Terry Smith - Fundsmith 13F Activity & Position Changes (Q3 2021)

According to the SEC 13F filed on Nov 12, 2021, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Sep 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 Q3 2021, the filing reported:

New Buys - Amazon.com, Inc., Genpact

Increases - ANSYS, Inc., A.O. Smith Corporation, Brown Forman Inc, Cognex Corporation, Church & Dwight Company, Inc., and 23 more

Reductions - Automatic Data Processing, Inc., Fortinet, Inc., IDEXX Laboratories, Inc., Intuit Inc., Microsoft Corporation, and 2 more

Complete Exits - Becton, Dickinson and Company, Marriott International

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
Q3 2021	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-766	-0.0%	$1.42M	7,096,134
Q3 2021	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy - Position Entry	+367,861	-	$1.21M	367,861
Q3 2021	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+60,374	+14.9%	$158.19K	464,652
Q3 2021	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+6,389	+0.4%	$108.37K	1,774,515
Q3 2021	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Sell - Position Exit	-4,328,550	-100.0%	$0.00	-
Q3 2021	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+1,826,621	+14.5%	$966.46K	14,422,611
Q3 2021	CGNX Cognex Corporation	Cognex Corporation	Buy	+5,857	+0.4%	$130.44K	1,625,987
Q3 2021	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+1,798,374	+19.5%	$910.13K	11,022,496
Q3 2021	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy	+759	+0.6%	$9.29K	122,890
Q3 2021	EFX Equifax, Inc.	Equifax, Inc.	Buy	+2,439	+0.4%	$172.77K	681,754
Q3 2021	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+1,242	+0.0%	$2.05M	6,831,752
Q3 2021	FTNT Fortinet, Inc.	Fortinet, Inc.	Sell	-117,615	-15.6%	$185.28K	634,415
Q3 2021	G Genpact	Genpact	Buy - Position Entry	+305,208	-	$14.50K	305,208
Q3 2021	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+143,994	+3314.0%	$48.69K	148,339
Q3 2021	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-260	-0.0%	$2.64M	4,242,202
Q3 2021	INTU Intuit Inc.	Intuit Inc.	Sell	-360	-0.0%	$2.47M	4,582,539
Q3 2021	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+165,004	+26.0%	$126.48K	798,462
Q3 2021	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+47,863	+0.7%	$1.16M	7,203,569
Q3 2021	MAR Marriott International	Marriott International	Sell - Position Exit	-297,432	-100.0%	$0.00	-
Q3 2021	MASI Masimo Corporation	Masimo Corporation	Buy	+1,572	+0.4%	$117.76K	435,010
Q3 2021	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+908,972	+5.1%	$1.52M	18,713,629
Q3 2021	MSCI MSCI Inc.	MSCI Inc.	Buy	+758	+0.4%	$128.07K	210,520
Q3 2021	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-655	-0.0%	$3.39M	12,034,366
Q3 2021	NKE Nike, Inc.	Nike, Inc.	Buy	+8,885	+0.1%	$1.27M	8,764,739
Q3 2021	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Buy	+784	+0.4%	$108.03K	217,906
Q3 2021	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+5,432	+0.1%	$1.52M	10,092,652
Q3 2021	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+17,977	+6.0%	$44.48K	318,181
Q3 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-650	-0.0%	$3.20M	12,288,820
Q3 2021	QLYS Qualys, Inc.	Qualys, Inc.	Buy	+3,839	+0.4%	$119.14K	1,070,513
Q3 2021	ROL Rollins, Inc.	Rollins, Inc.	Buy	+7,874	+0.4%	$79.44K	2,248,561

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