Scott Ferguson's Sachem Head reduced its position in Talen Energy by 11.47% during the second quarter of 2026, selling 178,000 shares. According to a delayed 13F filing from August 14, the fund's stake decreased to 1.37 million shares. Despite the sale, the reported value of Sachem Head's holding increased to $526.44 million due to a rise in the stock's price during the period. Talen Energy remains a significant holding for the activist investor, accounting for 10.92% of its reported portfolio.
This disclosure comes as Talen Energy navigates a period of transformation, having recently emerged from bankruptcy and pursued acquisitions of natural gas assets. The company's stock has faced headwinds more recently, hitting a 52-week low in late August 2026. Despite a reported second-quarter loss, Talen raised its full-year outlook, and some analysts view its exposure to tightening power markets favorably.