SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Soapstone Management L.P.

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

Reported Value
$249M
Q2 2021
Positions
20
Filings on Record
30
2019–present window
Filed
Aug 16, 2021
original filing

Summary

Soapstone Management L.P. reported $249M in U.S.-listed holdings across 20 positions for Q2 2021.

Its largest position, BLDR, represents 15.8% of the portfolio.

Compared with Q1 2021, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+11.0%
vs prior filed quarter
Top-10 Concentration
+74.4%
share of reported value
Largest Position
+15.8%
Builders Firstsource
New / Exited
2 / 1
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, 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

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: 99.2%REIT: 0.8%
  • Common Stock · 99.2% · $247M
  • REIT · 0.8% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMZNAMAZON COM INCNEW+3.3K3.3K+$11M$11M
WFGWEST FRASER TIMBER CO LTDNEW+100.0K100.0K+$7M$7M
CSTMCONSTELLIUM SEADDED+452.1K600.0K+$9M$11M
FCPTFOUR CORNERS PPTY TR INCSOLD OUT−292.7K0−$8M$0
PSAPUBLIC STORAGETRIMMED−18.8K6.3K−$4M$2M
TFCTRUIST FINL CORPADDED+100.0K300.0K+$5M$17M
SCHWSCHWAB CHARLES CORPTRIMMED−100.0K150.0K−$5M$11M
BCONBEACON ROOFING SUPPLY INCTRIMMED−125.0K200.0K−$6M$11M

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

Holdings — Q2 2021

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BLDRBUILDERS FIRSTSOURCE INChistory →COM15.83%$39M925.0K
2EQHEQUITABLE HLDGS INChistory →COM13.75%$34M1.13M
3CFGCITIZENS FINL GROUP INChistory →COM9.20%$23M500.0K
4TFCTRUIST FINL CORPhistory →COM6.68%$17M300.0K
5NOCNORTHROP GRUMMAN CORPhistory →COM6.02%$15M41.3K
6MASONITE INTL CORPCOM4.88%$12M108.8K
7OLNOLIN CORPhistory →COM PAR $14.64%$12M250.0K
8CSTMCONSTELLIUM SEhistory →CL A SHS4.56%$11M600.0K
9AMZNAMAZON COM INChistory →COM4.49%$11M3.3K
10SCHWSCHWAB CHARLES CORPhistory →COM4.38%$11M150.0K
11BCONBEACON ROOFING SUPPLY INChistory →COM4.27%$11M200.0K
12LDOSLEIDOS HOLDINGS INChistory →COM4.06%$10M100.0K
13GOOGLALPHABET INChistory →CAP STK CL A3.92%$10M4.0K
14JELDJELD-WEN HLDG INChistory →COM3.07%$8M291.6K
15WFGWEST FRASER TIMBER CO LTDhistory →COM2.88%$7M100.0K
16WFCWELLS FARGO CO NEWhistory →COM2.27%$6M125.0K
17ADNTADIENT PLChistory →ORD SHS2.00%$5M110.5K
18ASIXADVANSIX INChistory →COM1.20%$3M100.0K
19USBUS BANCORP DELhistory →COM NEW1.14%$3M50.0K
20PSAPUBLIC STORAGECOM0.75%$2M6.3K

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 ↗.