Managers / Q3 2020 · view latest →
Soapstone Management L.P.
CIK 0001726948 · 7500 OLD GEORGETOWN ROAD, SUITE 200, BETHESDA, MD, 20814 · 212-319-1438
Summary
Soapstone Management L.P. reported $204M in U.S.-listed holdings across 20 positions for Q3 2020.
Its largest position, BLDR, represents 16.0% of the portfolio.
Compared with Q2 2020, the fund opened 4 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 88.4% · $180M
- REIT · 11.6% · $24M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| MASONITE INTL CORP | NEW | +80.0K | 80.0K | +$8M | $8M |
| PFPTPROOFPOINT INC | NEW | +35.0K | 35.0K | +$4M | $4M |
| STSENSATA TECHNOLOGIES HLDNG P | NEW | +63.0K | 63.0K | +$3M | $3M |
| JELDJELD-WEN HLDG INC | NEW | +76.6K | 76.6K | +$2M | $2M |
| EQHEQUITABLE HLDGS INC | ADDED | +725.0K | 975.0K | +$13M | $18M |
| TFCTRUIST FINL CORP | ADDED | +100.0K | 200.0K | +$4M | $8M |
| FISFIDELITY NATL INFORMATION SV | SOLD OUT | −25.0K | 0 | −$3M | $0 |
| ASIXADVANSIX INC | ADDED | +68.0K | 150.0K | +$969,000 | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BLDRBUILDERS FIRSTSOURCE INChistory → | COM | 16.02% | $33M | 1.00M |
| 2 | SCHWSCHWAB CHARLES CORPhistory → | COM | 10.54% | $21M | 592.5K |
| 3 | BCONBEACON ROOFING SUPPLY INChistory → | COM | 8.77% | $18M | 575.0K |
| 4 | EQHEQUITABLE HLDGS INChistory → | COM | 8.73% | $18M | 975.0K |
| 5 | PSAPUBLIC STORAGEhistory → | COM | 7.52% | $15M | 68.8K |
| 6 | CFGCITIZENS FINL GROUP INChistory → | COM | 6.52% | $13M | 525.0K |
| 7 | BMCHBMC STK HLDGS INChistory → | COM | 6.31% | $13M | 300.0K |
| 8 | OLNOLIN CORPhistory → | COM PAR $1 | 6.08% | $12M | 1.00M |
| 9 | GOOGLALPHABET INChistory → | CAP STK CL A | 4.14% | $8M | 5.8K |
| 10 | FCPTFOUR CORNERS PPTY TR INChistory → | COM | 4.08% | $8M | 325.0K |
| 11 | NSPINSPERITY INChistory → | COM | 4.02% | $8M | 125.0K |
| 12 | MASONITE INTL CORP | COM | 3.87% | $8M | 80.0K |
| 13 | TFCTRUIST FINL CORPhistory → | COM | 3.74% | $8M | 200.0K |
| 14 | WFCWELLS FARGO CO NEWhistory → | COM | 2.02% | $4M | 175.0K |
| 15 | URIUNITED RENTALS INChistory → | COM | 1.82% | $4M | 21.3K |
| 16 | PFPTPROOFPOINT INChistory → | COM | 1.81% | $4M | 35.0K |
| 17 | STSENSATA TECHNOLOGIES HLDNG Phistory → | SHS | 1.33% | $3M | 63.0K |
| 18 | ASIXADVANSIX INC | COM | 0.95% | $2M | 150.0K |
| 19 | USBUS BANCORP DEL | COM NEW | 0.88% | $2M | 50.0K |
| 20 | JELDJELD-WEN HLDG INC | COM | 0.85% | $2M | 76.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $140M | 12 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $136M | 13 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $147M | 13 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $151M | 15 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $128M | 14 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $106M | 15 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $120M | 15 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $150M | 18 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $179M | 16 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $183M | 19 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $216M | 18 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $224M | 18 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $224M | 17 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $237M | 18 | Jan 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $256M | 21 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $236M | 18 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $219M | 15 | May 6, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $217M | 18 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $238M | 17 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $249M | 20 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $225M | 19 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $232M | 20 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $204M | 20 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $174M | 17 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $116M | 15 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $157M | 16 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $184M | 17 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $184M | 18 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $205M | 19 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $166M | 21 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.