Terry Smith - Fundsmith 13F Activity & Position Changes (Q4 2020)

According to the SEC 13F filed on Feb 12, 2021, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2020. 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 Q4 2020, the filing reported:

New Buys - Church & Dwight Company, Inc., Procter & Gamble Company (The), Taiwan Semiconductor Manufactur, Zoetis Inc.

Increases - Automatic Data Processing, Inc., ANSYS, Inc., A.O. Smith Corporation, Becton, Dickinson and Company, Brown Forman Inc, and 18 more

Reductions - Estee Lauder Companies, Inc. (T, IDEXX Laboratories, Inc., Intuit Inc., Johnson & Johnson, Marriott International, and 6 more

Complete Exits - Check Point

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
Q4 2020	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+167,702	+2.4%	$1.25M	7,087,617
Q4 2020	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+22,070	+6.6%	$129.91K	357,103
Q4 2020	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+1,776	+0.1%	$81.64K	1,489,317
Q4 2020	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+4,443	+0.1%	$1.09M	4,345,415
Q4 2020	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+2,103	+0.0%	$814.62K	10,255,848
Q4 2020	CGNX Cognex Corporation	Cognex Corporation	Buy	+1,898	+0.1%	$128.82K	1,604,491
Q4 2020	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy - Position Entry	+5,631,204	-	$491.21K	5,631,204
Q4 2020	CHKP Check Point	Check Point	Sell - Position Exit	-334,691	-100.0%	$0.00	-
Q4 2020	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy	+4,828	+4.5%	$9.58K	112,079
Q4 2020	EFX Equifax, Inc.	Equifax, Inc.	Buy	+95,979	+16.6%	$129.74K	672,758
Q4 2020	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Sell	-13,606	-0.2%	$1.81M	6,786,727
Q4 2020	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+532,326	+250.6%	$110.62K	744,771
Q4 2020	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-6,387	-0.2%	$2.11M	4,226,428
Q4 2020	INTU Intuit Inc.	Intuit Inc.	Sell	-6,956	-0.2%	$1.74M	4,587,585
Q4 2020	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+890	+0.1%	$140.39K	627,344
Q4 2020	JNJ Johnson & Johnson	Johnson & Johnson	Sell	-19,101	-0.3%	$1.01M	6,392,509
Q4 2020	MAR Marriott International	Marriott International	Sell	-1,632	-0.6%	$36.66K	277,920
Q4 2020	MASI Masimo Corporation	Masimo Corporation	Buy	+357	+0.1%	$115.20K	429,254
Q4 2020	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Sell	-1,500	-5.0%	$47.74K	28,500
Q4 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-8,689	-0.1%	$1.75M	6,418,874
Q4 2020	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+8,591,698	+113.9%	$1.54M	16,133,793
Q4 2020	MSCI MSCI Inc.	MSCI Inc.	Buy	+247	+0.1%	$92.76K	207,737
Q4 2020	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+142,879	+1.2%	$2.69M	12,072,338
Q4 2020	NKE Nike, Inc.	Nike, Inc.	Sell	-18,854	-0.2%	$1.09M	7,733,544
Q4 2020	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Buy	+232	+0.1%	$97.25K	215,026
Q4 2020	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+737,625	+8.3%	$1.43M	9,648,806
Q4 2020	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy - Position Entry	+38,171	-	$5.31K	38,171
Q4 2020	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-35,374	-0.2%	$1.61M	19,467,941
Q4 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-25,570	-0.2%	$2.89M	12,333,741
Q4 2020	QLYS Qualys, Inc.	Qualys, Inc.	Buy	+120,067	+14.8%	$113.80K	933,787

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