diff --git a/clap_builder/src/parser/parser.rs b/clap_builder/src/parser/parser.rs
index a4e15fef49d..d6d8e8da436 100644
--- a/clap_builder/src/parser/parser.rs
+++ b/clap_builder/src/parser/parser.rs
@@ -302,6 +302,13 @@ impl<'cmd> Parser<'cmd> {
                         .map(|p_name| !p_name.is_last_set())
                         .unwrap_or_default();
 
+                let is_terminated = self
+                    .cmd
+                    .get_keymap()
+                    .get(&pos_counter)
+                    .map(|a| a.get_value_terminator().is_some())
+                    .unwrap_or_default();
+
                 let missing_pos = self.cmd.is_allow_missing_positional_set()
                     && is_second_to_last
                     && !trailing_values;
@@ -309,7 +316,7 @@ impl<'cmd> Parser<'cmd> {
                 debug!("Parser::get_matches_with: Positional counter...{pos_counter}");
                 debug!("Parser::get_matches_with: Low index multiples...{low_index_mults:?}");
 
-                if low_index_mults || missing_pos {
+                if (low_index_mults || missing_pos) && !is_terminated {
                     let skip_current = if let Some(n) = raw_args.peek(&args_cursor) {
                         if let Some(arg) = self
                             .cmd
diff --git a/tests/builder/multiple_values.rs b/tests/builder/multiple_values.rs
index 421d61924ee..57691f177f1 100644
--- a/tests/builder/multiple_values.rs
+++ b/tests/builder/multiple_values.rs
@@ -1375,6 +1375,32 @@ fn multiple_value_terminator_option_other_arg() {
     assert!(*m.get_one::<bool>("flag").expect("defaulted by clap"));
 }
 
+#[test]
+fn all_multiple_value_terminator() {
+    let m = Command::new("lip")
+        .arg(
+            Arg::new("files")
+                .value_terminator(";")
+                .action(ArgAction::Set)
+                .num_args(0..),
+        )
+        .arg(Arg::new("other").num_args(0..))
+        .try_get_matches_from(vec!["test", "value", ";"]);
+
+    assert!(m.is_ok(), "{:?}", m.unwrap_err().kind());
+    let m = m.unwrap();
+
+    assert!(m.contains_id("files"));
+    assert!(!m.contains_id("other"));
+    assert_eq!(
+        m.get_many::<String>("files")
+            .unwrap()
+            .map(|v| v.as_str())
+            .collect::<Vec<_>>(),
+        ["value".to_owned()],
+    );
+}
+
 #[test]
 fn multiple_vals_with_hyphen() {
     let res = Command::new("do")