Fundsmith lost -9.3% (in £) in Mar-26, twice the loss of MSCI World's -4.5%

Now down -11.3% YTD vs. MSCI World -1.6%

No outright sales or purchases

Top 5 detractors in Mar: Unilever $ULVR, Stryker $SYK, LVMH $MC, L'Oréal $OR, Meta $META