In a recent regulatory filing, celebrated investor Terry Smith's firm, Fundsmith, disclosed a significant reduction in its Texas Instruments (TXN) holdings. The filing, which covers the second quarter of 2026, revealed that Fundsmith sold approximately 824,000 shares, cutting its position by 31.4%. The fund's remaining stake now consists of 1.80 million shares, which were valued at over $536 million at the end of the quarter.
This trade information comes from a quarterly 13F report filed on August 14, 2026, meaning the transactions occurred between April 1 and June 30. The reduction in Texas Instruments was part of a broader portfolio overhaul at Fundsmith, which saw increased trading activity in the first half of the year. While the firm has not publicly commented on the specific reasons for this trade, it aligns with a period of significant adjustments across many of its core holdings.