Fundsmith Equity Fund’s 2025 investor letter showed T Class Accumulation shares returning 0.8% compared to the MSCI World Index’s 12.8%. The fund has outperformed the index by 1.7% p.a. since inception, citing underperformance due to index concentration, growth of assets in Index Funds, and dollar weakness.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) featured in Fundsmith Equity Fund’s Q4 2025 letter with a one-month return of 4.56% and a 73.13% gain over 52 weeks. On January 12, 2026, IDXX closed at $724.76 per share with a market cap of $57.98 billion.

Fundsmith Equity Fund praised IDEXX Laboratories, Inc. (NASDAQ:IDXX) for its performance in the veterinary diagnostic equipment sector, noting its resurgence after facing challenges during the decline of the Covid-era pet adoption trend.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) saw 55 hedge fund portfolios holding its stock at the end of Q3 2025, up from 48 in the previous quarter. Revenue increased 13% as reported and 12% organically in Q3 2025. While acknowledging IDXX’s potential, some prefer AI stocks with greater upside potential and less downside risk.

Read more at Yahoo Finance: From a Detractor to a Revivor