Terry Smith - Fundsmith Investment Services 13F Activity & Position Changes (Q2 2023)

According to the SEC 13F filed on Aug 14, 2023, the Fundsmith Investment Services portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2023. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2023, the filing reported:

New Buys - First Citizens BancShares, Inc., Fortinet, Inc.

Increases - Apple Inc., Automatic Data Processing, Inc., Estee Lauder Companies, Inc. (T, Alphabet Inc., Home Depot, Inc. (The), and 15 more

Reductions - Church & Dwight Company, Inc.

Complete Exits - Amazon.com, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2023	AAPL Apple Inc.	Apple Inc.	Buy	+28,170	+6.1%	$95.28M	491,211
Q2 2023	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+32,979	+2.1%	$352.23M	1,602,596
Q2 2023	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell - Position Exit	-1,797,640	-100.0%	$0.00	-
Q2 2023	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell	-655,848	-20.1%	$262.04M	2,614,377
Q2 2023	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+1,624	+0.1%	$321.64M	1,637,837
Q2 2023	FCNCA First Citizens BancShares, Inc.	First Citizens BancShares, Inc.	Buy - Position Entry	+5,015	-	$6.44M	5,015
Q2 2023	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy - Position Entry	+86,860	-	$6.57M	86,860
Q2 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+2,761	+0.1%	$237.98M	1,988,123
Q2 2023	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+1,313	+3.1%	$13.45M	43,294
Q2 2023	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+15,108	+1.5%	$512.04M	1,019,528
Q2 2023	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+2,440	+3.1%	$13.32M	80,450
Q2 2023	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+6,653	+56.6%	$7.24M	18,401
Q2 2023	MAR Marriott International	Marriott International	Buy	+27,515	+98.2%	$10.20M	55,536
Q2 2023	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+21,689	+1.5%	$432.11M	1,505,728
Q2 2023	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+4,944	+0.1%	$355.99M	4,080,994
Q2 2023	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+17,618	+0.6%	$944.46M	2,773,405
Q2 2023	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+4,821	+2.1%	$303.04M	231,039
Q2 2023	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy	+55,216	+3.4%	$149.83M	1,683,349
Q2 2023	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+2,074	+0.1%	$390.99M	2,110,963
Q2 2023	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+1,276,065	+222.7%	$280.58M	1,849,104
Q2 2023	SYK Stryker Corporation	Stryker Corporation	Buy	+109,445	+6.6%	$535.68M	1,755,795
Q2 2023	V Visa Inc.	Visa Inc.	Buy	+220,790	+15.0%	$402.90M	1,696,565
Q2 2023	WAT Waters Corporation	Waters Corporation	Buy	+116,798	+12.8%	$273.52M	1,026,205
Q2 2023	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+1,981	+3.1%	$11.25M	65,328