Terry Smith's ADP Position Overview
Terry Smith (via Fundsmith Llp) currently holds 4.18 M shares of Automatic Data Processing, Inc. (ADP) worth $1.07 B, representing 6.28% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 48 quarters.
Based on 13F filings since 2013, Terry Smith has maintained a long-term strategic position in ADP, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2016, adding 3.88 M shares. Largest reduction occurred in Q3 2016, reducing 3.34 M shares.
Analysis based on 13F filings available since 2013 Q2
Terry Smith's Automatic Data Processing (ADP) Holding Value Over Time
Track share changes against reported price movement
Quarterly Automatic Data Processing (ADP) Trades by Terry Smith
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -133,634 | Reduce 3.10% | 4.18 M | $257.23 |
| Q3 2025 | -50,496 | Reduce 1.16% | 4.31 M | $293.50 |
| Q2 2025 | -151,800 | Reduce 3.36% | 4.36 M | $308.40 |
| Q1 2025 | -499,813 | Reduce 9.97% | 4.51 M | $305.53 |
| Q4 2024 | -558,108 | Reduce 10.02% | 5.01 M | $292.73 |
| Q3 2024 | -13,941 | Reduce 0.25% | 5.57 M | $276.73 |
| Q2 2024 | -180,108 | Reduce 3.12% | 5.59 M | $238.69 |
| Q1 2024 | -50,452 | Reduce 0.87% | 5.77 M | $249.74 |
| Q4 2023 | +295,809 | Add 5.36% | 5.82 M | $232.97 |
| Q3 2023 | -5,856 | Reduce 0.11% | 5.52 M | $240.58 |
| Q2 2023 | -15,598 | Reduce 0.28% | 5.53 M | $219.79 |
| Q1 2023 | +1,246 | Add 0.02% | 5.54 M | $222.63 |
| Q4 2022 | -30,958 | Reduce 0.56% | 5.54 M | $238.86 |
| Q3 2022 | +6,300 | Add 0.11% | 5.57 M | $226.19 |
| Q2 2022 | +2,530 | Add 0.05% | 5.57 M | $210.04 |
| Q1 2022 | -1.53 M | Reduce 21.59% | 5.56 M | $227.54 |
| Q4 2021 | -1,744 | Reduce 0.02% | 7.09 M | $246.58 |
| Q3 2021 | -766 | Reduce 0.01% | 7.1 M | $199.92 |
| Q2 2021 | -16,705 | Reduce 0.23% | 7.1 M | $198.62 |
| Q1 2021 | +25,988 | Add 0.37% | 7.11 M | $188.47 |
| Q4 2020 | +167,702 | Add 2.42% | 7.09 M | $176.20 |
| Q3 2020 | +438,763 | Add 6.77% | 6.92 M | $139.49 |
| Q2 2020 | +206,319 | Add 3.29% | 6.48 M | $148.89 |
| Q1 2020 | -189,365 | Reduce 2.93% | 6.27 M | $136.68 |
| Q4 2019 | -16,287 | Reduce 0.25% | 6.46 M | $170.50 |
| Q3 2019 | +350,732 | Add 5.72% | 6.48 M | $161.42 |
| Q2 2019 | +135,582 | Add 2.26% | 6.13 M | $165.33 |
| Q1 2019 | +66,480 | Add 1.12% | 5.99 M | $159.74 |
| Q4 2018 | +115,156 | Add 1.98% | 5.93 M | $150.66 |
| Q3 2018 | +26,045 | Add 0.45% | 5.81 M | $150.66 |
| Q2 2018 | +8,507 | Add 0.15% | 5.79 M | $134.14 |
| Q1 2018 | +254,791 | Add 4.61% | 5.78 M | $113.48 |
| Q4 2017 | -30,045 | Reduce 0.54% | 5.52 M | $117.19 |
| Q3 2017 | +376,897 | Add 7.28% | 5.55 M | $109.02 |
| Q2 2017 | +1.16 M | Add 29.04% | 5.18 M | $102.46 |
| Q1 2017 | +133,125 | Add 3.43% | 4.01 M | $102.39 |
| Q4 2016 | +3.88 M | New Buy | 3.88 M | $103.46 |
| Q3 2016 | -3.34 M | Sold Out | 0 | $0.00 |
| Q2 2016 | +437,236 | Add 15.08% | 3.34 M | $91.87 |
| Q1 2016 | +435,403 | Add 17.67% | 2.9 M | $89.71 |
| Q4 2015 | +405,573 | Add 19.70% | 2.46 M | $84.72 |
| Q3 2015 | +296,017 | Add 16.79% | 2.06 M | $80.36 |
| Q2 2015 | +1.76 M | New Buy | 1.76 M | $80.23 |
| Q1 2015 | -1.65 M | Sold Out | 0 | $0.00 |
| Q4 2014 | +57,510 | Add 3.61% | 1.65 M | $83.37 |
| Q3 2014 | +1.59 M | New Buy | 1.59 M | $72.88 |
| Q3 2013 | -1.41 M | Sold Out | 0 | $0.00 |
| Q2 2013 | +1.41 M | New Buy | 1.41 M | $68.86 |
Terry Smith's Automatic Data Processing Investment FAQs
Terry Smith first purchased Automatic Data Processing, Inc. (ADP) in Q2 2013, acquiring 1,408,541 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith has held Automatic Data Processing, Inc. (ADP) for 48 quarters since Q2 2013.
Terry Smith's largest addition to Automatic Data Processing, Inc. (ADP) was in Q4 2016, adding 3,878,243 shares worth $401.24 M.
According to the latest 13F filing for Q4 2025, Terry Smith's firm, Fundsmith Llp, owns 4,177,969 shares of Automatic Data Processing, Inc. (ADP), valued at approximately $1.07 B.
As of the Q4 2025 filing, Automatic Data Processing, Inc. (ADP) represents approximately 6.28% of Terry Smith's publicly disclosed stock portfolio, making it one of their key holdings.
Terry Smith's peak holding in Automatic Data Processing, Inc. (ADP) was 7,113,605 shares, as reported at the end of Q1 2021.