SEC 13F Intelligence

Managers / Q3 2022 · view latest →

Soapstone Management L.P.

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

Reported Value
$256M
Q3 2022
Positions
21
Filings on Record
30
2019–present window
Filed
Nov 14, 2022
original filing

Summary

Soapstone Management L.P. reported $256M in U.S.-listed holdings across 21 positions for Q3 2022.

Its largest position, CEG, represents 10.5% of the portfolio.

Compared with Q2 2022, the fund opened 3 new positions and exited 0.

Portfolio Metrics

Turnover
+10.9%
vs prior filed quarter
Top-10 Concentration
+75.6%
share of reported value
Largest Position
+10.5%
Constellation Energy

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: 83.6%Other: 7.0%ADR: 6.3%ETP: 3.0%
  • Common Stock · 83.6% · $214M
  • Other · 7.0% · $18M
  • ADR · 6.3% · $16M
  • ETP · 3.0% · $8M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES INCNEW+262.5K262.5K+$8M$8M
NEOGNEOGEN CORPNEW+350.0K350.0K+$5M$5M
CRCCANADIAN NAT RES LTDNEW+100.0K100.0K+$5M$5M
GOOGLALPHABET INCADDED+60.9K67.3K−$7M$6M
BALLBALL CORPADDED+225.0K325.0K+$9M$16M
FANGDIAMONDBACK ENERGY INCTRIMMED−23.1K15.7K−$3M$2M
JELDJELD-WEN HLDG INCTRIMMED−175.0K350.0K−$5M$3M
SCHWSCHWAB CHARLES CORPADDED+75.0K375.0K+$8M$27M

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

Holdings — Q3 2022

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CEGCONSTELLATION ENERGY CORPhistory →COM10.55%$27M325.0K
2SCHWSCHWAB CHARLES CORPhistory →COM10.52%$27M375.0K
3BLDRBUILDERS FIRSTSOURCE INChistory →COM9.20%$24M400.0K
4EQHEQUITABLE HLDGS INChistory →COM8.23%$21M800.0K
5CA8ACACI INTL INChistory →CL A6.96%$18M68.3K
6LDOSLEIDOS HOLDINGS INChistory →COM6.30%$16M184.7K
7ASAIYSENDAS DISTRIBUIDORA S Ahistory →SPON ADS6.29%$16M1.00M
8BALLBALL CORPhistory →COM6.13%$16M325.0K
9AMZNAMAZON COM INChistory →COM5.95%$15M135.0K
10OLNOLIN CORPhistory →COM PAR $15.44%$14M325.0K
11DOORUSDMASONITE INTL CORPhistory →COM4.87%$12M175.0K
12RENAISSANCERE HLDGS LTDCOM3.49%$9M63.8K
13CONSTELLIUM SECL A SHS3.17%$8M800.0K
14GOOGLALPHABET INChistory →CAP STK CL A2.51%$6M67.3K
15NEOGNEOGEN CORPhistory →COM1.91%$5M350.0K
16CRCCANADIAN NAT RES LTDhistory →COM1.82%$5M100.0K
17CFGCITIZENS FINL GROUP INChistory →COM1.34%$3M100.0K
18JELDJELD-WEN HLDG INChistory →COM1.20%$3M350.0K
19FANGDIAMONDBACK ENERGY INCCOM0.74%$2M15.7K
20DIGIMARC CORP NEWCOM0.37%$936,00069.1K

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 ↗.