Terry Smith · quarter digest
What Terry Smith did in Q4 2025
Fundsmith filed 9 moves in Q4 2025: 0 new, 1 add, 8 trim, 0 exit.
13F filed 2026-02-14. Manager quality score: q9. Philosophy: Buy good companies. Don't overpay. Do nothing.
Adds · 1
Adding to conviction
ADD +5%·11.2% book·+6
“Quality compounder top-up.”
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Trims · 8
Taking chips off
IBKRIDEXX LABS INC
TRIM -28%·7.4% book·−7
VVISA INC
TRIM -8%·7.2% book·+8
TRIM -8%·6.5% book·+5
“Small META trim.”
GOOGLALPHABET INC
TRIM -44%·6.4% book·−9
PFEPHILIP MORRIS INTL INC
TRIM -15%·5.7% book·−5
PGPROCTER AND GAMBLE CO
TRIM -7%·3.6% book·−8
NKENIKE INC
TRIM -6%·2.1% book·+5
GRACOGRACO INC
TRIM -36%·0.3% book·−3
Current top holdings
Terry Smith’s book, latest snapshot
Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.