Terry Smith: Stock Portfolio, Performance and Latest Trades
Fundsmith
13F portfolio value
$13.6B
41 holdings at Q2 2026
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Terry Smith's portfolio
As of Q2 2026, filed August 14, 2026 · prices as of October 8, 2026
| Company | Share of portfolio | Average buy price | Return | Current price | Last quarter |
|---|---|---|---|---|---|
| 7.02% | $197.44 | +82.9% | $361.08 | Reduced −23% | |
| 6.72% | $129.46 | +114% | $276.97 | Reduced −4.8% | |
Waters Corp.WAT | 6.25% | $181.51 | +136% | $429.13 | Reduced −29% |
| 5.08% | $98.66 | +280% | $375.10 | Reduced −35% | |
| 4.73% | $73.33 | −4.2% | $70.24 | New | |
| 4.69% | $498.62 | +15.3% | $574.76 | New | |
Alphabet Inc.GOOGL | 4.64% | $143.93 | +142% | $348.29 | Reduced −40% |
| 4.58% | $88.01 | +11.0% | $97.73 | Reduced −2.8% | |
| 4.38% | $147.62 | +2.0% | $150.59 | Reduced −2.9% | |
Microsoft Corp.MSFT | 4.36% | $125.78 | +315% | $522.61 | Reduced −23% |
| 4.34% | $186.35 | +287% | $720.89 | Reduced −20% | |
| 4.27% | $115.19 | +135% | $270.73 | Reduced −33% | |
Fortinet Inc.FTNT | 4.09% | $53.81 | +251% | $189.10 | Reduced −41% |
| 4.02% | $405.79 | +12.9% | $457.99 | New | |
| 3.93% | $145.04 | +254% | $513.14 | Reduced −30% | |
| 3.93% | $179.27 | +60.8% | $288.20 | Reduced −31% | |
| 3.86% | $88.20 | +127% | $200.50 | Reduced −43% | |
Netflix Inc.NFLX | 3.66% | $88.07 | −18.7% | $71.57 | New |
| 3.53% | $1,020.67 | −2.1% | $999.35 | New | |
| 2.63% | $482.62 | −42.0% | $280.12 | New | |
| 2.52% | $158.11 | −12.2% | $138.75 | New | |
| 2.49% | $123.40 | −30.9% | $85.26 | New | |
| 1.06% | $164.89 | +72.7% | $284.84 | New | |
| 0.65% | $154.88 | −7.7% | $143.00 | New | |
MSCI Inc.MSCI | 0.22% | $175.19 | +221% | $561.67 | Reduced −17% |
| 0.20% | $339.14 | +77.7% | $602.70 | Reduced −16% | |
Nutanix Inc.NTNX | 0.20% | $61.10 | +19.7% | $73.11 | Reduced −6.8% |
| 0.19% | $152.16 | −16.1% | $127.66 | Added +23% | |
| 0.19% | $132.37 | −37.0% | $83.44 | Added +5.5% | |
Rollins Inc.ROL | 0.19% | $35.57 | −9.3% | $32.26 | No change |
| 0.18% | $168.34 | +22.8% | $206.78 | Added +43% | |
| 0.17% | $33.50 | +5.0% | $35.16 | Added +58% | |
Fair Isaac Corp.FICO | 0.16% | $1,120.17 | −36.8% | $707.43 | New |
Sabre Corp.SABR | 0.14% | $13.59 | −85.8% | $1.93 | No change |
| 0.13% | $297.35 | +10.4% | $328.30 | New | |
| 0.11% | $91.22 | −5.7% | $86.01 | New | |
| 0.10% | $97.24 | +151% | $243.73 | Reduced −54% | |
Verisign Inc.VRSN | 0.10% | $183.71 | +62.1% | $297.79 | Reduced −51% |
| 0.10% | $16.85 | −38.7% | $10.33 | No change | |
| 0.10% | $55.05 | −46.6% | $29.38 | Reduced −5.6% | |
| 0.09% | $201.20 | +14.3% | $229.90 | Reduced −54% |
Terry Smith's buys and sells
| Company | Action | Shares change | Value now |
|---|---|---|---|
| Reduced −56% | −2,010,088 | $1.1B | |
Microsoft Corp.MSFT | Reduced −48% | −2,358,140 | $1.3B |
| Reduced −21% | −1,886,051 | $1.2B | |
Alphabet Inc.GOOGL | Reduced −7.6% | −514,102 | $1.5B |
| Reduced −1.1% | −28,832 | $1.7B | |
Fortinet Inc.FTNT | Added +0.0% | +1,730 | $708M |
| Reduced −1.8% | −85,714 | $1.7B | |
Intuit Inc.INTU | Added +64% | +235,916 | $412.8M |
| Sold out | −733,892 | — | |
| Reduced −1.2% | −50,496 | $1.3B | |
Zoetis Inc.ZTS | Added +25% | +730,300 | $529M |
Waters Corp.WAT | Added +9.6% | +347,091 | $1.2B |
| Added +0.1% | +1,591 | $500.1M | |
| Reduced −0.4% | −29,645 | $595.4M | |
| Reduced −0.2% | −8,301 | $1.1B | |
Exponent Inc.EXPO | Sold out | −746,820 | — |
| Sold out | −176,195 | — | |
| Added +0.0% | +265 | $1.3B | |
| Added +86% | +824,945 | $76.4M | |
| Added +0.1% | +617 | $725.1M | |
| Added +0.1% | +4,760 | $703.3M | |
| Sold out | −27,663 | — | |
| Added +27% | +109,923 | $108.9M | |
Qualys Inc.QLYS | Added +21% | +152,257 | $115.2M |
Catalyst Pharmaceuticals Inc.14888U101 | Added +24% | +654,721 | $66.3M |
| Reduced −18% | −133,473 | $89.2M | |
| Added +1.8% | +1,493 | $34.4M |
Terry Smith's portfolio by sector
Share of the stock portfolio at Q2 2026.
| Sector | Share |
|---|---|
| Technology | 34% |
| Consumer Staples | 13% |
| Communication Services | 13% |
| Health Care | 11% |
| Consumer Discretionary | 10% |
| Financials | 9.9% |
| Industrials | 9.0% |
Portfolio performance: Terry Smith vs. benchmarks
Your result if you had bought each reported portfolio on the day it was made public and held it until the next report, against the S&P 500 and Nasdaq-100.
- You, copying after each 13F filing – estimated value
- S&P 500
- Nasdaq-100
| Total return | Per year | |
|---|---|---|
| You, copying after each 13F filing – estimated value | +25.2% | +4.6% |
| S&P 500 | +89.0% | +13.6% |
| Nasdaq-100 | +113.3% | +16.4% |
Prices were available for 93% of the portfolio value on average; the rest is left out of the return.
Terry Smith's most traded stocks
Quarters with a buy or a sell, all reports since Q1 2013.
| Company | Quarters bought | Quarters sold |
|---|---|---|
| 35 | 18 | |
| 31 | 20 | |
| 30 | 21 | |
| 27 | 23 | |
Waters Corp.WAT | 27 | 21 |
Microsoft Corp.MSFT | 21 | 26 |
| 23 | 23 | |
Pepsico Inc.PEP | 33 | 13 |
| 34 | 8 | |
| 18 | 20 | |
| 15 | 17 | |
| 17 | 13 | |
| 21 | 8 | |
| 13 | 16 | |
| 19 | 10 |