Terry Smith Reduces Holdings Across Top Stocks in Q1 2026

Terry Smith, the Chief Executive Officer of Fundsmith, has made notable adjustments to his investment portfolio during the first quarter of 2026, as indicated by the latest filing data. The focus appears to be on reducing exposure across several key holdings, with substantial decreases observed in multiple sectors.

Marriott International Inc. (MAR) saw a significant reduction, with Terry Smith decreasing his holdings by 15.3% during the quarter. Similarly, Visa Inc. (V) experienced a 12.18% decline in shares held. Other stocks showing substantial reductions include Striker Corporation (SYK) (-16.98%), Waters Corporation (WAT) (-9.72%), Alphabet Inc. (GOOGL) (-15.5%), Philip Morris International Inc. (PM) (-16.51%), IDEXX Laboratories Inc. (IDXX) (-21.87%), Automatic Data Processing Inc. (ADP) (-7.73%), and Meta Platforms Inc. (META) (-3.09%).

For instance, the position in Microsoft Corp. (MSFT) also decreased slightly, by just 0.01%, indicating even minor adjustments are being made. These reductions span across various sectors, including Consumer Cyclical, Healthcare, Financial Services, Communication Services, Consumer Defensive, Technology, and another Technology holding.

It is important to note that the data provided only reflects changes in the top holdings and does not indicate any new positions initiated or any positions fully exited during this period. No information is available regarding the initiation of new investments or the closure of any positions outside of the top holdings disclosed.

For more detailed information about Terry Smith's investment activities, please visit Terry Smith's profile on Insiderset. You can also explore the companies in his portfolio, such as Marriott International (MAR), Visa (V), and many others listed in the filing.