Current position

Terry Smith’s Waters Corp (WAT) position

Reported position history, portfolio importance and verified filing changes from public SEC disclosures.

Fundsmith LLPVerified through Q2 2026
Relationship snapshot

At a glance

The full verified relationship, including prior ownership episodes and exits where supported.

First reportedQ3 2013Earliest verified positive filing snapshot
Latest statusCurrent positionBased on the latest supported relationship state
Peak shares5.12MHighest verified quarter-end share count
Quarters reported45Verified quarters with shares above zero
What happened?

Fundsmith LLP first reported Waters Corp in Q3 2013. The reported position was increased and reduced across later filings. Fundsmith LLP currently reports 2.27M shares. The latest verified filing showed: Sold 29.2% of the position.

Verified SEC history

Position over time

See the same verified relationship through reported shares, portfolio weight or reported value.

Metric

Gaps indicate periods that cannot be safely connected or where a verified corporate action changes the raw share scale. Stock price, when available, is market context and not a transaction price.

Key filing events

What changed

Latest filing plus the most meaningful reported changes. Unchanged quarters are collapsed by default.

Q2 2026
Sold 29.2% of the position−938.44K shares · 2.27M shares remained
Filing context

Quarter-end price $375.04 · Estimated holding basis $253.94

Q1 2026
Sold 9.7% of the position−345.90K shares · 3.21M shares remained
Filing context

Quarter-end price $297.80 · Estimated holding basis $253.94

Q4 2025
Sold 10.0% of the position−397.52K shares · 3.56M shares remained
Filing context

Quarter-end price $379.83 · Estimated holding basis $253.94

Q3 2025
Bought 9.6% more+347.09K shares · 3.96M shares reported after the change
Filing context

Quarter-end price $299.81 · Estimated holding basis $253.94

Q2 2025
Sold 0.1% of the position−4.79K shares · 3.61M shares remained
Filing context

Quarter-end price $349.04 · Estimated holding basis $249.52

Q1 2025
Sold 0.6% of the position−21.33K shares · 3.61M shares remained
Filing context

Quarter-end price $368.57 · Estimated holding basis $249.52

1 unchanged quarter is collapsed by default.

Portfolio importance

How important is Waters Corp in Fundsmith LLP’s reported portfolio?

Relative importance is measured only within the verified primary non-option reported portfolio for each quarter.

Current portfolio weight6.2%Q2 2026
Current rank#3of 41 reported positions
Peak portfolio weight7.9%Q4 2025
Best historical rank#1Q4 2025
At peak importanceQ4 2025
WAT
7.9%
Largest holding
7.9%
Cross-investor discovery

Who else owns Waters Corp?

Also reported by 1 other tracked investor in their latest verified filings.

Joel GreenblattGotham Asset Management
WAT0.1% of reported portfolio
Explore Waters Corp across all tracked investors →
SEC evidence & methodology

SEC filing evidence

Market context and filing-derived values are kept separate from actual transaction prices, which 13F filings do not disclose.

Latest verified stock price$421.632026-09-18

Market context only; not an investor transaction price.

Latest filing quarter-end price$375.04Q2 2026

Derived from validated reported value and shares where supported.

Estimated holding basis$253.94Historical reference — not actual purchase price

Calculated from supported filing history.

Latest verified investor filingQ2 2026 · filed 2026-08-14
Open SEC filing ↗

This tracker follows Fundsmith LLP’s reported positions. Form 13F reports quarter-end positions and is filed later; it does not disclose exact trade dates or execution prices.