SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Soapstone Management L.P.

CIK 0001726948 · 7500 OLD GEORGETOWN ROAD, SUITE 200, BETHESDA, MD, 20814 · 212-319-1438

Reported Value
$232M
Q4 2020
Positions
20
Filings on Record
30
2019–present window
Filed
Feb 16, 2021
original filing

Summary

Soapstone Management L.P. reported $232M in U.S.-listed holdings across 20 positions for Q4 2020.

Its largest position, EQH, represents 12.1% of the portfolio.

Compared with Q3 2020, the fund opened 3 new positions and exited 3.

Portfolio Metrics

Turnover
+11.1%
vs prior filed quarter
Top-10 Concentration
+76.9%
share of reported value
Largest Position
+12.1%
Equitable
New / Exited
3 / 3
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $166MQ4 ’18Q1 ’19: $205MQ2 ’19: $184MQ3 ’19: $184MQ4 ’19: $157MQ4 ’19Q1 ’20: $116MQ2 ’20: $174MQ3 ’20: $204MQ4 ’20: $232MQ4 ’20Q1 ’21: $225MQ2 ’21: $249MQ3 ’21: $238MQ4 ’21: $217MQ4 ’21Q1 ’22: $219MQ2 ’22: $236MQ3 ’22: $256MQ4 ’22: $237MQ4 ’22Q1 ’23: $224MQ2 ’23: $224MQ3 ’23: $216MQ4 ’23: $183MQ4 ’23Q1 ’24: $179MQ2 ’24: $150MQ3 ’24: $120MQ4 ’24: $106MQ4 ’24Q1 ’25: $128MQ2 ’25: $151MQ3 ’25: $147MQ4 ’25: $136MQ4 ’25Q1 ’26: $140Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 87.4%REIT: 10.6%Other: 2.0%
  • Common Stock · 87.4% · $203M
  • REIT · 10.6% · $25M
  • Other · 2.0% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NOCNORTHROP GRUMMAN CORPNEW+20.0K20.0K+$6M$6M
ADIENT PLCNEW+133.6K133.6K+$5M$5M
LDOSLEIDOS HOLDINGS INCNEW+26.8K26.8K+$3M$3M
JELDJELD-WEN HLDG INCADDED+173.4K250.0K+$5M$6M
NSPINSPERITY INCSOLD OUT−125.0K0−$8M$0
PFPTPROOFPOINT INCSOLD OUT−35.0K0−$4M$0
SENSATA TECHNOLOGIES HLDNG PSOLD OUT−63.0K0−$3M$0
DOORUSDMASONITE INTL CORPADDED+45.0K125.0K+$4M$12M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2020

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EQHEQUITABLE HLDGS INChistory →COM12.12%$28M1.10M
2BLDRBUILDERS FIRSTSOURCE INChistory →COM11.86%$28M675.0K
3CFGCITIZENS FINL GROUP INChistory →COM9.16%$21M595.0K
4BECNUSDBEACON ROOFING SUPPLY INChistory →COM8.64%$20M499.5K
5SCHWSCHWAB CHARLES CORPhistory →COM7.42%$17M325.0K
6PSAPUBLIC STORAGEhistory →COM6.48%$15M65.1K
7BMCHBMC STK HLDGS INChistory →COM6.35%$15M275.0K
8OLNOLIN CORPhistory →COM PAR $15.41%$13M511.6K
9DOORUSDMASONITE INTL CORPhistory →COM5.29%$12M125.0K
10FCPTFOUR CORNERS PPTY TR INChistory →COM4.16%$10M325.0K
11TFCTRUIST FINL CORPhistory →COM4.13%$10M200.0K
12GOOGLALPHABET INChistory →CAP STK CL A3.77%$9M5.0K
13JELDJELD-WEN HLDG INChistory →COM2.73%$6M250.0K
14NOCNORTHROP GRUMMAN CORPhistory →COM2.62%$6M20.0K
15WFCWELLS FARGO CO NEWhistory →COM2.27%$5M175.0K
16ADIENT PLCORD SHS2.00%$5M133.6K
17URIUNITED RENTALS INChistory →COM1.85%$4M18.5K
18ASIXADVANSIX INChistory →COM1.53%$4M178.4K
19LDOSLEIDOS HOLDINGS INChistory →COM1.21%$3M26.8K
20USBUS BANCORP DELhistory →COM NEW1.00%$2M50.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$140M12May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$136M13Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$147M13Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$151M15Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$128M14May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$106M15Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$120M15Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$150M18Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$179M16May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$183M19Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$216M18Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$224M18Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$224M17May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$237M18Jan 25, 202313F-HRchanges · EDGAR ↗
Q3 2022$256M21Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$236M18Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$219M15May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$217M18Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$238M17Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$249M20Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$225M19May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$232M20Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$204M20Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$174M17Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$116M15May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$157M16Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$184M17Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$184M18Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$205M19May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$166M21Feb 14, 201913F-HRchanges · 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 ↗.