In a notable move, Terry Smith's Fundsmith established a new position in Netflix, acquiring 6.99 million shares valued at approximately $499.11 million. This investment gave the fund a 3.66% portfolio weighting in the streaming giant. As with all 13F filings, this disclosure, made on August 14, 2026, reflects the fund's holdings as of June 30, 2026, and does not represent a real-time trade.
The investment coincides with a significant, publicly discussed overhaul of Fundsmith's long-held "buy good companies, don't overpay, and do nothing" strategy. Citing a market environment increasingly driven by momentum, Smith's fund saw record portfolio turnover in the first half of 2026, with Netflix being one of 12 new companies added. This strategic shift marks a notable departure for the highly-regarded manager.