Terry Smith's position in Waters is currently worth $1.19 Billion. That's 4.73% of their equity portfolio (8th largest holding). The investor owns 6.82% 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 twelve occasions. The stake costed the investor $630 Million, netting the investor a gain of 89% so far.