Terry Smith - Fundsmith 13F Activity & Position Changes (Q2 2021)

According to the SEC 13F filed on Aug 13, 2021, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Jun 30, 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 Q2 2021, the filing reported:

New Buys - None reported

Increases - ANSYS, Inc., A.O. Smith Corporation, Brown Forman Inc, Cognex Corporation, Church & Dwight Company, Inc., and 29 more

Reductions - Automatic Data Processing, Inc., Becton, Dickinson and Company, Home Depot, Inc. (The), Microsoft Corporation, Philip Morris International 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
Q2 2021	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-16,705	-0.2%	$1.41M	7,096,900
Q2 2021	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+45,670	+12.7%	$140.31K	404,278
Q2 2021	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+9,690	+0.6%	$127.41K	1,768,126
Q2 2021	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Sell	-6,321	-0.1%	$1.05M	4,328,550
Q2 2021	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+1,364,294	+12.1%	$943.94K	12,595,990
Q2 2021	CGNX Cognex Corporation	Cognex Corporation	Buy	+8,879	+0.6%	$136.17K	1,620,130
Q2 2021	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+3,000,761	+48.2%	$786.08K	9,224,122
Q2 2021	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy	+2,102	+1.8%	$9.94K	122,131
Q2 2021	EFX Equifax, Inc.	Equifax, Inc.	Buy	+3,723	+0.6%	$162.70K	679,315
Q2 2021	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+23,440	+0.3%	$2.17M	6,830,510
Q2 2021	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+4,122	+0.6%	$179.13K	752,030
Q2 2021	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Sell	-920	-17.5%	$1.39K	4,345
Q2 2021	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+21,850	+0.5%	$2.68M	4,242,462
Q2 2021	INTU Intuit Inc.	Intuit Inc.	Buy	+5,639	+0.1%	$2.25M	4,582,899
Q2 2021	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+3,471	+0.6%	$133.51K	633,458
Q2 2021	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+514,862	+7.8%	$1.18M	7,155,706
Q2 2021	MAR Marriott International	Marriott International	Buy	+1,251	+0.4%	$40.60K	297,432
Q2 2021	MASI Masimo Corporation	Masimo Corporation	Buy	+2,375	+0.6%	$105.09K	433,438
Q2 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+6,488	+0.1%	$2.24M	6,440,136
Q2 2021	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+584,488	+3.4%	$1.57M	17,804,657
Q2 2021	MSCI MSCI Inc.	MSCI Inc.	Buy	+1,149	+0.6%	$111.82K	209,762
Q2 2021	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-14,272	-0.1%	$3.26M	12,035,021
Q2 2021	NKE Nike, Inc.	Nike, Inc.	Buy	+828,386	+10.4%	$1.35M	8,755,854
Q2 2021	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Buy	+1,190	+0.6%	$78.92K	217,122
Q2 2021	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+54,158	+0.5%	$1.49M	10,087,220
Q2 2021	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+215,641	+255.0%	$40.51K	300,204
Q2 2021	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-34,952	-0.2%	$1.92M	19,353,620
Q2 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-15,280	-0.1%	$3.58M	12,289,470
Q2 2021	QLYS Qualys, Inc.	Qualys, Inc.	Buy	+5,608	+0.5%	$107.40K	1,066,674
Q2 2021	ROL Rollins, Inc.	Rollins, Inc.	Buy	+398,260	+21.6%	$76.63K	2,240,687

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