Terry Smith · quarter digest
What Terry Smith did in Q4 2025
Fundsmith filed 22 moves in Q4 2025: 2 new, 4 add, 16 trim, 0 exit.
13F filed 2026-02-14. Manager quality score: q9. Philosophy: Buy good companies. Don't overpay. Do nothing.
New positions · 2
Fresh money
NTNXNUTANIX INC
NEW·0.4% book·−12
ADMAADMA BIOLOGICS INC
NEW·0.2% book·+5
Adds · 4
Adding to conviction
ADD +5%·11.2% book·−17
“Quality compounder top-up.”
ZTSZOETIS INC
ADD +8%·2.9% book·−1
ODDODDITY TECH LTD
ADD +46%·0.5% book·−9
DOCSDOXIMITY INC
ADD +22%·0.4% book·−6
Trims · 16
Taking chips off
WATWATERS CORP
TRIM -10%·7.9% book·+2
SYKSTRYKER CORPORATION
TRIM -20%·7.6% book·−13
IDXXIDEXX LABS INC
TRIM -28%·7.4% book·−10
MARMARRIOTT INTL INC NEW
TRIM -6%·7.2% book·−15
VVISA INC
TRIM -8%·7.2% book·−14
TRIM -8%·6.5% book·−2
“Small META trim.”
GOOGLALPHABET INC
TRIM -44%·6.4% book·−27
PMPHILIP MORRIS INTL INC
TRIM -15%·5.7% book·−20
PGPROCTER AND GAMBLE CO
TRIM -7%·3.6% book·−9
FTNTFORTINET INC
TRIM -23%·3.0% book·−8
NKENIKE INC
TRIM -6%·2.1% book·−2
OTISOTIS WORLDWIDE CORP
TRIM -47%·1.6% book·−13
QLYSQUALYS INC
TRIM -26%·0.5% book·−12
VRTVERTIV HOLDINGS CO
TRIM -31%·0.4% book·−9
GGGGRACO INC
TRIM -36%·0.3% book·−13
MEDPMEDPACE HLDGS INC
TRIM -35%·0.3% book·−24
Current top holdings
Terry Smith’s book, latest snapshot
Other quarters for Terry Smith
Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.
Deep dive
Reading for your research
Optional background reading on interpreting company disclosures and investing methods. These books do not validate a signal or predict returns.
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The Intelligent Investor
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Security Analysis
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