What stocks does Terry Smith own?

As of Q2 2026, Fundsmith reported 41 positions with a combined 13F value of $13.6B. Its largest stock positions are MAR ($958.3M), SYK ($917.4M) and WAT ($852.7M).

How often does Fundsmith update its portfolio?

Fundsmith files a 13F with the SEC every quarter, due 45 days after quarter end. The latest covers Q2 2026 and was filed Aug 14, 2026. The next one is due by Nov 16, 2026.

What does Fundsmith's 13F leave out?

A 13F lists long positions in US-listed stocks and some options held on the last day of a quarter. It leaves out short positions, most bonds, holdings not listed in the US and anything bought or sold since the quarter ended.

Where does Fundsmith's portfolio data come from?

From the 13F filings Fundsmith makes to the SEC, available on EDGAR. Each quarter shows how positions changed from the one before.

Smart money

Fundsmith LLP

Return history

Last 4 years · filing-date model

$100,000 to $176,321

$100,000 in SPY: $229,980.

Total return

+76.3%

Annualized (4Y CAGR)

+15.2%

vs SPY

−7.9 pts/yr

Moves a year

140

Avg hold

3.2 years

17 filings · quarters -3.8% to +12.3%

All time

+495% since May 24, 2013

Fund size $14B today

Oct 12, 2022 to Oct 11, 2026 · min. 98% quarterly priced · Disclosed book, unaudited · Method

Position-weighted returns use each SEC filing date. Options use underlying-stock proxies, not option premiums; put proxies can lose more than 100%. Cash, shorts, non-13F holdings and trades between filings are excluded.

New UBER and exited MTD in Q2 2026.

$13.6B in this filing41 positions

Holdings as of Jun 30, 2026. Filed Aug 14, 2026.

Share change vs Mar 31

1MARMarriott Intl Inc New7.02%
$958.3M - 2.6M shares-23.3%
2SYKStryker Corporation6.72%
$917.4M - 2.9M shares-4.8%
3WATWaters Corp6.25%
$852.7M - 2.3M shares-29.2%
4VVisa Inc5.08%
$693.0M - 2.0M shares-34.9%
5UBERUber Technologies Inc4.73%
$645.3M - 8.9M sharesNEW
6MAMastercard Incorporated4.69%
$639.5M - 1.2M sharesNEW
7GOOGLAlphabet Inc4.64%
$633.7M - 1.8M shares-40.0%
8CHDChurch & Dwight Co Inc4.58%
$625.5M - 6.5M shares-2.8%

#	Stock				At Jun 30	Now
1	MARMarriott Intl Inc New	7.02%	$958.3M	-23.3%	$370.59	$385.71 +4.1%
2	SYKStryker Corporation	6.72%	$917.4M	-4.8%	$314.84	$293.23 -6.9%
3	WATWaters Corp	6.25%	$852.7M	-29.2%	$375.04	$444.15 +18.4%
4	VVisa Inc	5.08%	$693.0M	-34.9%	$343.09	$403.42 +17.6%
5	UBERUber Technologies Inc	4.73%	$645.3M	NEW	$72.16	$71.27 -1.2%
6	MAMastercard Incorporated	4.69%	$639.5M	NEW	$513.60	$621.66 +21.0%
7	GOOGLAlphabet Inc	4.64%	$633.7M	-40.0%	$357.37	$348.45 -2.5%
8	CHDChurch & Dwight Co Inc	4.58%	$625.5M	-2.8%	$96.88	$103.08 +6.4%

33 more on a paid plan

Unlock the full portfolio and quarterly changes.

Unlock all 33 holdings

What is missing

Top 10 concentration: 52%. This filing does not include cash, short positions, private investments, bonds, or many overseas holdings. Next filing due ~Nov 16, 2026.

Disclosed changes

Q2 2026 holdings. Exact trade dates are not disclosed.

More disclosures (12)

Common questions

What stocks does Terry Smith own?: As of Q2 2026, Fundsmith reported 41 positions with a combined 13F value of $13.6B. Its largest stock positions are MAR ($958.3M), SYK ($917.4M) and WAT ($852.7M).
How often does Fundsmith update its portfolio?: Fundsmith files a 13F with the SEC every quarter, due 45 days after quarter end. The latest covers Q2 2026 and was filed Aug 14, 2026. The next one is due by Nov 16, 2026.
What does Fundsmith's 13F leave out?: A 13F lists long positions in US-listed stocks and some options held on the last day of a quarter. It leaves out short positions, most bonds, holdings not listed in the US and anything bought or sold since the quarter ended.
Where does Fundsmith's portfolio data come from?: From the 13F filings Fundsmith makes to the SEC, available on EDGAR. Each quarter shows how positions changed from the one before.