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

As of Dec 31, 2022, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 14, 2023. 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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