SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Soapstone Management L.P.

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

Reported Value
$219M
Q1 2022
Positions
15
Filings on Record
30
2019–present window
Filed
May 6, 2022
original filing

Summary

Soapstone Management L.P. reported $219M in U.S.-listed holdings across 15 positions for Q1 2022.

Its largest position, BLDR, represents 13.3% of the portfolio.

Compared with Q4 2021, the fund opened 2 new positions and exited 5.

Portfolio Metrics

Turnover
+27.1%
vs prior filed quarter
Top-10 Concentration
+83.3%
share of reported value
Largest Position
+13.3%
Builders Firstsource
New / Exited
2 / 5
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: 80.1%Other: 12.0%ADR: 7.9%
  • Common Stock · 80.1% · $175M
  • Other · 12.0% · $26M
  • ADR · 7.9% · $17M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CA8ACACI INTL INCNEW+57.5K57.5K+$17M$17M
CEGCONSTELLATION ENERGY CORPNEW+300.0K300.0K+$17M$17M
AMZNAMAZON COM INCADDED+1.9K3.1K+$6M$10M
ASAIYSENDAS DISTRIBUIDORA S AADDED+582.9K1.00M+$12M$17M
DIGIMARC CORP NEWADDED+36.6K69.1K+$541,000$2M
NOCNORTHROP GRUMMAN CORPSOLD OUT−23.7K0−$9M$0
CCKCROWN HLDGS INCSOLD OUT−57.5K0−$6M$0
SCHWSCHWAB CHARLES CORPSOLD OUT−75.0K0−$6M$0

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

Holdings — Q1 2022

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BLDRBUILDERS FIRSTSOURCE INChistory →COM13.28%$29M450.0K
2EQHEQUITABLE HLDGS INChistory →COM11.66%$26M825.0K
3LDOSLEIDOS HOLDINGS INChistory →COM8.65%$19M175.0K
4CA8ACACI INTL INChistory →CL A7.92%$17M57.5K
5ASAIYSENDAS DISTRIBUIDORA S Ahistory →SPON ADS7.86%$17M1.00M
6CEGCONSTELLATION ENERGY CORPhistory →COM7.72%$17M300.0K
7DOORUSDMASONITE INTL CORPhistory →COM7.11%$16M174.8K
8JELDJELD-WEN HLDG INChistory →COM6.96%$15M750.0K
9CONSTELLIUM SECL A SHS6.18%$14M750.0K
10OLNOLIN CORPhistory →COM PAR $15.98%$13M250.0K
11RENAISSANCERE HLDGS LTDCOM4.98%$11M68.8K
12AMZNAMAZON COM INChistory →COM4.66%$10M3.1K
13GOOGLALPHABET INChistory →CAP STK CL A4.13%$9M3.3K
14CFGCITIZENS FINL GROUP INChistory →COM2.07%$5M100.0K
15DIGIMARC CORP NEWCOM0.83%$2M69.1K

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 ↗.