Terry Smith - Fundsmith Investment Services 13F Activity & Position Changes (Q3 2024)

According to the SEC 13F filed on Nov 14, 2024, the Fundsmith Investment Services portfolio showed several notable changes in holdings as of quarter-end Sep 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 Q3 2024, the filing reported:

New Buys - None reported

Increases - Apple Inc., Church & Dwight Company, Inc., Fortinet, Inc., Alphabet Inc., Home Depot, Inc. (The), and 12 more

Reductions - Automatic Data Processing, Inc., Brown Forman Inc, McCormick & Company, Incorporat, Microsoft Corporation, Pepsico, Inc., and 1 more

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
Q3 2024	AAPL Apple Inc.	Apple Inc.	Buy	+5,536	+0.9%	$140.01M	600,898
Q3 2024	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-645	-0.0%	$507.72M	1,834,697
Q3 2024	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-709,790	-19.7%	$142.64M	2,899,115
Q3 2024	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+2,319	+0.1%	$305.81M	2,920,236
Q3 2024	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+40,839	+1.6%	$197.72M	2,549,634
Q3 2024	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+5,378	+0.3%	$333.23M	2,009,229
Q3 2024	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+3,073	+5.7%	$22.91M	56,537
Q3 2024	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+1,846	+0.2%	$437.02M	865,008
Q3 2024	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+1,351	+5.7%	$12.27M	24,858
Q3 2024	MAR Marriott International	Marriott International	Buy	+4,078	+0.3%	$354.56M	1,426,210
Q3 2024	MCD McDonald's Corporation	McDonald's Corporation	Buy	+1,963	+5.7%	$11.00M	36,108
Q3 2024	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-2,125,681	-96.1%	$7.02M	85,247
Q3 2024	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-62,195	-2.8%	$943.71M	2,193,151
Q3 2024	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+655	+0.3%	$389.82M	259,935
Q3 2024	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy	+5,611	+0.3%	$185.16M	1,781,438
Q3 2024	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-7,739	-0.4%	$314.32M	1,848,406
Q3 2024	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+29,372	+1.5%	$355.91M	2,054,930
Q3 2024	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-804,712	-17.4%	$463.72M	3,819,805
Q3 2024	SYK Stryker Corporation	Stryker Corporation	Buy	+4,468	+0.2%	$682.35M	1,888,816
Q3 2024	TXN Texas Instruments Incorporated	Texas Instruments Incorporated	Buy	+64,061	+15.2%	$100.37M	485,878
Q3 2024	V Visa Inc.	Visa Inc.	Buy	+3,794	+0.2%	$500.02M	1,818,592
Q3 2024	WAT Waters Corporation	Waters Corporation	Buy	+741	+0.1%	$442.08M	1,228,367
Q3 2024	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+4,797	+5.7%	$17.24M	88,250