diff --git a/lib/liquid/variable.rb b/lib/liquid/variable.rb
index 837c588..0c04fe2 100644
--- a/lib/liquid/variable.rb
+++ b/lib/liquid/variable.rb
@@ -11,7 +11,7 @@ module Liquid
   #   {{ user | link }}
   #
   class Variable
-    FilterParser = /(?:#{FilterSeparator}|(?:\s*(?!(?:#{FilterSeparator}))(?:#{QuotedFragment}|\S+)\s*)+)/o
+    FilterParser = /(?:#{FilterSeparator}|(?:\s*(?:#{QuotedFragment}|#{ArgumentSeparator})\s*)+)/o
     attr_accessor :filters, :name
 
     def initialize(markup)
diff --git a/test/liquid/variable_test.rb b/test/liquid/variable_test.rb
index b17c2a7..7bdef35 100644
--- a/test/liquid/variable_test.rb
+++ b/test/liquid/variable_test.rb
@@ -66,6 +66,10 @@ class VariableTest < Test::Unit::TestCase
     var = Variable.new('hello|textileze|paragraph')
     assert_equal 'hello', var.name
     assert_equal [[:textileze,[]], [:paragraph,[]]], var.filters
+
+    var = Variable.new("hello|replace:'foo','bar'|textileze")
+    assert_equal 'hello', var.name
+    assert_equal [[:replace, ["'foo'", "'bar'"]], [:textileze, []]], var.filters
   end
 
   def test_symbol