Christopher J. Oconnell

WAT

CEO AND PRESIDENT · WATERS CORP /DE/ · CIK 0001379946

FILING MIX · LIFETIME50%/50%

BUYS

SELLS

TOTAL VALUE

$10.11M

COMPANIES

ACTIVE SINCE

Feb 2020

HOLDINGS NOW

57,595

AVG SELL PX

$213.30

Trades · vs SPY

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Performance · forward returns vs SPY

1 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Christopher J. Oconnell, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	1	+100.00%	-0.38%	+2.47%	-2.85%	-2.85%	—
14d	1	+0.00%	+1.06%	+3.17%	-2.11%	-2.11%	—
30d	1	+0.00%	+1.46%	+6.98%	-5.52%	-5.52%	—
60d	1	+100.00%	-9.27%	+2.20%	-11.47%	-11.47%	—
90d	1	+0.00%	+5.83%	+1.47%	+4.36%	+4.36%	—
180d	1	+0.00%	+24.78%	+15.62%	+9.16%	+9.16%	—
1y	1	+0.00%	+82.88%	+36.30%	+46.58%	+46.58%	—
2y	1	+0.00%	+71.50%	+29.50%	+42.00%	+42.00%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

WAT · 57,595 shares · as of Jul 31, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 3 buys / 3 sellsCOVERAGE · 3 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
WAT WATERS CORP /DE/	SALE CEO and President	30,000	—	—	47,826	Jul 31, 2020	Aug 3, 2020 ↗
WAT WATERS CORP /DE/	SALE CEO and President	30,000	$213.30	$6.40M	27,595	Jul 31, 2020	Aug 3, 2020 ↗
WAT WATERS CORP /DE/	PURCHASE CEO and President	30,000	$123.55	$3.71M	57,595	Jul 31, 2020	Aug 3, 2020 ↗
WAT WATERS CORP /DE/	PURCHASEGRANT Stock grant	13,547	—	—	32,863	Mar 2, 2020	Mar 4, 2020 ↗
WAT WATERS CORP /DE/	SALE CEO and President	5,268	—	—	27,595	Mar 2, 2020	Mar 4, 2020 ↗
WAT WATERS CORP /DE/	PURCHASEGRANT Stock grant	44,730	—	—	44,730	Feb 12, 2020	Feb 14, 2020 ↗

Other insiders · WAT

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About this filer

CIK 0001379946

ROLE

CEO and President

PRIMARY

WAT

COMPANIES

ACTIVE SINCE

Feb 2020

MARKETPEEL · /INSIDER/0001379946DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Christopher J. Oconnell

The morning brief, before the bell.