Steve Cohen's Point72 Asset Management completely sold its position in oilfield services giant Baker Hughes during the second quarter of 2026. The firm liquidated its entire holding of 1.12 million shares, which was previously valued at approximately $68.66 million.
This trade was disclosed in an August 14 regulatory filing, which reflects portfolio changes made between April 1 and June 30. The exit occurred during a quarter where Baker Hughes reported strong results, with revenue of $6.7 billion and record orders in its Industrial & Energy Technology segment. No specific reason for the sale was publicly provided by Cohen or Point72.