Terry Smith's position in Waters is currently worth $1.17B. That's 8.17% of their entire equity portfolio (2nd largest holding). The investor owns 4.90% of the outstanding Waters stock. The first Waters trade was made in Q1 2013. Since then Terry Smith bought shares 27 more times and sold shares on twenty occasions. The stake costed the investor $557M, netting the investor a gain of 109% so far.