Terry Smith - Fundsmith Investment Services 13F Activity & Position Changes (Q2 2024)

According to the SEC 13F filed on Aug 14, 2024, the Fundsmith Investment Services portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2024. 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 2024, the filing reported:

New Buys - NVIDIA Corporation

Increases - Automatic Data Processing, Inc., Church & Dwight Company, Inc., First Citizens BancShares, Inc., Fortinet, Inc., Alphabet Inc., and 17 more

Reductions - Apple Inc., Brown Forman Inc, McCormick & Company, Incorporat, Pepsico, Inc.

Complete Exits - None reported

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 2024	AAPL Apple Inc.	Apple Inc.	Sell	-20,146	-3.3%	$125.40M	595,362
Q2 2024	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+145,844	+8.6%	$438.08M	1,835,342
Q2 2024	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-405,351	-10.1%	$155.87M	3,608,905
Q2 2024	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+208,010	+7.7%	$302.53M	2,917,917
Q2 2024	FCNCA First Citizens BancShares, Inc.	First Citizens BancShares, Inc.	Buy	+3,073	+42.1%	$17.46M	10,369
Q2 2024	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+515,829	+25.9%	$151.21M	2,508,795
Q2 2024	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+108,596	+5.7%	$365.00M	2,003,851
Q2 2024	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+2,037	+4.0%	$18.40M	53,464
Q2 2024	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+42,281	+5.2%	$420.53M	863,162
Q2 2024	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+893	+3.9%	$10.37M	23,507
Q2 2024	MAR Marriott International	Marriott International	Buy	+82,463	+6.2%	$343.83M	1,422,132
Q2 2024	MCD McDonald's Corporation	McDonald's Corporation	Buy	+1,297	+3.9%	$8.70M	34,145
Q2 2024	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+90,496	+6.0%	$804.85M	1,596,224
Q2 2024	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-1,050,178	-32.2%	$156.84M	2,210,928
Q2 2024	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+5,465	+0.2%	$1.01B	2,255,346
Q2 2024	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+15,185	+6.2%	$362.37M	259,280
Q2 2024	NKE Nike, Inc.	Nike, Inc.	Buy	+113,579	+5.2%	$174.01M	2,308,745
Q2 2024	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy - Position Entry	+85,880	-	$10.61M	85,880
Q2 2024	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy	+74,985	+4.4%	$170.94M	1,775,827
Q2 2024	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-29,347	-1.6%	$306.13M	1,856,145
Q2 2024	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+155,400	+8.3%	$334.06M	2,025,558
Q2 2024	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+219,811	+5.0%	$468.60M	4,624,517
Q2 2024	SYK Stryker Corporation	Stryker Corporation	Buy	+100,447	+5.6%	$641.15M	1,884,348
Q2 2024	TXN Texas Instruments Incorporated	Texas Instruments Incorporated	Buy	+151,672	+56.1%	$82.06M	421,817
Q2 2024	V Visa Inc.	Visa Inc.	Buy	+111,301	+6.5%	$476.33M	1,814,798
Q2 2024	WAT Waters Corporation	Waters Corporation	Buy	+89,822	+7.9%	$356.16M	1,227,626
Q2 2024	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+3,171	+3.9%	$14.47M	83,453