Investor: Terry Smith
Number of Assets: 37
Reporting Period: Q4 - 2025
Holdings at Report: $17,116,090,918
Return Since Report: -$1,718,541,788
Return Since Report: -10.04%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Adma Biologics Inc. (ADMA) | Equity | +100% | 2,102,054 | 0.22% | $18.24 | $9.01 | $38,341,465 | $18,939,507 | -$19,401,958 | -50.60% |
| Alphabet Inc. (GOOGL) | Equity | -44.37% | 3,498,519 | 6.40% | $313.00 | $287.22 | $1,095,036,447 | $1,004,844,627 | -$90,191,820 | -8.24% |
| Automatic Data Processing Inc. (ADP) | Equity | -3.10% | 4,177,969 | 6.28% | $257.23 | $203.34 | $1,074,698,966 | $849,548,216 | -$225,150,750 | -20.95% |
| Catalyst Pharmaceuticals Inc. (CPRX) | Equity | 0% | 3,363,807 | 0.46% | $23.34 | $24.76 | $78,511,255 | $83,287,861 | +$4,776,606 | +6.08% |
| Church & Dwight Co. Inc. (CHD) | Equity | -0.97% | 6,728,404 | 3.30% | $83.85 | $93.44 | $564,176,675 | $628,688,613 | +$64,511,938 | +11.43% |
| The Clorox Company (CLX) | Equity | 0% | 613,497 | 0.36% | $100.83 | $103.59 | $61,858,903 | $63,552,154 | +$1,693,251 | +2.74% |
| Doximity Inc. (DOCS) | Equity | +21.69% | 1,650,002 | 0.43% | $44.28 | $23.29 | $73,062,089 | $38,428,547 | -$34,633,542 | -47.40% |
| Fortinet Inc. (FTNT) | Equity | -22.61% | 6,516,011 | 3.02% | $79.41 | $81.58 | $517,436,434 | $531,543,597 | +$14,107,163 | +2.73% |
| Graco Inc. (GGG) | Equity | -35.70% | 579,016 | 0.28% | $81.97 | $84.69 | $47,461,942 | $49,036,865 | +$1,574,923 | +3.32% |
| The Home Depot Inc. (HD) | Equity | -5.48% | 80,206 | 0.16% | $344.10 | $328.05 | $27,598,885 | $26,311,578 | -$1,287,307 | -4.66% |
| Idexx Laboratories Inc. (IDXX) | Equity | -28.13% | 1,876,035 | 7.42% | $676.53 | $562.43 | $1,269,193,959 | $1,055,138,365 | -$214,055,594 | -16.87% |
| Intuit Inc. (INTU) | Equity | +3.50% | 625,619 | 2.42% | $662.42 | $432.26 | $414,422,538 | $270,430,069 | -$143,992,469 | -34.75% |
| Manhattan Associates Inc. (MANH) | Equity | 0% | 288,332 | 0.29% | $173.31 | $133.68 | $49,970,819 | $38,542,780 | -$11,428,039 | -22.87% |
| Marriott International Inc. (MAR) | Equity | -5.87% | 3,979,927 | 7.21% | $310.24 | $326.92 | $1,234,732,552 | $1,301,117,735 | +$66,385,183 | +5.38% |
| Medpace Holdings Inc. (MEDP) | Equity | -35.26% | 82,567 | 0.27% | $561.65 | $480.19 | $46,373,756 | $39,647,848 | -$6,725,908 | -14.50% |
| Meta Platforms Inc. (META) | Equity | -12.52% | 1,363,539 | 5.26% | $660.09 | $570.25 | $900,058,459 | $777,558,115 | -$122,500,344 | -13.61% |
| Mettler-Toledo International Inc. (MTD) | Equity | -1.72% | 580,507 | 4.73% | $1,394.19 | $1,263.28 | $809,337,054 | $733,342,883 | -$75,994,171 | -9.39% |
| Microsoft Corp. (MSFT) | Equity | -19.49% | 2,079,971 | 5.88% | $483.62 | $370.17 | $1,005,915,575 | $769,942,865 | -$235,972,710 | -23.46% |
| MSCI Inc. (MSCI) | Equity | 0% | 166,619 | 0.56% | $573.73 | $539.05 | $95,594,319 | $89,815,972 | -$5,778,347 | -6.04% |
| Napco Security Technologies Inc. (NSSC) | Equity | 0% | 1,779,857 | 0.43% | $41.70 | $39.42 | $74,220,037 | $70,161,963 | -$4,058,074 | -5.47% |
| Nike Inc. (NKE) | Equity | -5.86% | 5,770,181 | 2.15% | $63.71 | $52.84 | $367,618,232 | $304,896,364 | -$62,721,868 | -17.06% |
| Nutanix Inc. (NTNX) | Equity | +100% | 1,377,158 | 0.42% | $51.69 | $38.12 | $71,185,297 | $52,497,263 | -$18,688,034 | -26.25% |
| Oddity Tech Ltd. (ODD) | Equity | +46.38% | 2,074,167 | 0.49% | $40.18 | $13.40 | $83,340,030 | $27,793,838 | -$55,546,192 | -66.65% |
| Otis Worldwide Corp. (OTIS) | Equity | -46.51% | 3,112,380 | 1.59% | $87.35 | $77.07 | $271,866,393 | $239,871,127 | -$31,995,266 | -11.77% |
| Paycom Software Inc. (PAYC) | Equity | 0% | 523,433 | 0.49% | $159.36 | $121.43 | $83,414,283 | $63,560,469 | -$19,853,814 | -23.80% |
| Philip Morris International Inc. (PM) | Equity | -14.80% | 6,124,597 | 5.74% | $160.40 | $165.49 | $982,385,359 | $1,013,559,558 | +$31,174,199 | +3.17% |
| The Procter & Gamble Company (PG) | Equity | -7.19% | 4,248,048 | 3.56% | $143.31 | $144.42 | $608,787,759 | $613,503,092 | +$4,715,333 | +0.77% |
| Qualys Inc. (QLYS) | Equity | -25.61% | 647,806 | 0.50% | $132.90 | $87.52 | $86,093,417 | $56,692,742 | -$29,400,675 | -34.15% |
| Rollins Inc. (ROL) | Equity | 0% | 1,478,629 | 0.52% | $60.02 | $53.57 | $88,747,313 | $79,210,156 | -$9,537,157 | -10.75% |
| Sabre Corp. (SABR) | Equity | 0% | 21,499,095 | 0.17% | $1.36 | $1.42 | $29,238,769 | $30,528,715 | +$1,289,946 | +4.41% |
| Stryker Corp. (SYK) | Equity | -19.68% | 3,687,511 | 7.57% | $351.47 | $328.57 | $1,296,049,491 | $1,211,605,489 | -$84,444,002 | -6.52% |
| Texas Instruments Inc. (TXN) | Equity | -3.61% | 2,623,552 | 2.66% | $173.49 | $193.96 | $455,160,036 | $508,864,146 | +$53,704,110 | +11.80% |
| Verisign Inc. (VRSN) | Equity | 0% | 270,634 | 0.38% | $242.95 | $249.83 | $65,750,530 | $67,611,139 | +$1,860,609 | +2.83% |
| Vertiv Holdings Co (VRT) | Equity | -30.52% | 410,944 | 0.39% | $162.01 | $249.75 | $66,577,037 | $102,633,264 | +$36,056,227 | +54.16% |
| Visa Inc. (V) | Equity | -8.29% | 3,534,684 | 7.24% | $350.71 | $301.42 | $1,239,649,026 | $1,065,406,778 | -$174,242,248 | -14.06% |
| Waters Corp. (WAT) | Equity | -10.05% | 3,557,978 | 7.90% | $379.83 | $297.54 | $1,351,426,784 | $1,058,640,774 | -$292,786,010 | -21.66% |
| Zoetis Inc. (ZTS) | Equity | +7.90% | 3,900,803 | 2.87% | $125.82 | $118.13 | $490,799,033 | $460,794,057 | -$30,004,976 | -6.11% |