Terry Smith - Fundsmith 13F Activity & Position Changes (Q1 2019)

As of Mar 31, 2019, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. 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 Q1 2019, the filing reported:

New Buys - None reported

Increases - Automatic Data Processing, Inc., ANSYS, Inc., A.O. Smith Corporation, Becton, Dickinson and Company, Check Point, and 21 more

Reductions - None reported

Complete Exits - Colgate-Palmolive Company

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
Q1 2019	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+131,058	+2.2%	$957.51K	5,994,171
Q1 2019	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+19,485	+7.1%	$53.45K	292,526
Q1 2019	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+73,680	+10.7%	$40.71K	763,583
Q1 2019	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+41,754	+1.1%	$941.77K	3,771,159
Q1 2019	CHKP Check Point	Check Point	Buy	+45,113	+9.4%	$66.30K	524,186
Q1 2019	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Sell - Position Exit	-2,181,181	-100.0%	$0.00	-
Q1 2019	EFX Equifax, Inc.	Equifax, Inc.	Buy	+50,764	+9.6%	$68.55K	578,511
Q1 2019	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+356,142	+5.7%	$1.10M	6,631,703
Q1 2019	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+85,293	+1.9%	$998.90K	4,467,341
Q1 2019	INTU Intuit Inc.	Intuit Inc.	Buy	+93,144	+2.1%	$1.17M	4,481,318
Q1 2019	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+49,492	+29.3%	$33.18K	218,607
Q1 2019	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+25,360	+0.6%	$643.00K	4,599,735
Q1 2019	MAR Marriott International	Marriott International	Buy	+76,608	+74.0%	$22.53K	180,080
Q1 2019	MASI Masimo Corporation	Masimo Corporation	Buy	+11,291	+2.4%	$67.85K	490,663
Q1 2019	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+274,859	+4.5%	$1.06M	6,367,698
Q1 2019	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+2,555,926	+96.5%	$783.97K	5,204,584
Q1 2019	MMM 3M Company	3M Company	Buy	+97,327	+2.8%	$734.87K	3,536,774
Q1 2019	MSCI MSCI Inc.	MSCI Inc.	Buy	+44,673	+31.0%	$37.56K	188,920
Q1 2019	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+239,328	+2.0%	$1.43M	12,140,368
Q1 2019	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+170,356	+2.1%	$1.01M	8,269,554
Q1 2019	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+1,007,253	+8.2%	$1.18M	13,315,376
Q1 2019	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+180,804	+1.2%	$1.59M	15,338,423
Q1 2019	SABR Sabre Corporation	Sabre Corporation	Buy	+704,957	+31.2%	$63.48K	2,967,828
Q1 2019	SYK Stryker Corporation	Stryker Corporation	Buy	+112,516	+2.1%	$1.10M	5,581,841
Q1 2019	V Visa Inc.	Visa Inc.	Buy	+145,137	+2.6%	$904.25K	5,789,403
Q1 2019	VRSK Verisk Analytics, Inc.	Verisk Analytics, Inc.	Buy	+63,244	+14.0%	$68.32K	513,680
Q1 2019	WAT Waters Corporation	Waters Corporation	Buy	+93,430	+1.9%	$1.27M	5,026,757