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

As of Mar 31, 2021, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 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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