FUNDSMITH INVESTMENT SERVICES LTD.
Long book
$4.41B
Q1 2026
Positions
24
Top-10 weight
71%
concentration
Last quarter
+13.4%
SPY +14.8%
Turnover
8%
of book per quarter
Strategy in plain words
auto-generated from filingsFUNDSMITH INVESTMENT SERVICES LTD. is a high-conviction value investor, running a $4.41B US long book across 24 positions.
The portfolio is concentrated: the top 10 names carry 71% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: MARRIOTT INTERNATIONAL -CL A, STRYKER CORP, WATERS CORP, ALPHABET INC-CL A, VISA INC-CLASS A SHARES.
Over the last 9 quarters its long book ran on average 2pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.9%
Q2 2024
+8.0%
Q3 2024
-0.0%
Q4 2024
-0.1%
Q1 2025
+10.4%
Q2 2025
-1.1%
Q3 2025
+2.2%
Q4 2025
-9.0%
Q1 2026
+13.4%
Sector allocation
Technology 33%
Healthcare 26%
Services media 16%
Other 11%
Consumer staples 6%
Materials 6%
Industrials 2%
Utilities 0%
Long book by quarter
What does FUNDSMITH INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 1.2M | $392.2M | 8.9% | -9.0% |
| SYK STRYKER CORP | Healthcare | 1.2M | $389.7M | 8.8% | -9.3% |
| WAT WATERS CORP | Healthcare | 1.1M | $326.6M | 7.4% | -4.3% |
| GOOGL ALPHABET INC-CL A | Technology | 1.1M | $326.2M | 7.4% | -9.8% |
| V VISA INC-CLASS A SHARES | Services media | 1.0M | $309.9M | 7.0% | -5.0% |
| MTD METTLER-TOLEDO INTERNATIONAL | Healthcare | 222.8K | $280.9M | 6.4% | -7.1% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 1.7M | $277.4M | 6.3% | -19.8% |
| IDXX IDEXX LABORATORIES INC | Materials | 481.6K | $270.6M | 6.1% | -13.0% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 1.3M | $269.7M | 6.1% | -0.8% |
| META META PLATFORMS INC-CLASS A | Technology | 469.0K | $268.4M | 6.1% | -10.4% |
| PG PROCTER & GAMBLE CO/THE | Other | 1.8M | $254.3M | 5.8% | -0.9% |
| MSFT MICROSOFT CORP | Technology | 664.0K | $245.8M | 5.6% | -0.7% |
| CHD CHURCH & DWIGHT CO INC | Other | 2.6M | $242.4M | 5.5% | -0.9% |
| TXN TEXAS INSTRUMENTS INC | Technology | 867.0K | $168.3M | 3.8% | -0.6% |
| FTNT FORTINET INC | Technology | 1.7M | $135.6M | 3.1% | -8.7% |
| ZTS ZOETIS INC | Healthcare | 1.1M | $132.4M | 3.0% | -7.2% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 966.8K | $74.5M | 1.7% | -22.8% |
| BMI BADGER METER INC | Technology | 132.6K | $20.2M | 0.5% | Held |
| WM WASTE MANAGEMENT INC | Utilities | 70.5K | $16.2M | 0.4% | Held |
| HD HOME DEPOT INC | Consumer discretionary | 4.6K | $1.5M | 0.0% | -50.8% |
| AAPL APPLE INC | Technology | 2.2K | $554K | 0.0% | +260.8% |
| TJX TJX COMPANIES INC | Consumer discretionary | 3.2K | $513K | 0.0% | +178.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.0K | $414K | 0.0% | +178.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 24 | $4.41B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 26 | $5.47B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 23 | $6.42B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 26 | $7.39B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 27 | $7.09B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 31 | $7.69B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 28 | $8.04B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 28 | $7.75B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 27 | $7.52B | canonical | SEC ↗ |