Terry Smith - Fundsmith 13F Activity & Position Changes (Q2 2024)

As of Jun 30, 2024, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2024. 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 2024, the filing reported:

New Buys - None reported

Increases - Fortinet, Inc., Oddity Tech, Texas Instruments Incorporated

Reductions - Apple Inc., Automatic Data Processing, Inc., Brown Forman Inc, Cognex Corporation, Church & Dwight Company, Inc., and 32 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 2024	AAPL Apple Inc.	Apple Inc.	Sell	-38,955	-2.4%	$328.27M	1,558,589
Q2 2024	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-180,108	-3.1%	$1.33B	5,585,761
Q2 2024	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-320,029	-2.8%	$481.08M	11,138,751
Q2 2024	CGNX Cognex Corporation	Cognex Corporation	Sell	-59,959	-3.0%	$89.14M	1,906,276
Q2 2024	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell	-257,074	-3.6%	$716.88M	6,914,366
Q2 2024	CHH Choice Hotels International, In	Choice Hotels International, In	Sell	-23,052	-3.0%	$87.33M	733,892
Q2 2024	CLX Clorox Company (The)	Clorox Company (The)	Sell	-17,935	-3.0%	$77.82M	570,206
Q2 2024	EFX Equifax, Inc.	Equifax, Inc.	Sell	-14,418	-3.0%	$111.14M	458,387
Q2 2024	EXPO Exponent, Inc.	Exponent, Inc.	Sell	-32,022	-3.0%	$96.84M	1,018,098
Q2 2024	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+2,110,679	+25.8%	$619.92M	10,285,664
Q2 2024	GGG Graco Inc.	Graco Inc.	Sell	-35,845	-3.0%	$90.35M	1,139,641
Q2 2024	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-131,733	-1.9%	$1.25B	6,849,259
Q2 2024	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Sell	-384	-0.3%	$50.33M	146,200
Q2 2024	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-51,570	-1.9%	$1.30B	2,663,192
Q2 2024	IEX IDEX Corporation	IDEX Corporation	Sell	-11,401	-3.0%	$72.94M	362,501
Q2 2024	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-169	-0.3%	$28.36M	64,280
Q2 2024	MAR Marriott International	Marriott International	Sell	-99,787	-2.3%	$1.03B	4,264,511
Q2 2024	MCD McDonald's Corporation	McDonald's Corporation	Sell	-246	-0.3%	$23.79M	93,371
Q2 2024	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-98,185	-2.0%	$2.46B	4,871,364
Q2 2024	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-2,181,066	-17.8%	$712.84M	10,048,497
Q2 2024	MSCI MSCI Inc.	MSCI Inc.	Sell	-5,240	-3.0%	$80.27M	166,619
Q2 2024	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-477,288	-6.3%	$3.19B	7,140,615
Q2 2024	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Sell	-18,521	-3.0%	$826.78M	591,575
Q2 2024	NKE Nike, Inc.	Nike, Inc.	Sell	-212,924	-3.3%	$474.79M	6,299,493
Q2 2024	ODD Oddity Tech	Oddity Tech	Buy	+287,845	+21.7%	$63.41M	1,615,158
Q2 2024	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Sell	-156,825	-2.5%	$590.87M	6,138,278
Q2 2024	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Sell	-2,660	-0.8%	$46.15M	322,611
Q2 2024	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-84,860	-1.5%	$950.18M	5,761,087
Q2 2024	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-151,864	-3.2%	$766.42M	4,647,218
Q2 2024	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-347,792	-2.3%	$1.47B	14,474,445

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