# Fundsmith portfolio: Q2 2026 13F holdings | moatshark

Terry Smith’s Fundsmith: $14bn in 41 US holdings at Q2 2026, with buys and sells. Top: Marriott International, Stryker, Waters, Visa, Uber Technologies.

In Q2 2026, Fundsmith held 41 US-listed stocks worth $14bn. Its biggest move was selling all of its Mettler-Toledo International (5.6% the quarter before), followed by buying Uber Technologies (now 4.7% of the portfolio). It started 13 new positions and sold out of 6. Its largest holding is Marriott International at 7.0%.

13F for the quarter ending 2026-06-30, filed 2026-08-14 ([filing](https://www.sec.gov/Archives/edgar/data/1569205/000156920526000012/0001569205-26-000012-index.htm)). $14bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Marriott International (MAR) | $958m | 7.0% | Trimmed -23% | 8.6% |
| Stryker (SYK) | $917m | 6.7% | Trimmed -4.8% | 7.8% |
| Waters (WAT) | $853m | 6.3% | Trimmed -29% | 7.5% |
| Visa (V) | $693m | 5.1% | Trimmed -35% | 7.3% |
| Uber Technologies (UBER) | $645m | 4.7% | New | – |
| Mastercard (MA) | $639m | 4.7% | New | – |
| Alphabet (GOOG) | $634m | 4.6% | Trimmed -40% | 6.6% |
| Church & Dwight (CHD) | $626m | 4.6% | Trimmed -2.8% | 4.8% |
| Procter & Gamble (PG) | $598m | 4.4% | Trimmed -2.9% | 4.7% |
| Microsoft (MSFT) | $596m | 4.4% | Trimmed -23% | 6.0% |
| Meta Platforms (META) | $593m | 4.3% | Trimmed -20% | 5.9% |
| Automatic Data Processing (ADP) | $583m | 4.3% | Trimmed -32% | 6.1% |
| Fortinet (FTNT) | $558m | 4.1% | Trimmed -41% | 3.9% |
| Taiwan Semiconductor Manufacturing (TSM) | $548m | 4.0% | New | – |
| IDEXX Laboratories (IDXX) | $537m | 3.9% | Trimmed -30% | 6.4% |
| Texas Instruments (TXN) | $536m | 3.9% | Trimmed -31% | 4.0% |
| Philip Morris International (PM) | $527m | 3.9% | Trimmed -43% | 6.6% |
| Netflix (NFLX) | $499m | 3.7% | New | – |
| Ge Vernova (GEV) | $481m | 3.5% | New | – |
| Applovin (APP) | $359m | 2.6% | New | – |
| TJX Companies (TJX) | $344m | 2.5% | New | – |
| Nextpower (NXT) | $340m | 2.5% | New | – |
| Veeva Systems (VEEV) | $145m | 1.1% | New | – |
| Yum! Brands (YUM) | $88.9m | 0.7% | New | – |
| MSCI (MSCI) | $30.0m | 0.2% | Trimmed -17% | 0.3% |
| Medpace Holdings (MEDP) | $27.7m | 0.2% | Trimmed -16% | 0.2% |
| Nutanix (NTNX) | $27.4m | 0.2% | Trimmed -6.8% | 0.2% |
| Badger Meter (BMI) | $25.9m | 0.2% | Added +23% | 0.2% |
| Clorox Company (CLX) | $25.9m | 0.2% | Added +5.5% | 0.2% |
| Rollins (ROL) | $25.9m | 0.2% | Unchanged | 0.3% |
| Manhattan Associates (MANH) | $24.1m | 0.2% | Added +43% | 0.1% |
| Napco Security Technologies (NSSC) | $23.1m | 0.2% | Added +58% | 0.1% |
| Fair Isaac (FICO) | $21.4m | 0.2% | New | – |
| Sabre (SABR) | $18.8m | 0.1% | Unchanged | 0.1% |
| Interdigital (IDCC) | $17.1m | 0.1% | New | – |
| O'Reilly Automotive (ORLY) | $15.0m | 0.1% | New | – |
| Vertiv Holdings (VRT) | $14.0m | 0.1% | Trimmed -54% | 0.2% |
| Verisign (VRSN) | $14.0m | 0.1% | Trimmed -51% | 0.2% |
| Adma Biologics (ADMA) | $13.8m | 0.1% | Unchanged | 0.1% |
| Doximity (DOCS) | $13.5m | 0.1% | Trimmed -5.6% | 0.1% |
| Paycom Software (PAYC) | $12.7m | 0.1% | Trimmed -54% | 0.2% |
| Mettler-Toledo International (MTD) | – | – | Sold out | 5.6% |
| Zoetis (ZTS) | – | – | Sold out | 3.6% |
| Otis Worldwide (OTIS) | – | – | Sold out | 1.6% |
| Catalyst Pharmaceuticals (CPRX) | – | – | Sold out | 0.2% |
| Qualys (QLYS) | – | – | Sold out | 0.1% |
| Home Depot (HD) | – | – | Sold out | 0.1% |

## Fundsmith Equity ETF (as at 2026-06-30)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Waters (WAT) | US | 5.6% | Trimmed -6.0% |
| Amadeus IT Group (AMS) | ES | 5.0% | Trimmed -32% |
| Stryker (SYK) | US | 4.7% | Trimmed -4.7% |
| Yum! Brands (YUM) | US | 4.1% | New |
| Mastercard (MA) | US | 4.0% | New |
| Visa (V) | US | 4.0% | Trimmed -34% |
| Uber Technologies (UBER) | US | 3.8% | New |
| Philip Morris International (PM) | US | 3.7% | Trimmed -48% |
| Church & Dwight (CHD) | US | 3.7% | Trimmed -48% |
| Alphabet (GOOGL) | US | 3.6% | Trimmed -49% |
| Microsoft (MSFT) | US | 3.4% | Trimmed -22% |
| Tjx Cos (TJX) | US | 3.3% | Trimmed -48% |
| Taiwan Semiconductor Manufacturing (TSM) | TW | 3.3% | Trimmed -81% |
| Nextpower (NXT) | US | 3.2% | New |
| L'Oreal (OR) | FR | 3.2% | Trimmed -48% |
| Texas Instruments (TXN) | US | 3.1% | Trimmed -83% |
| Legrand (LR) | FR | 3.0% | New |
| Veeva Systems (VEEV) | US | 3.0% | New |
| Sage Group (SGE) | GB | 3.0% | Trimmed -63% |
| Fortinet (FTNT) | US | 2.9% | New |
| Procter & Gamble (PG) | US | 2.9% | New |
| Marriott International (MAR) | US | 2.9% | Trimmed -60% |
| Meta Platforms (META) | US | 2.9% | Trimmed -48% |
| Netflix (NFLX) | US | 2.9% | New |
| Automatic Data Processing (ADP) | US | 2.8% | Trimmed -48% |
| Ge Vernova (GEV) | US | 2.7% | New |
| Applovin (APP) | US | 2.1% | New |
| IDEXX Laboratories (IDXX) | US | 1.8% | Trimmed -56% |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/fundsmith). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.