13F filing recap · Q1 2026

What did Fundsmith buy in Q1 2026?

Reported stock-position changes between this filing and the previous one.

Stock value

$12.83B

Positions

Estimated turnover

19.2%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Fundsmith opened a new position in Badger Meter and exited Graco, Intuit, Nike, and Oddity Tech. It trimmed Marriott International, Stryker, Visa, Alphabet, Philip Morris International, Idexx Laboratories, Otis Worldwide, and Medpace Holdings, among others. More substantial reductions hit Msci, Rollins, VeriSign, Paycom Software, Clorox, Vertiv Holdings, Nutanix, Catalyst Pharmaceuticals, Qualys, Doximity, Manhattan Associates, Napco Security Technologies, Sabre, and Home Depot.

New positions

BMIBadger Meter, Inc.$21.71Mreported value+142.5K shares

Reduced positions

MARMarriott International Inc /md/$1.10Breported value-609.1K shares-15.3%SYKStryker Corp$1.01Breported value-626.1K shares-17.0%WATWaters Corporation$956.56Mreported value-345.9K shares-9.7%VVisa Inc.$938.18Mreported value-430.6K shares

Exited positions

INTUIntuit Inc.$414.42Mprior reported value-625.6K shares-100.0%NKENike, Inc.$367.62Mprior reported value-5.77M shares-100.0%ODDOddity Tech Ltd$83.34Mprior reported value-2.07M shares-100.0%GGGGraco Inc.$47.46Mprior reported value-579.0K shares