# Soapstone Management L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1726948. Source: https://holderbook.com/funds/1726948-soapstone-management-l-p/

- Reported value: $137.5M
- Positions: 13
- Weight of the ten largest: 95.7%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $30.3M | 1,000,000 | 22.1% | 5 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $18.3M | 57,500 | 13.3% | 6 |
| COOPER COS INC | [COO](https://holderbook.com/stocks/COO/) | $16.1M | 225,000 | 11.7% | 1 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $13.6M | 525,000 | 9.9% | 2 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $13.3M | 143,750 | 9.6% | 1 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $12.9M | 85,000 | 9.4% | 2 |
| POST HLDGS INC | [POST](https://holderbook.com/stocks/POST/) | $9.6M | 108,750 | 7.0% | 1 |
| CONSTELLIUM SE | [CSTM](https://holderbook.com/stocks/CSTM/) | $6.4M | 200,000 | 4.6% | 22 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $6.3M | 50,000 | 4.6% | 2 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.8M | 20,000 | 3.5% | 21 |
| LEIDOS HOLDINGS INC | [LDOS](https://holderbook.com/stocks/LDOS/) | $2.6M | 25,000 | 1.9% | 1 |
| VAIL RESORTS INC | [MTN](https://holderbook.com/stocks/MTN/) | $2.0M | 15,000 | 1.5% | 9 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $1.3M | 15,000 | 1.0% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +1.6% | +14.8% | -13.2% | 100% |
| Q1 2026 | +11.4% | -4.6% | +16.1% | 100% |
| Q4 2025 | +4.2% | +2.4% | +1.8% | 100% |
| Q3 2025 | +9.0% | +7.8% | +1.2% | 100% |
| Q2 2025 | +9.1% | +10.5% | -1.4% | 100% |
| Q1 2025 | -2.1% | -4.6% | +2.4% | 100% |
| Q4 2024 | -11.8% | +2.1% | -13.9% | 100% |
| Q3 2024 | +8.2% | +5.4% | +2.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $137.5M | 13 |
| Q1 2026 | $140.4M | 12 |
| Q4 2025 | $135.7M | 13 |
| Q3 2025 | $147.3M | 13 |
| Q2 2025 | $150.7M | 15 |
| Q1 2025 | $128.0M | 14 |
| Q4 2024 | $106.4M | 15 |
| Q3 2024 | $120.3M | 15 |
| Q2 2024 | $149.9M | 18 |
| Q1 2024 | $179.2M | 16 |
| Q4 2023 | $182.8M | 19 |
| Q3 2023 | $216.3M | 18 |