Terry Smith - Fundsmith 13F Activity & Position Changes (Q4 2022)

According to the SEC 13F filed on Feb 14, 2023, the Fundsmith portfolio showed several notable changes in holdings as of quarter-end Dec 31, 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 2022, the filing reported:

New Buys - None reported

Increases - Apple Inc., Home Depot, Inc. (The), IDEX Corporation, Johnson & Johnson, Procter & Gamble Company (The), and 1 more

Reductions - Adobe Inc., Automatic Data Processing, Inc., Amazon.com, Inc., Brown Forman Inc, Cognex Corporation, and 26 more

Complete Exits - ANSYS, Inc., Genpact, Intuit Inc., MercadoLibre, Inc., PayPal Holdings, Inc., and 2 more

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 2022	AAPL Apple Inc.	Apple Inc.	Buy	+12,749	+2.8%	$60.97M	469,234
Q4 2022	ADBE Adobe Inc.	Adobe Inc.	Sell	-1,971	-0.1%	$709.85M	2,109,326
Q4 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-30,958	-0.6%	$1.32B	5,540,720
Q4 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-6,491	-0.1%	$569.34M	6,777,831
Q4 2022	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell - Position Exit	-274,559	-100.0%	$0.00	-
Q4 2022	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-79,544	-0.7%	$797.80M	12,146,796
Q4 2022	CGNX Cognex Corporation	Cognex Corporation	Sell	-2,295	-0.1%	$97.04M	2,059,788
Q4 2022	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell	-11,453	-0.1%	$680.88M	8,446,572
Q4 2022	EFX Equifax, Inc.	Equifax, Inc.	Sell	-549	-0.1%	$96.27M	495,301
Q4 2022	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Sell	-276,354	-4.6%	$1.41B	5,679,620
Q4 2022	FTNT Fortinet, Inc.	Fortinet, Inc.	Sell	-2,554	-0.1%	$113.10M	2,313,303
Q4 2022	G Genpact	Genpact	Sell - Position Exit	-317,337	-100.0%	$0.00	-
Q4 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-6,515	-0.1%	$672.87M	7,626,313
Q4 2022	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+511	+0.3%	$48.25M	152,766
Q4 2022	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-177,045	-4.9%	$1.40B	3,443,732
Q4 2022	IEX IDEX Corporation	IDEX Corporation	Buy	+167,812	+174.9%	$60.22M	263,740
Q4 2022	INTU Intuit Inc.	Intuit Inc.	Sell - Position Exit	-1,696,667	-100.0%	$0.00	-
Q4 2022	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Sell	-944	-0.1%	$80.87M	854,259
Q4 2022	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+950	+0.3%	$48.72M	275,797
Q4 2022	MASI Masimo Corporation	Masimo Corporation	Sell	-842	-0.1%	$113.08M	764,319
Q4 2022	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Sell - Position Exit	-24,225	-100.0%	$0.00	-
Q4 2022	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-3,419	-0.1%	$659.09M	5,476,865
Q4 2022	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-11,510	-0.1%	$1.28B	15,495,211
Q4 2022	MSCI MSCI Inc.	MSCI Inc.	Sell	-234	-0.1%	$98.30M	211,317
Q4 2022	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-254,578	-2.7%	$2.17B	9,030,036
Q4 2022	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Sell	-556	-0.1%	$810.75M	560,900
Q4 2022	NKE Nike, Inc.	Nike, Inc.	Sell	-8,137	-0.1%	$787.04M	6,726,271
Q4 2022	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Sell	-5,201	-0.1%	$491.84M	6,280,677
Q4 2022	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Sell	-301	-0.2%	$49.96M	161,007
Q4 2022	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-487,193	-6.8%	$1.20B	6,657,120

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