Fundsmith

NewUBER4.7% of the bookNewMA4.7% of the bookNewTSM4.0% of the bookNewNFLX3.7% of the bookAddedNSSC58.2% more sharesAddedMANH43.1% more shares

Holdings as of Jun 30 (Q2 2026), filed 45 days later (the report at the SEC)

NewBMI0.2% of the bookTrimmedIDXX21.9% fewer sharesTrimmedSYK17.0% fewer sharesTrimmedMAR15.3% fewer sharesTrimmedPM16.5% fewer sharesExitedINTUwas 2.4%

Holdings as of Mar 31 (Q1 2026), filed 45 days later (the report at the SEC)

NewNTNX0.4% of the bookNewADMA0.2% of the bookAddedZTS7.9% more sharesAddedODD46.4% more sharesAddedINTU3.5% more sharesAddedDOCS21.7% more shares

Holdings as of Dec 31 (Q4 2025), filed 48 days later (the report at the SEC)

AddedINTU64.0% more sharesAddedZTS25.3% more sharesAddedWAT9.6% more sharesAddedNSSC86.4% more sharesTrimmedMETA56.3% fewer sharesTrimmedMSFT47.7% fewer shares

Holdings as of Sep 30 (Q3 2025), filed 45 days later (the report at the SEC)

NewVRT0.4% of the bookNewMANH0.2% of the bookNewNSSC0.1% of the bookAddedINTU103% more sharesAddedZTS13.3% more sharesAddedCatalyst Pharmaceuticals Inc25.9% more shares

Holdings as of Jun 30 (Q2 2025), filed 45 days later (the report at the SEC)

NewINTU0.5% of the bookNewCatalyst Pharmaceuticals Inc0.2% of the bookAddedZTS1,020% more sharesAddedTXN60.3% more sharesAddedDOCS67.5% more sharesAddedQLYS31.1% more shares

Holdings as of Mar 31 (Q1 2025), filed 45 days later (the report at the SEC)