Terry Smith · quarter digest

What Terry Smith did in Q2 2025

Fundsmith filed 13 moves in Q2 2025: 0 new, 3 add, 9 trim, 1 exit.

13F filed 2025-08-14. Manager quality score: q9. Philosophy: Buy good companies. Don't overpay. Do nothing.

Adds · 3

Adding to conviction

ZTSZOETIS INC

ADD +13%·2.0% book·+1

INTUINTUIT

ADD +103%·1.3% book·−20

DOCSDOXIMITY INC

ADD +14%·0.4% book·−5

Trims · 9

METAMETA PLATFORMS INC

TRIM -8%·11.4% book·+3

MSFTMICROSOFT CORP

TRIM -8%·10.7% book·−8

SYKSTRYKER CORPORATION

TRIM -8%·8.0% book·−14

PFEPHILIP MORRIS INTL INC

TRIM -16%·7.2% book·−11

VVISA INC

TRIM -7%·5.9% book·−14

GRACOGRACO INC

TRIM -21%·0.3% book·−13

VRSNVERISIGN INC

TRIM -53%·0.3% book·−12

VRSKVERISK ANALYTICS INC

TRIM -47%·0.2% book·−16

MAMASTERCARD INCORPORATED

TRIM -44%·0.1% book·0

Exits · 1

EFXEQUIFAX INC

EXIT·0.0% book·+5

Current top holdings

#	Ticker	Weight	Conviction
1	MSFT Microsoft	11.2%	−8
2	MA Mastercard	9.8%	0
3	NOVO Novo Nordisk	8.4%	+6
4	META Meta Platforms	6.5%	+3
5	LLY Eli Lilly	5.9%	−6
6	V Visa	5.4%	−14

Other quarters for Terry Smith

Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.