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

According to the SEC 13F filed on Aug 14, 2024, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Jun 30, 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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