Activist investor Sachem Head, managed by Scott Ferguson, significantly cut its stake in Twilio (TWLO) during the second quarter of 2026. According to its quarterly 13F report, which reflects holdings as of June 30, the firm reduced its position by nearly 73%, from 2.29 million shares down to 620,000. Investors should note that these mandatory filings are submitted with a delay and disclose positions held at the end of a quarter.
The reported market value of Sachem Head's investment in the software company decreased from $288.76 million to $127.92 million. The move is particularly notable given that a partner from Sachem Head, Andrew Stafman, serves on Twilio's board of directors, a role established after the firm built its initial activist position.