Soapstone Management L.P.
BETHESDA, MD
$138m in 13 US stocks at the end of 30 June 2026. The top 10 are 95.7% of the money. It changed about 39.7% of the portfolio this quarter.
Value
$138m
Stocks
13
Top 10 share
95.7%
Turnover
39.7%
What changed this quarter
New
Bought for the first time this quarter.
- Cooper CompaniesCOO11.7% of the fund
- Charles SchwabSCHW9.6% of the fund
- Post HoldingsPOST7.0% of the fund
- Leidos HoldingsLDOS1.9% of the fund
Added
Bought more of a stock they already held.
- Alamos GoldAGI22.1% of the fund+33%
- HDFC BankHDB9.9% of the fund+110%
- Becton DickinsonBDX9.4% of the fund+74%
Cut
Sold some of their stake.
- Public StoragePSA13.3% of the fund-23%
- Constellium SECSTM4.6% of the fund-75%
- TeleflexTFX4.6% of the fund-58%
- Amazon.comAMZN3.5% of the fund-15%
- Vail ResortsMTN1.5% of the fund-81%
Sold out
Sold their entire stake.
- Citizens Financial GroupCFG-100%
- AngiANGI-100%
- WorkdayWDAY-100%
Holdings
- Alamos GoldAGI
- Share
- 22.1%
- Value
- $30m
- Shares
- 1,000,000
+33%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Alamos GoldAGI | 22.1% | $30m | 1,000,000 | +33% |
| Public StoragePSA | 13.3% | $18m | 57,500 | -23% |
| Cooper CompaniesCOO | 11.7% | $16m | 225,000 | New |
| HDFC BankHDB | 9.9% | $14m | 525,000 | +110% |
| Charles SchwabSCHW | 9.6% | $13m | 143,750 | New |
| Becton DickinsonBDX | 9.4% | $13m | 85,000 | +74% |
| Post HoldingsPOST | 7.0% | $10m | 108,750 | New |
| Constellium SECSTM | 4.6% | $6m | 200,000 | -75% |
| TeleflexTFX | 4.6% | $6m | 50,000 | -58% |
| Amazon.comAMZN | 3.5% | $5m | 20,000 | -15% |
| Leidos HoldingsLDOS | 1.9% | $3m | 25,000 | New |
| Vail ResortsMTN | 1.5% | $2m | 15,000 | -81% |
| Builders FirstSourceBLDR | 1.0% | $1m | 15,000 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 8.7% since 30 June 2025.
Where the money is
Materials26.7%
Health care25.7%
Financial services19.5%
Real estate13.3%
Everyday goods7.0%
Retail & consumer5.9%
Industrials1.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.