The fund sold 515,078 shares of the water utility, reducing its position to $22.98 million amid underperformance versus the S&P 500.
Nuance Investments reduced its holding in H2O America (NASDAQ:HTO) by 515,078 shares in the first quarter, a $28.04 million transaction based on the quarterly average price. The move trimmed the position’s quarter-end value by $21.44 million, reflecting both the sale and share price changes.
H2O America shares rose 8.4% over the past year but lagged the S&P 500 by 22 percentage points. The stock closed at $57.16 on May 7, 2026. Following the sale, the remaining 391,646 shares represent 3.2% of Nuance’s reportable assets, outside its top five holdings.
Nuance’s largest positions after the filing include CWT ($72.71 million), MRTN ($63.16 million), and QGEN ($52.86 million). The fund’s portfolio adjustments were disclosed in an SEC filing dated May 8, 2026.