Terry Smith - Fundsmith 13F Activity & Position Changes (Q2 2022)

As of Jun 30, 2022, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 15, 2022. 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 2022, the filing reported:

New Buys - None reported

Increases - Adobe Inc., Automatic Data Processing, Inc., Amazon.com, Inc., Brown Forman Inc, Cognex Corporation, and 20 more

Reductions - ANSYS, Inc., Equifax, Inc., Intuit Inc., IPG Photonics Corporation, Masimo Corporation, and 9 more

Complete Exits - Starbucks Corporation

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 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+185,651	+9.7%	$771.97K	2,108,848
Q2 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+2,530	+0.0%	$1.17M	5,565,378
Q2 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+6,440,122	+1900.3%	$720.00K	6,779,020
Q2 2022	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell	-86,578	-18.6%	$90.72K	379,135
Q2 2022	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+429,127	+3.6%	$856.87K	12,213,131
Q2 2022	CGNX Cognex Corporation	Cognex Corporation	Buy	+130,057	+6.8%	$86.62K	2,037,105
Q2 2022	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+6,182	+0.1%	$782.45K	8,444,261
Q2 2022	EFX Equifax, Inc.	Equifax, Inc.	Sell	-4,572	-0.9%	$89.58K	490,113
Q2 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+156,426	+2.7%	$1.52M	5,951,296
Q2 2022	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+1,827,077	+395.5%	$129.52K	2,289,070
Q2 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+820	+0.2%	$41.54K	381,252
Q2 2022	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+3,429	+2.3%	$41.55K	151,505
Q2 2022	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+813	+0.0%	$1.27M	3,618,875
Q2 2022	INTU Intuit Inc.	Intuit Inc.	Sell	-635,472	-21.1%	$914.04K	2,371,428
Q2 2022	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Sell	-7,661	-0.9%	$79.57K	845,311
Q2 2022	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+31,019	+12.8%	$48.54K	273,454
Q2 2022	MASI Masimo Corporation	Masimo Corporation	Sell	-4,783	-0.6%	$98.83K	756,313
Q2 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+550	+0.0%	$883.24K	5,477,481
Q2 2022	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+6,217	+0.0%	$1.29M	15,492,883
Q2 2022	MSCI MSCI Inc.	MSCI Inc.	Sell	-1,896	-0.9%	$86.18K	209,104
Q2 2022	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+2,102	+0.0%	$2.57M	10,020,534
Q2 2022	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+127,849	+31.0%	$620.86K	540,452
Q2 2022	NKE Nike, Inc.	Nike, Inc.	Buy	+1,310	+0.0%	$687.58K	6,727,737
Q2 2022	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Sell	-2,341	-0.9%	$71.63K	255,722
Q2 2022	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-670,895	-8.6%	$1.19M	7,137,026
Q2 2022	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+2,288	+0.7%	$44.95K	312,618
Q2 2022	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+21,134	+0.1%	$1.63M	16,478,425
Q2 2022	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-825,019	-7.9%	$674.08K	9,651,818
Q2 2022	QLYS Qualys, Inc.	Qualys, Inc.	Sell	-8,622	-0.9%	$117.34K	930,206
Q2 2022	ROL Rollins, Inc.	Rollins, Inc.	Sell	-402,835	-17.7%	$65.62K	1,879,272

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