Terry Smith Q2 2026 Portfolio Activity: Major Tech Buys and Sales
Insider analysis reveals significant purchases of Uber, Mastercard, Netflix, Philip Morris, and NextPower Inc., alongside substantial sales in Alphabet (Google) stock.
Terry Smith, managing director at Fundsmith Investment Services, has shown active portfolio management during the second quarter of 2026. His filing indicates a mix of strategic buying and selling across various sectors.
Notably, Terry Smith significantly increased his holdings in several prominent technology companies this quarter:
- Uber Technologies Inc, represented by the ticker UBER. The position saw a massive 100% increase in shares, boosting its portfolio allocation from an unknown previous level to 4.72%. This suggests either establishing this position or significantly increasing it during Q2.
- Mastercard Incorporated, ticker MA. Smith added shares, resulting in a 100% increase and an allocation of 4.47%. The previous position level is not disclosed.
- Taiwan Semiconductor Manufacturer, ticker TSM. This position also increased by 100% to 4.35%. The previous allocation is unknown.
- Netflix Inc, ticker NFLX. Smith added shares, resulting in a 100% increase and an allocation of 3.46%. The previous position level is not disclosed.
- NextPower Inc, ticker NXT. This position increased by 100% to 2.38%. The previous allocation is unknown.
In contrast, the investor divested a substantial portion of his Alphabet (Google) stock during Q2:
- Alphabet Inc, ticker GOOGL. Smith sold shares in this position, resulting in a -50.73% change from the previous quarter and reducing its portfolio allocation to 4.42%. This represents a significant decrease.
Beyond these major shifts, Terry Smith also made notable adjustments elsewhere:
- Philip Morris International Inc, ticker PM. The position decreased by -43.71% (from the prior period) and now holds an allocation of 3.78%.
- Waters Corp, ticker WAT. The position decreased by a smaller percentage (-23.62%) and holds an allocation of 6.95%.
- Marriott International Inc, ticker MAR. The position decreased by (-24.78%) and holds an allocation of 7.4%.
- Church & Dwight Co Inc, ticker CHD. The position decreased slightly (-2.31%) and holds an allocation of 5.44%.
- Visa Inc, ticker V. This position saw a decrease of (-33.64%) and holds an allocation of 5.17%.
- Veeva Systems Inc, ticker VEEV. Smith established a new position in this healthcare company, adding shares for a 100% increase and an allocation of 1.02%.
The overall portfolio structure reflects these changes:
- Terry Smith holds positions across multiple sectors, including Technology (now the largest sector), Healthcare, Consumer Defensive, Communication Services, Consumer Cyclical, and Financial Services.
- His portfolio consists of 27 holdings. The top five stocks account for approximately 32.28% of his total investment value.
To view Terry Smith's complete portfolio composition or track his investment activities, visit the investor profile at Fundsmith Investment Services.