Activist investor Scott Ferguson's Sachem Head sold its entire position in Coherent Corp. during the second quarter of 2026. The firm liquidated its holding of 965,000 shares, which were valued at approximately $229.9 million at the end of the prior quarter.
This trade was disclosed in a quarterly 13F filing on August 14, which reports holdings as of June 30, meaning the transactions occurred between April and June. The sale is notable as the position previously represented a significant 5.54% of Sachem Head's reported portfolio. The exit follows a period of very strong stock performance for Coherent, driven by high demand for its photonics and laser technologies used in AI data centers.