Sachem Head Capital Management
Sachem Head Capital Management, led by Scott Ferguson, is a New York-based hedge fund known for its activist investment approach. Ferguson, a protégé of Bill Ackman from Pershing Square Capital Management, founded Sachem Head in 2012. The fund typically employs a concentrated strategy, focusing on a limited number of long-term positions where it often seeks to influence management and board decisions.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 19 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| TLN | $494.0M | 11.90% | $319.23 | $367.89 | +15.2% | 11.9% | |
| SATS | $351.8M | 8.47% | $117.07 | $101.50 | -13.3% | 8.5% | |
| GDS | $349.9M | 8.43% | $40.29 | $30.56 | -24.1% | 8.4% | |
| PRMB | $321.9M | 7.75% | $18.83 | $24.90 | +32.2% | 7.8% | |
| DKS | $318.3M | 7.67% | $197.18 | $222.96 | +13.1% | 7.7% | |
| TWLO | $288.8M | 6.96% | $125.82 | $213.83 | +70.0% | 7.0% | |
| PFGC | $287.0M | 6.91% | $85.66 | $115.27 | +34.6% | 6.9% | |
| CVNA | $248.4M | 5.98% | $62.88 | $66.28 | +5.4% | 6.0% | |
| WFRD | $238.8M | 5.75% | $94.34 | $83.16 | -11.8% | 5.8% | |
| $232.9M | 5.61% | — | — | 5.6% | |||
| GIL | $230.4M | 5.55% | $55.40 | $52.02 | -6.1% | 5.5% | |
| COHR | $229.9M | 5.54% | $238.21 | $312.03 | +31.0% | 5.5% | |
| SHC | $167.0M | 4.02% | $14.34 | $17.93 | +25.0% | 4.0% | |
| ON | $120.4M | 2.90% | $61.92 | $90.62 | +46.4% | 2.9% | |
| FUN | $89.3M | 2.15% | $17.75 | $19.00 | +7.0% | 2.1% | |
| BTDR | $83.3M | 2.01% | $8.65 | $12.85 | +48.5% | 2.0% | |
| RSP | $37.7M | 0.91% | $191.18 | $214.74 | +12.3% | 0.9% | |
| CXM | $34.5M | 0.83% | $6.00 | $5.50 | -8.3% | 0.8% | |
| AKAM | $27.0M | 0.65% | $114.85 | $115.39 | +0.5% | 0.7% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (7)
| Ticker | Issuer | Notional | Since Filing |
|---|---|---|---|
| PRMB | $321.9M | +32.2% | |
| WFRD | $238.8M | -11.8% | |
| $232.9M | |||
| GIL | $230.4M | -6.1% | |
| ON | $120.4M | +46.4% | |
| BTDR | $83.3M | +48.5% | |
| AKAM | $27.0M | +0.5% |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| WBD | $230.4M | |
| ADMA | $207.5M | |
| CVS | $205.2M | |
| LYV | $173.4M | |
| GTM | $150.5M | |
| HUT | $129.8M | |
| KVUE | $57.1M | |
| REZI | $57.1M |
Increased (4)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| TLN | $119.2M | +54.8% | +15.2% | |
| DKS | $76.7M | +31.6% | +13.1% | |
| RSP | $8.4M | +28.3% | +12.3% | |
| CVNA | $-15.4M | +26.4% | +5.4% |
Trimmed (3)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| SATS | $-216.4M | -42.5% | -13.3% | |
| COHR | $-67.3M | -40.1% | +31.0% | |
| GDS | $25.4M | -6.6% | -24.1% |
Quarter Activity
During the quarter, Sachem Head Capital Management initiated several notable new positions, including PRMB with an investment of $322 million and WFRD at $239 million. The fund also exited significant positions in WBD and ADMA, valued at $230 million and $207 million, respectively. Additionally, there were shifts in portfolio concentration, with increased investments in TLN and DKS, and reductions in SATS and COHR.
AI Commentary
<p>Sachem Head Capital Management's portfolio showcases a strategic focus on a diverse set of sectors, with significant investments in energy, technology, retail, and food services. As of the latest quarter, the fund's top holdings include Talen Energy Corp (TLN) with an investment worth $494 million, representing 11.9% of the portfolio, followed by Echostar Corp (SATS) and GDS Holdings Ltd (GDS) with $352 million and $350 million respectively. Notably, the fund has made substantial new investments in Primo Brands Corporation (PRMB) and Weatherford International PLC (WFRD), indicating a keen interest in expanding into new areas or reinforcing existing interests in these sectors.</p> <p>The recent portfolio adjustments signal a strategic shift in Sachem Head's investment thesis. The closure of positions in Warner Bros Discovery (WBD), ADMA Biologics (ADMA), and CVS Health (CVS) alongside substantial reductions in Echostar Corp (SATS) and Coherent Corp (COHR) suggests a move away from media, healthcare, and specific tech segments. Conversely, the significant increases in holdings like Talen Energy Corp (TLN) and Dicks Sporting Goods Inc (DKS) highlight a growing confidence in the energy and retail sectors. These changes may reflect the fund's response to macroeconomic conditions, sector performance forecasts, or a re-allocation strategy aimed at optimizing returns in a changing market landscape.</p>