FUNDSMITH INVESTMENT SERVICES LTD. Long-Term Concentrated

CIK: 0001868537 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $5,466,029 (100.0% shares, 0.0% debt)

Holdings (26)

New Positions (5)

BMI BADGER METER INC 0.4%

Value ($000) $23,132 Shares 132,631 Est. Cost $179.79 Unrealized 0.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value ($000) $184 Shares 605 Est. Cost $303.89 Unrealized —

TJX TJX COS INC NEW 0.0%

Value ($000) $177 Shares 1,155 Est. Cost $147.70 Unrealized 0.0%

AMZN AMAZON COM INC 0.0%

Value ($000) $165 Shares 715 Est. Cost $228.79 Unrealized 0.0%

AAPL APPLE INC 0.0%

Value ($000) $164 Shares 605 Est. Cost $268.34 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BMI	BADGER METER INC	132,631	$23,132	0.4%	$179.79	0.0%	COM	056525108
TSM	TAIWAN SEMICONDUCTOR MFG LTD	605	$184	0.0%	$303.89	—	SPONSORED ADS	874039100
TJX	TJX COS INC NEW	1,155	$177	0.0%	$147.70	0.0%	COM	872540109
AMZN	AMAZON COM INC	715	$165	0.0%	$228.79	0.0%	COM	023135106
AAPL	APPLE INC	605	$164	0.0%	$268.34	0.0%	COM	037833100

Increased Positions (1)

ZTS ZOETIS INC 2.8%

Value ($000) $151,791 (-11.8%) Shares 1,206,414 (+2.6%) Est. Cost $159.38 Unrealized -18.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZTS	ZOETIS INC	1,206,414 (+2.6%)	$151,791 (-11.8%)	2.8%	$159.38	-18.3%	CL A	98978V103

Exited Positions (2)

CPNG COUPANG INC 0.4%

Value ($000) $20,432 Shares 634,547 Est. Cost $23.24 Unrealized +22.4%

IESC IES HLDGS INC 0.2%

Value ($000) $13,282 Shares 33,400 Est. Cost $240.41 Unrealized +67.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPNG	COUPANG INC	634,547	$20,432	0.4%	$23.24	+22.4%	—	22266T109
IESC	IES HLDGS INC	33,400	$13,282	0.2%	$240.41	+67.2%	—	44951W106

Decreased Positions (19)

MSFT MICROSOFT CORP 5.9%

Value ($000) $323,324 (-37.9%) Shares 668,549 (-33.5%) Est. Cost $288.68 Unrealized +73.4%

META META PLATFORMS INC 6.3%

Value ($000) $345,581 (-33.5%) Shares 523,536 (-26.0%) Est. Cost $254.56 Unrealized +162.1%

SYK STRYKER CORPORATION 8.4%

Value ($000) $459,514 (-20.0%) Shares 1,307,407 (-15.9%) Est. Cost $254.95 Unrealized +42.6%

ADP AUTOMATIC DATA PROCESSING IN 6.3%

Value ($000) $344,256 (-18.8%) Shares 1,338,320 (-7.4%) Est. Cost $202.77 Unrealized +30.6%

GOOGL ALPHABET INC 7.2%

Value ($000) $393,509 (-16.8%) Shares 1,257,218 (-35.4%) Est. Cost $114.11 Unrealized +150.3%

IDXX IDEXX LABS INC 6.9%

Value ($000) $374,702 (-14.8%) Shares 553,859 (-19.5%) Est. Cost $519.00 Unrealized +31.2%

V VISA INC 6.9%

Value ($000) $378,596 (-11.3%) Shares 1,079,514 (-13.6%) Est. Cost $214.40 Unrealized +58.8%

FTNT FORTINET INC 2.6%

Value ($000) $144,386 (-24.7%) Shares 1,818,233 (-20.2%) Est. Cost $61.83 Unrealized +34.1%

OTIS OTIS WORLDWIDE CORP 2.0%

Value ($000) $109,320 (-27.3%) Shares 1,251,513 (-23.9%) Est. Cost $70.65 Unrealized +26.3%

PG PROCTER AND GAMBLE CO 4.7%

Value ($000) $254,678 (-12.3%) Shares 1,777,110 (-5.9%) Est. Cost $140.77 Unrealized +4.5%

TXN TEXAS INSTRS INC 2.8%

Value ($000) $151,384 (-16.4%) Shares 872,579 (-11.5%) Est. Cost $175.11 Unrealized -2.5%

WAT WATERS CORP 8.0%

Value ($000) $435,365 (+7.1%) Shares 1,146,209 (-15.5%) Est. Cost $314.45 Unrealized +17.0%

MAR MARRIOTT INTL INC NEW 7.5%

Value ($000) $408,974 (+7.3%) Shares 1,318,251 (-9.9%) Est. Cost $199.36 Unrealized +43.1%

PM PHILIP MORRIS INTL INC 6.1%

Value ($000) $335,525 (-7.4%) Shares 2,091,801 (-6.4%) Est. Cost $83.45 Unrealized +84.0%

CHD CHURCH AND DWIGHT CO INC 4.0%

Value ($000) $219,707 (-10.7%) Shares 2,620,239 (-6.6%) Est. Cost $95.41 Unrealized -10.6%

MTD METTLER TOLEDO INTERNATIONAL 6.1%

Value ($000) $334,238 (+7.3%) Shares 239,736 (-5.5%) Est. Cost $1417.73 Unrealized -1.5%

NKE NIKE INC 2.6%

Value ($000) $141,841 (-12.1%) Shares 2,226,357 (-3.8%) Est. Cost $129.72 Unrealized -50.0%

INTU INTUIT 2.1%

Value ($000) $116,824 (-9.3%) Shares 176,360 (-6.4%) Est. Cost $672.92 Unrealized -1.8%

HD HOME DEPOT INC 0.1%

Value ($000) $3,207 (-43.7%) Shares 9,321 (-33.7%) Est. Cost $302.03 Unrealized +20.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	668,549 (-33.5%)	$323,324 (-37.9%)	5.9%	$288.68	+73.4%	COM	594918104
META	META PLATFORMS INC	523,536 (-26.0%)	$345,581 (-33.5%)	6.3%	$254.56	+162.1%	CL A	30303M102
SYK	STRYKER CORPORATION	1,307,407 (-15.9%)	$459,514 (-20.0%)	8.4%	$254.95	+42.6%	COM	863667101
ADP	AUTOMATIC DATA PROCESSING IN	1,338,320 (-7.4%)	$344,256 (-18.8%)	6.3%	$202.77	+30.6%	COM	053015103
GOOGL	ALPHABET INC	1,257,218 (-35.4%)	$393,509 (-16.8%)	7.2%	$114.11	+150.3%	CAP STK CL A	02079K305
IDXX	IDEXX LABS INC	553,859 (-19.5%)	$374,702 (-14.8%)	6.9%	$519.00	+31.2%	COM	45168D104
V	VISA INC	1,079,514 (-13.6%)	$378,596 (-11.3%)	6.9%	$214.40	+58.8%	COM CL A	92826C839
FTNT	FORTINET INC	1,818,233 (-20.2%)	$144,386 (-24.7%)	2.6%	$61.83	+34.1%	COM	34959E109
OTIS	OTIS WORLDWIDE CORP	1,251,513 (-23.9%)	$109,320 (-27.3%)	2.0%	$70.65	+26.3%	COM	68902V107
PG	PROCTER AND GAMBLE CO	1,777,110 (-5.9%)	$254,678 (-12.3%)	4.7%	$140.77	+4.5%	COM	742718109
TXN	TEXAS INSTRS INC	872,579 (-11.5%)	$151,384 (-16.4%)	2.8%	$175.11	-2.5%	COM	882508104
WAT	WATERS CORP	1,146,209 (-15.5%)	$435,365 (+7.1%)	8.0%	$314.45	+17.0%	COM	941848103
MAR	MARRIOTT INTL INC NEW	1,318,251 (-9.9%)	$408,974 (+7.3%)	7.5%	$199.36	+43.1%	CL A	571903202
PM	PHILIP MORRIS INTL INC	2,091,801 (-6.4%)	$335,525 (-7.4%)	6.1%	$83.45	+84.0%	COM	718172109
CHD	CHURCH AND DWIGHT CO INC	2,620,239 (-6.6%)	$219,707 (-10.7%)	4.0%	$95.41	-10.6%	COM	171340102
MTD	METTLER TOLEDO INTERNATIONAL	239,736 (-5.5%)	$334,238 (+7.3%)	6.1%	$1417.73	-1.5%	COM	592688105
NKE	NIKE INC	2,226,357 (-3.8%)	$141,841 (-12.1%)	2.6%	$129.72	-50.0%	CL B	654106103
INTU	INTUIT	176,360 (-6.4%)	$116,824 (-9.3%)	2.1%	$672.92	-1.8%	COM	461202103
HD	HOME DEPOT INC	9,321 (-33.7%)	$3,207 (-43.7%)	0.1%	$302.03	+20.7%	COM	437076102

Unchanged Positions (1)

WM WASTE MGMT INC DEL 0.3%

Value ($000) $15,484 Shares 70,475 Est. Cost $213.41 Unrealized -0.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WM	WASTE MGMT INC DEL	70,475	$15,484	0.3%	$213.41	-0.4%	COM	94106L109