Terry Smith - Fundsmith 13F Activity & Position Changes (Q3 2022)

According to the SEC 13F filed on Nov 14, 2022, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Sep 30, 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 Q3 2022, the filing reported:

New Buys - Apple Inc., Edwards Lifesciences Corporatio, IDEX Corporation, Otis Worldwide Corporation

Increases - Adobe Inc., Automatic Data Processing, Inc., Amazon.com, Inc., Brown Forman Inc, Cognex Corporation, and 24 more

Reductions - ANSYS, Inc., Intuit Inc., Microsoft Corporation, Paycom Software, Inc., PayPal Holdings, Inc., and 3 more

Complete Exits - Wingstop Inc.

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 2022	AAPL Apple Inc.	Apple Inc.	Buy - Position Entry	+456,485	-	$63.09K	456,485
Q3 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+2,449	+0.1%	$581.03K	2,111,297
Q3 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+6,300	+0.1%	$1.26M	5,571,678
Q3 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+5,302	+0.1%	$766.63K	6,784,322
Q3 2022	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell	-104,576	-27.6%	$60.87K	274,559
Q3 2022	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+13,209	+0.1%	$813.91K	12,226,340
Q3 2022	CGNX Cognex Corporation	Cognex Corporation	Buy	+24,978	+1.2%	$85.47K	2,062,083
Q3 2022	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+13,764	+0.2%	$604.24K	8,458,025
Q3 2022	EFX Equifax, Inc.	Equifax, Inc.	Buy	+5,737	+1.2%	$85.00K	495,850
Q3 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+4,678	+0.1%	$1.29M	5,955,974
Q3 2022	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Buy - Position Entry	+9,979	-	$825.00	9,979
Q3 2022	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+26,787	+1.2%	$113.78K	2,315,857
Q3 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+7,251,576	+1902.0%	$730.08K	7,632,828
Q3 2022	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+750	+0.5%	$42.01K	152,255
Q3 2022	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+1,902	+0.1%	$1.18M	3,620,777
Q3 2022	IEX IDEX Corporation	IDEX Corporation	Buy - Position Entry	+95,928	-	$19.17K	95,928
Q3 2022	INTU Intuit Inc.	Intuit Inc.	Sell	-674,761	-28.5%	$657.15K	1,696,667
Q3 2022	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+9,892	+1.2%	$72.14K	855,203
Q3 2022	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+1,393	+0.5%	$44.90K	274,847
Q3 2022	MASI Masimo Corporation	Masimo Corporation	Buy	+8,848	+1.2%	$108.01K	765,161
Q3 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+2,803	+0.1%	$743.57K	5,480,284
Q3 2022	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+13,838	+0.1%	$1.11M	15,506,721
Q3 2022	MSCI MSCI Inc.	MSCI Inc.	Buy	+2,447	+1.2%	$89.23K	211,551
Q3 2022	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-735,920	-7.3%	$2.16M	9,284,614
Q3 2022	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Buy	+21,004	+3.9%	$608.69K	561,456
Q3 2022	NKE Nike, Inc.	Nike, Inc.	Buy	+6,671	+0.1%	$559.76K	6,734,408
Q3 2022	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Buy - Position Entry	+6,285,878	-	$401.04K	6,285,878
Q3 2022	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Sell	-94,414	-36.9%	$53.23K	161,308
Q3 2022	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+7,287	+0.1%	$1.17M	7,144,313
Q3 2022	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+1,593	+0.5%	$39.67K	314,211

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