Fundsmith, a London-based investment firm, released its 2025 investor letter for the Fundsmith Equity Fund. T Class Accumulation shares returned 0.8% in 2025, compared to the MSCI World Index’s 12.8%. The fund has historically outperformed the index by 1.7% p.a. Check out the top five holdings for 2025 picks.

Fortinet, Inc. (NASDAQ:FTNT) was highlighted in Fundsmith Equity Fund’s Q4 2025 letter. The cybersecurity provider had a one-month return of -4.62% and lost 14.95% over the last 52 weeks. On January 12, 2026, FTNT closed at $78.66 per share with a market cap of $60.274 billion.

Fortinet, Inc. (NASDAQ:FTNT) was purchased by Fundsmith after a revenue growth decline post-Covid highs. The company faced disappointment over revenue potential from a renewal cycle. FTNT recently launched a new AI-powered workspace security suite and FortiDLP upgrades.

44 hedge fund portfolios held Fortinet, Inc. (NASDAQ:FTNT) in Q3 2025, with total revenue growing by 14% year-over-year to $1.72 billion. While acknowledging FTNT’s investment potential, other AI stocks offer greater upside with less downside risk. Explore our free report on undervalued AI stocks.

In another article, oversold fundamentally strong stocks to buy were shared, including Fortinet, Inc. (NASDAQ:FTNT). Visit our hedge fund investor letters Q4 2025 page for more insights from leading investors and hedge funds.

Read more at Yahoo Finance: Here’s Why Fortinet (FTNT) Slid in 2025