In a recent SEC filing, Dan Loeb's Third Point revealed a reduction in its stake in Carpenter Technology (CRS) by nearly 31%. The filing, which reflects holdings as of June 30, 2026, showed the firm sold 95,000 shares, decreasing its position from 310,000 to 215,000 shares. Despite the sale, the reported value of the holding increased from $122.19 million to $132.62 million due to the stock's performance during the period.
As with all 13F filings, these trades occurred in the quarter prior to the disclosure date of August 14. The adjustment to the Carpenter Technology position was part of a broader portfolio reshuffle for Third Point, which also involved exiting major tech stocks like Meta and Nvidia. This move came as Carpenter Technology itself reported strong financial results for its fiscal year and announced a new $1 billion share repurchase program.