Confirming a significant new investment, Terry Smith's Fundsmith disclosed a $340.27 million position in NEXTPOWER INC (NXT), a prominent provider of solar and energy technology solutions. According to a quarterly filing that reflects holdings as of June 30, 2026, the fund acquired 2.86 million shares, establishing a 2.49% weight in its portfolio. Investors should note that 13F filings are released with a delay, so the trades occurred at some point during the second quarter.
This move comes as Terry Smith has publicly signaled a major shift in his long-held "buy and hold" investment philosophy. After a period of underperformance, Smith is now incorporating momentum into his strategy, leading to a higher-than-usual turnover in the Fundsmith portfolio. The addition of NEXTPOWER, a company that rebranded from Nextracker in late 2025 to reflect its broader energy technology focus, aligns with this more active approach.