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Focused investors/Terry Smith

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

Live quotes available for 31 of 34 rows. Rows without a quote are marked unavailable.

1MSFTMICROSOFT10.63%Reduce -1.8%11,972,921$1.89B$157.7152w: $132.52 - $190.70; reported $157.71
2PMPHILIP MORRIS INTERNATIONAL6.99%Add +0.7%17,022,953$1.24B$72.9652w: $56.01 - $90.17; reported $72.96
3PYPLPAYPAL HOLDINGS INC6.68%Reduce -18.3%12,407,094$1.19B$95.7452w: $82.07 - $124.45; reported $95.74
4ELESTEE LAUDER6.04%Reduce -2.0%6,738,662$1.07B$159.3452w: $137.01 - $220.42; reported $159.34
5METAFACEBOOK6.04%Reduce -2.3%6,433,861$1.07B$166.8052w: $137.10 - $224.20; reported $166.80
6IDXXIDEXX LABORATORIES5.79%Reduce -7.5%4,245,227$1.03B$242.2452w: $168.65 - $296.25; reported $242.24
7INTUINTUIT INC5.77%Reduce -6.0%4,457,596$1.03B$230.0052w: $187.68 - $306.89; reported $230.00
8MKCMCCORMICK & CO NON VTG SHRS5.66%Reduce -3.5%7,124,205$1.01B$141.2152w: $56.12 - $87.29; reported $141.21
9SYKSTRYKER CORP5.56%Reduce -2.5%5,931,325$987.51M$166.4952w: $124.54 - $226.30; reported $166.49
10VVISA INC CLASS A SHARES5.53%Reduce -4.9%6,098,637$982.61M$161.1252w: $133.93 - $214.17; reported $161.12
11PEPPEPSICO INC5.40%Reduce -5.6%7,995,065$960.21M$120.1052w: $101.42 - $147.20; reported $120.10
12BDXBECTON DICKINSON AND CO4.93%Reduce -0.3%3,810,792$875.61M$229.7752w: $151.67 - $219.91; reported $229.77
13WATWATERS CORP4.87%Reduce -6.9%4,755,050$865.66M$182.0552w: $154.39 - $245.68; reported $182.05
14ADPAUTOMATIC DATA PROCESSING4.83%Reduce -2.9%6,274,833$857.64M$136.6852w: $103.11 - $182.32; reported $136.68
15JNJJOHNSON & JOHNSON3.97%Reduce -11.3%5,379,781$705.45M$131.1352w: $109.16 - $154.50; reported $131.13
16BF/BBROWN FORMAN CORP CLASS BCUSIP 1156372093.08%Add +2.2%9,844,631$546.48MNo quoteNo quote
17CLXCLOROX COMPANY1.55%Reduce -5.4%1,592,042$275.82M$173.2552w: $150.95 - $214.26; reported $173.25
18NKENIKE INC CL B1.08%New2,319,351$191.9M$82.7452w: $60.00 - $105.62; reported $82.74
19SBUXSTARBUCKS CORP0.98%New2,649,785$174.2M$65.7452w: $50.02 - $94.13; reported $65.74
20CHKPCHECK POINT SOFTWARE TECH0.49%Add +8.1%866,437$87.11M$100.5452w: $80.06 - $119.67; reported $100.54
21MASIMASIMO0.47%Reduce -17.2%475,853$84.28M$177.1252w: $143.90 - $187.85; reported $177.12
22VRSKVERISK ANALYTICS0.47%Reduce -3.8%598,306$83.39M$139.3852w: $116.61 - $171.73; reported $139.38
23ANSSANSYS0.43%Reduce -4.9%329,985$76.71MNo quoteNo quote
24EFXEQUIFAX0.38%Reduce -13.2%568,122$67.86M$119.4552w: $103.01 - $164.77; reported $119.45
25VRSNVERISIGN0.36%Add +30.2%355,281$63.98M$180.0952w: $148.77 - $217.23; reported $180.09
26CGNXCOGNEX0.36%Add +29.2%1,508,999$63.71M$42.2252w: $35.20 - $59.14; reported $42.22
27IPGPIPG PHOTONICS0.35%Add +23.1%566,147$62.44M$110.2852w: $98.04 - $150.00; reported $110.28
28MSCIMSCI0.33%Add +2.1%204,376$59.06M$288.9652w: $218.65 - $335.43; reported $288.96
29AOSAO SMITH0.31%Add +24.4%1,465,215$55.4MNo quoteNo quote
30SABRSABRE0.27%Add +95.3%7,950,501$47.15M$5.9352w: $3.30 - $23.25; reported $5.93
31PAYCPAYCOM SOFTWARE0.20%Add +2.1%174,606$35.27M$202.0152w: $173.65 - $342.00; reported $202.01
32MELIMERCADOLIBRE0.10%-34,804$17.01M$488.5952w: $422.22 - $756.48; reported $488.59
33MARMARRIOTT INTERNATIONAL CL A0.07%Add +0.6%172,847$12.93M$74.8152w: $46.56 - $152.60; reported $74.81
34XPXP CLASS A0.03%New253,367$4.89M$19.2952w: $15.50 - $43.52; reported $19.29