Fundsmith (Terry Smith)

Fundsmith (Terry Smith) has filed 13F reports from Q1 2013 through Q4 2025. The portfolio has returned 5.0% annualized over five years, with 17.0% volatility and a maximum drawdown of 61.6%. Across all filing periods, 5.8% included restatements and 1.9% introduced new holdings. Review the fund’s investment style metrics, recent position changes, track record by individual position and sector, and related educational resources below.