Terry Smith - Fundsmith 13F Activity & Position Changes (Q1 2021)

According to the SEC 13F filed on May 14, 2021, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2021. 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 2021, the filing reported:

New Buys - Home Depot, Inc. (The), Rollins, Inc., Wingstop Inc.

Increases - Automatic Data Processing, Inc., ANSYS, Inc., A.O. Smith Corporation, Brown Forman Inc, Cognex Corporation, and 24 more

Reductions - Becton, Dickinson and Company, IDEXX Laboratories, Inc., Intuit Inc., MercadoLibre, Inc., Microsoft Corporation, and 3 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
Q1 2021	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+25,988	+0.4%	$1.34M	7,113,605
Q1 2021	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+1,505	+0.4%	$121.77K	358,608
Q1 2021	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+269,119	+18.1%	$118.89K	1,758,436
Q1 2021	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Sell	-10,544	-0.2%	$1.05M	4,334,871
Q1 2021	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+975,848	+9.5%	$774.65K	11,231,696
Q1 2021	CGNX Cognex Corporation	Cognex Corporation	Buy	+6,760	+0.4%	$133.72K	1,611,251
Q1 2021	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+592,157	+10.5%	$543.61K	6,223,361
Q1 2021	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy	+7,950	+7.1%	$9.46K	120,029
Q1 2021	EFX Equifax, Inc.	Equifax, Inc.	Buy	+2,834	+0.4%	$122.37K	675,592
Q1 2021	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+20,343	+0.3%	$1.98M	6,807,070
Q1 2021	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+3,137	+0.4%	$137.93K	747,908
Q1 2021	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy - Position Entry	+5,265	-	$1.61K	5,265
Q1 2021	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-5,816	-0.1%	$2.07M	4,220,612
Q1 2021	INTU Intuit Inc.	Intuit Inc.	Sell	-10,325	-0.2%	$1.75M	4,577,260
Q1 2021	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+2,643	+0.4%	$132.89K	629,987
Q1 2021	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+248,335	+3.9%	$1.09M	6,640,844
Q1 2021	MAR Marriott International	Marriott International	Buy	+18,261	+6.6%	$43.87K	296,181
Q1 2021	MASI Masimo Corporation	Masimo Corporation	Buy	+1,809	+0.4%	$99.00K	431,063
Q1 2021	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Sell	-4,275	-15.0%	$35.66K	24,225
Q1 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+14,774	+0.2%	$1.89M	6,433,648
Q1 2021	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+1,086,376	+6.7%	$1.54M	17,220,169
Q1 2021	MSCI MSCI Inc.	MSCI Inc.	Buy	+876	+0.4%	$87.47K	208,613
Q1 2021	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-23,045	-0.2%	$2.84M	12,049,293
Q1 2021	NKE Nike, Inc.	Nike, Inc.	Buy	+193,924	+2.5%	$1.05M	7,927,468
Q1 2021	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Buy	+906	+0.4%	$79.91K	215,932
Q1 2021	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+384,256	+4.0%	$1.42M	10,033,062
Q1 2021	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+46,392	+121.5%	$11.45K	84,563
Q1 2021	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-79,369	-0.4%	$1.72M	19,388,572
Q1 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-28,991	-0.2%	$2.99M	12,304,750
Q1 2021	QLYS Qualys, Inc.	Qualys, Inc.	Buy	+127,279	+13.6%	$111.18K	1,061,066

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