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

As of Jun 30, 2024, the Fundsmith Investment Services portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 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