Terry Smith - Fundsmith Investment Services 13F Activity & Position Changes (Q4 2022)

As of Dec 31, 2022, the Fundsmith Investment Services portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 14, 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 Q4 2022, the filing reported:

New Buys - None reported

Increases - Adobe Inc., Automatic Data Processing, Inc., Church & Dwight Company, Inc., Estee Lauder Companies, Inc. (T, Alphabet Inc., and 13 more

Reductions - None reported

Complete Exits - Intuit Inc., PayPal Holdings, 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
Q4 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+9,395	+1.4%	$233.24M	693,071
Q4 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+18,330	+1.3%	$340.48M	1,425,435
Q4 2022	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+49,365	+1.5%	$263.41M	3,267,653
Q4 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+16,312	+1.0%	$405.75M	1,635,363
Q4 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+27,748	+1.4%	$175.04M	1,983,915
Q4 2022	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+13,196	+47.0%	$13.04M	41,294
Q4 2022	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+6,220	+0.6%	$409.63M	1,004,096
Q4 2022	INTU Intuit Inc.	Intuit Inc.	Sell - Position Exit	-757,796	-100.0%	$0.00	-
Q4 2022	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+24,519	+47.0%	$13.55M	76,732
Q4 2022	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+49,680	+1.2%	$337.65M	4,073,461
Q4 2022	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+15,683	+0.6%	$660.70M	2,754,970
Q4 2022	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+2,721	+1.2%	$326.78M	226,076
Q4 2022	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy	+14,681	+0.9%	$127.44M	1,627,368
Q4 2022	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+20,844	+1.0%	$380.80M	2,107,803
Q4 2022	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+28,031	+47.0%	$13.30M	87,722
Q4 2022	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell - Position Exit	-2,439,225	-100.0%	$0.00	-
Q4 2022	SYK Stryker Corporation	Stryker Corporation	Buy	+16,088	+1.0%	$402.31M	1,645,512
Q4 2022	V Visa Inc.	Visa Inc.	Buy	+18,767	+1.3%	$306.40M	1,474,797
Q4 2022	WAT Waters Corporation	Waters Corporation	Buy	+12,421	+1.5%	$286.14M	835,238
Q4 2022	ZTS Zoetis Inc.	Zoetis Inc.	Buy	+19,911	+47.0%	$9.13M	62,309