Fundsmith LLP — WATERS CORP WAT: Quarterly 13F Position History
Fundsmith LLP has reported WATERS CORP (WAT) on 41 13F-HR filings in Pactolio's tracked window, first appearing in Q1 2016. As of Q1 2026, the position is sized at 3,212,075 shares ($956.6M market value, 7.46% of the equity book). Quarter-over-quarter share count change: 345,903 (-9.7%) .
- 3,212,075Shares Held (Latest Filing)
- $956.6MReported Market Value (Latest Filing)
- 7.46%Portfolio Weight (% of 13F Equity Book)
- 345,903Quarter-over-Quarter Share Change
- -$394.9MQuarter-over-Quarter Value Change
- 5,122,867Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 41 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 3,212,075 | 345,903 | -9.7% | $956.6M | 7.46% | $297.80 |
| Q4 2025 | 3,557,978 | 397,520 | -10.0% | $1.35B | 7.90% | $379.83 |
| Q3 2025 | 3,955,498 | +347,091 | +9.6% | $1.19B | 5.99% | $299.81 |
| Q2 2025 | 3,608,407 | 4,790 | -0.1% | $1.26B | 5.47% | $349.04 |
| Q1 2025 | 3,613,197 | 21,325 | -0.6% | $1.33B | 6.06% | $368.57 |
| Q4 2024 | 3,634,522 | 11,477 | -0.3% | $1.35B | 5.75% | $370.98 |
| Q3 2024 | 3,645,999 | 8,451 | -0.2% | $1.31B | 5.19% | $359.89 |
| Q2 2024 | 3,654,450 | 111,801 | -3.0% | $1.06B | 4.32% | $290.12 |
| Q1 2024 | 3,766,251 | 34,437 | -0.9% | $1.30B | 5.07% | $344.23 |
| Q4 2023 | 3,800,688 | 5,806 | -0.2% | $1.25B | 5.24% | $329.23 |
| Q3 2023 | 3,806,494 | 2,979 | -0.1% | $1.04B | 4.74% | $274.21 |
| Q2 2023 | 3,809,473 | +111,104 | +3.0% | $1.02B | 4.26% | $266.54 |
| Q1 2023 | 3,698,369 | +8,672 | +0.2% | $1.15B | 4.94% | $309.63 |
| Q4 2022 | 3,689,697 | 3,500 | -0.1% | $1.26B | 5.77% | $342.58 |
| Q3 2022 | 3,693,197 | +3,972 | +0.1% | $995.4M | 4.73% | $269.53 |
| Q2 2022 | 3,689,225 | +1,653 | +0.0% | $1.22B | 5.39% | $330.98 |
| Q1 2022 | 3,687,572 | 823,307 | -18.3% | $1.14B | 3.93% | $310.39 |
| Q4 2021 | 4,510,879 | 315 | -0.0% | $1.68B | 4.10% | $372.60 |
| Q3 2021 | 4,511,194 | +103,155 | +2.3% | $1.61B | 4.46% | $357.30 |
| Q2 2021 | 4,408,039 | +14,495 | +0.3% | $1.52B | 4.22% | $345.61 |
| Q1 2021 | 4,393,544 | 16,291 | -0.4% | $1.25B | 3.97% | $284.17 |
| Q4 2020 | 4,409,835 | +117,807 | +2.7% | $1.09B | 3.62% | $247.42 |
| Q3 2020 | 4,292,028 | +398,223 | +10.2% | $839.9M | 3.28% | $195.68 |
| Q2 2020 | 3,893,805 | 861,245 | -18.1% | $702.4M | 3.07% | $180.40 |
| Q1 2020 | 4,755,050 | 351,616 | -6.9% | $865.7M | 4.87% | $182.05 |
| Q4 2019 | 5,106,666 | 16,201 | -0.3% | $1.19B | 5.64% | $233.65 |
| Q3 2019 | 5,122,867 | +8,861 | +0.2% | $1.14B | 5.85% | $223.23 |
| Q2 2019 | 5,114,006 | +87,249 | +1.7% | $1.10B | 5.74% | $215.24 |
| Q1 2019 | 5,026,757 | +93,430 | +1.9% | $1.27B | 7.19% | $251.71 |
| Q4 2018 | 4,933,327 | 93,232 | -1.9% | $960.4M | 6.15% | $194.68 |
| Q3 2018 | 5,026,559 | +297,565 | +6.3% | $978.6M | 6.56% | $194.68 |
| Q2 2018 | 4,728,994 | +360,404 | +8.2% | $915.5M | 6.81% | $193.59 |
| Q1 2018 | 4,368,590 | +3,277 | +0.1% | $867.8M | 7.15% | $198.65 |
| Q4 2017 | 4,365,313 | +9,557 | +0.2% | $843.3M | 7.23% | $193.19 |
| Q3 2017 | 4,355,756 | +521,801 | +13.6% | $778.5M | 7.54% | $178.74 |
| Q2 2017 | 3,833,955 | +401,420 | +11.7% | $704.8M | 7.39% | $183.84 |
| Q1 2017 | 3,432,535 | +349,178 | +11.3% | $536.5M | 6.23% | $156.31 |
| Q4 2016 | 3,083,357 | +52,997 | +1.7% | $414.7M | 5.46% | $134.50 |
| Q3 2016 | 3,030,360 | +589,042 | +24.1% | $480.3M | 6.56% | $158.49 |
| Q2 2016 | 2,441,318 | +973,788 | +66.4% | $343.4M | 5.64% | $140.65 |
| Q1 2016 | 1,467,530 | — | — | $193.6M | 4.17% | $131.92 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Fundsmith LLP first disclose a WAT position in 13F-HR filings?
Fundsmith LLP first reported WATERS CORP (WAT) on its 13F-HR filing for the period ending 2016-03-31 (Q1 2016). The position has appeared on 41 reported quarters within Pactolio's tracked window.
What was Fundsmith LLP's most recent quarter-over-quarter share-count change in WAT?
Between Q4 2025 and Q1 2026, Fundsmith LLP reduced its WAT position by 345,903 shares (-9.7%), leaving 3,212,075 shares at a market value of $956.6M.
Does the implied price-per-share represent Fundsmith LLP's cost basis in WAT?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.