Terry Smith Holdings 13F: Latest Fundsmith Equity Fund Portfolio Changes
Fundsmith Equity Fund. The 'English Warren Buffett'. Terry Smith runs a highly concentrated, buy-and-hold portfolio of high-quality compounding businesses. His simple motto is 'Buy good companies. Don't overpay. Do nothing.'
As of the latest Q1 2026 13F filing, Terry Smith (managing Fundsmith Equity Fund) reported a public portfolio value of $12.8B with 34 positions. This page tracks latest holdings, latest 13F changes, top buys, top sells, and top holdings from the public filing. The top recent buy was BMI. The top recent sell was MAR.
Open interactive portfolioLatest 13F portfolio changes
Terry Smith holdings 13F summary: the latest Fundsmith Equity Fund portfolio changes show top holdings including MARRIOTT INTL INC NEW, STRYKER, WATERS, VISA, and Alphabet, reported top buys such as BADGER METER, and top sells or reductions such as MARRIOTT INTL INC NEW, STRYKER, WATERS, and VISA.
Latest filing metadata: quarter Q1 2026; report date 2026-03-31; filing date 2026-05-15; disclosure source SEC 13F.
Terry Smith 13F portfolio and latest holdings overview
Terry Smith's Q1 2026 13F holdings show Fundsmith Equity Fund reporting 34 positions with a disclosed portfolio value of $12.8B. For readers searching Terry Smith 13F holdings, Terry Smith portfolio, Fundsmith Equity Fund holdings, or latest 13F changes, the latest top holdings include MARRIOTT INTL INC NEW, STRYKER, WATERS, VISA, and Alphabet.
The three largest reported positions add up to roughly 23.9%, which helps readers judge portfolio concentration rather than just headline AUM. The largest reported sector exposure is Health Care at 31.3% of the disclosed portfolio. This makes the page useful for comparing the manager's actual disclosed exposure with market narratives around the same names.
The latest change data highlights reported buys such as BADGER METER and reported reductions or exits such as MARRIOTT INTL INC NEW, STRYKER, WATERS, VISA, and Alphabet. Those changes should be read as historical disclosure signals, not as real-time trade alerts.
The filing metadata lists report date 2026-03-31, filing date 2026-05-15, SEC accession 0001569205-26-000005. SEC 13F reports are normally published up to 45 days after quarter end, so the data is best used to understand institutional positioning after the fact rather than to infer today's exact portfolio.
Terry Smith portfolio analytics
the top five positions account for 37.8% of disclosed value; the largest sector exposure is Health Care at 31.3%; reported buy and sell activity implies roughly 106.3% turnover this period; cost-basis P&L across 33 tracked positions averages 557.9% (10/22 currently in profit).
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| MAR whale holders MARRIOTT INTL INC NEW | $1.10B | 8.6% | Reduced |
| SYK whale holders STRYKER CORPORATION | $1.01B | 7.8% | Reduced |
| WAT whale holders WATERS CORP | $956.6M | 7.5% | Reduced |
| V whale holders VISA INC | $938.2M | 7.3% | Reduced |
| GOOGL whale holders ALPHABET INC | $850.1M | 6.6% | Reduced |
| PM whale holders PHILIP MORRIS INTL INC | $845.4M | 6.6% | Reduced |
| IDXX whale holders IDEXX LABS INC | $823.6M | 6.4% | Reduced |
| ADP whale holders AUTOMATIC DATA PROCESSING IN | $783.3M | 6.1% | Reduced |
| MSFT whale holders MICROSOFT CORP | $769.9M | 6.0% | Reduced |
| META whale holders META PLATFORMS INC | $756.0M | 5.9% | Reduced |
Top buys
- BMI whale holders — BADGER METER INC ($21.7M)
Top sells
- MAR whale holders — MARRIOTT INTL INC NEW ($1.10B)
- SYK whale holders — STRYKER CORPORATION ($1.01B)
- WAT whale holders — WATERS CORP ($956.6M)
- V whale holders — VISA INC ($938.2M)
- GOOGL whale holders — ALPHABET INC ($850.1M)
- PM whale holders — PHILIP MORRIS INTL INC ($845.4M)
Allocation
- Health Care: 31.3%
- Information Technology: 20.7%
- Consumer Staples: 16.1%
- Communication Services: 12.5%
- Consumer Discretionary: 8.7%
- Financials: 7.6%
- Other: 2.7%
- Industrials: 0.3%
Data notes
Report date: 2026-03-31
Disclosure source: SEC 13F
SEC 13F filings are delayed public disclosures and do not include every asset class, short positions, or real-time trades.
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Frequently asked questions
Terry Smith 13F Holdings
The Q1 2026 13F profile for Terry Smith and Fundsmith Equity Fund shows 34 reported positions, $12.8B in disclosed portfolio value, and top holdings including MARRIOTT INTL INC NEW, STRYKER, WATERS, VISA, and Alphabet.
What is Terry Smith buying? Latest 13F changes
The latest tracked change data for Terry Smith highlights reported buys such as BADGER METER and reported sells or reductions such as MARRIOTT INTL INC NEW, STRYKER, WATERS, and VISA.
Fundsmith Equity Fund top holdings
Fundsmith Equity Fund top holdings are summarized from public disclosures with reported values, weights, portfolio concentration, top buys, top sells, and filing metadata where available.
Terry Smith buys and sells
Use the top buys and top sells sections above to compare Terry Smith's reported additions, reductions, exits, and latest portfolio activity against other tracked investors.
How delayed is Terry Smith's 13F data?
SEC Form 13F requires institutional investment managers with $100M+ in US equities to disclose their holdings quarterly. Read our comprehensive 13F guide for timing, coverage, and limitations. Read the Whale Analyzer 13F guide.