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.
Filings between 13Fs
Form 4 (insider trades, filed within 2 business days) and Schedule 13D/13G (stakes above 5%). Much fresher than a 13F, which can be 45 days old.
13G · passive stakeSabre CorpSABRMay 15, 2026
2.3% stake · 9.01M sharesSEC- 13G · passive stake
May 15, 2026
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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.