Soapstone Management L P's Q2 2025 13F: 4 new positions, 3 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 14, 2025 · 15 reported positions · accession 0001398344-25-015664
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | HDFC BANK LTD (HDB) | 9.1% | — | −9.1 pts | −175K sh | −100% |
| Increased | CITIZENS FINL GROUP INC (CFG) | 9.6% | 17.1% | +7.5 pts | +275K sh | +92% |
| New | SAIA INC (SAIA) | — | 4.3% | +4.3 pts | +23,750 sh | new |
| New | ALAMOS GOLD INC NEW (AGI) | — | 3.9% | +3.9 pts | +219K sh | new |
| Exited | NEWMONT CORP (NEM) | 2.6% | — | −2.6 pts | −68,750 sh | −100% |
| Increased | PUBLIC STORAGE OPER CO (PSA) | 12.6% | 12.7% | +0.1 pts | +11,250 sh | +21% |
| Exited | CONSTELLATION ENERGY CORP (CEG) | 2.0% | — | −2.0 pts | −12,500 sh | −100% |
| New | UNITEDHEALTH GROUP INC (UNH) | — | 1.8% | +1.8 pts | +8,500 sh | new |
| Increased | CONSTELLIUM SE (CSTM) | 12.4% | 15.7% | +3.2 pts | +199K sh | +13% |
| Reduced | AMERICAN WTR WKS CO INC NEW (AWK) | 14.4% | 10.6% | −3.8 pts | −10,350 sh | −8% |
| New | IQVIA HLDGS INC (IQV) | — | 0.5% | +0.5 pts | +5,000 sh | new |
| Reduced | AGNICO EAGLE MINES LTD (AEM) | 3.4% | 3.0% | −0.4 pts | −2,500 sh | −6% |
| Increased | VAIL RESORTS INC (MTN) | 10.2% | 8.6% | −1.6 pts | +1,250 sh | +2% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 94.2% of the equity book
Changes in the top 10 this quarter: SAIA entered · AGI entered · HDB left · OLN left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | CITIZENS FINL GROUP INC (CFG) | 9.6% | 17.1% | |
| 2 | CONSTELLIUM SE (CSTM) | 12.4% | 15.7% | |
| 3 | AMAZON COM INC (AMZN) | 14.9% | 14.6% | |
| 4 | PUBLIC STORAGE OPER CO (PSA) | 12.6% | 12.7% | |
| 5 | AMERICAN WTR WKS CO INC NEW (AWK) | 14.4% | 10.6% | |
| 6 | VAIL RESORTS INC (MTN) | 10.2% | 8.6% | |
| 7 | SAIA INC (SAIA) | 0.0% | 4.3% | Entered the top 10 |
| 8 | LEIDOS HOLDINGS INC (LDOS) | 4.0% | 3.9% | |
| 9 | ALAMOS GOLD INC NEW (AGI) | 0.0% | 3.9% | Entered the top 10 |
| 10 | AGNICO EAGLE MINES LTD (AEM) | 3.4% | 3.0% | |
| — | HDFC BANK LTD (HDB) | 9.1% | 0.0% | Left the top 10 |
| — | OLIN CORP (OLN) | 2.8% | 2.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).