Soapstone Management L.P. Diversified Active

CIK: 0001726948 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $135,710 (100.0% shares, 0.0% debt)

Holdings (13)

New Positions (2)

BALL BALL CORP 7.8%

Value ($000) $10,594 Shares 200,000 Est. Cost $49.09 Unrealized 0.0%

KNF KNIFE RIVER CORP 1.8%

Value ($000) $2,397 Shares 34,071 Est. Cost $70.23 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BALL	BALL CORP	200,000	$10,594	7.8%	$49.09	0.0%	COM	058498106
KNF	KNIFE RIVER CORP	34,071	$2,397	1.8%	$70.23	0.0%	COMMON STOCK	498894104

Increased Positions (1)

AGI ALAMOS GOLD INC NEW 19.8%

Value ($000) $26,824 (+147.7%) Shares 695,285 (+123.8%) Est. Cost $31.45 Unrealized +10.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AGI	ALAMOS GOLD INC NEW	695,285 (+123.8%)	$26,824 (+147.7%)	19.8%	$31.45	+10.8%	COM CL A	011532108

Exited Positions (2)

BDX BECTON DICKINSON & CO 3.2%

Value ($000) $4,398 Shares 23,500 Est. Cost $184.06 Unrealized +3.0%

COO COOPER COS INC 3.2%

Value ($000) $4,371 Shares 63,750 Est. Cost $70.83 Unrealized +5.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BDX	BECTON DICKINSON & CO	23,500	$4,398	3.2%	$184.06	+3.0%	—	075887109
COO	COOPER COS INC	63,750	$4,371	3.2%	$70.83	+5.7%	—	216648501

Decreased Positions (6)

AWK AMERICAN WTR WKS CO INC NEW 7.2%

Value ($000) $9,788 (-51.5%) Shares 75,000 (-48.3%) Est. Cost $132.70 Unrealized +0.4%

CFG CITIZENS FINL GROUP INC 9.7%

Value ($000) $13,142 (-41.8%) Shares 225,000 (-47.1%) Est. Cost $36.94 Unrealized +45.0%

AMZN AMAZON COM INC 7.0%

Value ($000) $9,521 (-35.8%) Shares 41,250 (-38.9%) Est. Cost $150.22 Unrealized +52.3%

AEM AGNICO EAGLE MINES LTD 1.9%

Value ($000) $2,543 (-49.7%) Shares 15,000 (-50.0%) Est. Cost $81.14 Unrealized +106.9%

MTN VAIL RESORTS INC 7.8%

Value ($000) $10,624 (-14.4%) Shares 80,000 (-3.6%) Est. Cost $180.48 Unrealized -18.5%

CSTM CONSTELLIUM SE 18.8%

Value ($000) $25,448 (+2.5%) Shares 1,350,000 (-19.1%) Est. Cost $14.55 Unrealized +14.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AWK	AMERICAN WTR WKS CO INC NEW	75,000 (-48.3%)	$9,788 (-51.5%)	7.2%	$132.70	+0.4%	COM	030420103
CFG	CITIZENS FINL GROUP INC	225,000 (-47.1%)	$13,142 (-41.8%)	9.7%	$36.94	+45.0%	COM	174610105
AMZN	AMAZON COM INC	41,250 (-38.9%)	$9,521 (-35.8%)	7.0%	$150.22	+52.3%	COM	023135106
AEM	AGNICO EAGLE MINES LTD	15,000 (-50.0%)	$2,543 (-49.7%)	1.9%	$81.14	+106.9%	COM	008474108
MTN	VAIL RESORTS INC	80,000 (-3.6%)	$10,624 (-14.4%)	7.8%	$180.48	-18.5%	COM	91879Q109
CSTM	CONSTELLIUM SE	1,350,000 (-19.1%)	$25,448 (+2.5%)	18.8%	$14.55	+14.1%	CL A SHS	F21107101

Unchanged Positions (4)

PSA PUBLIC STORAGE OPER CO 14.3%

Value ($000) $19,463 Shares 75,000 Est. Cost $286.76 Unrealized -3.3%

OLN OLIN CORP 2.3%

Value ($000) $3,125 Shares 150,000 Est. Cost $27.59 Unrealized -22.3%

BLDR BUILDERS FIRSTSOURCE INC 1.1%

Value ($000) $1,543 Shares 15,000 Est. Cost $26.60 Unrealized +322.5%

NEOG NEOGEN CORP 0.5%

Value ($000) $699 Shares 100,000 Est. Cost $14.35 Unrealized -56.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PSA	PUBLIC STORAGE OPER CO	75,000	$19,463	14.3%	$286.76	-3.3%	COM	74460D109
OLN	OLIN CORP	150,000	$3,125	2.3%	$27.59	-22.3%	COM PAR $1	680665205
BLDR	BUILDERS FIRSTSOURCE INC	15,000	$1,543	1.1%	$26.60	+322.5%	COM	12008R107
NEOG	NEOGEN CORP	100,000	$699	0.5%	$14.35	-56.2%	COM	640491106