Latest Transactions of Terry Smith Q4 2024

Discover Terry Smith's major investment decisions in Q4 2024, including new positions in Medpace and Doximity, and his complete exit from Apple stock. Analysis of the fund manager's latest portfolio strategy and market outlook.

Author

Milan Reichl
April 18th, 2025 • Reading Time: 4 minutes

Terry Smith

Highlights

Biggest Buys

  1. Medpace Holdings Inc. (MEDP) Terry Smith initiated a new position in Medpace Holdings, purchasing 127,537 shares at an average price of $339 per share. Medpace is a leading clinical contract research organization (CRO) that provides full-service clinical development services to the biotechnology, pharmaceutical, and medical device industries. This investment signals Smith's confidence in the growing clinical research sector and Medpace's strong operational model.

  2. Doximity Inc. (DOCS) Smith established a new position in Doximity by acquiring 710,502 shares at an average purchase price of $49 per share. Doximity operates the leading digital platform for medical professionals in the United States, combining elements of professional networking, secure messaging, and telehealth. This significant investment reflects Smith's interest in digital transformation within healthcare and companies with network effects.

Biggest Sells

  1. Apple Inc. (AAPL) In a notable move, Terry Smith completely exited his position in Apple, selling all 1,558,589 shares at an average price of $235 per share. Apple, the world's largest technology company by market capitalization, has been a staple in many investment portfolios. Smith's complete divestiture might indicate concerns about Apple's growth prospects, valuation, or shifting competitive landscape.

  2. Visa Inc. (V) Smith reduced his position in Visa by 16.66%, selling 924,264 shares at an average price of $300 per share. Visa is a global payments technology company facilitating electronic funds transfers worldwide. Despite the reduction, Visa likely remains a significant holding in Smith's portfolio, suggesting this may be a tactical adjustment rather than a fundamental change in outlook.

These transactions highlight Terry Smith's strategic portfolio realignment in Q4 2024, with increased investments in specialized healthcare technology and a reduction in consumer technology and payment processing exposure. The moves reflect Smith's characteristic focus on high-quality businesses with sustainable competitive advantages, albeit with a shifting emphasis toward emerging digital healthcare platforms.

All Transactions

Stock

Activity

#Shares

Average Price*

MEDP - Medpace Holdings Inc.

Buy

127,537

~ $339

DOCS - Doximity Inc.

Buy

710,502

~ $49

IDXX - IDEXX Laboratories

Sell 0.05%

1,307

~ $439

SYK - Stryker Corp.

Sell 0.05%

2,844

~ $369

GOOGL - Alphabet Inc.

Sell 0.06%

3,809

~ $189

MTD - Mettler-Toledo International Inc.

Sell 0.08%

464

~ $1,306

PG - Procter & Gamble

Sell 0.15%

6,846

~ $169

MAR - Marriott Int'l.

Sell 0.27%

11,315

~ $278

WAT - Waters Corp.

Sell 0.31%

11,477

~ $371

CHD - Church & Dwight

Sell 0.37%

25,654

~ $105

PEP - PepsiCo Inc.

Sell 1.33%

76,311

~ $161

HD - Home Depot

Sell 1.47%

2,176

~ $404

MA - Mastercard Inc.

Sell 1.47%

957

~ $516

ZTS - Zoetis Inc.

Sell 1.47%

3,397

~ $178

NKE - NIKE Inc.

Sell 2.60%

163,864

~ $78

OTIS - Otis Worldwide Corp.

Sell 2.84%

174,451

~ $100

BF.B - Brown-Forman Corp.

Sell 3.72%

372,626

~ $0.24

META - Meta Platforms Inc.

Sell 6.36%

310,012

~ $586

PM - Philip Morris Intl.

Sell 6.39%

767,484

~ $124

ADP - Automatic Data Processing Inc.

Sell 10.02%

558,108

~ $292

MSFT - Microsoft Corp.

Sell 10.34%

713,242

~ $424

FTNT - Fortinet Inc.

Sell 15.69%

1,587,870

~ $89

V - Visa Inc.

Sell 16.66%

924,264

~ $300

AAPL - Apple Inc.

Sell 100.00%

1,558,589

~ $235

MKC - McCormick & Co.

Sell 100.00%

1,728,157

~ $78

CGNX - Cognex Corp.

Sell 100.00%

1,906,276

~ $39

MCD - McDonald's Corp.

Sell 100.00%

94,403

~ $295

*Average Share Price in Q4 2024

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The information is provided for educational purposes only and does not constitute financial advice or recommendation and should not be considered as such. Do your own research.