Fundsmith LLP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Fundsmith LLP initiated 1 new position, trimmed 10 positions, and exited 4 positions entirely. The fund's 13F equity book declined from $17.12B to $12.83B (-25.1% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $17.12BPrior quarter
- $12.83BCurrent quarter
- $-4.29BNet delta
- -25.1%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| BADGER METER INC | BMI | 0.17% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| NAPCO SEC TECHNOLOGIES INC | NSSC | -0.32% | -78.45% | Holders → |
| VERTIV HOLDINGS CO | VRT | -0.21% | -77.79% | Holders → |
| CATALYST PHARMACEUTICALS INC | CPRX | -0.30% | -74.88% | Holders → |
| QUALYS | QLYS | -0.35% | -65.10% | Holders → |
| HOME DEPOT INC | HD | -0.09% | -64.33% | Holders → |
| MSCI INC | MSCI | -0.29% | -61.12% | Holders → |
| SABRE CORP | SABR | -0.07% | -58.07% | Holders → |
| ROLLINS INC | ROL | -0.26% | -58.07% | Holders → |
| NUTANIX INC | NTNX | -0.24% | -58.07% | Holders → |
| VERISIGN INC | VRSN | -0.16% | -58.07% | Holders → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| INTUIT | INTU | 2.42% |
| NIKE INC | NKE | 2.15% |
| ODDITY TECH LTD | ODD | 0.49% |
| GRACO INC | GGG | 0.28% |
Methodology & FAQ
How Fundsmith LLP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Fundsmith LLP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Fundsmith LLP initiate in Q1 2026?
Fundsmith LLP established 1 new position in Q1 2026: BADGER METER INC (BMI, 0.17%).
Which existing positions saw the largest allocation increases for Fundsmith LLP in Q1 2026?
Fundsmith LLP reported no material allocation increases in existing positions in Q1 2026.
Which positions did Fundsmith LLP fully exit in Q1 2026?
Fundsmith LLP fully exited 4 positions in Q1 2026: INTUIT (INTU, last-reported weight 2.42%), NIKE INC (NKE, last-reported weight 2.15%), ODDITY TECH LTD (ODD, last-reported weight 0.49%), GRACO INC (GGG, last-reported weight 0.28%).
Which existing positions saw the largest allocation reductions for Fundsmith LLP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: NAPCO SEC TECHNOLOGIES INC (NSSC, -0.32% weight, -78.45% shares), VERTIV HOLDINGS CO (VRT, -0.21% weight, -77.79% shares), CATALYST PHARMACEUTICALS INC (CPRX, -0.30% weight, -74.88% shares), QUALYS (QLYS, -0.35% weight, -65.10% shares), HOME DEPOT INC (HD, -0.09% weight, -64.33% shares), MSCI INC (MSCI, -0.29% weight, -61.12% shares), SABRE CORP (SABR, -0.07% weight, -58.07% shares), ROLLINS INC (ROL, -0.26% weight, -58.07% shares), NUTANIX INC (NTNX, -0.24% weight, -58.07% shares), VERISIGN INC (VRSN, -0.16% weight, -58.07% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.