Terry Smith - Fundsmith 13F Activity & Position Changes (Q4 2021)

As of Dec 31, 2021, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 14, 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 Q4 2021, the filing reported:

New Buys - Alphabet Inc.

Increases - Amazon.com, Inc., ANSYS, Inc., A.O. Smith Corporation, Brown Forman Inc, Cognex Corporation, and 31 more

Reductions - Automatic Data Processing, Inc., Intuit Inc., Nike, Inc., Waters Corporation

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
Q4 2021	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-1,744	-0.0%	$1.75M	7,094,390
Q4 2021	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+57,565	+15.6%	$1.42M	425,426
Q4 2021	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+998	+0.2%	$186.78K	465,650
Q4 2021	AOS A.O. Smith Corporation	A.O. Smith Corporation	Buy	+3,804	+0.2%	$152.67K	1,778,319
Q4 2021	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+1,030,683	+7.1%	$1.13M	15,453,294
Q4 2021	CGNX Cognex Corporation	Cognex Corporation	Buy	+186,106	+11.4%	$140.91K	1,812,093
Q4 2021	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Buy	+635,823	+5.8%	$1.19M	11,658,319
Q4 2021	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy	+5,890	+4.8%	$10.99K	128,780
Q4 2021	EFX Equifax, Inc.	Equifax, Inc.	Buy	+1,477	+0.2%	$200.04K	683,231
Q4 2021	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+333,409	+4.9%	$2.65M	7,165,161
Q4 2021	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+1,360	+0.2%	$228.50K	635,775
Q4 2021	G Genpact	Genpact	Buy	+12,129	+4.0%	$16.84K	317,337
Q4 2021	GOOGL Alphabet Inc.	Alphabet Inc.	Buy - Position Entry	+419,096	-	$1.21M	419,096
Q4 2021	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+11,304	+7.6%	$66.25K	159,643
Q4 2021	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Buy	+81	+0.0%	$2.79M	4,242,283
Q4 2021	INTU Intuit Inc.	Intuit Inc.	Sell	-849,662	-18.5%	$2.40M	3,732,877
Q4 2021	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Buy	+54,510	+6.8%	$146.83K	852,972
Q4 2021	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+15,629	+0.2%	$1.23M	7,219,198
Q4 2021	MASI Masimo Corporation	Masimo Corporation	Buy	+927	+0.2%	$127.63K	435,937
Q4 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+360,125	+5.6%	$2.29M	6,800,261
Q4 2021	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Buy	+197,289	+1.1%	$1.83M	18,910,918
Q4 2021	MSCI MSCI Inc.	MSCI Inc.	Buy	+451	+0.2%	$129.26K	210,971
Q4 2021	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+968,000	+8.0%	$4.37M	13,002,366
Q4 2021	NKE Nike, Inc.	Nike, Inc.	Sell	-10,757	-0.1%	$1.46M	8,753,982
Q4 2021	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Buy	+468	+0.2%	$90.67K	218,374
Q4 2021	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+325,550	+3.2%	$1.81M	10,418,202
Q4 2021	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Buy	+52,948	+16.6%	$60.71K	371,129
Q4 2021	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+1,069,807	+5.5%	$1.94M	20,423,427
Q4 2021	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+730,632	+5.9%	$2.46M	13,019,452
Q4 2021	QLYS Qualys, Inc.	Qualys, Inc.	Buy	+2,310	+0.2%	$147.21K	1,072,823

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