In a recent quarterly disclosure filed with the SEC, Stephen Mandel's Lone Pine Capital reported a significant reduction in its position in Carpenter Technology Corp. (CRS). The fund sold approximately 855,000 shares, cutting its stake by nearly half. This transaction was disclosed in a 13F filing, which reflects positions held as of June 30, 2026, and doesn't represent a real-time trade.
The sale occurred during a period of strong performance for Carpenter Technology, which recently reported its most profitable year in company history and provided a robust outlook for fiscal year 2027. The specialty metals producer also recently authorized a new $1.0 billion share repurchase program. No specific reason for the stock sale was publicly disclosed by Mandel or Lone Pine Capital.