PaperPanda Fund Terminal
Terry Smith
Fundsmith LLP · CIK: 1569205 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
Loading chart data...
Holdings
Total: $17,116,090,918 · 37 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 WAT
|
WATERS CORP | COM | 7.9% | $1,351,426,784 | 3,557,978 | REDUCE | -397,520 |
| 2 |
 SYK
|
STRYKER CORPORATION | COM | 7.6% | $1,296,049,491 | 3,687,511 | REDUCE | -903,782 |
| 3 |
 IDXX
|
IDEXX LABS INC | COM | 7.4% | $1,269,193,959 | 1,876,035 | REDUCE | -734,422 |
| 4 |
 V
|
VISA INC | COM | 7.2% | $1,239,649,026 | 3,534,684 | REDUCE | -319,652 |
| 5 |
 MAR
|
MARRIOTT INTL INC NEW | COM | 7.2% | $1,234,732,552 | 3,979,927 | REDUCE | -248,371 |
| 6 |
 GOOGL
|
ALPHABET INC | COM | 6.4% | $1,095,036,447 | 3,498,519 | REDUCE | -2,790,833 |
| 7 |
 ADP
|
AUTOMATIC DATA PROCESSING IN | COM | 6.3% | $1,074,698,966 | 4,177,969 | REDUCE | -133,634 |
| 8 |
 MSFT
|
MICROSOFT CORP | COM | 5.9% | $1,005,915,575 | 2,079,971 | REDUCE | -503,398 |
| 9 |
 PM
|
PHILIP MORRIS INTL INC | COM | 5.7% | $982,385,359 | 6,124,597 | REDUCE | -1,063,547 |
| 10 |
 META
|
META PLATFORMS INC | COM | 5.3% | $900,058,459 | 1,363,539 | REDUCE | -195,125 |
| 11 |
 MTD
|
METTLER TOLEDO INTERNATIONAL | COM | 4.7% | $809,337,054 | 580,507 | REDUCE | -10,147 |
| 12 |
 PG
|
PROCTER AND GAMBLE CO | COM | 3.6% | $608,787,759 | 4,248,048 | REDUCE | -328,992 |
| 13 |
 CHD
|
CHURCH AND DWIGHT CO INC | COM | 3.3% | $564,176,675 | 6,728,404 | REDUCE | -66,240 |
| 14 |
 FTNT
|
FORTINET INC | COM | 3.0% | $517,436,434 | 6,516,011 | REDUCE | -1,904,081 |
| 15 |
 ZTS
|
ZOETIS INC | COM | 2.9% | $490,799,033 | 3,900,803 | ADD | +285,672 |
| 16 |
 TXN
|
TEXAS INSTRS INC | COM | 2.7% | $455,160,036 | 2,623,552 | REDUCE | -98,329 |
| 17 |
 INTU
|
INTUIT | COM | 2.4% | $414,422,538 | 625,619 | ADD | +21,163 |
| 18 |
 NKE
|
NIKE INC | COM | 2.1% | $367,618,232 | 5,770,181 | REDUCE | -359,302 |
| 19 |
 OTIS
|
OTIS WORLDWIDE CORP | COM | 1.6% | $271,866,393 | 3,112,380 | REDUCE | -2,706,771 |
| 20 |
 MXB
|
MSCI INC | COM | 0.6% | $95,594,319 | 166,619 | - | - |
| 21 |
 ROL
|
ROLLINS INC | COM | 0.5% | $88,747,313 | 1,478,629 | - | - |
| 22 |
 QLYS
|
QUALYS INC | COM | 0.5% | $86,093,417 | 647,806 | REDUCE | -223,053 |
| 23 |
 PAYC
|
PAYCOM SOFTWARE INC | COM | 0.5% | $83,414,283 | 523,433 | - | - |
| 24 |
 ODD
|
ODDITY TECH LTD | COM | 0.5% | $83,340,030 | 2,074,167 | ADD | +657,211 |
| 25 |
 CPRX
|
CATALYST PHARMACEUTICALS INC | COM | 0.5% | $78,511,255 | 3,363,807 | - | - |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | QLYS | QUALYS INC | REDUCE | -223,053 | -25.6% | 647,806 | $86,093,417 |
| 2 | NTNX | NUTANIX INC | NEW BUY | +1,377,158 | New | 1,377,158 | $71,185,297 |
| 3 | ADP | AUTOMATIC DATA PROCESSING IN | REDUCE | -133,634 | -3.1% | 4,177,969 | $1,074,698,966 |
| 4 | SYK | STRYKER CORPORATION | REDUCE | -903,782 | -19.7% | 3,687,511 | $1,296,049,491 |
| 5 | MEDP | MEDPACE HLDGS INC | REDUCE | -44,970 | -35.3% | 82,567 | $46,373,756 |
| 6 | TXN | TEXAS INSTRS INC | REDUCE | -98,329 | -3.6% | 2,623,552 | $455,160,036 |
| 7 | ODD | ODDITY TECH LTD | ADD | +657,211 | +46.4% | 2,074,167 | $83,340,030 |
| 8 | MTD | METTLER TOLEDO INTERNATIONAL | REDUCE | -10,147 | -1.7% | 580,507 | $809,337,054 |
| 9 | HD | HOME DEPOT INC | REDUCE | -4,654 | -5.5% | 80,206 | $27,598,885 |
| 10 | NKE | NIKE INC | REDUCE | -359,302 | -5.9% | 5,770,181 | $367,618,232 |
| 11 | FTNT | FORTINET INC | REDUCE | -1,904,081 | -22.6% | 6,516,011 | $517,436,434 |
| 12 | PM | PHILIP MORRIS INTL INC | REDUCE | -1,063,547 | -14.8% | 6,124,597 | $982,385,359 |
| 13 | GOOGL | ALPHABET INC | REDUCE | -2,790,833 | -44.4% | 3,498,519 | $1,095,036,447 |
| 14 | ZTS | ZOETIS INC | ADD | +285,672 | +7.9% | 3,900,803 | $490,799,033 |
| 15 | MSFT | MICROSOFT CORP | REDUCE | -503,398 | -19.5% | 2,079,971 | $1,005,915,575 |
| 16 | V | VISA INC | REDUCE | -319,652 | -8.3% | 3,534,684 | $1,239,649,026 |
| 17 | DOCS | DOXIMITY INC | ADD | +294,058 | +21.7% | 1,650,002 | $73,062,089 |
| 18 | VRT | VERTIV HOLDINGS CO | REDUCE | -180,506 | -30.5% | 410,944 | $66,577,037 |
| 19 | MAR | MARRIOTT INTL INC NEW | REDUCE | -248,371 | -5.9% | 3,979,927 | $1,234,732,552 |
| 20 | ADMA | ADMA BIOLOGICS INC | NEW BUY | +2,102,054 | New | 2,102,054 | $38,341,465 |
| 21 | PG | PROCTER AND GAMBLE CO | REDUCE | -328,992 | -7.2% | 4,248,048 | $608,787,759 |
| 22 | OTIS | OTIS WORLDWIDE CORP | REDUCE | -2,706,771 | -46.5% | 3,112,380 | $271,866,393 |
| 23 | META | META PLATFORMS INC | REDUCE | -195,125 | -12.5% | 1,363,539 | $900,058,459 |
| 24 | IDXX | IDEXX LABS INC | REDUCE | -734,422 | -28.1% | 1,876,035 | $1,269,193,959 |
| 25 | GGG | GRACO INC | REDUCE | -321,529 | -35.7% | 579,016 | $47,461,942 |
| 26 | CHD | CHURCH AND DWIGHT CO INC | REDUCE | -66,240 | -1.0% | 6,728,404 | $564,176,675 |
| 27 | INTU | INTUIT | ADD | +21,163 | +3.5% | 625,619 | $414,422,538 |
| 28 | WAT | WATERS CORP | REDUCE | -397,520 | -10.0% | 3,557,978 | $1,351,426,784 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | QLYS | QUALYS INC | ADD | +152,257 | +21.2% | 870,859 | $115,240,771 |
| 2 | - | CHOICE HOTELS INTL INC | SOLD | -733,892 | Exit | - | - |
| 3 | ADP | AUTOMATIC DATA PROCESSING IN | REDUCE | -50,496 | -1.2% | 4,311,603 | $1,265,455,481 |
| 4 | SYK | STRYKER CORPORATION | REDUCE | -85,714 | -1.8% | 4,591,293 | $1,697,263,283 |
| 5 | PAYC | PAYCOM SOFTWARE INC | ADD | +109,923 | +26.6% | 523,433 | $108,947,345 |
| 6 | TXN | TEXAS INSTRS INC | ADD | +1,591 | +0.1% | 2,721,881 | $500,091,196 |
| 7 | MTD | METTLER TOLEDO INTERNATIONAL | ADD | +617 | +0.1% | 590,654 | $725,092,757 |
| 8 | HD | HOME DEPOT INC | ADD | +1,493 | +1.8% | 84,860 | $34,384,423 |
| 9 | FTNT | FORTINET INC | ADD | +1,730 | +0.0% | 8,420,092 | $707,961,335 |
| 10 | PM | PHILIP MORRIS INTL INC | REDUCE | -1,886,051 | -20.8% | 7,188,144 | $1,165,916,957 |
| 11 | GOOGL | ALPHABET INC | REDUCE | -514,102 | -7.6% | 6,289,352 | $1,528,941,471 |
| 12 | ZTS | ZOETIS INC | ADD | +730,300 | +25.3% | 3,615,131 | $528,965,968 |
| 13 | MSFT | MICROSOFT CORP | REDUCE | -2,358,140 | -47.7% | 2,583,369 | $1,338,055,974 |
| 14 | V | VISA INC | ADD | +265 | +0.0% | 3,854,336 | $1,315,793,224 |
| 15 | VRT | VERTIV HOLDINGS CO | REDUCE | -133,473 | -18.4% | 591,450 | $89,226,147 |
| 16 | - | MASTERCARD INCORPORATED | SOLD | -27,663 | Exit | - | - |
| 17 | MAR | MARRIOTT INTL INC NEW | REDUCE | -8,301 | -0.2% | 4,228,298 | $1,101,217,931 |
| 18 | - | VERISK ANALYTICS INC | SOLD | -176,195 | Exit | - | - |
| 19 | PG | PROCTER AND GAMBLE CO | ADD | +4,760 | +0.1% | 4,577,040 | $703,262,196 |
| 20 | META | META PLATFORMS INC | REDUCE | -2,010,088 | -56.3% | 1,558,664 | $1,144,651,668 |
| 21 | IDXX | IDEXX LABS INC | REDUCE | -28,832 | -1.1% | 2,610,457 | $1,667,794,873 |
| 22 | NSSC | NAPCO SEC TECHNOLOGIES INC | ADD | +824,945 | +86.4% | 1,779,857 | $76,444,858 |
| 23 | CPRX | CATALYST PHARMACEUTICALS INC | ADD | +654,721 | +24.2% | 3,363,807 | $66,266,998 |
| 24 | CHD | CHURCH & DWIGHT CO INC | REDUCE | -29,645 | -0.4% | 6,794,644 | $595,414,654 |
| 25 | INTU | INTUIT | ADD | +235,916 | +64.0% | 604,456 | $412,789,047 |
| 26 | WAT | WATERS CORP | ADD | +347,091 | +9.6% | 3,955,498 | $1,185,897,855 |
| 27 | - | EXPONENT INC | SOLD | -746,820 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | MTD | METTLER TOLEDO INTERNATIONAL | REDUCE | -801 | -0.1% | 590,037 | $693,128,265 |
| 2 | NKE | NIKE INC | REDUCE | -6,146 | -0.1% | 6,129,483 | $435,438,472 |
| 3 | ZTS | ZOETIS INC | ADD | +338,344 | +13.3% | 2,884,831 | $449,889,394 |
| 4 | MSFT | MICROSOFT CORP | REDUCE | -428,653 | -8.0% | 4,941,509 | $2,457,955,992 |
| 5 | V | VISA INC | REDUCE | -282,953 | -6.8% | 3,854,071 | $1,368,387,909 |
| 6 | - | MASTERCARD INCORPORATED | REDUCE | -21,791 | -44.1% | 27,663 | $15,544,946 |
| 7 | - | BROWN FORMAN CORP | SOLD | -9,637,881 | Exit | - | - |
| 8 | - | EQUIFAX INC | SOLD | -235,505 | Exit | - | - |
| 9 | NSSC | NAPCO SEC TECHNOLOGIES INC | NEW BUY | +954,912 | New | 954,912 | $28,351,337 |
| 10 | GGG | GRACO INC | REDUCE | -239,096 | -21.0% | 900,545 | $77,419,854 |
| 11 | CHD | CHURCH & DWIGHT CO INC | REDUCE | -23,197 | -0.3% | 6,824,289 | $655,882,416 |
| 12 | ADP | AUTOMATIC DATA PROCESSING IN | REDUCE | -151,800 | -3.4% | 4,362,099 | $1,345,271,332 |
| 13 | SYK | STRYKER CORPORATION | REDUCE | -392,180 | -7.7% | 4,677,007 | $1,850,364,279 |
| 14 | TXN | TEXAS INSTRS INC | REDUCE | -5,522 | -0.2% | 2,720,290 | $564,786,610 |
| 15 | ODD | ODDITY TECH LTD | REDUCE | -198,202 | -12.3% | 1,416,956 | $106,937,669 |
| 16 | VRSN | VERISIGN INC | REDUCE | -299,401 | -52.5% | 270,634 | $78,159,099 |
| 17 | HD | HOME DEPOT INC | REDUCE | -31,369 | -27.3% | 83,367 | $30,565,677 |
| 18 | FTNT | FORTINET INC | REDUCE | -104,678 | -1.2% | 8,418,362 | $889,989,231 |
| 19 | PM | PHILIP MORRIS INTL INC | REDUCE | -1,731,697 | -16.0% | 9,074,195 | $1,652,683,135 |
| 20 | GOOGL | ALPHABET INC | REDUCE | -39,759 | -0.6% | 6,803,454 | $1,198,972,698 |
| 21 | DOCS | DOXIMITY INC | ADD | +166,062 | +14.0% | 1,355,944 | $83,173,605 |
| 22 | VRT | VERTIV HOLDINGS CO | NEW BUY | +724,923 | New | 724,923 | $93,087,362 |
| 23 | MAR | MARRIOTT INTL INC NEW | REDUCE | -14,961 | -0.4% | 4,236,599 | $1,157,481,213 |
| 24 | - | VERISK ANALYTICS INC | REDUCE | -154,429 | -46.7% | 176,195 | $54,884,743 |
| 25 | PG | PROCTER AND GAMBLE CO | REDUCE | -48,126 | -1.0% | 4,572,280 | $728,455,650 |
| 26 | MANH | MANHATTAN ASSOCIATES INC | NEW BUY | +288,332 | New | 288,332 | $56,936,920 |
| 27 | OTIS | OTIS WORLDWIDE CORP | REDUCE | -47,586 | -0.8% | 5,819,151 | $576,212,332 |
| 28 | META | META PLATFORMS INC | REDUCE | -315,044 | -8.1% | 3,568,752 | $2,634,060,164 |
| 29 | IDXX | IDEXX LABS INC | REDUCE | -9,042 | -0.3% | 2,639,289 | $1,415,556,262 |
| 30 | CPRX | CATALYST PHARMACEUTICALS INC | ADD | +557,812 | +25.9% | 2,709,086 | $58,787,166 |
| 31 | INTU | INTUIT | ADD | +186,912 | +102.9% | 368,540 | $290,273,160 |
| 32 | ROL | ROLLINS INC | REDUCE | -118,884 | -7.4% | 1,478,629 | $83,424,248 |
| 33 | WAT | WATERS CORP | REDUCE | -4,790 | -0.1% | 3,608,407 | $1,259,478,379 |
| 34 | - | EXPONENT INC | REDUCE | -89,657 | -10.7% | 746,820 | $55,794,922 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | QLYS | QUALYS INC | ADD | +170,593 | +31.1% | 718,602 | $90,493,550 |
| 2 | - | PEPSICO INC | SOLD | -5,663,677 | Exit | - | - |
| 3 | ADP | AUTOMATIC DATA PROCESSING IN | REDUCE | -499,813 | -10.0% | 4,513,899 | $1,379,131,561 |
| 4 | SYK | STRYKER CORPORATION | REDUCE | -264,790 | -5.0% | 5,069,187 | $1,887,004,861 |
| 5 | PAYC | PAYCOM SOFTWARE INC | ADD | +90,899 | +28.2% | 413,510 | $90,343,665 |
| 6 | TXN | TEXAS INSTRS INC | ADD | +1,025,182 | +60.3% | 2,725,812 | $489,828,416 |
| 7 | MTD | METTLER TOLEDO INTERNATIONAL | REDUCE | -617 | -0.1% | 590,838 | $697,726,503 |
| 8 | VRSN | VERISIGN INC | REDUCE | -54,465 | -8.7% | 570,035 | $144,714,785 |
| 9 | HD | HOME DEPOT INC | REDUCE | -30,903 | -21.2% | 114,736 | $42,049,597 |
| 10 | FTNT | FORTINET INC | REDUCE | -7,383 | -0.1% | 8,523,040 | $820,427,830 |
| 11 | PM | PHILIP MORRIS INTL INC | REDUCE | -439,283 | -3.9% | 10,805,892 | $1,715,219,237 |
| 12 | GOOGL | ALPHABET INC | REDUCE | -5,065 | -0.1% | 6,843,213 | $1,058,234,458 |
| 13 | ZTS | ZOETIS INC | ADD | +2,319,158 | +1020.2% | 2,546,487 | $419,279,085 |
| 14 | MSFT | MICROSOFT CORP | REDUCE | -816,871 | -13.2% | 5,370,162 | $2,015,905,113 |
| 15 | V | VISA INC | REDUCE | -485,543 | -10.5% | 4,137,024 | $1,449,861,431 |
| 16 | DOCS | DOXIMITY INC | ADD | +479,380 | +67.5% | 1,189,882 | $69,048,852 |
| 17 | - | MASTERCARD INCORPORATED | REDUCE | -14,579 | -22.8% | 49,454 | $27,106,726 |
| 18 | MAR | MARRIOTT INTL INC NEW | REDUCE | -3,780 | -0.1% | 4,251,560 | $1,012,721,592 |
| 19 | - | VERISK ANALYTICS INC | REDUCE | -87,061 | -20.8% | 330,624 | $98,400,315 |
| 20 | - | IDEX CORP | SOLD | -362,501 | Exit | - | - |
| 21 | - | EQUIFAX INC | REDUCE | -127,823 | -35.2% | 235,505 | $57,359,598 |
| 22 | PG | PROCTER AND GAMBLE CO | REDUCE | -5,970 | -0.1% | 4,620,406 | $787,409,591 |
| 23 | OTIS | OTIS WORLDWIDE CORP | REDUCE | -100,040 | -1.7% | 5,866,737 | $605,447,258 |
| 24 | META | META PLATFORMS INC | REDUCE | -677,556 | -14.9% | 3,883,796 | $2,238,464,663 |
| 25 | IDXX | IDEXX LABS INC | REDUCE | -14,524 | -0.5% | 2,648,331 | $1,112,166,603 |
| 26 | CPRX | CATALYST PHARMACEUTICALS INC | NEW BUY | +2,151,274 | New | 2,151,274 | $52,168,395 |
| 27 | CHD | CHURCH & DWIGHT CO INC | REDUCE | -9,635 | -0.1% | 6,847,486 | $753,839,734 |
| 28 | INTU | INTUIT | NEW BUY | +181,628 | New | 181,628 | $111,517,776 |
| 29 | WAT | WATERS CORP | REDUCE | -21,325 | -0.6% | 3,613,197 | $1,331,716,018 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | PEPSICO INC | REDUCE | -76,311 | -1.3% | 5,663,677 | $861,218,725 |
| 2 | MTD | METTLER TOLEDO INTERNATIONAL | REDUCE | -464 | -0.1% | 591,455 | $723,751,654 |
| 3 | NKE | NIKE INC | REDUCE | -163,864 | -2.6% | 6,135,629 | $464,283,046 |
| 4 | ZTS | ZOETIS INC | REDUCE | -3,397 | -1.5% | 227,329 | $37,038,714 |
| 5 | MSFT | MICROSOFT CORP | REDUCE | -713,242 | -10.3% | 6,187,033 | $2,607,834,410 |
| 6 | V | VISA INC | REDUCE | -924,264 | -16.7% | 4,622,567 | $1,460,916,075 |
| 7 | - | COGNEX CORP | SOLD | -1,906,276 | Exit | - | - |
| 8 | - | MASTERCARD INCORPORATED | REDUCE | -957 | -1.5% | 64,033 | $33,717,857 |
| 9 | - | BROWN FORMAN CORP | REDUCE | -372,626 | -3.7% | 9,637,881 | $366,046,720 |
| 10 | - | MCDONALD S ORD | SOLD | -94,403 | Exit | - | - |
| 11 | CHD | CHURCH & DWIGHT CO INC | REDUCE | -25,654 | -0.4% | 6,857,121 | $718,009,140 |
| 12 | ADP | AUTOMATIC DATA PROCESSING IN | REDUCE | -558,108 | -10.0% | 5,013,712 | $1,467,663,914 |
| 13 | SYK | STRYKER CORPORATION | REDUCE | -2,844 | -0.1% | 5,333,977 | $1,920,498,419 |
| 14 | MEDP | MEDPACE HLDGS INC | NEW BUY | +127,537 | New | 127,537 | $42,371,618 |
| 15 | HD | HOME DEPOT INC | REDUCE | -2,176 | -1.5% | 145,639 | $56,652,115 |
| 16 | - | Apple | SOLD | -1,558,589 | Exit | - | - |
| 17 | FTNT | FORTINET INC | REDUCE | -1,587,870 | -15.7% | 8,530,423 | $805,954,365 |
| 18 | - | MCCORMICK & CO NON VTG SHRS | SOLD | -1,728,157 | Exit | - | - |
| 19 | PM | PHILIP MORRIS INTL INC | REDUCE | -767,484 | -6.4% | 11,245,175 | $1,353,356,811 |
| 20 | GOOGL | ALPHABET INC | REDUCE | -3,809 | -0.1% | 6,848,278 | $1,296,379,025 |
| 21 | DOCS | DOXIMITY INC | NEW BUY | +710,502 | New | 710,502 | $37,933,702 |
| 22 | MAR | MARRIOTT INTL INC NEW | REDUCE | -11,315 | -0.3% | 4,255,340 | $1,186,984,540 |
| 23 | PG | PROCTER AND GAMBLE CO | REDUCE | -6,846 | -0.1% | 4,626,376 | $775,611,936 |
| 24 | OTIS | OTIS WORLDWIDE CORP | REDUCE | -174,451 | -2.8% | 5,966,777 | $552,583,218 |
| 25 | META | META PLATFORMS INC | REDUCE | -310,012 | -6.4% | 4,561,352 | $2,670,717,210 |
| 26 | IDXX | IDEXX LABS INC | REDUCE | -1,307 | -0.0% | 2,662,855 | $1,100,930,771 |
| 27 | WAT | WATERS CORP | REDUCE | -11,477 | -0.3% | 3,634,522 | $1,348,334,972 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | PEPSICO INC | REDUCE | -21,099 | -0.4% | 5,739,988 | $976,084,959 |
| 2 | MTD | METTLER TOLEDO ORD | ADD | +344 | +0.1% | 591,919 | $887,700,924 |
| 3 | ZTS | ZOETIS CL A ORD | ADD | +2,521 | +1.1% | 230,726 | $45,079,246 |
| 4 | MSFT | MICROSOFT CORP | REDUCE | -240,340 | -3.4% | 6,900,275 | $2,969,188,333 |
| 5 | V | VISA INC CLASS A SHARES | REDUCE | -5,689 | -0.1% | 5,546,831 | $1,525,101,183 |
| 6 | - | MASTERCARD CL A ORD | ADD | +710 | +1.1% | 64,990 | $32,092,062 |
| 7 | - | BROWN FORMAN CORP CLASS B | REDUCE | -1,128,244 | -10.1% | 10,010,507 | $492,516,944 |
| 8 | - | EQUIFAX INC | REDUCE | -95,059 | -20.7% | 363,328 | $106,767,566 |
| 9 | - | MCDONALD S ORD | ADD | +1,032 | +1.1% | 94,403 | $28,746,658 |
| 10 | CHD | CHURCH AND DWIGHT ORD | REDUCE | -31,591 | -0.5% | 6,882,775 | $720,764,198 |
| 11 | CLX | CLOROX COMPANY | ADD | +43,291 | +7.6% | 613,497 | $99,944,796 |
| 12 | ADP | AUTOMATIC DATA PROCESSING | REDUCE | -13,941 | -0.2% | 5,571,820 | $1,541,889,749 |
| 13 | SYK | STRYKER CORP | REDUCE | -19,443 | -0.4% | 5,336,821 | $1,927,979,954 |
| 14 | TXN | TEXAS INSTRUMENTS INC | ADD | +155,849 | +10.1% | 1,700,630 | $351,299,139 |
| 15 | HD | HOME DEPOT ORD | ADD | +1,615 | +1.1% | 147,815 | $59,894,638 |
| 16 | FTNT | FORTINET ORD | REDUCE | -167,371 | -1.6% | 10,118,293 | $784,673,622 |
| 17 | - | MCCORMICK & CO NON VTG SHRS | REDUCE | -8,320,340 | -82.8% | 1,728,157 | $142,227,321 |
| 18 | PM | PHILIP MORRIS INTERNATIONAL | REDUCE | -2,461,786 | -17.0% | 12,012,659 | $1,458,336,803 |
| 19 | GOOGL | ALPHABET CL A ORD | ADD | +2,828 | +0.0% | 6,852,087 | $1,136,418,629 |
| 20 | MAR | MARRIOTT INTERNATIONAL CL A | ADD | +2,144 | +0.1% | 4,266,655 | $1,060,690,433 |
| 21 | - | VERISK ANALYTICS INC | REDUCE | -46,366 | -10.0% | 417,685 | $111,922,873 |
| 22 | PG | PROCTER & GAMBLE ORD | REDUCE | -13,996 | -0.3% | 4,633,222 | $802,474,050 |
| 23 | OTIS | OTIS WORLDWIDE ORD | ADD | +2,950 | +0.0% | 6,141,228 | $638,319,238 |
| 24 | IDXX | IDEXX LABORATORIES INC | ADD | +970 | +0.0% | 2,664,162 | $1,345,987,926 |
| 25 | WAT | WATERS CORP | REDUCE | -8,451 | -0.2% | 3,645,999 | $1,312,158,580 |
| 26 | - | EXPONENT INC | REDUCE | -181,621 | -17.8% | 836,477 | $96,429,069 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | CHOICE HOTELS INTERNATIONAL ORD | REDUCE | -23,052 | -3.0% | 733,892 | $87,333,148 |
| 2 | - | PEPSICO INC | REDUCE | -84,860 | -1.5% | 5,761,087 | $950,176,079 |
| 3 | PAYC | PAYCOM SOFTWARE INC | REDUCE | -2,660 | -0.8% | 322,611 | $46,146,277 |
| 4 | MTD | METTLER TOLEDO ORD | REDUCE | -18,521 | -3.0% | 591,575 | $826,779,304 |
| 5 | NKE | NIKE INC CL B | REDUCE | -212,924 | -3.3% | 6,299,493 | $474,792,787 |
| 6 | ZTS | ZOETIS CL A ORD | REDUCE | -600 | -0.3% | 228,205 | $39,561,619 |
| 7 | MSFT | MICROSOFT CORP | REDUCE | -477,288 | -6.3% | 7,140,615 | $3,191,497,874 |
| 8 | V | VISA INC CLASS A SHARES | REDUCE | -138,076 | -2.4% | 5,552,520 | $1,457,369,924 |
| 9 | - | COGNEX CORP | REDUCE | -59,959 | -3.0% | 1,906,276 | $89,137,466 |
| 10 | - | MASTERCARD CL A ORD | REDUCE | -169 | -0.3% | 64,280 | $28,357,765 |
| 11 | - | BROWN FORMAN CORP CLASS B | REDUCE | -320,029 | -2.8% | 11,138,751 | $481,082,656 |
| 12 | - | IDEX ORD | REDUCE | -11,401 | -3.0% | 362,501 | $72,935,201 |
| 13 | - | EQUIFAX INC | REDUCE | -14,418 | -3.0% | 458,387 | $111,140,512 |
| 14 | - | MCDONALD S ORD | REDUCE | -246 | -0.3% | 93,371 | $23,794,666 |
| 15 | MXB | MSCI INC | REDUCE | -5,240 | -3.0% | 166,619 | $80,268,703 |
| 16 | GGG | GRACO ORD | REDUCE | -35,845 | -3.0% | 1,139,641 | $90,350,738 |
| 17 | CHD | CHURCH AND DWIGHT ORD | REDUCE | -257,074 | -3.6% | 6,914,366 | $716,881,467 |
| 18 | QLYS | QUALYS INC | REDUCE | -17,237 | -3.0% | 548,009 | $78,146,083 |
| 19 | CLX | CLOROX COMPANY | REDUCE | -17,935 | -3.0% | 570,206 | $77,816,013 |
| 20 | ADP | AUTOMATIC DATA PROCESSING | REDUCE | -180,108 | -3.1% | 5,585,761 | $1,333,265,293 |
| 21 | SYK | STRYKER CORP | REDUCE | -122,802 | -2.2% | 5,356,264 | $1,822,468,826 |
| 22 | TXN | TEXAS INSTRUMENTS INC | ADD | +433,475 | +39.0% | 1,544,781 | $300,506,248 |
| 23 | ODD | ODDITY TECH LTD | ADD | +287,845 | +21.7% | 1,615,158 | $63,411,103 |
| 24 | VRSN | VERISIGN INC | REDUCE | -19,643 | -3.0% | 624,500 | $111,036,100 |
| 25 | - | Apple | REDUCE | -38,955 | -2.4% | 1,558,589 | $328,270,015 |
| 26 | HD | HOME DEPOT ORD | REDUCE | -384 | -0.3% | 146,200 | $50,327,888 |
| 27 | FTNT | FORTINET ORD | ADD | +2,110,679 | +25.8% | 10,285,664 | $619,916,969 |
| 28 | - | MCCORMICK & CO NON VTG SHRS | REDUCE | -2,181,066 | -17.8% | 10,048,497 | $712,840,377 |
| 29 | PM | PHILIP MORRIS INTERNATIONAL | REDUCE | -347,792 | -2.3% | 14,474,445 | $1,466,695,512 |
| 30 | GOOGL | ALPHABET CL A ORD | REDUCE | -131,733 | -1.9% | 6,849,259 | $1,247,592,527 |
| 31 | SABR | SABRE CORP | REDUCE | -177,233 | -0.8% | 21,499,095 | $57,402,584 |
| 32 | MAR | MARRIOTT INTERNATIONAL CL A | REDUCE | -99,787 | -2.3% | 4,264,511 | $1,031,030,824 |
| 33 | - | VERISK ANALYTICS INC | REDUCE | -14,596 | -3.0% | 464,051 | $125,084,947 |
| 34 | PG | PROCTER & GAMBLE ORD | REDUCE | -151,864 | -3.2% | 4,647,218 | $766,419,193 |
| 35 | OTIS | OTIS WORLDWIDE ORD | REDUCE | -156,825 | -2.5% | 6,138,278 | $590,870,640 |
| 36 | META | META PLATFORMS INC-CLASS A | REDUCE | -98,185 | -2.0% | 4,871,364 | $2,456,239,156 |
| 37 | IDXX | IDEXX LABORATORIES INC | REDUCE | -51,570 | -1.9% | 2,663,192 | $1,297,507,142 |
| 38 | ROL | ROLLINS ORD | REDUCE | -50,248 | -3.0% | 1,597,513 | $77,942,659 |
| 39 | WAT | WATERS CORP | REDUCE | -111,801 | -3.0% | 3,654,450 | $1,060,229,034 |
| 40 | - | EXPONENT INC | REDUCE | -32,022 | -3.0% | 1,018,098 | $96,841,482 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | CHOICE HOTELS INTERNATIONAL ORD | NEW BUY | +756,944 | New | 756,944 | $95,639,874 |
| 2 | - | PEPSICO INC | REDUCE | -784,419 | -11.8% | 5,845,947 | $1,023,099,184 |
| 3 | - | JOHNSON & JOHNSON | SOLD | -278,393 | Exit | - | - |
| 4 | PAYC | PAYCOM SOFTWARE INC | ADD | +167,427 | +106.1% | 325,271 | $64,732,182 |
| 5 | MTD | METTLER TOLEDO ORD | ADD | +42,503 | +7.5% | 610,096 | $812,214,704 |
| 6 | NKE | NIKE INC CL B | REDUCE | -172,996 | -2.6% | 6,512,417 | $612,036,950 |
| 7 | ZTS | ZOETIS CL A ORD | ADD | +2,741 | +1.2% | 228,805 | $38,716,094 |
| 8 | MSFT | MICROSOFT CORP | REDUCE | -325,421 | -4.1% | 7,617,903 | $3,205,004,150 |
| 9 | V | VISA INC CLASS A SHARES | REDUCE | -47,935 | -0.8% | 5,690,596 | $1,588,131,532 |
| 10 | - | COGNEX CORP | REDUCE | -53,083 | -2.6% | 1,966,235 | $83,407,689 |
| 11 | - | MASTERCARD CL A ORD | ADD | +772 | +1.2% | 64,449 | $31,036,705 |
| 12 | - | BROWN FORMAN CORP CLASS B | REDUCE | -193,926 | -1.7% | 11,458,780 | $591,502,224 |
| 13 | - | IDEX ORD | REDUCE | -10,095 | -2.6% | 373,902 | $91,239,566 |
| 14 | - | EQUIFAX INC | REDUCE | -12,764 | -2.6% | 472,805 | $126,484,794 |
| 15 | - | MCDONALD S ORD | ADD | +1,122 | +1.2% | 93,617 | $26,395,313 |
| 16 | MXB | MSCI INC | REDUCE | -35,306 | -17.0% | 171,859 | $96,318,377 |
| 17 | GGG | GRACO ORD | REDUCE | -31,735 | -2.6% | 1,175,486 | $109,860,922 |
| 18 | CHD | CHURCH AND DWIGHT ORD | REDUCE | -92,676 | -1.3% | 7,171,440 | $748,052,906 |
| 19 | QLYS | QUALYS INC | REDUCE | -58,709 | -9.4% | 565,246 | $94,322,600 |
| 20 | CLX | CLOROX COMPANY | REDUCE | -15,653 | -2.6% | 588,141 | $90,050,269 |
| 21 | ADP | AUTOMATIC DATA PROCESSING | REDUCE | -50,452 | -0.9% | 5,765,869 | $1,439,968,124 |
| 22 | SYK | STRYKER CORP | REDUCE | -33,560 | -0.6% | 5,479,066 | $1,960,793,349 |
| 23 | TXN | TEXAS INSTRUMENTS INC | NEW BUY | +1,111,306 | New | 1,111,306 | $193,600,618 |
| 24 | ODD | ODDITY TECH LTD | ADD | +222,897 | +20.2% | 1,327,313 | $57,671,750 |
| 25 | VRSN | VERISIGN INC | REDUCE | -17,390 | -2.6% | 644,143 | $122,071,540 |
| 26 | - | Apple | ADD | +262,959 | +19.7% | 1,597,544 | $273,946,845 |
| 27 | HD | HOME DEPOT ORD | REDUCE | -3,234 | -2.2% | 146,584 | $56,229,622 |
| 28 | - | IPG PHOTONICS CORP | SOLD | -548,993 | Exit | - | - |
| 29 | FTNT | FORTINET ORD | ADD | +843,141 | +11.5% | 8,174,985 | $558,433,225 |
| 30 | - | MCCORMICK & CO NON VTG SHRS | REDUCE | -2,860,820 | -19.0% | 12,229,563 | $939,352,734 |
| 31 | PM | PHILIP MORRIS INTERNATIONAL | REDUCE | -215,420 | -1.4% | 14,822,237 | $1,358,013,354 |
| 32 | GOOGL | ALPHABET CL A ORD | REDUCE | -36,419 | -0.5% | 6,980,992 | $1,053,641,123 |
| 33 | SABR | SABRE CORP | REDUCE | -585,209 | -2.6% | 21,676,328 | $52,456,714 |
| 34 | MAR | MARRIOTT INTERNATIONAL CL A | REDUCE | -27,208 | -0.6% | 4,364,298 | $1,101,156,028 |
| 35 | - | VERISK ANALYTICS INC | REDUCE | -41,025 | -7.9% | 478,647 | $112,831,457 |
| 36 | PG | PROCTER & GAMBLE ORD | REDUCE | -40,850 | -0.8% | 4,799,082 | $778,651,055 |
| 37 | OTIS | OTIS WORLDWIDE ORD | REDUCE | -147,050 | -2.3% | 6,295,103 | $624,914,875 |
| 38 | META | META PLATFORMS INC-CLASS A | REDUCE | -29,157 | -0.6% | 4,969,549 | $2,413,113,603 |
| 39 | IDXX | IDEXX LABORATORIES INC | REDUCE | -14,155 | -0.5% | 2,714,762 | $1,465,781,447 |
| 40 | ROL | ROLLINS ORD | REDUCE | -44,485 | -2.6% | 1,647,761 | $76,241,901 |
| 41 | WAT | WATERS CORP | REDUCE | -34,437 | -0.9% | 3,766,251 | $1,296,456,582 |
| 42 | - | EXPONENT INC | REDUCE | -28,351 | -2.6% | 1,050,120 | $86,834,423 |
Loading deployment data...