Terry Smith Reduces Holdings in Top Stocks Amid Portfolio Shift

Terry Smith, managing the Fundsmith portfolio valued at approximately $12.8 billion as of March 31, 2026, has seen notable changes in his top holdings during the reporting period. The portfolio's top ten holdings, representing about 54.5% of the total value, include major names across various sectors.

Among the most significant changes, Terry Smith reduced his position in Marriott International (MAR) by 1.5 million shares, a 15.3% decrease from the prior period. Similarly, Striker Corporation (SYK) saw a reduction of nearly 0.6 million shares, representing a 16.98% decline in holdings. These reductions were followed by decreases in holdings of Waters Corporation (WAT), Visa Inc. (V), and Alphabet Inc. (GOOGL), all indicating a strategic shift away from these stocks.

In contrast, Microsoft Corporation (MSFT) maintained its position with virtually no change in shares held, while holdings in IDEXX LABS INC (IDXX) and Automatic Data Processing (ADP) also showed minimal reduction. Philip Morris International (PM) experienced a substantial 16.51% reduction in shares, though it remains a significant position in the portfolio.

Smith's portfolio continues to favor large-cap technology and healthcare stocks, with Microsoft and several healthcare companies maintaining substantial allocations. However, the overall trend points to a reduction in exposure to consumer cyclical and financial services stocks.

For more detailed information on Terry Smith's investment activities, please visit InsiderSet. You can also explore each stock's performance and details by visiting their respective pages on InsiderSet.