# Terry Smith — Fundsmith

Source: SEC EDGAR 13F filings (CIK 0001569205).
Page URL: https://superinvestorclub.com/manager/23
Last updated: 2026-07-08T11:20:30.284Z

## Summary

As of the 2026-03-31 reporting period (filed 2026-05-15), Terry Smith reported 34 long equity positions in their Fundsmith 13F filing, with a total reported value of $12.83B.

### About

Quality growth investor

## Top 25 holdings

| Rank | Ticker | Company | Shares | Value | % of Portfolio | Change |
|------|--------|---------|--------|-------|----------------|--------|
| 1 | MAR | MARRIOTT INTL INC NEW | 3370872 | $1.10B | 8.59% | -15.3% |
| 2 | SYK | STRYKER CORPORATION | 3061416 | $1.01B | 7.84% | -17.0% |
| 3 | WAT | WATERS CORP | 3212075 | $956.6M | 7.46% | -9.7% |
| 4 | V | VISA INC | 3104090 | $938.2M | 7.31% | -12.2% |
| 5 | GOOGL | ALPHABET INC | 2956198 | $850.1M | 6.63% | -15.5% |
| 6 | PM | PHILIP MORRIS INTL INC | 5113163 | $845.4M | 6.59% | -16.5% |
| 7 | IDXX | IDEXX LABS INC | 1465786 | $823.6M | 6.42% | -21.9% |
| 8 | ADP | AUTOMATIC DATA PROCESSING IN | 3855105 | $783.3M | 6.11% | -7.7% |
| 9 | MSFT | MICROSOFT CORP | 2079737 | $769.9M | 6.00% | -0.0% |
| 10 | META | META PLATFORMS INC | 1321375 | $756.0M | 5.89% | -3.1% |
| 11 | MTD | METTLER TOLEDO INTERNATIONAL | 568516 | $717.0M | 5.59% | -2.1% |
| 12 | CHD | CHURCH & DWIGHT CO INC | 6641508 | $619.8M | 4.83% | -1.3% |
| 13 | PG | PROCTER & GAMBLE CO | 4199914 | $606.6M | 4.73% | -1.1% |
| 14 | TXN | TEXAS INSTRS INC | 2623124 | $509.3M | 3.97% | -0.0% |
| 15 | FTNT | FORTINET INC | 6156675 | $503.1M | 3.92% | -5.5% |
| 16 | ZBH | ZOETIS INC | 3877559 | $458.4M | 3.57% | -0.6% |
| 17 | OTIS | OTIS WORLDWIDE CORP | 2731635 | $210.6M | 1.64% | -12.2% |
| 18 | MSCI | MSCI INC | 64788 | $34.9M | 0.27% | +-61.1% |
| 19 | ROL | ROLLINS INC | 619935 | $33.1M | 0.26% | +-58.1% |
| 20 | MEDP | MEDPACE HLDGS INC | 62668 | $30.1M | 0.23% | -24.1% |
| 21 | VRSN | VERISIGN INC | 113467 | $28.2M | 0.22% | -58.1% |
| 22 | PYPL | PAYCOM SOFTWARE INC | 219457 | $26.7M | 0.21% | -58.1% |
| 23 | CLX | CLOROX CO DEL | 257217 | $26.7M | 0.21% | -58.1% |
| 24 | VRT | VERTIV HOLDINGS CO | 91254 | $22.9M | 0.18% | +-77.8% |
| 25 | NTNX | NUTANIX INC | 577392 | $21.9M | 0.17% | +-58.1% |

## New positions this quarter (1)

- BMI (BADGER METER INC): 142491 shares, $21.7M

## Increased positions (8)

- MSCI: 64788 shares (-61.1%), $34.9M
- ROL: 619935 shares (-58.1%), $33.1M
- VRT: 91254 shares (-77.8%), $22.9M
- NTNX: 577392 shares (-58.1%), $21.9M
- CPRX: 844887 shares (-74.9%), $20.9M
- DOCS: 691786 shares (-58.1%), $16.1M
- NSSC: 383596 shares (-78.4%), $15.1M
- SABR: 9013783 shares (-58.1%), $13.1M

## Reduced positions (25)

- MAR: 3370872 shares (-15.3%), $1.10B
- SYK: 3061416 shares (-17.0%), $1.01B
- WAT: 3212075 shares (-9.7%), $956.6M
- V: 3104090 shares (-12.2%), $938.2M
- GOOGL: 2956198 shares (-15.5%), $850.1M
- PM: 5113163 shares (-16.5%), $845.4M
- IDXX: 1465786 shares (-21.9%), $823.6M
- ADP: 3855105 shares (-7.7%), $783.3M
- MSFT: 2079737 shares (-0.0%), $769.9M
- META: 1321375 shares (-3.1%), $756.0M
- MTD: 568516 shares (-2.1%), $717.0M
- CHD: 6641508 shares (-1.3%), $619.8M
- PG: 4199914 shares (-1.1%), $606.6M
- TXN: 2623124 shares (-0.0%), $509.3M
- FTNT: 6156675 shares (-5.5%), $503.1M
- ZBH: 3877559 shares (-0.6%), $458.4M
- OTIS: 2731635 shares (-12.2%), $210.6M
- MEDP: 62668 shares (-24.1%), $30.1M
- VRSN: 113467 shares (-58.1%), $28.2M
- PYPL: 219457 shares (-58.1%), $26.7M

## Sold positions (4)

- INTU: previously held 625619 shares worth $414.4M
- NKE: previously held 5770181 shares worth $367.6M
- ODD: previously held 2074167 shares worth $83.3M
- GGG: previously held 579016 shares worth $47.5M

## Filing history (9)

- 2026-03-31 (filed 2026-05-15)
- 2025-12-31 (filed 2026-02-17)
- 2025-09-30 (filed 2025-11-14)
- 2025-06-30 (filed 2025-08-14)
- 2025-03-31 (filed 2025-05-15)
- 2024-12-31 (filed 2025-02-14)
- 2024-09-30 (filed 2024-11-14)
- 2024-06-30 (filed 2024-08-14)
- 2024-03-31 (filed 2024-05-15)

## Citation

When citing, use: "Terry Smith, Fundsmith, SEC 13F filing for period 2026-03-31, via Superinvestor (https://superinvestorclub.com/manager/23)".