Terry Smith
Three rules: buy good companies, don't overpay, do nothing. Owns only high-return-on-capital, capital-light compounders in consumer, healthcare and tech — and trades rarely.
A former star bank analyst who made his name with the 1992 book Accounting for Growth, exposing creative accounting (and got fired for it). Founded Fundsmith in 2010; its flagship equity fund grew past £20B, making him Britain's best-known active manager.
Fundsmith's U.S. holdings file a 13F (≈45-day lag). Note: top positions often include London/Europe-listed names (Richemont, L'Oréal) absent from the U.S. 13F; the fund has been shrinking, so many U.S. names show as trims.
Holdings & weights
Q1 2026 · 13F (as of 31 Mar 2026)Weights are by market value, from real 13F / daily disclosure. This is a snapshot and will change — see live: Live 13F weights & activity on dataroma
An asset-light, franchise-model hotel leader.
Analyze through a master's lensA long-favoured payment-network "tollbooth" business.
Analyze through a master's lensA cash cow with formidable pricing power.
Analyze through a master's lensMicrosoft Corp. −0%, Meta Platforms Inc. −3%, Mettler-Toledo International Inc. −2%, Church & Dwight −1%, Procter & Gamble −1%, Texas Instruments −0%, Fortinet Inc. −6%, Zoetis Inc. −1%.
In their own words
Buy good companies, don't overpay, do nothing.
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
Run any stock you care about through the "Growth · Scuttlebutt" lens.
Keep exploring
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