Terry Smith Reduces Holdings in Top Stocks, Adds New Position in Q1 2026

Terry Smith, managing the Fundsmith Investment Services portfolio, has made notable adjustments to his holdings in the first quarter of 2026, as indicated by the latest filing data. The portfolio, valued at approximately $4.41 billion as of March 31, 2026, shows a pattern of reducing positions in several top stocks while establishing a new position.

Across the top holdings, Terry Smith's portfolio saw a general trend of decreasing share counts in most of its largest positions during this quarter. Marriott International (MAR) saw its share count decrease by 18.07%, Striker Corporation (SYK) by 23.68%, Waters Corporation (WAT) by 19.13%, Alphabet Inc. (GOOGL) by 41.72%, Visa Inc. (V) by 17.94%, Mettler Toledo International (MTD) by 12.23%, Philip Morris International (PM) by 24.91%, IDEXX Laboratories (IDXX) by 30.04%, Automatic Data Processing (ADP) by 8.14%, and Meta Platforms Inc. (META) by 33.7%. These significant reductions suggest a strategic shift or reassessment of these positions.

Notably, Meta Platforms Inc. (META) experienced the most substantial reduction in share count during this period, with a 33.7% decrease. The stock, categorized under Communication Services, holds a 6.09% allocation in the portfolio. Terry Smith's position in META can be explored further here: META stock analysis.

Among the top holdings, Alphabet Inc. (GOOGL) also saw a significant reduction, with a 41.72% decrease in shares, followed closely by Striker Corporation (SYK) and IDEXX Laboratories (IDXX) with over 30% reductions. The Visa Inc. (V) position, holding 7.04% of the portfolio, also decreased significantly by 17.94%. These changes indicate a clear reduction in exposure to these large-cap technology and healthcare names.

Conversely, Terry Smith established a new position in Meta Platforms Inc. (META) during this quarter, adding shares to a holding that previously did not appear in the top 10 list. This new position now accounts for 6.09% of the total portfolio value. The addition of META, despite its significant prior reduction, suggests a complex strategy involving both exits and new entries. Further details on META can be found here: META stock profile.

No positions appear to have been fully exited during this reporting period from the top holdings disclosed. All listed holdings maintain a positive allocation percentage in the portfolio.

For a complete overview of Terry Smith's investment activities, visit his profile on Insiderset: Terry Smith profile.