Fundsmith Equity 13F, Q2 2026
Terry Smith · quarter ending 30 June 2026 · filed 14 August 2026 · SEC CIK 1569205
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2026
The 25 largest of 41 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2026 filing.
| Company | Ticker | Value | % of book | vs Q1 2026 |
|---|---|---|---|---|
| MARRIOTT INTL INC NEW | MAR | $958.26M | 7.0% | -23% shares |
| STRYKER CORPORATION | SYK | $917.39M | 6.7% | -5% shares |
| WATERS CORP | WAT | $852.70M | 6.3% | -29% shares |
| VISA INC | V | $692.98M | 5.1% | -35% shares |
| UBER TECHNOLOGIES INC | UBER | $645.34M | 4.7% | new |
| MASTERCARD INCORPORATED | MA | $639.46M | 4.7% | new |
| ALPHABET INC | GOOGL | $633.74M | 4.6% | -40% shares |
| CHURCH & DWIGHT CO INC | CHD | $625.52M | 4.6% | -3% shares |
| PROCTER & GAMBLE CO | PG | $598.05M | 4.4% | -3% shares |
| MICROSOFT CORP | MSFT | $595.61M | 4.4% | -23% shares |
| META PLATFORMS INC | META | $592.51M | 4.3% | -20% shares |
| AUTOMATIC DATA PROCESSING IN | ADP | $582.62M | 4.3% | -33% shares |
| FORTINET INC | FTNT | $557.63M | 4.1% | -41% shares |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $548.46M | 4.0% | new |
| IDEXX LABS INC | IDXX | $536.91M | 3.9% | -30% shares |
| TEXAS INSTRS INC | TXN | $536.28M | 3.9% | -31% shares |
| PHILIP MORRIS INTL INC | PM | $527.12M | 3.9% | -43% shares |
| NETFLIX INC. | NFLX | $499.11M | 3.7% | new |
| GE VERNOVA INC | GEV | $481.50M | 3.5% | new |
| APPLOVIN CORP | APP | $358.89M | 2.6% | new |
| TJX COS INC NEW | TJX | $344.30M | 2.5% | new |
| NEXTPOWER INC | NXT | $340.27M | 2.5% | new |
| VEEVA SYS INC | VEEV | $144.95M | 1.1% | new |
| YUM BRANDS INC | YUM | $88.90M | 0.7% | new |
| MSCI INC | MSCI | $30.01M | 0.2% | -17% shares |
What changed since Q1 2026
Against the Q1 2026 filing, Fundsmith Equity opened 13 new positions, added to 4, trimmed 21, left 3 unchanged and exited 6. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 5 more
Other quarters
Source: SEC Form 13F-HR, accession 0001569205-26-000012, 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.