Terry Smith - Fundsmith 13F Activity & Position Changes (Q4 2023)

As of Dec 31, 2023, the Fundsmith portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 14, 2024. 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 2023, the filing reported:

New Buys - Clorox Company (The)

Increases - Apple Inc., Automatic Data Processing, Inc., Fortinet, Inc., Home Depot, Inc. (The), Johnson & Johnson, and 4 more

Reductions - Brown Forman Inc, Cognex Corporation, Church & Dwight Company, Inc., Equifax, Inc., Exponent, Inc., and 25 more

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 2023	AAPL Apple Inc.	Apple Inc.	Buy	+1,299	+0.1%	$256.95M	1,334,585
Q4 2023	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+295,809	+5.4%	$1.36B	5,816,321
Q4 2023	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-433,465	-3.6%	$665.37M	11,652,706
Q4 2023	CGNX Cognex Corporation	Cognex Corporation	Sell	-26,353	-1.3%	$84.29M	2,019,318
Q4 2023	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell	-10,848	-0.1%	$686.89M	7,264,116
Q4 2023	CLX Clorox Company (The)	Clorox Company (The)	Buy - Position Entry	+603,794	-	$86.09M	603,794
Q4 2023	EFX Equifax, Inc.	Equifax, Inc.	Sell	-6,337	-1.3%	$120.08M	485,569
Q4 2023	EXPO Exponent, Inc.	Exponent, Inc.	Sell	-14,074	-1.3%	$94.95M	1,078,471
Q4 2023	FTNT Fortinet, Inc.	Fortinet, Inc.	Buy	+2,407,603	+48.9%	$429.13M	7,331,844
Q4 2023	GGG Graco Inc.	Graco Inc.	Sell	-15,755	-1.3%	$104.74M	1,207,221
Q4 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-571,317	-7.5%	$980.26M	7,017,411
Q4 2023	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy	+2,161	+1.5%	$51.92M	149,818
Q4 2023	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-235,637	-7.9%	$1.51B	2,728,917
Q4 2023	IEX IDEX Corporation	IDEX Corporation	Sell	-5,011	-1.3%	$83.37M	383,997
Q4 2023	IPGP IPG Photonics Corporation	IPG Photonics Corporation	Sell	-7,164	-1.3%	$59.59M	548,993
Q4 2023	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+4,015	+1.5%	$43.64M	278,393
Q4 2023	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+919	+1.5%	$27.16M	63,677
Q4 2023	MAR Marriott International	Marriott International	Sell	-4,175	-0.1%	$990.33M	4,391,506
Q4 2023	MCD McDonald's Corporation	McDonald's Corporation	Buy	+175	+0.2%	$27.43M	92,495
Q4 2023	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-7,439	-0.1%	$1.77B	4,998,706
Q4 2023	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-222,282	-1.5%	$1.03B	15,090,383
Q4 2023	MSCI MSCI Inc.	MSCI Inc.	Sell	-2,704	-1.3%	$117.18M	207,165
Q4 2023	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-705,498	-8.2%	$2.99B	7,943,324
Q4 2023	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Sell	-927	-0.2%	$688.47M	567,593
Q4 2023	NKE Nike, Inc.	Nike, Inc.	Sell	-16,849	-0.3%	$725.84M	6,685,413
Q4 2023	ODD Oddity Tech	Oddity Tech	Buy	+529,416	+92.1%	$51.39M	1,104,416
Q4 2023	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Sell	-8,760	-0.1%	$576.38M	6,442,153
Q4 2023	PAYC Paycom Software, Inc.	Paycom Software, Inc.	Sell	-2,060	-1.3%	$32.63M	157,844
Q4 2023	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-8,906	-0.1%	$1.13B	6,630,366
Q4 2023	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-6,641	-0.1%	$709.24M	4,839,932

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