Terry Smith's position in Waters is currently worth $1.23 Billion. That's 5.00% of their entire equity portfolio (7th largest holding). The investor owns 6.21% of the outstanding Waters stock. The first Waters trade was made in Q1 2013. Since then Terry Smith bought shares 24 more times and sold shares on nine occasions. The stake costed the investor $604 Million, netting the investor a gain of 104% so far.