Terry Smith
Fundsmith
Founder of Fundsmith. Buys high-return quality companies and aims to do nothing - low turnover is the point.
13F portfolio value
Q2 2026
$13.65B
1-year growth
-40.7%
2-year growth
-44.4%
Positions
41
Top 10 share
52.5%
Quarterly turnover
30.5%
Last filed
Aug 14, 2026
Q2 2026: summary
MakklerAI- Fundsmith’s 13F portfolio was valued at $13.6B across 41 positions, with its top 10 holdings making up 52.5%.
- Turnover jumped to 30.5% from 0.2% in the prior quarter; the portfolio grew from 34 to 41 positions, including 13 new holdings.
- New positions included UBER at $645M, MA at $639M, TSM at $548M and NFLX at $499M.
- Fundsmith cut GOOGL by 40.0% and FTNT by 41.0%, and sold out of MTD and ZTS.
PROStill at the same price?
A 13F arrives 45 days late. See the estimated buy price of the other 39 positions, the move since, and where each stands against Makkler Fair Value with MakklerPRO.
MARMarriott International, Inc. Class A7.0%-23.3%- Price
- $371.50
- Since est. buy
- +0.7%
- Fair Value gap
- +0.6%
SYKStryker Corporation6.7%-4.8%- Price
- $282.55
- Since est. buy
- -10.3%
- Fair Value gap
- +83.5%
WATWaters Corporation6.2%-29.2%- Price
- $429.17
- Since est. buy
- Fair Value gap
VVisa Inc. Class A5.1%-34.9%- Price
- $396.06
- Since est. buy
- Fair Value gap
UBERUber Technologies, Inc.4.7%New- Price
- $71.32
- Since est. buy
- Fair Value gap
MAMastercard Incorporated Class A4.7%New- Price
- $604.80
- Since est. buy
- Fair Value gap
GOOGLAlphabet Inc. Class A4.6%-40.0%- Price
- $353.78
- Since est. buy
- Fair Value gap
CHDChurch & Dwight Co., Inc.4.6%-2.8%- Price
- $100.13
- Since est. buy
- Fair Value gap
PGProcter & Gamble Company4.4%-2.9%- Price
- $153.04
- Since est. buy
- Fair Value gap
MSFTMicrosoft Corporation4.4%-23.2%- Price
- $543.45
- Since est. buy
- Fair Value gap
METAMeta Platforms Inc Class A4.3%-20.4%- Price
- $762.50
- Since est. buy
- Fair Value gap
ADPAutomatic Data Processing, Inc.4.3%-32.5%- Price
- $275.90
- Since est. buy
- Fair Value gap
FTNTFortinet, Inc.4.1%-41.0%- Price
- $190.76
- Since est. buy
- Fair Value gap
TSMTaiwan Semiconductor-Sp Adr4.0%New- Price
- $445.12
- Since est. buy
- Fair Value gap
IDXXIDEXX Laboratories, Inc.3.9%-30.4%- Price
- $520.31
- Since est. buy
- Fair Value gap
TXNTexas Instruments Incorporated3.9%-31.4%- Price
- $287.85
- Since est. buy
- Fair Value gap
PMPhilip Morris International Inc.3.9%-43.0%- Price
- $199.29
- Since est. buy
- Fair Value gap
NFLXNetflix, Inc.3.7%New- Price
- $70.46
- Since est. buy
- Fair Value gap
GEVGE Vernova Inc.3.5%New- Price
- $1,004.04
- Since est. buy
- Fair Value gap
APPAppLovin Corp. Class A2.6%New- Price
- $272.28
- Since est. buy
- Fair Value gap
TJXTJX Companies Inc2.5%New- Price
- $141.49
- Since est. buy
- Fair Value gap
NXTNextpower Inc.2.5%New- Price
- $88.77
- Since est. buy
- Fair Value gap
VEEVVeeva Systems Inc. Class A1.1%New- Price
- $301.63
- Since est. buy
- Fair Value gap
YUMYum! Brands, Inc.0.7%New- Price
- $147.06
- Since est. buy
- Fair Value gap
MSCIMSCI Inc. Class A0.2%-17.3%- Price
- $560.82
- Since est. buy
- Fair Value gap
MEDPMedpace Holdings, Inc.0.2%-16.4%- Price
- $609.89
- Since est. buy
- Fair Value gap
NTNXNutanix, Inc. Class A0.2%-6.8%- Price
- $72.88
- Since est. buy
- Fair Value gap
BMIBadger Meter, Inc.0.2%+22.6%- Price
- $131.25
- Since est. buy
- Fair Value gap
CLXClorox Company0.2%+5.5%- Price
- $84.45
- Since est. buy
- Fair Value gap
ROLRollins, Inc.0.2%Unchanged- Price
- $32.15
- Since est. buy
- Fair Value gap
MANHManhattan Associates, Inc.0.2%+43.1%- Price
- $222.71
- Since est. buy
- Fair Value gap
NSSCNAPCO Security Technologies, Inc.0.2%+58.2%- Price
- $36.18
- Since est. buy
- Fair Value gap
FICOFair Isaac Corporation0.2%New- Price
- $723.03
- Since est. buy
- Fair Value gap
SABRSabre Corporation0.1%Unchanged- Price
- $1.81
- Since est. buy
- Fair Value gap
IDCCInterDigital, Inc.0.1%New- Price
- $332.88
- Since est. buy
- Fair Value gap
ORLYO'Reilly Automotive, Inc.0.1%New- Price
- $86.03
- Since est. buy
- Fair Value gap
VRTVertiv Holdings Co. Class A0.1%-54.1%- Price
- $237.29
- Since est. buy
- Fair Value gap
VRSNVeriSign, Inc.0.1%-50.9%- Price
- $301.76
- Since est. buy
- Fair Value gap
ADMAADMA Biologics, Inc.0.1%Unchanged- Price
- $10.31
- Since est. buy
- Fair Value gap
DOCSDoximity, Inc. Class A<0.1%-5.6%- Price
- $30.55
- Since est. buy
- Fair Value gap
PAYCPaycom Software, Inc.<0.1%-54.1%- Price
- $236.65
- Since est. buy
- Fair Value gap
Values are US dollar amounts as of the filing. The estimated buy price is the quarter's average close; Fair Value is the same model as on Makkler's stock pages.
MakklerAI
Ask MakklerAI about Terry Smith's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.