. That is up 6.4% from $12.8B in Q1 2026. Over the quarter, the fund opened 13 new positions, exited 6, increased 4 and trimmed 21 (full breakdown below).
Portfolio as of June 30, 2026
| Company ↕ | Value ↓ | % ↕ | ||
|---|---|---|---|---|
| Loading… | ||||
Quarterly moves
Q1 2026 → Q2 2026
Portfolio value went from $12.8B to $13.6B (+6.4%) quarter over quarter.
Amount invested · % of portfolio
- UBER TECHNOLOGIES INC $645M · 4.7%
- MASTERCARD INCORPORATED $639M · 4.7%
- TAIWAN SEMICONDUCTOR MANUFAC $548M · 4.0%
- NETFLIX INC. $499M · 3.7%
- GE VERNOVA INC $481M · 3.5%
- APPLOVIN CORP $359M · 2.6%
- TJX COS INC NEW $344M · 2.5%
- NEXTPOWER INC $340M · 2.5%
Amount bought · (±%) · % of portfolio
- BADGER METER INC $5M (+22.6%) · 0.2%
- CLOROX CO DEL $1M (+5.5%) · 0.2%
- MANHATTAN ASSOCIATES INC $7M (+43.1%) · 0.2%
- NAPCO SEC TECHNOLOGIES INC $8M (+58.2%) · 0.2%
Amount sold · (±%) · % of portfolio
- MARRIOTT INTL INC NEW $257M (-23.3%) · 7.0%
- STRYKER CORPORATION $48M (-4.8%) · 6.7%
- WATERS CORP $279M (-29.2%) · 6.3%
- VISA INC $328M (-34.9%) · 5.1%
- ALPHABET INC $340M (-40%) · 4.6%
- CHURCH & DWIGHT CO INC $17M (-2.8%) · 4.6%
- PROCTER & GAMBLE CO $18M (-2.9%) · 4.4%
- MICROSOFT CORP $179M (-23.2%) · 4.4%
- METTLER TOLEDO INTERNATIONAL $717M
- ZOETIS INC $458M
- OTIS WORLDWIDE CORP $211M
- CATALYST PHARMACEUTICALS INC $21M
- QUALYS INC $20M
- HOME DEPOT INC $9M
Portfolio value over time
Top 10 holdings evolution as of June 30, 2026
Share of portfolio (%) since inception, top 10 as of the selected quarter.
Sector breakdown
Based on holdings matched to a stock referenced on the site.
Dividend aristocrats held
Stocks with at least 25 consecutive years of dividend growth.
- PROCTER & GAMBLE CO 55 yrs 2.9%
- AUTOMATIC DATA PROCESSING IN 41 yrs 1.2%
Frequently asked questions
What are Terry Smith's top holdings?
As of June 30, 2026, the top three holdings of Fundsmith LLP are MARRIOTT INTL INC NEW, STRYKER CORPORATION, WATERS CORP.
How many positions does Terry Smith hold?
Fundsmith LLP reports 41 equity positions worth $13.6B as of June 30, 2026.
Does Terry Smith invest in dividend stocks?
The weighted dividend yield of the covered portion of the portfolio is approximately 2.1%.
Data sourced from 13F filings submitted to the SEC, published with roughly 45 days of lag. A 13F only covers long positions in U.S.-traded securities: it excludes short sales, non-U.S. holdings and cash. Provided for informational purposes only and does not constitute investment advice.