Terry Smith - Fundsmith

As of Q2 2026, Terry Smith reported 41 long-equity positions worth $13.65B in aggregate.

Copy-investor backtest

Latest quarter: +9.13%
1-year: +5.28%
3-year: +33.99%
5-year: +13.82%
3-year vs S&P 500: -39.25%
5-year vs S&P 500: -60.27%
5-year top 5: -13.81%

Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.

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Filing period

Updated 2026-06-06 from SEC 13F data.

Live quotes available for 39 of 42 rows. Rows without a quote are marked unavailable.


1	PYPL	PAYPAL HOLDINGS INC	9.50%	Reduce -0.2%	12,304,750	$2.99B	$242.84
2	MSFT	MICROSOFT	9.04%	Reduce -0.2%	12,049,293	$2.84B	$235.77
3	IDXX	IDEXX LABORATORIES	6.57%	Reduce -0.1%	4,220,612	$2.07B	$489.31
4	EL	ESTEE LAUDER	6.30%	Add +0.3%	6,807,070	$1.98B	$290.85
5	META	FACEBOOK	6.03%	Add +0.2%	6,433,648	$1.89B	$294.53
6	INTU	INTUIT INC	5.58%	Reduce -0.2%	4,577,260	$1.75B	$383.06
7	PM	PHILIP MORRIS INTERNATIONAL	5.47%	Reduce -0.4%	19,388,572	$1.72B	$88.74
8	SYK	STRYKER CORP	5.43%	Add +5.6%	7,006,486	$1.71B	$243.58
9	MKC	MCCORMICK & CO NON VTG SHRS	4.88%	Add +6.7%	17,220,169	$1.54B	$89.16
10	PEP	PEPSICO INC	4.51%	Add +4.0%	10,033,062	$1.42B	$141.45
11	V	VISA INC CLASS A SHARES	4.37%	Add +6.0%	6,492,332	$1.37B	$211.73
12	ADP	AUTOMATIC DATA PROCESSING	4.26%	Add +0.4%	7,113,605	$1.34B	$188.47
13	WAT	WATERS CORP	3.97%	Reduce -0.4%	4,393,544	$1.25B	$284.17
14	SBUX	STARBUCKS CORP	3.73%	Add +2.7%	10,720,429	$1.17B	$109.27
15	JNJ	JOHNSON & JOHNSON	3.47%	Add +3.9%	6,640,844	$1.09B	$164.35
16	BDX	BECTON DICKINSON AND CO	3.35%	Reduce -0.2%	4,334,871	$1.05B	$243.15
17	NKE	NIKE INC CL B	3.35%	Add +2.5%	7,927,468	$1.05B	$132.89
18	BF/B	BROWN FORMAN CORP CLASS BCUSIP 115637209	2.46%	Add +9.5%	11,231,696	$774.65M	No quote	No quote
19	CHD	CHURCH & DWIGHT INC	1.73%	Add +10.5%	6,223,361	$543.61M	$87.35
20	SABR	SABRE	0.70%	Add +9.7%	14,931,624	$221.14M	$14.81
21	FTNT	FORTINET INC	0.44%	Add +0.4%	747,908	$137.93M	$184.42
22	CGNX	COGNEX	0.43%	Add +0.4%	1,611,251	$133.72M	$82.99
23	IPGP	IPG PHOTONICS	0.42%	Add +0.4%	629,987	$132.89M	$210.94
24	VRSK	VERISK ANALYTICS	0.39%	Add +15.1%	699,816	$123.65M	$176.69
25	EFX	EQUIFAX	0.39%	Add +0.4%	675,592	$122.37M	$181.13
26	ANSS	ANSYS	0.39%	Add +0.4%	358,608	$121.77M	No quote	No quote
27	AOS	AO SMITH	0.38%	Add +18.1%	1,758,436	$118.89M	No quote	No quote
28	VRSN	VERISIGN	0.37%	Add +17.4%	585,315	$116.34M	$198.76
29	QLYS	QUALYS	0.35%	Add +13.6%	1,061,066	$111.18M	$104.78
30	MASI	MASIMO	0.31%	Add +0.4%	431,063	$99M	$229.66
31	MSCI	MSCI	0.28%	Add +0.4%	208,613	$87.47M	$419.28
32	PAYC	PAYCOM SOFTWARE	0.25%	Add +0.4%	215,932	$79.91M	$370.06
33	ROL	ROLLINS INC	0.20%	New	1,842,427	$63.42M	$34.42
34	WING	WINGSTOP INC	0.18%	New	447,555	$56.92M	$127.17
35	MAR	MARRIOTT INTERNATIONAL CL A	0.14%	Add +6.6%	296,181	$43.87M	$148.11
36	MELI	MERCADOLIBRE	0.11%	Reduce -15.0%	24,225	$35.66M	$1472.16
37	ZTS	ZOETIS INC	0.11%	Add +75.4%	212,207	$33.42M	$157.48
38	TSM	TAIWAN SEMICONDUCTOR MFG LTD	0.04%	-	117,981	$13.96M	$118.28
39	PG	PROCTER AND GAMBLE CO	0.04%	Add +121.5%	84,563	$11.45M	$135.43
40	XP	XP CLASS A	0.03%	-	253,367	$9.54M	$37.67
41	CL	COLGATE PALMOLIVE CO	0.03%	Add +7.1%	120,029	$9.46M	$78.83
42	HD	HOME DEPOT INC	0.01%	New	5,265	$1.61M	$305.22