In a notable portfolio adjustment, Terry Smith's Fundsmith reduced its holding in IDEXX Laboratories by 30.42%, selling an estimated $234.74 million worth of shares. According to its latest 13F filing, the fund's position decreased from 1.47 million to 1.02 million shares, with the reported value of the stake falling to $536.91 million.
This trade occurred during the second quarter ending June 30, 2026, and was disclosed in mid-August, reflecting a common delay in such filings. IDEXX is a global leader in veterinary diagnostics and software. The reduction comes amid a broader overhaul of Fundsmith's portfolio in the first half of 2026, where manager Terry Smith has reportedly moved away from his staunch "buy and hold" strategy toward a more active approach to exiting positions.