Building Products - 1Q26 Review Of Group Shareholder Activity

Research evidence excerpt

Building Products - 1Q26 Review Of Group Shareholder Activity

Truist Securities

Equity Research Report May 19, 2026

INDUSTRIALS: Building Products/

Durable Goods Building Products - 1Q26 Review Of

Group Shareholder Activity

Quarterly shareholder filings for our coverage showed that the investor mix continued Keith Hughes to skew towards long-only investors, extending the trend seen over the last several

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Keith.Hughes@truist.com quarters. Hedge funds were net buyers during the first quarter.

Mia Senyitko Long-Only Made Up the Largest Portion of the Top 25 Ownership Breakdown...

404-439-7395 Long-only investors within the top 25 shareholders of companies in our group accounted

Mia.Senyitko@truist.com for an average of 27% of total shares outstanding. This was closely followed by

index funds, which represented 25% on average. Overall, the top 25 investors held

5 Page Document approximately 61% of total shares outstanding during the quarter, though this varied

widely across individual names, as discussed below.

Reasons for this report ... and Had The Largest Share of Buying & Selling Activity During the Quarter.

Long-only investors also dominated trading activity, representing the largest share of

✓ Sector Update both buying and selling during the quarter. On average, this investor base accounted

✓ Review of Quarterly 13F Filings Related to for 5 of the top 10 buyers and sellers across our coverage universe. Specifically, long-

Our Coverage only investors accounted for 42% of the top 10 buyers and 54% of the top 10 sellers.

Hedge Funds Doing More Buying than Selling. Among the top 10 buyers and sellers,

hedge funds were more active on the buy side. Hedge funds represented 35% of the

top 10 buyers and 31% of the top 10 sellers.