Photo: Office of the Governor-General of New Zealand, CC BY 4.0, via Wikimedia Commons
Terry Smith
Fundsmith LLP · Quality growth Buys a small number of high-return-on-capital global businesses at reasonable prices and holds them with very low turnover - 'buy good companies, don't overpay, do nothing'; the 13F covers only its US-listed holdings.
Terence 'Terry' Smith is an English fund manager, the founder and CEO of Fundsmith, and previously CEO of Tullett Prebon and Collins Stewart.
Showing all 41 reported 13(f) positions; TradingPilot links only the 9 matching its curated universe — a licensed CUSIP↔ticker database was not used. Unmapped positions render as plain text, exactly as filed.
Portfolio allocation (reported 13F equity)
Long US-listed equity positions only; options excluded.
- MARRIOTT INTL INC NEW7.0%
- STRYKER CORPORATION6.7%
- WATERS CORP6.2%
- V5.1%
- UBER TECHNOLOGIES INC4.7%
- MASTERCARD INCORPORATED4.7%
- GOOGL4.6%
- CHURCH & DWIGHT CO INC4.6%
- PROCTER & GAMBLE CO4.4%
- MSFT4.4%
- Others47.5%
Reported 13F equity value — not a return, not AUM
Long US-listed equity positions only; filed with a ~45-day lag.
| # | Ticker | Security (as filed) | % of 13F | Shares | Reported price | Current | Value | Activity |
|---|---|---|---|---|---|---|---|---|
| 1 | — | MARRIOTT INTL INC NEW | 7.0% | 2,585,757 | $370.59 | — | $958.3M | Trimmed −23% |
| 2 | — | STRYKER CORPORATION | 6.7% | 2,913,833 | $314.84 | — | $917.4M | Trimmed −5% |
| 3 | — | WATERS CORP | 6.2% | 2,273,632 | $375.04 | — | $852.7M | New |
| 4 | V | VISA INC | 5.1% | 2,019,810 | $343.09 | $410.54 +19.7% | $693.0M | Trimmed −35% |
| 5 | — | UBER TECHNOLOGIES INC | 4.7% | 8,943,151 | $72.16 | — | $645.3M | New |
| 6 | — | MASTERCARD INCORPORATED | 4.7% | 1,245,051 | $513.60 | — | $639.5M | New |
| 7 | GOOGL | ALPHABET INC | 4.6% | 1,773,354 | $357.37 | $283.82 -20.6% | $633.7M | Trimmed −40% |
| 8 | — | CHURCH & DWIGHT CO INC | 4.6% | 6,456,634 | $96.88 | — | $625.5M | Trimmed −3% |
| 9 | — | PROCTER & GAMBLE CO | 4.4% | 4,078,371 | $146.64 | — | $598.1M | Trimmed −3% |
| 10 | MSFT | MICROSOFT CORP | 4.4% | 1,596,737 | $373.02 | $530.14 +42.1% | $595.6M | Trimmed −23% |
| 11 | META | META PLATFORMS INC | 4.3% | 1,051,876 | $563.29 | $624.52 +10.9% | $592.5M | Trimmed −20% |
| 12 | — | AUTOMATIC DATA PROCESSING IN | 4.3% | 2,601,567 | $223.95 | — | $582.6M | Trimmed −33% |
| 13 | — | FORTINET INC | 4.1% | 3,629,938 | $153.62 | — | $557.6M | Trimmed −41% |
| 14 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 4.0% | 1,148,449 | $477.57 | $431.81 -9.6% | $548.5M | New |
| 15 | — | IDEXX LABS INC | 3.9% | 1,019,887 | $526.44 | — | $536.9M | Trimmed −30% |
| 16 | — | TEXAS INSTRS INC | 3.9% | 1,799,182 | $298.07 | — | $536.3M | Trimmed −31% |
| 17 | — | PHILIP MORRIS INTL INC | 3.9% | 2,913,693 | $180.91 | — | $527.1M | Trimmed −43% |
| 18 | NFLX | NETFLIX INC. | 3.7% | 6,990,345 | $71.40 | $62.05 -13.1% | $499.1M | New |
| 19 | GEV | GE VERNOVA INC | 3.5% | 409,835 | $1,174.86 | $887.85 -24.4% | $481.5M | New |
| 20 | APP | APPLOVIN CORP | 2.6% | 696,568 | $515.23 | $254.91 -50.5% | $358.9M | New |
| 21 | — | TJX COS INC NEW | 2.5% | 2,272,592 | $151.50 | — | $344.3M | New |
| 22 | — | NEXTPOWER INC | 2.5% | 2,856,092 | $119.14 | — | $340.3M | New |
| 23 | — | VEEVA SYS INC | 1.1% | 816,785 | $177.47 | — | $145.0M | New |
| 24 | — | YUM BRANDS INC | 0.7% | 556,107 | $159.86 | — | $88.9M | New |
| 25 | — | MSCI INC | 0.2% | 53,580 | $560.04 | — | $30.0M | Trimmed −17% |
| 26 | — | MEDPACE HLDGS INC | 0.2% | 52,372 | $529.59 | — | $27.7M | New |
| 27 | — | NUTANIX INC | 0.2% | 538,281 | $50.96 | — | $27.4M | Trimmed −7% |
| 28 | — | BADGER METER INC | 0.2% | 174,627 | $148.38 | — | $25.9M | Added +23% |
| 29 | — | CLOROX CO DEL | 0.2% | 271,318 | $95.44 | — | $25.9M | Added +5% |
| 30 | — | ROLLINS INC | 0.2% | 619,935 | $41.74 | — | $25.9M | Held +0% |
| 31 | — | MANHATTAN ASSOCIATES INC | 0.2% | 172,977 | $139.25 | — | $24.1M | Added +43% |
| 32 | — | NAPCO SEC TECHNOLOGIES INC | 0.2% | 606,974 | $37.98 | — | $23.1M | Added +58% |
| 33 | — | FAIR ISAAC CORP | 0.2% | 17,953 | $1,194.78 | — | $21.4M | New |
| 34 | — | SABRE CORP | 0.1% | 9,013,783 | $2.09 | — | $18.8M | Held +0% |
| 35 | — | INTERDIGITAL INC | 0.1% | 60,324 | $283.13 | — | $17.1M | New |
| 36 | — | OREILLY AUTOMOTIVE INC | 0.1% | 162,691 | $92.09 | — | $15.0M | New |
| 37 | VRT | VERTIV HOLDINGS CO | 0.1% | 41,893 | $334.82 | $245.92 -26.6% | $14.0M | Trimmed −54% |
| 38 | — | VERISIGN INC | 0.1% | 55,713 | $251.56 | — | $14.0M | Trimmed −51% |
| 39 | — | ADMA BIOLOGICS INC | 0.1% | 1,649,493 | $8.37 | — | $13.8M | Held +0% |
| 40 | — | DOXIMITY INC | 0.1% | 653,324 | $20.74 | — | $13.5M | Trimmed −6% |
| 41 | — | PAYCOM SOFTWARE INC | 0.1% | 100,763 | $125.68 | — | $12.7M | Trimmed −54% |
| — | — | CATALYST PHARMACEUTICALS INC | — | 0 | — | — | $0 | Sold-Out −100% |
| — | — | HOME DEPOT INC | — | 0 | — | — | $0 | Sold-Out −100% |
| — | — | OTIS WORLDWIDE CORP | — | 0 | — | — | $0 | Sold-Out −100% |
| — | — | QUALYS INC | — | 0 | — | — | $0 | Sold-Out −100% |
| — | — | ZOETIS INC | — | 0 | — | — | $0 | Sold-Out −100% |
Reported price = value ÷ shares at the quarter-end — an average, NOT the manager's buy/sell price.
Current shows the stock's price change since the filing quarter-end (mapped names only) — it is the STOCK's move, not the manager's realized return (we don't know their cost basis or whether they still hold).
TradingPilot analysis of the reported 13F equity book
As of 2026Q2, Terry Smith's reported 13F book holds 41 equity positions; the top 5 are 30% of it.
- MARRIOTT INTL INC NEW — 7.0% of 13F
- STRYKER CORPORATION — 6.7% of 13F
- WATERS CORP — 6.2% of 13F
- VISA INC (V) — 5.1% of 13F
- UBER TECHNOLOGIES INC — 4.7% of 13F
This quarter: 15 new, 4 added, 19 trimmed, 5 sold out.
- ZOETIS INC — Sold-Out (−3,877,559 sh)
- OTIS WORLDWIDE CORP — Sold-Out (−2,731,635 sh)
- FORTINET INC — Trimmed (−2,526,737 sh)
- PHILIP MORRIS INTL INC — Trimmed (−2,199,470 sh)
- AUTOMATIC DATA PROCESSING IN — Trimmed (−1,253,538 sh)