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

As of Dec 31, 2020, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 12, 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 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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