Soapstone Management L.P.
Portfolio value QoQ: -2.1% 13F does not disclose cash
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 44.44% Est. buys $61,745,050 · sells $65,707,965
Median holding: 4.0 quarters Tracked Q1 2025–Q2 2026 · 48.1% still held
Performance vs S&P 500
Annualized: +32.4% · S&P 500: +28.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Sector breakdown
Full portfolio 13 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| AGI | $30,340,000 | 22.07% | 1,000,000 | $-2,982,500 | Up ×4 | ||
| PSA | $18,302,825 | 13.31% | 57,500 | $-2,013,175 | Down ×1 | ||
| COO | $16,134,750 | 11.73% | 225,000 | ||||
| HDB | $13,560,750 | 9.86% | 525,000 | $7,340,750 | Up ×1 | ||
| SCHW | $13,263,813 | 9.65% | 143,750 | Up ×1 | |||
| BDX | $12,863,050 | 9.35% | 85,000 | $5,198,087 | Up ×1 | ||
| POST | $9,598,275 | 6.98% | 108,750 | Up ×1 | |||
| CSTM | $6,374,000 | 4.64% | 200,000 | $-13,290,000 | Down ×4 | ||
| TFX | $6,338,000 | 4.61% | 50,000 | $-7,865,688 | Down ×1 | ||
| AMZN | $4,766,800 | 3.47% | 20,000 | $-127,545 | Down ×4 | ||
| LDOS | $2,574,250 | 1.87% | 25,000 | ||||
| MTN | $2,042,250 | 1.49% | 15,000 | $-8,223,350 | Down ×1 | ||
| BLDR | $1,342,200 | 0.98% | 15,000 | $107,250 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| AGI | $30,340,000 | 22.07% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| CSTM | Trimmed | -600K | -$13.3M |
| TFX | Trimmed | -69K | -$7.9M |
| HDB | Bought more | +275K | +$7.3M |
| BDX | Bought more | +36K | +$5.2M |
| AGI | Bought more | +250K | -$3.0M |
| PSA | Trimmed | -18K | -$2.0M |
| AMZN | Trimmed | -4K | -$128K |
| BLDR | Price move only | +0 | +$107K |
1 position hidden — reported move looks larger than the position itself (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| CFG | June 30, 2026 | 225,000 | $13,493,250 | -8.3% |
| HDB | June 30, 2025 | 175,000 | $11,627,000 | -42.4% |
| BALL | March 31, 2026 | 200,000 | $10,594,000 | -4.9% |
| AWK | March 31, 2026 | 75,000 | $9,787,500 | -5.3% |
| ANGI | June 30, 2026 | 1,000,000 | $6,850,000 | 3.8% |
| SAIA | Sept. 30, 2025 | 23,750 | $6,507,263 | 15.6% |
| LDOS | Sept. 30, 2025 | 37,500 | $5,916,000 | -37.8% |
| BDX | Dec. 31, 2025 | 23,500 | $4,398,495 | 17.4% |
| COO | Dec. 31, 2025 | 63,750 | $4,370,700 | -30.6% |
| NEM | June 30, 2025 | 68,750 | $3,319,250 | 96.6% |
| OLN | March 31, 2026 | 150,000 | $3,124,500 | -46.2% |
| UNH | Sept. 30, 2025 | 8,500 | $2,651,745 | 7.2% |
| AEM | March 31, 2026 | 15,000 | $2,542,950 | -10.4% |
| CEG | June 30, 2025 | 12,500 | $2,520,375 | -18.2% |
| KNF | March 31, 2026 | 34,071 | $2,396,895 | -38.2% |
| WDAY | June 30, 2026 | 17,500 | $2,273,600 | 52.0% |
| IQV | Sept. 30, 2025 | 5,000 | $787,950 | 37.6% |
| NEOG | March 31, 2026 | 100,000 | $699,000 | 32.5% |