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

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