In a quarterly 13F filing with the SEC, Olstein Capital Management reported the complete liquidation of its position in Waters Corp (WAT) during the second quarter of 2026. The disclosure, which reflects trades made between March 31 and June 30, 2026, showed the sale of all 10,000 shares held previously. This move comes as Olstein Capital Management's fund business was in the process of being acquired by Easterly Asset Management, with a shareholder vote on the reorganization set for June 26, 2026.
The exit occurred during a period of strong performance for Waters Corp, which saw its revenue grow significantly and beat analyst expectations in the second quarter. The medical instrument supplier has also received positive ratings from analysts, with several upgrading their price targets for the company's stock. Such portfolio changes are not uncommon during corporate reorganizations as the new management aligns holdings with their investment strategy.