Terry Smith - Fundsmith LLP
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    34
Portfolio value:    $12,827,766,987
Holdings Activity Buys Sells    History
Holding/activity history for  Waters Corp. (WAT)
Period Shares % of Portfolio Activity % Change to Portfolio Reported Price Value Filing
2026   Q1 3,212,075 7.46 Reduce 9.72% 0.77 $297.80 $956,555,935 SEC
2025   Q4 3,557,978 7.90 Reduce 10.05% 0.60 $379.83 $1,351,426,784 SEC
2025   Q3 3,955,498 5.99 Add 9.62% 0.53 $299.81 $1,185,897,855 SEC
2025   Q2 3,608,407 5.47 Reduce 0.13% <0.01 $349.04 $1,259,478,379 SEC
2025   Q1 3,613,197 6.06 Reduce 0.59% 0.03 $368.57 $1,331,716,018 SEC
2024   Q4 3,634,522 5.75 Reduce 0.31% 0.02 $370.98 $1,348,334,972 SEC
2024   Q3 3,645,999 5.19 Reduce 0.23% 0.01 $359.89 $1,312,158,580 SEC
2024   Q2 3,654,450 4.32 Reduce 2.97% 0.15 $290.12 $1,060,229,034 SEC
2024   Q1 3,766,251 5.07 Reduce 0.91% 0.05 $344.23 $1,296,456,582 SEC
2023   Q4 3,800,688 5.24 Reduce 0.15% <0.01 $329.23 $1,251,300,510 SEC
2023   Q3 3,806,494 4.74 Reduce 0.08% <0.01 $274.21 $1,043,778,720 SEC
2023   Q2 3,809,473 4.26 Add 3.00% 0.12 $266.54 $1,015,376,933 SEC
2023   Q1 3,698,369 4.94 Add 0.24% 0.01 $309.63 $1,145,125,993 SEC
2022   Q4 3,689,697 5.77 Reduce 0.09% <0.01 $342.58 $1,264,016,398 SEC
2022   Q3 3,693,197 4.73 Add 0.11% <0.01 $269.53 $995,427,000 SEC
2022   Q2 3,689,225 5.39 Add 0.04% <0.01 $330.98 $1,221,060,000 SEC
2022   Q1 3,687,572 3.93 Reduce 18.25% 0.75 $310.39 $1,144,585,000 SEC
2021   Q4 4,510,879 4.10 Reduce 0.01% <0.01 $372.60 $1,680,754,000 SEC
2021   Q3 4,511,194 4.46 Add 2.34% 0.10 $357.30 $1,611,850,000 SEC
2021   Q2 4,408,039 4.22 Add 0.33% 0.01 $345.61 $1,523,462,000 SEC
2021   Q1 4,393,544 3.97 Reduce 0.37% 0.01 $284.17 $1,248,513,000 SEC
2020   Q4 4,409,835 3.62 Add 2.74% 0.10 $247.42 $1,091,081,000 SEC
2020   Q3 4,292,028 3.28 Add 10.23% 0.30 $195.68 $839,864,000 SEC
2020   Q2 3,893,805 3.07 Reduce 18.11% 0.88 $180.40 $702,442,000 SEC
2020   Q1 4,755,050 4.87 Reduce 6.89% 0.39 $182.05 $865,657,000 SEC
2019   Q4 5,106,666 5.64 Reduce 0.32% 0.02 $233.65 $1,193,173,000 SEC
2019   Q3 5,122,867 5.85 Add 0.17% 0.01 $223.23 $1,143,578,000 SEC
2019   Q2 5,114,006 5.74 Add 1.74% 0.10 $215.24 $1,100,739,000 SEC
2019   Q1 5,026,757 7.19 Add 0.87% 0.06 $251.71 $1,265,285,000 SEC
2018   Q4 4,983,259 6.16 Reduce 0.86% 0.06 $194.68 $970,141,000 SEC
2018   Q3 5,026,559 6.56 Add 6.29% 0.39 $194.68 $978,571,000 SEC
2018   Q2 4,728,994 6.81 Add 8.25% 0.52 $193.59 $915,485,000 SEC
2018   Q1 4,368,590 7.15 Add 0.08% <0.01 $198.65 $867,820,000 SEC
2017   Q4 4,365,313 7.23 Add 0.22% 0.02 $193.19 $843,335,000 SEC
2017   Q3 4,355,756 7.54 Add 13.61% 0.90 $178.74 $778,548,000 SEC
2017   Q2 3,833,955 7.39 Add 11.69% 0.77 $183.84 $704,834,000 SEC
2017   Q1 3,432,535 6.23 Add 11.32% 0.63 $156.31 $536,540,000 SEC
2016   Q4 3,083,357 5.46 Add 1.75% 0.09 $134.50 $414,711,000 SEC
2016   Q3 3,030,360 7.94 Add 24.13% 1.54 $158.49 $480,282,000 SEC
2016   Q2 2,441,318 5.64 Add 66.36% 2.25 $140.65 $343,371,000 SEC
2016   Q1 1,467,530 4.17 Add 27.26% 0.89 $131.92 $193,597,000 SEC
2015   Q4 1,153,182 3.90 Add 44.49% 1.20 $134.58 $155,195,000 SEC
2015   Q3 798,099 2.88 Add 156.84% 1.76 $118.21 $94,343,000 SEC
2015   Q2 310,736 1.26 $128.38 $39,892,000 SEC
2015   Q1 310,736 1.44 Buy 1.44 $124.32 $38,631,000 SEC
2013   Q4 0 0.00 Sell 100.00% 3.71 SEC
2013   Q3 449,096 3.71 Reduce 39.67% 2.07 $106.21 $47,698,000 SEC
2013   Q2 744,352 5.23 Add 25.49% 1.06 $100.05 $74,472,000 SEC
2013   Q1 593,152 5.23 Add 30.38% 1.22 $93.15 $55,252,000 SEC
2012   Q4 454,935 6.31 $87.12 $39,634,000 SEC