Fundsmith Equity 13F, Q1 2026
Terry Smith · quarter ending 31 March 2026 · filed 15 May 2026 · SEC CIK 1569205
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2026
The 25 largest of 34 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2025 filing.
| Company | Ticker | Value | % of book | vs Q4 2025 |
|---|---|---|---|---|
| MARRIOTT INTL INC NEW | MAR | $1.10B | 8.6% | -15% shares |
| STRYKER CORPORATION | SYK | $1.01B | 7.8% | -17% shares |
| WATERS CORP | WAT | $956.56M | 7.5% | -10% shares |
| VISA INC | V | $938.18M | 7.3% | -12% shares |
| ALPHABET INC | GOOGL | $850.08M | 6.6% | -16% shares |
| PHILIP MORRIS INTL INC | PM | $845.41M | 6.6% | -17% shares |
| IDEXX LABS INC | IDXX | $823.61M | 6.4% | -22% shares |
| AUTOMATIC DATA PROCESSING IN | ADP | $783.28M | 6.1% | -8% shares |
| MICROSOFT CORP | MSFT | $769.86M | 6.0% | unchanged |
| META PLATFORMS INC | META | $756.00M | 5.9% | -3% shares |
| METTLER TOLEDO INTERNATIONAL | MTD | $717.01M | 5.6% | -2% shares |
| CHURCH & DWIGHT CO INC | CHD | $619.79M | 4.8% | unchanged |
| PROCTER & GAMBLE CO | PG | $606.64M | 4.7% | unchanged |
| TEXAS INSTRS INC | TXN | $509.25M | 4.0% | unchanged |
| FORTINET INC | FTNT | $503.12M | 3.9% | -6% shares |
| ZOETIS INC | ZTS | $458.37M | 3.6% | unchanged |
| OTIS WORLDWIDE CORP | OTIS | $210.55M | 1.6% | -12% shares |
| MSCI INC | MSCI | $34.92M | 0.3% | -61% shares |
| ROLLINS INC | ROL | $33.11M | 0.3% | -58% shares |
| MEDPACE HLDGS INC | MEDP | $30.09M | 0.2% | -24% shares |
| VERISIGN INC | VRSN | $28.18M | 0.2% | -58% shares |
| PAYCOM SOFTWARE INC | PAYC | $26.67M | 0.2% | -58% shares |
| CLOROX CO DEL | CLX | $26.66M | 0.2% | -58% shares |
| VERTIV HOLDINGS CO | VRT | $22.87M | 0.2% | -78% shares |
| NUTANIX INC | NTNX | $21.95M | 0.2% | -58% shares |
What changed since Q4 2025
Against the Q4 2025 filing, Fundsmith Equity opened 1 new position, added to 0, trimmed 28, left 5 unchanged and exited 4. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001569205-26-000005, filed by Fundsmith LLP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.