Soapstone Management L P's Q4 2025 13F: 2 new positions, 2 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 17, 2026 · 13 reported positions · accession 0001398344-26-003286
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | ALAMOS GOLD INC NEW (AGI) | 7.4% | 19.8% | +12.4 pts | +385K sh | +124% |
| Reduced | CITIZENS FINL GROUP INC (CFG) | 15.3% | 9.7% | −5.7 pts | −200K sh | −47% |
| New | BALL CORP (BALL) | — | 7.8% | +7.8 pts | +200K sh | new |
| Reduced | AMERICAN WTR WKS CO INC NEW (AWK) | 13.7% | 7.2% | −6.5 pts | −70,030 sh | −48% |
| Reduced | AMAZON COM INC (AMZN) | 10.1% | 7.0% | −3.0 pts | −26,250 sh | −39% |
| Reduced | CONSTELLIUM SE (CSTM) | 16.9% | 18.8% | +1.9 pts | −319K sh | −19% |
| Exited | BECTON DICKINSON & CO (BDX) | 3.0% | — | −3.0 pts | −23,500 sh | −100% |
| Exited | COOPER COS INC (COO) | 3.0% | — | −3.0 pts | −63,750 sh | −100% |
| Reduced | AGNICO EAGLE MINES LTD (AEM) | 3.4% | 1.9% | −1.6 pts | −15,000 sh | −50% |
| New | KNIFE RIVER CORP (KNF) | — | 1.8% | +1.8 pts | +34,071 sh | new |
| Reduced | VAIL RESORTS INC (MTN) | 8.4% | 7.8% | −0.6 pts | −3,023 sh | −4% |
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 — 96.6% of the equity book
Changes in the top 10 this quarter: BALL entered · OLN entered · BDX left · COO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ALAMOS GOLD INC NEW (AGI) | 7.4% | 19.8% | |
| 2 | CONSTELLIUM SE (CSTM) | 16.9% | 18.8% | |
| 3 | PUBLIC STORAGE OPER CO (PSA) | 14.7% | 14.3% | |
| 4 | CITIZENS FINL GROUP INC (CFG) | 15.3% | 9.7% | |
| 5 | VAIL RESORTS INC (MTN) | 8.4% | 7.8% | |
| 6 | BALL CORP (BALL) | 0.0% | 7.8% | Entered the top 10 |
| 7 | AMERICAN WTR WKS CO INC NEW (AWK) | 13.7% | 7.2% | |
| 8 | AMAZON COM INC (AMZN) | 10.1% | 7.0% | |
| 9 | OLIN CORP (OLN) | 2.5% | 2.3% | Entered the top 10 |
| 10 | AGNICO EAGLE MINES LTD (AEM) | 3.4% | 1.9% | |
| — | BECTON DICKINSON & CO (BDX) | 3.0% | 0.0% | Left the top 10 |
| — | COOPER COS INC (COO) | 3.0% | 0.0% | 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).