Terry Smith - Fundsmith
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    34
Portfolio value:    $12,827,766,987
Holdings Activity Buys Sells    History
History Stock % of
Portfolio
Recent
Activity
Shares Avg. Buy
Price*
Value Current
Price
+/-
Since
Buy
52
Week
Low
52
Week
High
MAR - Marriott International, Inc. 8.59 Reduce 15.30% 3,370,872 $195.64 $1,102,511,105 $362.87 85.48% $251.53 $410.98
SYK - Stryker Corp. 7.84 Reduce 16.98% 3,061,416 $130.35 $1,005,950,683 $331.45 154.28% $280.25 $400.79
WAT - Waters Corp. 7.46 Reduce 9.72% 3,212,075 $181.93 $956,555,935 $373.22 105.15% $275.05 $414.15
V - Visa Inc. 7.31 Reduce 12.18% 3,104,090 $99.89 $938,180,162 $357.75 258.13% $293.28 $365.02
GOOGL - Alphabet Inc. 6.63 Reduce 15.50% 2,956,198 $144.50 $850,084,297 $352.51 143.95% $175.98 $408.37
PM - Philip Morris International Inc. 6.59 Reduce 16.51% 5,113,163 $86.23 $845,410,370 $180.19 108.96% $138.43 $191.46
IDXX - IDEXX Laboratories, Inc. 6.42 Reduce 21.87% 1,465,786 $94.87 $823,610,496 $564.21 494.73% $506.91 $769.98
ADP - Automatic Data Processing, Inc. 6.11 Reduce 7.73% 3,855,105 $121.03 $783,280,234 $251.05 107.43% $186.74 $307.44
MSFT - Microsoft Corp. 6.00 Reduce 0.01% 2,079,737 $132.23 $769,856,245 $390.99 195.68% $349.20 $551.05
META - Meta Platforms, Inc. 5.89 Reduce 3.09% 1,321,375 $174.68 $755,998,279 $656.73 275.96% $519.78 $793.65
MTD - Mettler-Toledo International Inc. 5.59 Reduce 2.07% 568,516 $1,312.88 $717,012,379 $1,299.53 -1.02% $1,023.05 $1,525.17
CHD - Church & Dwight Co., Inc. 4.83 Reduce 1.29% 6,641,508 $87.21 $619,785,527 $97.16 11.40% $80.53 $105.69
PG - The Procter & Gamble Co. 4.73 Reduce 1.13% 4,199,914 $150.08 $606,635,578 $148.37 -1.14% $135.63 $166.00
TXN - Texas Instruments Inc. 3.97 Reduce 0.02% 2,623,124 $181.36 $509,253,293 $298.57 64.63% $150.97 $334.03
FTNT - Fortinet, Inc. 3.92 Reduce 5.51% 6,156,675 $52.96 $503,123,481 $160.62 203.26% $70.12 $165.28
ZTS - Zoetis Inc. 3.57 Reduce 0.60% 3,877,559 $158.09 $458,366,249 $75.39 -52.31% $71.47 $158.55
OTIS - Otis Worldwide Corp. 1.64 Reduce 12.23% 2,731,635 $64.50 $210,554,426 $73.42 13.83% $69.16 $99.40
MSCI - MSCI Inc. 0.27 Reduce 61.12% 64,788 $177.39 $34,921,380 $620.23 249.64% $497.32 $644.68
ROL - Rollins, Inc. 0.26 Reduce 58.07% 619,935 $34.36 $33,110,728 $44.92 30.74% $41.50 $65.72
MEDP - Medpace Holdings, Inc. 0.23 Reduce 24.10% 62,668 $332.23 $30,092,547 $530.19 59.59% $306.70 $628.92
VRSN - VeriSign, Inc. 0.22 Reduce 58.07% 113,467 $179.47 $28,180,664 $270.31 50.62% $207.53 $312.48
PAYC - Paycom Software, Inc. 0.21 Reduce 58.07% 219,457 $201.99 $26,672,804 $146.50 -27.47% $104.33 $246.63
CLX - The Clorox Co. 0.21 Reduce 58.07% 257,217 $144.02 $26,655,398 $95.05 -34.00% $84.70 $127.30
VRT - Vertiv Holdings Co 0.18 Reduce 77.79% 91,254 $128.41 $22,866,427 $305.87 138.20% $118.57 $379.86
NTNX - Nutanix, Inc. 0.17 Reduce 58.07% 577,392 $51.69 $21,946,670 $55.22 6.83% $34.01 $82.42
BMI - Badger Meter, Inc. 0.17 Buy 142,491 $152.35 $21,708,504 $140.12 -8.03% $111.72 $246.96
CPRX - Catalyst Pharmaceuticals, Inc. 0.16 Reduce 74.88% 844,887 $22.94 $20,919,402 $31.48 37.22% $19.05 $32.56
QLYS - Qualys, Inc. 0.15 Reduce 65.10% 226,077 $113.96 $19,860,864 $151.54 32.98% $74.51 $164.17
DOCS - Doximity, Inc. 0.13 Reduce 58.07% 691,786 $53.91 $16,118,614 $22.29 -58.66% $17.15 $76.51
MANH - Manhattan Associates, Inc. 0.13 Reduce 58.07% 120,888 $197.47 $16,092,611 $158.31 -19.83% $119.06 $247.22
NSSC - Napco Security Technologies, Inc. 0.12 Reduce 78.45% 383,596 $35.84 $15,109,846 $35.74 -0.27% $28.85 $47.60
ADMA - ADMA Biologics, Inc. 0.12 Reduce 21.53% 1,649,493 $18.24 $14,861,932 $8.97 -50.82% $7.21 $20.46
SABR - Sabre Corp. 0.10 Reduce 58.07% 9,013,783 $11.95 $13,069,985 $1.76 -85.27% $0.81 $3.30
HD - The Home Depot, Inc. 0.07 Reduce 64.33% 28,611 $334.11 $9,409,872 $337.11 0.90% $286.95 $418.06
* Avg. Buy Price is an estimated cost basis: the share-weighted average of the quarter-end prices reported when this manager first bought or later added to the position (average-cost method, reset after a full exit). 13F filings disclose only quarter-end holdings, not actual trade prices, so this approximates — but does not exactly equal — what was paid.
Sector % analysis
Healthcare 31.52
Technology 21.15
Consumer Defensive 16.36
Communication Services 12.52
Consumer Cyclical 8.93
Financial Services 7.59
Industrials 1.94