Terry Smith – Fundsmith Investment Services Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Fundsmith Investment Services portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
New Buys –
None reported
Increases – Intuit Inc., Nike, Inc., Waters Corporation, Zoetis Inc.
Reductions – Automatic Data Processing, Inc., Church & Dwight Company, Inc., Fortinet, Inc., Alphabet Inc., Home Depot, Inc. (The), and 11 more
Complete Exits – First Citizens BancShares, Inc., Mastercard Incorporated, Shopify Inc.
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | ADP Automatic Data Processing, Inc. | Automatic Data Processing, Inc. | Sell | -62,101 | -4.1% | $424.07M | 1,444,865 |
Q3 2025 | CHD Church & Dwight Company, Inc. | Church & Dwight Company, Inc. | Sell | -108,408 | -3.7% | $245.91M | 2,806,229 |
Q3 2025 | FCNCA First Citizens BancShares, Inc. | First Citizens BancShares, Inc. | Sell - Position Exit | -10,369 | -100.0% | $0.00 | - |
Q3 2025 | FTNT Fortinet, Inc. | Fortinet, Inc. | Sell | -230,706 | -9.2% | $191.68M | 2,279,732 |
Q3 2025 | GOOGL Alphabet Inc. | Alphabet Inc. | Sell | -55,352 | -2.8% | $473.17M | 1,946,411 |
Q3 2025 | HD Home Depot, Inc. (The) | Home Depot, Inc. (The) | Sell | -19,174 | -57.7% | $5.69M | 14,051 |
Q3 2025 | IDXX IDEXX Laboratories, Inc. | IDEXX Laboratories, Inc. | Sell | -156,259 | -18.5% | $439.78M | 688,357 |
Q3 2025 | INTU Intuit Inc. | Intuit Inc. | Buy | +74,446 | +65.3% | $128.74M | 188,514 |
Q3 2025 | MA Mastercard Incorporated | Mastercard Incorporated | Sell - Position Exit | -16,576 | -100.0% | $0.00 | - |
Q3 2025 | MAR Marriott International | Marriott International | Sell | -39,981 | -2.7% | $381.17M | 1,463,561 |
Q3 2025 | META Meta Platforms, Inc. | Meta Platforms, Inc. | Sell | -435,745 | -38.1% | $519.56M | 707,481 |
Q3 2025 | MSFT Microsoft Corporation | Microsoft Corporation | Sell | -584,298 | -36.7% | $520.87M | 1,005,633 |
Q3 2025 | MTD Mettler-Toledo International, I | Mettler-Toledo International, I | Sell | -6,768 | -2.6% | $311.55M | 253,786 |
Q3 2025 | NKE Nike, Inc. | Nike, Inc. | Buy | +2,867 | +0.1% | $161.39M | 2,314,508 |
Q3 2025 | OTIS Otis Worldwide Corporation | Otis Worldwide Corporation | Sell | -49,255 | -2.9% | $150.32M | 1,644,103 |
Q3 2025 | PG Procter & Gamble Company (The) | Procter & Gamble Company (The) | Sell | -58,252 | -3.0% | $290.24M | 1,888,975 |
Q3 2025 | PM Philip Morris International Inc | Philip Morris International Inc | Sell | -556,767 | -19.9% | $362.38M | 2,234,140 |
Q3 2025 | SHOP Shopify Inc. | Shopify Inc. | Sell - Position Exit | -88,177 | -100.0% | $0.00 | - |
Q3 2025 | SYK Stryker Corporation | Stryker Corporation | Sell | -76,774 | -4.7% | $574.39M | 1,553,780 |
Q3 2025 | TXN Texas Instruments Incorporated | Texas Instruments Incorporated | Sell | -16,192 | -1.6% | $181.13M | 985,861 |
Q3 2025 | V Visa Inc. | Visa Inc. | Sell | -62,239 | -4.7% | $426.61M | 1,249,649 |
Q3 2025 | WAT Waters Corporation | Waters Corporation | Buy | +135,504 | +11.1% | $406.63M | 1,356,289 |
Q3 2025 | ZTS Zoetis Inc. | Zoetis Inc. | Buy | +303,950 | +34.9% | $172.03M | 1,175,723 |
Q2 2025 | ADP Automatic Data Processing, Inc. | Automatic Data Processing, Inc. | Sell | -44,253 | -2.9% | $464.75M | 1,506,966 |
Q2 2025 | BF-B Brown Forman Inc | Brown Forman Inc | Sell - Position Exit | -2,855,440 | -100.0% | $0.00 | - |
Q2 2025 | CHD Church & Dwight Company, Inc. | Church & Dwight Company, Inc. | Buy | +10,365 | +0.4% | $280.13M | 2,914,637 |
Q2 2025 | FTNT Fortinet, Inc. | Fortinet, Inc. | Sell | -34,872 | -1.4% | $265.40M | 2,510,438 |
Q2 2025 | GOOGL Alphabet Inc. | Alphabet Inc. | Sell | -3,822 | -0.2% | $352.77M | 2,001,763 |
Q2 2025 | HD Home Depot, Inc. (The) | Home Depot, Inc. (The) | Sell | -12,657 | -27.6% | $12.18M | 33,225 |
Q2 2025 | IDXX IDEXX Laboratories, Inc. | IDEXX Laboratories, Inc. | Sell | -9,743 | -1.1% | $453.00M | 844,616 |