Steve Cohen's Point72 Asset Management significantly reduced its investment in industrial manufacturer Regal Rexnord, selling over 80% of its stake. The firm's holding was cut from 685.6K shares down to 134.4K shares, with the position's reported value dropping from $128.38 million to $32.02 million. This trade represents a substantial reversal on a position that was newly established in the first quarter of 2026.
This activity was disclosed in a 13F filing released on August 14, which reflects trades made during the second quarter, between April and June. During that period, Regal Rexnord saw strong order growth in some segments but also experienced weakness in its residential HVAC and pool markets. After the quarter ended, the company reported its earnings on August 5, and despite beating EPS estimates, its stock fell significantly as investors reacted to a revenue miss and reduced margin expectations for the rest of the year.