Fundsmith LLP: AUTOMATIC DATA PROCESSING IN (ADP): Quarterly 13F Position History
As of Q1 2026, Fundsmith LLP reported 3,855,105 shares of AUTOMATIC DATA PROCESSING IN (ADP), worth $783.3M and representing 6.1% of its 13F equity book. Quarter-over-quarter share count change: 322,864 (-7.7%) . The position first appeared in Q1 2016 and has been disclosed across 41 13F-HR filings in Pactolio's tracked window.
- 3,855,105Shares Held (Latest Filing)
- $783.3MReported Market Value (Latest Filing)
- 6.1%Portfolio Weight (% of 13F Equity Book)
- 322,864Quarter-over-Quarter Share Change
- -$291.4MQuarter-over-Quarter Value Change
- 7,113,605Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 41 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 3,855,105 | 322,864 | -7.7% | $783.3M | 6.1% | $203.2 |
| Q4 2025 | 4,177,969 | 133,634 | -3.1% | $1.1B | 6.3% | $257.2 |
| Q3 2025 | 4,311,603 | 50,496 | -1.2% | $1.3B | 6.4% | $293.5 |
| Q2 2025 | 4,362,099 | 151,800 | -3.4% | $1.3B | 5.8% | $308.4 |
| Q1 2025 | 4,513,899 | 499,813 | -10.0% | $1.4B | 6.3% | $305.5 |
| Q4 2024 | 5,013,712 | 558,108 | -10.0% | $1.5B | 6.3% | $292.7 |
| Q3 2024 | 5,571,820 | 13,941 | -0.2% | $1.5B | 6.1% | $276.7 |
| Q2 2024 | 5,585,761 | 180,108 | -3.1% | $1.3B | 5.4% | $238.7 |
| Q1 2024 | 5,765,869 | 50,452 | -0.9% | $1.4B | 5.6% | $249.7 |
| Q4 2023 | 5,816,321 | +295,809 | +5.4% | $1.4B | 5.7% | $233.0 |
| Q3 2023 | 5,520,512 | 5,856 | -0.1% | $1.3B | 6.0% | $240.6 |
| Q2 2023 | 5,526,368 | 15,598 | -0.3% | $1.2B | 5.1% | $219.8 |
| Q1 2023 | 5,541,966 | +1,246 | +0.0% | $1.2B | 5.3% | $222.6 |
| Q4 2022 | 5,540,720 | 30,958 | -0.6% | $1.3B | 6.0% | $238.9 |
| Q3 2022 | 5,571,678 | +6,300 | +0.1% | $1.3B | 6.0% | $226.2 |
| Q2 2022 | 5,565,378 | +2,530 | +0.0% | $1.2B | 5.2% | $210.0 |
| Q1 2022 | 5,562,848 | 1,531,542 | -21.6% | $1.3B | 4.3% | $227.5 |
| Q4 2021 | 7,094,390 | 1,744 | -0.0% | $1.7B | 4.3% | $246.6 |
| Q3 2021 | 7,096,134 | 766 | -0.0% | $1.4B | 3.9% | $199.9 |
| Q2 2021 | 7,096,900 | 16,705 | -0.2% | $1.4B | 3.9% | $198.6 |
| Q1 2021 | 7,113,605 | +25,988 | +0.4% | $1.3B | 4.3% | $188.5 |
| Q4 2020 | 7,087,617 | +167,702 | +2.4% | $1.2B | 4.1% | $176.2 |
| Q3 2020 | 6,919,915 | +438,763 | +6.8% | $965.3M | 3.8% | $139.5 |
| Q2 2020 | 6,481,152 | +206,319 | +3.3% | $965.0M | 4.2% | $148.9 |
| Q1 2020 | 6,274,833 | 189,365 | -2.9% | $857.6M | 4.8% | $136.7 |
| Q4 2019 | 6,464,198 | 16,287 | -0.3% | $1.1B | 5.2% | $170.5 |
| Q3 2019 | 6,480,485 | +350,732 | +5.7% | $1.0B | 5.3% | $161.4 |
| Q2 2019 | 6,129,753 | +135,582 | +2.3% | $1.0B | 5.3% | $165.3 |
| Q1 2019 | 5,994,171 | +131,058 | +2.2% | $957.5M | 5.4% | $159.7 |
| Q4 2018 | 5,863,113 | +50,578 | +0.9% | $883.3M | 5.7% | $150.7 |
| Q3 2018 | 5,812,535 | +26,045 | +0.5% | $875.7M | 5.9% | $150.7 |
| Q2 2018 | 5,786,490 | +8,507 | +0.1% | $776.2M | 5.8% | $134.1 |
| Q1 2018 | 5,777,983 | +254,791 | +4.6% | $655.7M | 5.4% | $113.5 |
| Q4 2017 | 5,523,192 | 30,045 | -0.5% | $647.3M | 5.5% | $117.2 |
| Q3 2017 | 5,553,237 | +376,897 | +7.3% | $605.4M | 5.9% | $109.0 |
| Q2 2017 | 5,176,340 | +1,164,972 | +29.0% | $530.4M | 5.6% | $102.5 |
| Q1 2017 | 4,011,368 | +133,125 | +3.4% | $410.7M | 4.8% | $102.4 |
| Q4 2016 | 3,878,243 | +3,878,243 | — | $401.2M | 5.3% | $103.5 |
| Q3 2016 | 0 | 3,336,791 | -100.0% | $0 | 0.0% | — |
| Q2 2016 | 3,336,791 | +437,236 | +15.1% | $306.6M | 5.0% | $91.9 |
| Q1 2016 | 2,899,555 | — | — | $260.1M | 5.6% | $89.7 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Fundsmith LLP first disclose a ADP position in 13F-HR filings?
Fundsmith LLP first reported AUTOMATIC DATA PROCESSING IN (ADP) on its 13F-HR filing for the period ending 2016-03-31 (Q1 2016). The position has appeared on 41 reported quarters within Pactolio's tracked window.
What was Fundsmith LLP's most recent quarter-over-quarter share-count change in ADP?
Between Q4 2025 and Q1 2026, Fundsmith LLP reduced its ADP position by 322,864 shares (-7.7%), leaving 3,855,105 shares at a market value of $783.3M.
Does the implied price-per-share represent Fundsmith LLP's cost basis in ADP?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.