Latticework

Warren Buffett vs Terry Smith

Side-by-side 13F comparison as of 2026Q1. Buffett discloses $263.10B across 29 positions; Terry Smith (Fundsmith) discloses $4.41B across 24. They overlap on 2 holdings.

MetricBuffettTerry Smith
Disclosed portfolio$263.10B$4.41B
Positions2924
Top-5 concentration67%40%
Latest filing2026Q1 · May 15, 20262026Q1 · May 15, 2026
Clone vs SPY-3.1%/yr · 12.0y-10.0%/yr · 4.8y

Clone vs SPY: each manager's 13F replicated at reported weights with real disclosure lag, vs SPY total return — windows differ per manager. Methodology.

Buffett's top 10

  1. AAPL22.0%
  2. AXP17.4%
  3. KO11.6%
  4. BAC9.5%
  5. CVX6.6%
  6. OXY6.5%
  7. GOOGL5.9%
  8. CB4.2%
  9. MCO4.1%
  10. KHC2.8%

Terry Smith's top 10

  1. MAR8.9%
  2. SYK8.8%
  3. WAT7.4%
  4. GOOGL7.4%
  5. V7.0%
  6. MTD6.4%
  7. PM6.3%
  8. IDXX6.1%
  9. ADP6.1%
  10. META6.1%

Where they agree

Shared holdingBuffett wt.Terry Smith wt.
AAPL22.0%0.0%
GOOGL5.9%7.4%

Where they diverge

Buffett's largest holding that Terry Smithdoesn't own: AXP at 17.4% of the book. Terry Smith's largest holding Buffett doesn't own: MAR at 8.9%.

From SEC EDGAR Form 13F-HR filings (2026Q1). Long US-listed equities only — cash, shorts, bonds, and non-US positions are not disclosed, and both managers' real books extend beyond what a 13F shows. Not investment advice.