---
title: Terry Smith (Fundsmith LLP) — 13F holdings
canonical: https://sweetvaluelab.com/investors/terry-smith
cik: 0001569205
quarter: 2026-06-30
filed: 2026-08-14
---
# Terry Smith — Fundsmith LLP

Latest 13F for the quarter ended Jun 30, 2026, filed Aug 14, 2026: 41 positions worth $13.6B. Against the quarter ended Mar 31, 2026: 13 bought, 4 added to, 3 unchanged, 21 reduced, 6 sold. The top five are 30% of the portfolio, the top ten 52%; 29 of the positions have a research page on this site.

## Holdings

| Ticker | Issuer | Shares | Value | % of portfolio | Change this quarter |
| --- | --- | ---: | ---: | ---: | --- |
| MAR | MARRIOTT INTL INC NEW | 2,585,757 | $958.3M | 7.0% | reduced (-23%) |
| SYK | STRYKER CORPORATION | 2,913,833 | $917.4M | 6.7% | reduced (-5%) |
| WAT | WATERS CORP | 2,273,632 | $852.7M | 6.2% | reduced (-29%) |
| V | VISA INC | 2,019,810 | $693.0M | 5.1% | reduced (-35%) |
| UBER | UBER TECHNOLOGIES INC | 8,943,151 | $645.3M | 4.7% | bought |
| MA | MASTERCARD INCORPORATED | 1,245,051 | $639.5M | 4.7% | bought |
| GOOGL | ALPHABET INC | 1,773,354 | $633.7M | 4.6% | reduced (-40%) |
| CHD | CHURCH & DWIGHT CO INC | 6,456,634 | $625.5M | 4.6% | reduced (-3%) |
| PG | PROCTER & GAMBLE CO | 4,078,371 | $598.1M | 4.4% | reduced (-3%) |
| MSFT | MICROSOFT CORP | 1,596,737 | $595.6M | 4.4% | reduced (-23%) |
| META | META PLATFORMS INC | 1,051,876 | $592.5M | 4.3% | reduced (-20%) |
| ADP | AUTOMATIC DATA PROCESSING IN | 2,601,567 | $582.6M | 4.3% | reduced (-33%) |
| FTNT | FORTINET INC | 3,629,938 | $557.6M | 4.1% | reduced (-41%) |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1,148,449 | $548.5M | 4.0% | bought |
| IDXX | IDEXX LABS INC | 1,019,887 | $536.9M | 3.9% | reduced (-30%) |
| TXN | TEXAS INSTRS INC | 1,799,182 | $536.3M | 3.9% | reduced (-31%) |
| PM | PHILIP MORRIS INTL INC | 2,913,693 | $527.1M | 3.9% | reduced (-43%) |
| NFLX | NETFLIX INC. | 6,990,345 | $499.1M | 3.7% | bought |
| GEV | GE VERNOVA INC | 409,835 | $481.5M | 3.5% | bought |
| APP | APPLOVIN CORP | 696,568 | $358.9M | 2.6% | bought |
| TJX | TJX COS INC NEW | 2,272,592 | $344.3M | 2.5% | bought |
| NXT | NEXTPOWER INC | 2,856,092 | $340.3M | 2.5% | bought |
| VEEV | VEEVA SYS INC | 816,785 | $145.0M | 1.1% | bought |
| YUM | YUM BRANDS INC | 556,107 | $88.9M | 0.7% | bought |
| MSCI | MSCI INC | 53,580 | $30.0M | 0.2% | reduced (-17%) |
| MEDP | MEDPACE HLDGS INC | 52,372 | $27.7M | 0.2% | reduced (-16%) |
| NTNX | NUTANIX INC | 538,281 | $27.4M | 0.2% | reduced (-7%) |
| BMI | BADGER METER INC | 174,627 | $25.9M | 0.2% | added (+23%) |
| CLX | CLOROX CO DEL | 271,318 | $25.9M | 0.2% | added (+5%) |
| ROL | ROLLINS INC | 619,935 | $25.9M | 0.2% | held (0%) |
| MANH | MANHATTAN ASSOCIATES INC | 172,977 | $24.1M | 0.2% | added (+43%) |
| NSSC | NAPCO SEC TECHNOLOGIES INC | 606,974 | $23.1M | 0.2% | added (+58%) |
| FICO | FAIR ISAAC CORP | 17,953 | $21.4M | 0.2% | bought |
| SABR | SABRE CORP | 9,013,783 | $18.8M | 0.1% | held (0%) |
| IDCC | INTERDIGITAL INC | 60,324 | $17.1M | 0.1% | bought |
| ORLY | OREILLY AUTOMOTIVE INC | 162,691 | $15.0M | 0.1% | bought |
| VRT | VERTIV HOLDINGS CO | 41,893 | $14.0M | 0.1% | reduced (-54%) |
| VRSN | VERISIGN INC | 55,713 | $14.0M | 0.1% | reduced (-51%) |
| ADMA | ADMA BIOLOGICS INC | 1,649,493 | $13.8M | 0.1% | held (0%) |
| DOCS | DOXIMITY INC | 653,324 | $13.5M | 0.1% | reduced (-6%) |
| PAYC | PAYCOM SOFTWARE INC | 100,763 | $12.7M | 0.1% | reduced (-54%) |

## Largest moves this quarter

| Ticker | Issuer | Shares now | Shares before | Change | Bought / sold at reported prices | Value |
| --- | --- | ---: | ---: | --- | ---: | ---: |
| MTD | METTLER TOLEDO INTERNATIONAL | 0 | 568,516 | sold | −$717.0M | $0 |
| UBER | UBER TECHNOLOGIES INC | 8,943,151 | 0 | bought | +$645.3M | $645.3M |
| MA | MASTERCARD INCORPORATED | 1,245,051 | 0 | bought | +$639.5M | $639.5M |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1,148,449 | 0 | bought | +$548.5M | $548.5M |
| NFLX | NETFLIX INC. | 6,990,345 | 0 | bought | +$499.1M | $499.1M |
| GEV | GE VERNOVA INC | 409,835 | 0 | bought | +$481.5M | $481.5M |
| ZTS | ZOETIS INC | 0 | 3,877,559 | sold | −$458.4M | $0 |

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Source: https://sweetvaluelab.com/investors/terry-smith (SweetValueLab, free, no account). Holdings from SEC Form 13F-HR filings; tickers resolved from CUSIPs. Values as reported by the filer. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.