Terry Smith's ADP Position Overview
Terry Smith (via Fundsmith Llp) currently holds 4.3M shares of Automatic Data Processing, Inc. (ADP) worth $1.27 B, representing 6.39% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 50 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 Q2 2017, adding 1.2M shares. Largest reduction occurred in Q1 2022, reducing 1.5M 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
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q2 2013 | +1.41 M | New Buy | 1.41 M | $68.86 |
| Q3 2013 | -1.41 M | Sold Out | 1.41 M | $0.00 |
| Q3 2014 | +1.59 M | New Buy | 1.59 M | $72.88 |
| Q4 2014 | +57,510 | Add 3.61% | 1.65 M | $83.37 |
| Q1 2015 | -1.65 M | Sold Out | 1.65 M | $0.00 |
| Q2 2015 | +1.76 M | New Buy | 1.76 M | $80.23 |
| Q3 2015 | +296,017 | Add 16.79% | 2.06 M | $80.36 |
| Q4 2015 | +405,573 | Add 19.70% | 2.46 M | $84.72 |
| Q1 2016 | +435,403 | Add 17.67% | 2.9 M | $89.71 |
| Q2 2016 | +437,236 | Add 15.08% | 3.34 M | $91.87 |
| Q3 2016 | -3.34 M | Sold Out | 3.34 M | $0.00 |
| Q4 2016 | +3.88 M | New Buy | 3.88 M | $103.46 |
| Q1 2017 | +133,125 | Add 3.43% | 4.01 M | $102.39 |
| Q2 2017 | +1.16 M | Add 29.04% | 5.18 M | $102.46 |
| Q3 2017 | +376,897 | Add 7.28% | 5.55 M | $109.02 |
| Q4 2017 | -30,045 | Reduce 0.54% | 5.52 M | $117.19 |
| Q1 2018 | +254,791 | Add 4.61% | 5.78 M | $113.48 |
| Q2 2018 | +8,507 | Add 0.15% | 5.79 M | $134.14 |
| Q3 2018 | +26,045 | Add 0.45% | 5.81 M | $150.66 |
| Q4 2018 | +115,156 | Add 1.98% | 5.93 M | $150.66 |
| Q1 2019 | +66,480 | Add 1.12% | 5.99 M | $159.74 |
| Q2 2019 | +135,582 | Add 2.26% | 6.13 M | $165.33 |
| Q3 2019 | +350,732 | Add 5.72% | 6.48 M | $161.42 |
| Q4 2019 | -16,287 | Reduce 0.25% | 6.46 M | $170.50 |
| Q1 2020 | -189,365 | Reduce 2.93% | 6.27 M | $136.68 |
| Q2 2020 | +206,319 | Add 3.29% | 6.48 M | $148.89 |
| Q3 2020 | +438,763 | Add 6.77% | 6.92 M | $139.49 |
| Q4 2020 | +167,702 | Add 2.42% | 7.09 M | $176.20 |
| Q1 2021 | +25,988 | Add 0.37% | 7.11 M | $188.47 |
| Q2 2021 | -16,705 | Reduce 0.23% | 7.1 M | $198.62 |
| Q3 2021 | -766 | Reduce 0.01% | 7.1 M | $199.92 |
| Q4 2021 | -1,744 | Reduce 0.02% | 7.09 M | $246.58 |
| Q1 2022 | -1.53 M | Reduce 21.59% | 5.56 M | $227.54 |
| Q2 2022 | +2,530 | Add 0.05% | 5.57 M | $210.04 |
| Q3 2022 | +6,300 | Add 0.11% | 5.57 M | $226.19 |
| Q4 2022 | -30,958 | Reduce 0.56% | 5.54 M | $238.86 |
| Q1 2023 | +1,246 | Add 0.02% | 5.54 M | $222.63 |
| Q2 2023 | -15,598 | Reduce 0.28% | 5.53 M | $219.79 |
| Q3 2023 | -5,856 | Reduce 0.11% | 5.52 M | $240.58 |
| Q4 2023 | +295,809 | Add 5.36% | 5.82 M | $232.97 |
| Q1 2024 | -50,452 | Reduce 0.87% | 5.77 M | $249.74 |
| Q2 2024 | -180,108 | Reduce 3.12% | 5.59 M | $238.69 |
| Q3 2024 | -13,941 | Reduce 0.25% | 5.57 M | $276.73 |
| Q4 2024 | -558,108 | Reduce 10.02% | 5.01 M | $292.73 |
| Q1 2025 | -499,813 | Reduce 9.97% | 4.51 M | $305.53 |
| Q2 2025 | -151,800 | Reduce 3.36% | 4.36 M | $308.40 |
| Q3 2025 | -50,496 | Reduce 1.16% | 4.31 M | $293.50 |
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 50 quarters since Q2 2013. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith's largest addition to Automatic Data Processing, Inc. (ADP) was in Q4 2016, adding 3,878,243 shares worth $401.24 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Terry Smith's firm, Fundsmith Llp, owns 4,311,603 shares of Automatic Data Processing, Inc. (ADP), valued at approximately $1.27 B. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, Automatic Data Processing, Inc. (ADP) represents approximately 6.39% of Terry Smith's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Terry Smith's peak holding in Automatic Data Processing, Inc. (ADP) was 7,113,605 shares, as reported at the end of Q1 2021. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.