Terry Smith's Top Holdings: Analysis of Fundsmith Portfolio as of March 31, 2026

Terry Smith, through Fundsmith, maintains a concentrated portfolio as of March 31, 2026, heavily weighted in large-cap technology and healthcare stocks. The fund's holdings reflect a strategic focus on established industry leaders, though most positions show reductions in shares compared to the previous period.

Marriott International (MAR) stands as the largest holding, representing approximately 8.59% of the portfolio. The position saw a significant reduction, with shares decreased by 15.3% from the prior period.

Across the healthcare sector, three major holdings are prominent: Johnson & Johnson (JNJ) is not listed, but Striker Corporation (SYK) holds down at 7.84%, Waters Corporation (WAT) at 7.46%, and IDEXX Laboratories (IDXX) at 6.42%. Striker and Waters both experienced substantial share reductions of over 16% and nearly 10% respectively, while IDEXX saw a sharp decline of 21.87%.

In the Financial Services sector, Visa (V) allocates about 7.31% of assets. The position also decreased, with shares down 12.18%.

Communication Services are represented by Alphabet (GOOGL) and Meta Platforms (META). Alphabet holds a 6.63% allocation and saw a 15.5% reduction in shares, while Meta's position, at 5.89%, decreased by 3.09%.

Consumer Defensive is anchored by Philip Morris International (PM) with a 6.59% allocation, also showing a significant 16.51% reduction in shares.

Technology is well-represented with several key holdings: Automatic Data Processing (ADP) at 6.11%, Microsoft (MSFT) at 6.0%, and Alphabet (GOOGL) already mentioned. ADP saw a 7.73% reduction, while Microsoft's position remained virtually unchanged (-0.01%).

For a complete view of Terry Smith's investment profile and these holdings, readers can explore the investor profile at https://www.insiderset.com/investor/terry-smith-fundsmith and detailed information on each stock at links like MAR, SYK, WAT, and others provided in the data.