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Fundsmith Equity Fund sold Intuit (INTU) in Q2 2026, citing concerns over Intuit's handling of the "poor Mailchimp acquisition" and its decision to report results "ex Mailchimp."
Fundsmith stated in its Q2 2026 investor letter that this approach by Intuit indicated a "continuing state of denial" regarding the acquisition's performance, which was the original reason for their initial sale of the shares.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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