Terry Smith
Fundsmith
Fundsmith Portfolio 13F
Terry Smith Holdings Activity
- Portfolio value:
- $19.80B≈ (-$3B≈)
- Previous value:
- $23.02B≈
- # of changes:
- 27
- New positions:
- 0
- Reported for:
- 30 Sep 2025 (Q3)
- Latest filing date:
- 14 Nov 2025
Fundsmith has disclosed a total of 27 changes to the portfolio in the (2025 Q3) SEC report(s): increased the number of shares of 13, decreased the number of shares of 10 and completely sold out 4 position(s).
What stocks did Terry Smith buy in 2025 Q3?
During 2025 Q3 Terry Smith has bought 13 securities out of which top 5 purchases (by % change to portfolio) were (V) Visa Inc, CL-A (added shares +0.01%), (WAT) Waters Corp (added shares +9.62%), (MTD) Mettler-Toledo International Inc (added shares +0.10%), (FTNT) Fortinet Inc (added shares +0.02%) and (PG) Procter & Gamble Company (added shares +0.10%).
In the 2025 Q3 report(s) the following changes have been made to the top investments: (SYK) Stryker Corp (reduced shares -1.83%), (IDXX) IDEXX Laboratories Inc (reduced shares -1.09%), (GOOGL) Alphabet Inc, CL-A (reduced shares -7.56%), (MSFT) Microsoft Corp (reduced shares -47.72%) and (V) Visa Inc, CL-A (added shares +0.01%).
27 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
NAPCO Security Technologies Inc
|
+86.39%
|
+824,945
|
1,779,857
|
+0.18%
|
$42.95
|
-13.41%($37.19)
|
0.39%
|
2025 Q2
|
≈ 0.50 years
|
|
|
|
Intuit Inc
|
+64.01%
|
+235,916
|
604,456
|
+0.81%
|
$682.91
|
-53.51%($317.46)
|
2.09%
|
2025 Q1
|
≈ 0.75 years
|
|
|
|
Paycom Software, Inc
|
+26.58%
|
+109,923
|
523,433
|
+0.12%
|
$208.14
|
-22.09%($162.17)
|
0.55%
|
2018 Q4
|
≈ 7.00 years
|
|
|
|
Zoetis Inc
|
+25.32%
|
+730,300
|
3,615,131
|
+0.54%
|
$146.32
|
-46.58%($78.16)
|
2.67%
|
2020 Q4
|
≈ 5.00 years
|
|
|
|
Catalyst Pharmaceuticals Inc
|
+24.17%
|
+654,721
|
3,363,807
|
+0.07%
|
$19.70
|
+59.85%($31.49)
|
0.33%
|
2025 Q1
|
≈ 0.75 years
|
|
|
|
Qualys Inc
|
+21.19%
|
+152,257
|
870,859
|
+0.1%
|
$132.33
|
+3.33%($136.74)
|
0.58%
|
2020 Q2
|
≈ 5.50 years
|
|
|
|
Waters Corp
|
+9.62%
|
+347,091
|
3,955,498
|
+0.53%
|
$299.81
|
+27.44%($382.07)
|
5.99%
|
2015 Q1
|
≈ 10.75 years
|
|
|
|
The Home Depot Inc
|
+1.79%
|
+1,493
|
84,860
|
+0%
|
$405.19
|
-15.13%($343.90)
|
0.17%
|
2021 Q1
|
≈ 4.75 years
|
|
|
|
Mettler-Toledo International Inc
|
+0.10%
|
+617
|
590,654
|
+0%
|
$1,227.61
|
+12.64%($1,382.83)
|
3.66%
|
2022 Q1
|
≈ 3.75 years
|
|
|
|
Procter & Gamble Company
|
+0.10%
|
+4,760
|
4,577,040
|
+0%
|
$153.65
|
-1.72%($151.00)
|
3.55%
|
2020 Q4
|
≈ 5.00 years
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.