557,006 OshKosh (OSK) Shares Worth $63.2 Million Sold by SG Capital

What happened

SG Capital Management LLC reported a complete exit from its stake in Oshkosh Corporation (NYSE:OSK), according to a filing with the U.S. Securities and Exchange Commission dated November 07, 2025. The fund sold all 557,006 shares held in the prior quarter, as part of a broader portfolio downsizing reflected in the latest 13F disclosure.

What else to know

• SG Capital Management LLC sold out of OSK; the stake now represents 0% of reportable 13F assets under management
• Top holdings after the filing:
  • NYSE:WLY: $59.68 million (5.98% of AUM)
  • NASDAQ:MIDD: $55.26 million (5.54% of AUM)
  • NASDAQ:TTMI: $53.80 million (5.39% of AUM)
  • NYSE:WMS: $45.59 million (4.57% of AUM)
  • NYSE:LRN: $41.78 million (4.19% of AUM)
• As of November 6, 2025, shares of Oshkosh Corporation were priced at $125.64, up 10.69% over the past year with 5.41 percentage points of alpha versus the S&P 500

Company Overview

Company Snapshot

• Oshkosh Corporation designs and manufactures specialty vehicles, including aerial work platforms, tactical defense vehicles, fire and emergency apparatus, concrete mixers, and refuse collection trucks.
• The company generates revenue by selling equipment and vehicles across four key segments—Access Equipment, Defense, Fire & Emergency, and Commercial—supplemented by parts, services, and financing solutions.
• Primary customers include construction firms, industrial and institutional clients, the U.S. Department of Defense, municipal agencies, and commercial fleet operators worldwide.

Oshkosh Corporation is a leading manufacturer of specialty vehicles and equipment, serving diverse end markets including defense, construction, emergency response, and commercial services. With a broad product portfolio and global reach, the company leverages engineering expertise and a multi-segment business model to drive consistent revenue streams.

Foolish take

SG Capital was hedging its OshKosh stock position with 700,000 put options. It completely sold out of both positions in the third quarter.

Exiting OshKosh was a significant portfolio change for SG Capital. The specialty vehicle manufacturer was the firm's second-largest holding at the end of June. The two OshKosh positions it sold in the third quarter were part of a larger portfolio revamp. Altogether, the firm completely exited 50 positions during the third quarter.

Shares of OshKosh have slightly underperformed the broad market. Over the past 12 months, the stock has gained 8.2%. The S&P 500 index rose by 12.7% over the same time frame.

A shifting economic outlook has made forecasting earnings extra challenging for OshKosh this year. In August, the company raised its outlook for adjusted earnings in 2025 to $11.00 per share despite uncertainties in the global trade environment. By late October, though, management changed and revised its adjusted earnings outlook to a range between $10.50 and $11.00 per share.

Glossary

13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Alpha: A measure of an investment's performance relative to a benchmark, showing excess return above the benchmark.
Portfolio Downsizing: The process of reducing the number or size of investments held in a portfolio.
Stake: The ownership interest or position an investor or fund holds in a particular company.
Dividend Yield: A financial ratio showing how much a company pays in dividends each year relative to its stock price.
TTM: The 12-month period ending with the most recent quarterly report.
Segment: A distinct business unit or division within a company, often reported separately for financial purposes.
Reportable: Refers to holdings or positions that must be disclosed in regulatory filings.
Institutional Investor: An organization that invests large sums of money, such as a mutual fund, pension fund, or hedge fund.
Exit Position: The act of selling all shares or holdings in a particular investment, leaving no remaining stake.

Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Drainage Systems, Middleby, and Stride. The Motley Fool has a disclosure policy.