Terry Smith's position in Waters is currently worth $1.05B. That's 4.61% of their equity portfolio (10th largest holding). The investor owns 5.83% of the outstanding Waters stock. The first Waters trade was made in Q1 2013. Since then Terry Smith bought shares 26 more times and sold shares on eighteen occasions. The stake costed the investor $598M, netting the investor a gain of 75% so far.