Terry Smith

Fundsmith LLP

Period:  Q4, 2025
Filed Date:  Feb 17, 2026
Reported Date:  Dec 31, 2025
No. of Stocks:  37
Portfolio Value:  17.12B
Stock% of portfoliioActivitySharesValueRecent Price

WAT - Waters corp /de/

7.896%Reduced 10.05%3.56M1.35B$379.830

SYK - Stryker corp

7.572%Reduced 19.68%3.69M1.30B$351.470

IDXX - Idexx laboratories inc

7.415%Reduced 28.13%1.88M1.27B$676.530

V - Visa inc

7.243%Reduced 8.29%3.53M1.24B$350.710

MAR - Marriott international inc

7.214%Reduced 5.87%3.98M1.23B$310.240

GOOGL - Alphabet inc

6.398%Reduced 44.37%3.50M1.10B$313.000

ADP - Automatic data processing inc

6.279%Reduced 3.10%4.18M1.07B$257.230

MSFT - Microsoft corp

5.877%Reduced 19.49%2.08M1.01B$483.620

PM - Philip morris international inc

5.740%Reduced 14.80%6.12M982.39M$160.400

META - Meta platforms inc

5.259%Reduced 12.52%1.36M900.06M$660.090

MTD - Mettler toledo international inc/

4.729%Reduced 1.72%580.507K809.34M$1394.190

PG - Procter & gamble co

3.557%Reduced 7.19%4.25M608.79M$143.310

CHD - Church & dwight co inc /de/

3.296%Reduced 0.97%6.73M564.18M$83.850

FTNT - Fortinet inc

3.023%Reduced 22.61%6.52M517.44M$79.410

ZTS - Zoetis inc

2.867%Add 7.90%3.90M490.80M$125.820

TXN - Texas instruments inc

2.659%Reduced 3.61%2.62M455.16M$173.490

INTU - Intuit inc

2.421%Add 3.50%625.619K414.42M$662.420

NKE - Nike inc

2.148%Reduced 5.86%5.77M367.62M$63.710

OTIS - Otis worldwide corp

1.588%Reduced 46.51%3.11M271.87M$87.350

MSCI - Msci inc

0.559%166.619K95.59M$573.730

ROL - Rollins inc

0.519%1.48M88.75M$60.020

QLYS - Qualys inc

0.503%Reduced 25.61%647.806K86.09M$132.900

PAYC - Paycom software inc

0.487%523.433K83.41M$159.360

ODD - Oddity tech ltd

0.487%Add 46.38%2.07M83.34M$40.180

CPRX - Catalyst pharmaceuticals inc

0.459%3.36M78.51M$23.340

DOCS - Doximity inc

0.427%Add 21.69%1.65M73.06M$44.280

NTNX - Nutanix, inc.

0.416%Buy1.38M71.19M$51.690

VRT - Vertiv holdings co

0.389%Reduced 30.52%410.944K66.58M$162.010

VRSN - Verisign inc/ca

0.384%270.634K65.75M$242.950

CLX - Clorox co

0.361%613.497K61.86M$100.830

MANH - Manhattan associates inc

0.292%288.332K49.97M$173.310

GGG - Graco inc

0.277%Reduced 35.70%579.016K47.46M$81.970

MEDP - Medpace holdings, inc.

0.271%Reduced 35.26%82.567K46.37M$561.650

ADMA - Adma biologics inc

0.224%Buy2.10M38.34M$18.240

SABR - Sabre corp

0.171%21.50M29.24M$1.360

HD - Home depot inc

0.161%Reduced 5.48%80.206K27.60M$344.100