WATERS CORP WAT
COM · Common Stock · CUSIP 941848103 · ISIN US9418481035
- SectorTechnology
- IndustryLaboratory Analytical Instruments
- HeadquartersMilford, MA
- Founded1958
- Websitewaters.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($25.6m this quarter). Holder counts are more reliable. Shares outstanding: 59.4m as of 2024-10-25, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $370.40. Options: 8 managers hold calls ($31.8m notional), 11 hold puts ($14.0m).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 646 |
| Q4 2022 | 654 |
| Q1 2023 | 678 |
| Q2 2023 | 648 |
| Q3 2023 | 652 |
| Q4 2023 | 675 |
| Q1 2024 | 690 |
| Q2 2024 | 696 |
| Q3 2024 | 698 |
| Q4 2024 | 761 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 296 | 259 |
| Q2 2023 | 295 | 313 |
| Q3 2023 | 278 | 294 |
| Q4 2023 | 271 | 311 |
| Q1 2024 | 256 | 329 |
| Q2 2024 | 321 | 288 |
| Q3 2024 | 305 | 314 |
| Q4 2024 | 353 | 287 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $48.6m | $51.5m | 1.06 |
| Q2 2024 | $32.6m | $23.1m | 0.71 |
| Q3 2024 | $59.7m | $26.6m | 0.45 |
| Q4 2024 | $31.8m | $14.0m | 0.44 |
Biggest buyers
| BlackRock, Inc. | Added | +586.4k |
| MILLENNIUM MANAGEMENT LLC | Added | +300.4k |
| MARSHALL WACE, LLP | Added | +246.7k |
| ALLIANCEBERNSTEIN L.P. | Added | +212.4k |
| MORGAN STANLEY | Added | +209.9k |
| MACKENZIE FINANCIAL CORP | Added | +203.7k |
| Thrivent Financial for Lutherans | Added | +186.8k |
| NORTHERN TRUST CORP | Added | +99.0k |
| HRT FINANCIAL LP | New | +83.8k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +72.5k |
Biggest sellers
| VAN ECK ASSOCIATES CORP | Reduced | -625.9k |
| JPMORGAN CHASE & CO | Reduced | -443.4k |
| GENERATION INVESTMENT MANAGEMENT LLP | Reduced | -275.8k |
| Champlain Investment Partners, LLC | Reduced | -265.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -195.6k |
| CAMBIAR INVESTORS LLC | Reduced | -135.8k |
| Bank of New York Mellon Corp | Reduced | -135.8k |
| MERCER GLOBAL ADVISORS INC /ADV | Reduced | -132.9k |
| C WorldWide Group Holding A/S | Reduced | -117.3k |
| GUARDCAP ASSET MANAGEMENT Ltd | Reduced | -108.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $25.0m67.4k shares |
| CITADEL ADVISORS LLC | Reduced | $3.0m8.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.6m4.2k shares |
| JANE STREET GROUP, LLC | Reduced | $890.4k2.4k shares |
| Walleye Trading LLC | Reduced | $742.0k2.0k shares |
| Walleye Capital LLC | Added | $519.4k1.4k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $111.3k300 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Twin Tree Management, LP | New | $5.6m15.2k shares |
| CITADEL ADVISORS LLC | Added | $4.6m12.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.5m4.1k shares |
| WOLVERINE TRADING, LLC | Added | $667.7k1.8k shares |
| JANE STREET GROUP, LLC | New | $519.4k1.4k shares |
| Walleye Trading LLC | Reduced | $296.8k800 shares |
| Walleye Capital LLC | Reduced | $259.7k700 shares |
| SIMPLEX TRADING, LLC | Reduced | $259.0k700 shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $111.3k300 shares |
| GUARDIAN CAPITAL LP | New | $98.3k3.4k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution -1.2 pts · filed 2026-04-24 | 7.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
Fell to 5% or below in the last year: Fundsmith LLP (4.4%, 2026-05-15), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), ALLIANCEBERNSTEIN L.P. (3.5%, 2025-11-14)
Insider purchases and sales in Q4 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2023 | 1 | $997.9k | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $1.2m | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $177.8k | — |
| Q2 2024 | 1 | $332.9k | 1 | $1.4m | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 7.1m $2.6bn | Added +19.5k |
| BlackRock, Inc. 0.05% of their portfolio | 6.5m $2.4bn | Added +586.4k |
| Fundsmith LLP 5.75% of their portfolio | 3.6m $1.3bn | Reduced -11.5k |
| ALLIANCEBERNSTEIN L.P. 0.33% of their portfolio | 2.7m $984.6m | Added +212.4k |
| STATE STREET CORP 0.04% of their portfolio | 2.6m $965.3m | Added +24.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.23% of their portfolio | 1.9m $720.9m | Reduced -195.6k |
| Bank of New York Mellon Corp 0.13% of their portfolio | 1.9m $698.1m | Reduced -135.8k |
| GENERATION INVESTMENT MANAGEMENT LLP 2.96% of their portfolio | 1.5m $567.6m | Reduced -275.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 1.5m $537.1m | Added +34.8k |
| FUNDSMITH INVESTMENT SERVICES LTD. 5.91% of their portfolio | 1.2m $454.4m | Reduced -3.4k |
| Invesco Ltd. 0.07% of their portfolio | 975.7k $362.0m | Reduced -35.4k |
| JANUS HENDERSON GROUP PLC 0.17% of their portfolio | 889.3k $329.9m | Added +3.7k |
| AKO CAPITAL LLP 4.18% of their portfolio | 815.4k $302.5m | Added +25.2k |
| GUARDCAP ASSET MANAGEMENT Ltd 4.85% of their portfolio | 808.9k $300.1m | Reduced -108.6k |
| NORGES BANK 0.04% of their portfolio | 766.7k $284.4m | Reduced -63.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.15% of their portfolio | 728.5k $270.3m | Added +72.5k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 724.1k $268.6m | Added +99.0k |
| Impax Asset Management Group plc 1.20% of their portfolio | 714.2k $264.9m | Added +68.5k |
| MORGAN STANLEY 0.02% of their portfolio | 700.8k $260.0m | Added +209.9k |
| LONDON CO OF VIRGINIA 1.25% of their portfolio | 616.4k $228.7m | Reduced -4.4k |
| Findlay Park Partners LLP 1.94% of their portfolio | 525.2k $194.8m | Added +14.0k |
| Mawer Investment Management Ltd. 0.88% of their portfolio | 519.8k $192.8m | Reduced -11.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 502.7k $186.5m | Added +25.5k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 489.1k $181.5m | Reduced -1.6k |
| Champlain Investment Partners, LLC 1.12% of their portfolio | 478.3k $177.4m | Reduced -265.9k |
| Legal & General Group Plc 0.04% of their portfolio | 423.1k $157.0m | Reduced -22.7k |
| Robeco Institutional Asset Management B.V. 0.30% of their portfolio | 421.7k $156.4m | Added +27.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 418.5k $155.2m | Reduced -23.3k |
| Boston Trust Walden Corp 1.09% of their portfolio | 417.6k $154.9m | Reduced -54.4k |
| MACKENZIE FINANCIAL CORP 0.06% of their portfolio | 412.9k $122.7m | Added +203.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 398.5k $147.8m | Added +13.9k |
| FIRST TRUST ADVISORS LP 0.12% of their portfolio | 367.9k $136.5m | Added +28.1k |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 332.6k $123.4m | Reduced -925 |
| MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio | 304.4k $112.9m | Added +300.4k |
| MARSHALL WACE, LLP 0.14% of their portfolio | 303.1k $112.4m | Added +246.7k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 296.4k $110.0m | Added +25.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.11% of their portfolio | 294.9k $109.3m | Reduced -97.6k |
| Madison Asset Management, LLC 1.18% of their portfolio | 282.1k $104.6m | Added +24.2k |
| Amundi 0.04% of their portfolio | 280.4k $104.9m | Reduced -19.5k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 266.9k $99.0m | Added +29.6k |
| Aberdeen Group plc 0.18% of their portfolio | 256.1k $95.0m | Reduced -7.4k |
| BECK MACK & OLIVER LLC 1.69% of their portfolio | 246.3k $91.4m | Reduced -90 |
| TD Asset Management Inc 0.08% of their portfolio | 235.9k $87.5m | Reduced -15.2k |
| Fenimore Asset Management Inc 1.82% of their portfolio | 233.5k $86.6m | Added +713 |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 218.6k $81.1m | Added +8.0k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 217.1k $80.5m | Added +18.3k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 211.7k $78.6m | Added +46.2k |
| Artisan Partners Limited Partnership 0.11% of their portfolio | 194.4k $72.1m | Added +100 |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 193.1k $71.6m | Added +8.7k |
| Thrivent Financial for Lutherans 0.14% of their portfolio | 189.4k $70.3m | Added +186.8k |
| Robeco Schweiz AG 1.47% of their portfolio | 185.1k $68.7m | Reduced -34.7k |
| Newport Trust Company, LLC 0.17% of their portfolio | 184.5k $68.4m | Reduced -5.9k |
| NORDEA INVESTMENT MANAGEMENT AB 0.07% of their portfolio | 177.5k $66.1m | Reduced -27.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 167.9k $62.3m | Reduced -443.4k |
| Swiss National Bank 0.04% of their portfolio | 167.7k $62.2m | Reduced -8.4k |
| Epoch Investment Partners, Inc. 0.29% of their portfolio | 163.9k $60.8m | Reduced -1.8k |
| NATIXIS ADVISORS, LLC 0.11% of their portfolio | 156.6k $58.1m | Added +15.6k |
| UBS Group AG 0.01% of their portfolio | 142.9k $53.0m | Added +35.8k |
| BLI - Banque de Luxembourg Investments 1.38% of their portfolio | 136.6k $50.7m | First filing |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 135.5k $50.3m | Added +1.7k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.04% of their portfolio | 121.1k $44.9m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 120.2k $44.6m | Added +8.1k |
| BARCLAYS PLC 0.02% of their portfolio | 116.9k $43.4m | Reduced -43.1k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 116.2k $43.1m | Reduced -3.4k |
| Woodline Partners LP 0.28% of their portfolio | 112.0k $41.5m | Reduced -46.6k |
| AVIVA PLC 0.11% of their portfolio | 111.9k $41.5m | Reduced -2.1k |
| TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio | 111.3k $41.3m | Added +29.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 109.3k $40.6m | Added +34.2k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 108.9k $40.4m | First filing |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 3.16% of their portfolio | 106.3k $39.4m | Reduced -1.3k |
| California Public Employees Retirement System 0.03% of their portfolio | 102.2k $37.9m | Reduced -3.6k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 101.0k $37.5m | Reduced -3.8k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 98.7k $36.6m | Added +28.2k |
| National Pension Service 0.03% of their portfolio | 97.3k $36.1m | Reduced -10.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 95.9k $35.7m | Added +9.2k |
| Northwest & Ethical Investments L.P. 0.93% of their portfolio | 92.2k $34.2m | Added +9.1k |
| OVERSEA-CHINESE BANKING Corp Ltd 0.96% of their portfolio | 90.9k $33.7m | Added +3.1k |
| FMR LLC 0.00% of their portfolio | 90.5k $33.6m | Added +8.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 89.3k $33.1m | Reduced -5.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio | 84.8k $31.5m | Reduced -429 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 84.1k $31.2m | Added +914 |
| HRT FINANCIAL LP 0.19% of their portfolio | 83.8k $31.1m | New |
| BOSTON FINANCIAL MANGEMENT LLC 0.94% of their portfolio | 83.7k $31.1m | Reduced -451 |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 72.5k $26.9m | Added +4.7k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.07% of their portfolio | 72.1k $26.8m | Added +288 |
| CITIGROUP INC 0.02% of their portfolio | 69.3k $25.7m | Reduced -4.7k |
| PRIMECAP MANAGEMENT CO/CA/ 0.02% of their portfolio | 69.0k $25.6m | Reduced -29.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.05% of their portfolio | 61.9k $22.9m | First filing |
| Smith Group Asset Management, LLC 1.64% of their portfolio | 59.8k $22.2m | New |
| PFM Health Sciences, LP 1.67% of their portfolio | 59.1k $21.9m | Added +8.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 58.2k $21.6m | Reduced -2.9k |
| Ensign Peak Advisors, Inc 0.04% of their portfolio | 57.2k $21.2m | Added +37.2k |
| DekaBank Deutsche Girozentrale 0.04% of their portfolio | 56.6k $20.8m | Unchanged |
| GLENMEDE TRUST CO NA 0.11% of their portfolio | 56.0k $20.8m | Reduced -41.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 55.9k $20.7m | Reduced -1.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 55.5k $20.6m | New |
| APG Asset Management N.V. 0.05% of their portfolio | 54.1k $19.4m | Added +33.0k |
| Man Group plc 0.06% of their portfolio | 52.4k $19.4m | Added +16.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 52.4k $19.4m | Reduced -1.6k |
| HUTCHINSON CAPITAL MANAGEMENT/CA 3.49% of their portfolio | 49.8k $18.5m | Reduced -143 |