Renowned investor Terry Smith's firm, Fundsmith, revealed a significant new position in Uber Technologies (UBER). According to a quarterly filing, the firm acquired 8.94 million shares valued at approximately $645.34 million as of June 30, 2026. This new stake immediately constitutes 4.73% of Fundsmith's reported portfolio.
Investors should note that 13F filings are delayed disclosures, reflecting positions held at the end of the prior quarter and not necessarily current holdings. The move comes amid reports of a strategic pivot by Smith, who is known for his long-term, buy-and-hold approach, towards a more active management style. This Uber purchase was one of several significant portfolio changes made during the second quarter.