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

According to the SEC 13F filed on Feb 14, 2022, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Dec 31, 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 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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