Here’s Why Fundsmith Equity Fund Reestablished Its Stake in Intuit (INTU)

Fundsmith Equity Fund Performance - Fundsmith Equity Fund's T Class Accumulation shares returned 0.8% in 2025, underperforming the MSCI World Index which returned 12.8% [1] - Since inception, the fund has outperformed the index by 1.7% per annum [1] - Underperformance in 2025 attributed to index concentration, growth of assets in Index Funds, and dollar weakness [1] Intuit Inc. Overview - Intuit Inc. (NASDAQ:INTU) reported a one-month return of -1.18% and a 52-week gain of 5.49% [2] - As of January 9, 2026, Intuit's stock closed at $646.90 with a market capitalization of $180.097 billion [2] Fundsmith's Position on Intuit Inc. - Fundsmith previously sold its position in Intuit due to concerns over its acquisition of Mailchimp, which was seen as outside its core competencies and overvalued [3] - The poor performance of the Mailchimp acquisition has recently impacted Intuit's share price, leading Fundsmith to consider rebuilding its stake [3] Hedge Fund Interest in Intuit Inc. - Intuit Inc. was held by 96 hedge fund portfolios at the end of Q3 2025, a decrease from 105 in the previous quarter [4] - In Q1 2026, Intuit reported revenue of $3.9 billion, an 18% year-over-year increase [4] - Despite acknowledging Intuit's potential, some analysts believe other AI stocks may offer better upside potential with less downside risk [4]