Terry Smith's Fundsmith Portfolio Shifts: Significant Reductions in Top Holdings for Q4 2025
Terry Smith's Fundsmith portfolio experienced notable reductions in several top holdings during the fourth quarter of 2025, with significant decreases in positions like Alphabet Inc. (GOOGL) and Striker Corporation (SYK).
As of December 31, 2025, Terry Smith's Fundsmith portfolio, valued at approximately $17.1 billion, showed a pattern of reducing positions across several key holdings, reflecting strategic adjustments in the fourth quarter.
Within the Healthcare sector, Terry Smith notably reduced the position in Waters Corporation (WAT), cutting shares by 10.05%. Similarly, Striker Corporation (SYK) saw a substantial reduction of 19.68% in holdings. IDEXX Labs Inc. (IDEXX) also experienced a significant decrease of 28.13% in the fourth quarter.
In the Financial Services sector, Visa Inc. (V) saw a reduction of 8.29% in its position during the quarter. The Consumer Cyclical sector witnessed a decrease of 5.87% in Marriott International Inc. (MAR).
Terry Smith's Technology holdings also reflected a reductionist approach, with Microsoft Corporation (MSFT) experiencing a nearly 19.5% decrease in holdings, while Automatic Data Processing Inc. (ADP) saw a 3.1% reduction.
The Consumer Defensive sector saw Philip Morris International Inc. (PM) reduced by 14.8%, while in the Communication Services sector, both Alphabet Inc. (GOOGL) and Meta Platforms Inc. (META) experienced significant reductions of 44.37% and 12.52% respectively.
For a detailed view of Terry Smith's investment activities, visit the Fundsmith investor profile. For specific information on holdings like WAT, SYK, or GOOGL, explore the respective company profiles on Insiderset.