Encompass Capital disclosed a significant reduction in its position in Forgent Power Solutions (FPS), a manufacturer of electrical equipment for data centers and power grids. According to a quarterly filing with the SEC, the firm sold approximately 1.5 million shares, cutting its stake by nearly 78% to about 424,000 shares. This transaction occurred during the three months ending June 30, 2026, a period that followed Forgent's recent initial public offering and included subsequent public stock offerings by the company.
The reported value of Encompass Capital's remaining holding was $23.71 million at the end of the second quarter. It is important to note that 13F filings are submitted to the SEC up to 45 days after a quarter ends, so this disclosure reflects a portfolio snapshot from June 30, 2026, and not necessarily a current holding. The filing does not include the investor's motive for the substantial reduction in their position.