In a recent 13F filing with the SEC, Stephen Mandel's hedge fund, Lone Pine Capital, reported a significant reduction in its position in McKesson Corp (MCK). The filing, which reflects holdings as of June 30, 2026, shows the firm decreased its stake by 85.25%, from 392,220 shares down to 57,851. It is important to note that these quarterly filings are released with a delay and do not represent a real-time trading activity.
This trade lowered the value of Lone Pine's holding in the pharmaceutical distributor to approximately $43.71 million. The move comes as part of a broader portfolio reshuffle for the prominent fund. McKesson itself has recently been in the news, having raised its quarterly dividend in July 2026. No specific commentary from Mandel or Lone Pine regarding the reason for the reduction has been made public.