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TS

Terry Smith Fundsmith LLP

AUM $13.6B
1-Year Est. Return 7.6%
 

Terry Smith is the founder and CEO of Fundsmith, a firm known for a concentrated portfolio of high-quality global companies. His approach favors simple, understandable businesses with high returns on capital and the ability to reinvest at attractive rates. Smith’s annual letters and plain-spoken commentary have made Fundsmith a frequent reference point for long-only quality investors.

This Fund
S&P 500
This Quarter Est. Return
+13.41%
1 Year Est. Return
+7.6%
3 Year Est. Return
+53.18%
5 Year Est. Return
+52.54%
10 Year Est. Return
+342.88%
AUM
$13.6B
AUM Growth
+$821M
Cap. Flow
-$623M
Cap. Flow %
-4.57%
Top 10 Hldgs %
52.45%
Holding
47
New
13
Increased
4
Reduced
21
Closed
6

Top Buys

Rank Stock Value
1
UBER icon
Uber
UBER
+$656M
2
MA icon
Mastercard
MA
+$621M
3
NFLX icon
Netflix
NFLX
+$616M
4
TSM icon
TSMC
TSM
+$466M
5
GEV icon
GE Vernova
GEV
+$418M

Top Sells

Rank Stock Value
1
MTD icon
Mettler-Toledo International
MTD
+$717M
2
ZTS icon
Zoetis
ZTS
+$458M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$426M
4
PM icon
Philip Morris
PM
+$381M
5
V icon
Visa
V
+$348M

Sector Composition

Rank Sector Weight
1 Technology 29.07%
2 Healthcare 18.37%
3 Communication Services 15.27%
4 Consumer Staples 13.02%
5 Consumer Discretionary 10.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MEDP icon
26
Medpace
MEDP
$17.3B
$27.7M 0.2%
52,372
-10,296
-16% -$4.75M
NTNX icon
27
Nutanix
NTNX
$18.3B
$27.4M 0.2%
538,281
-39,111
-7% -$1.77M
BMI icon
28
Badger Meter
BMI
$3.82B
$25.9M 0.19%
174,627
+32,136
+23% +$4.21M
CLX icon
29
Clorox
CLX
$12.9B
$25.9M 0.19%
271,318
+14,101
+5% +$1.35M
ROL icon
30
Rollins
ROL
$17.8B
$25.9M 0.19%
619,935
– –
MANH icon
31
Manhattan Associates
MANH
$12.5B
$24.1M 0.18%
172,977
+52,089
+43% +$7.18M
NSSC icon
32
Napco Security Technologies
NSSC
$1.36B
$23.1M 0.17%
606,974
+223,378
+58% +$8.87M
FICO icon
33
Fair Isaac
FICO
$25.3B
$21.4M 0.16%
+17,953
New +$20.1M
SABR icon
34
Sabre
SABR
$848M
$18.8M 0.14%
9,013,783
– –
IDCC icon
35
InterDigital
IDCC
$8.84B
$17.1M 0.13%
+60,324
New +$17.9M
ORLY icon
36
O'Reilly Automotive
ORLY
$72.1B
$15M 0.11%
+162,691
New +$14.8M
VRT icon
37
Vertiv
VRT
$101B
$14M 0.1%
41,893
-49,361
-54% -$15.7M
VRSN icon
38
VeriSign
VRSN
$25.5B
$14M 0.1%
55,713
-57,754
-51% -$16M
ADMA icon
39
ADMA Biologics
ADMA
$2.2B
$13.8M 0.1%
1,649,493
– –
DOCS icon
40
Doximity
DOCS
$4.51B
$13.5M 0.1%
653,324
-38,462
-6% -$851K
PAYC icon
41
Paycom
PAYC
$10.3B
$12.7M 0.09%
100,763
-118,694
-54% -$15.5M
CPRX
42
DELISTED
Catalyst Pharmaceutical
CPRX
– –
-844,887
Closed -$20.9M
HD icon
43
Home Depot
HD
$335B
– –
-28,611
Closed -$9.41M
MTD icon
44
Mettler-Toledo International
MTD
$28B
– –
-568,516
Closed -$717M
OTIS icon
45
Otis Worldwide
OTIS
$27.2B
– –
-2,731,635
Closed -$211M
QLYS icon
46
Qualys
QLYS
$6.3B
– –
-226,077
Closed -$19.9M
ZTS icon
47
Zoetis
ZTS
$32.1B
– –
-3,877,559
Closed -$458M
1
2

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Terry Smith's Q2 2026 Portfolio in Review

As of Q2 2026, Terry Smith held 47 positions worth $13.6B, up 6.4% from $12.8B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Terry Smith withdrew a net $623M in Q2 2026, closing 6 positions and reducing 21 holdings. Its most notable exit was Mettler-Toledo International, an estimated $717M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 21% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Terry Smith opened a new position in Uber worth $645M.

  • Terry Smith's largest Q2 2026 buy was Uber: 8,943,151 shares worth $645M.
  • Terry Smith added most to Napco Security Technologies in Q2 2026, an estimated $8.87M increase.
  • Terry Smith's biggest Q2 2026 reduction was Alphabet (Google) Class A, cutting an estimated $426M.
  • Terry Smith fully exited Mettler-Toledo International in Q2 2026, selling an estimated $717M.
  • Terry Smith's ten largest holdings make up 52% of its $13.6B portfolio in Q2 2026.
  • Terry Smith opened 13 new positions and closed 6 in Q2 2026.
  • Terry Smith's portfolio value rose 6.4% quarter-over-quarter to $13.6B.

Based on Fundsmith LLP's 13F filing for Q2 2026, filed 14 Aug 2026.