Progeny 3 Trims Peabody Energy Holdings, Reducing Stake by 2.8% of AUM

Progeny 3, a Seattle-based wealth advisory, sold 3 million shares of Peabody Energy Corporation (BTU) in Q3, reducing its exposure by $28.5 million. The fund now holds 908,593 shares valued at $24.1 million, accounting for 1.2% of its reportable U.S. equity holdings. Peabody Energy's stock price has risen 27% over the past year, outperforming the S&P 500. The company's main revenue streams include coal sales to utilities and industrial customers, with operations spanning the U.S. and Australia.