Exited position

Terry Smith’s PayPal (PYPL) position

Reported position history, portfolio importance and verified filing changes from public SEC disclosures.

Fundsmith LLPVerified through Q2 2026
Relationship snapshot

At a glance

The full verified relationship, including prior ownership episodes and exits where supported.

First reportedQ3 2015Earliest verified positive filing snapshot
Latest statusExited positionBased on the latest supported relationship state
Peak shares15.40MHighest verified quarter-end share count
Quarters reported26Verified quarters with shares above zero
What happened?

Fundsmith LLP first reported PayPal in Q3 2015. The reported position was increased and reduced across later filings. The latest verified relationship event shows that Fundsmith LLP sold the entire position in Q4 2022, and the stock is no longer reported in the latest verified portfolio.

Verified SEC history

Position over time

See the same verified relationship through reported shares, portfolio weight or reported value.

Metric

Gaps indicate periods that cannot be safely connected or where a verified corporate action changes the raw share scale. Stock price, when available, is market context and not a transaction price.

Key filing events

What changed

Latest filing plus the most meaningful reported changes. Unchanged quarters are collapsed by default.

Q4 2022
Sold the entire position−5.61M shares · No shares reported at quarter-end
Q3 2022
Sold 41.9% of the position−4.04M shares · 5.61M shares remained
Filing context

Quarter-end price $86.07 · Estimated holding basis $108.63

Q2 2022
Sold 7.9% of the position−825.02K shares · 9.65M shares remained
Filing context

Quarter-end price $69.84 · Estimated holding basis $108.63

Q1 2022
Sold 19.5% of the position−2.54M shares · 10.48M shares remained
Filing context

Quarter-end price $115.65 · Estimated holding basis $108.63

Q4 2021
Bought 5.9% more+730.63K shares · 13.02M shares reported after the change
Filing context

Quarter-end price $188.58 · Estimated holding basis $108.63

Q3 2021
Sold 0.01% of the position−650 shares · 12.29M shares remained
Filing context

Quarter-end price $260.21 · Estimated holding basis $103.88

Portfolio importance

How important was PayPal in Fundsmith LLP’s reported portfolio?

Relative importance is measured only within the verified primary non-option reported portfolio for each quarter.

Last reported portfolio weight2.3%Q3 2022
Last reported rank#20of 46 reported positions
Peak portfolio weight9.9%Q2 2021
Best historical rank#1Q4 2017
At peak importanceQ2 2021
PYPL
9.9%
Largest holding
9.9%
Cross-investor discovery

Who else owns PayPal?

Also reported by 3 other tracked investors in their latest verified filings.

David EinhornDME Capital Management
PYPL1.6% of reported portfolio
Joel GreenblattGotham Asset Management
PYPL0.2% of reported portfolio
Ray DalioBridgewater Associates, LP
PYPL0.0% of reported portfolio
Explore PayPal across all tracked investors →
SEC evidence & methodology

SEC filing evidence

Market context and filing-derived values are kept separate from actual transaction prices, which 13F filings do not disclose.

Latest verified stock price$53.722026-09-11

Market context only; not an investor transaction price.

Latest verified investor filingQ2 2026 · filed 2026-08-14
Open SEC filing ↗

View PayPal stock page →

This tracker follows Fundsmith LLP’s reported positions. Form 13F reports quarter-end positions and is filed later; it does not disclose exact trade dates or execution prices.