SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Soapstone Management L.P.

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

Reported Value
$216M
Q3 2023
Positions
18
Filings on Record
30
2019–present window
Filed
Nov 14, 2023
original filing

Summary

Soapstone Management L.P. reported $216M in U.S.-listed holdings across 18 positions for Q3 2023.

Its largest position, BALL, represents 10.9% of the portfolio.

Compared with Q2 2023, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+14.8%
vs prior filed quarter
Top-10 Concentration
+75.6%
share of reported value
Largest Position
+10.9%
Ball
New / Exited
1 / 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. 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: 87.7%Other: 7.8%ADR: 4.5%
  • Common Stock · 87.7% · $190M
  • Other · 7.8% · $17M
  • ADR · 4.5% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KVUEKENVUE INCNEW+595.0K595.0K+$12M$12M
KNFKNIFE RIVER CORPADDED+229.9K435.0K+$12M$21M
FTREFORTREA HLDGS INCADDED+183.5K350.0K+$4M$10M
CRCCANADIAN NAT RES LTDSOLD OUT−100.0K0−$6M$0
SCHWSCHWAB CHARLES CORPTRIMMED−175.0K150.0K−$10M$8M
BALLBALL CORPADDED+133.3K475.0K+$4M$24M
CEGCONSTELLATION ENERGY CORPTRIMMED−100.0K175.0K−$6M$19M
JELDJELD-WEN HLDG INCTRIMMED−143.3K498.7K−$5M$7M

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

Holdings — Q3 2023

18 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BALLBALL CORPhistory →COM10.93%$24M475.0K
2KNFKNIFE RIVER CORPhistory →COMMON STOCK9.82%$21M435.0K
3CEGCONSTELLATION ENERGY CORPhistory →COM8.83%$19M175.0K
4OLNOLIN CORPhistory →COM PAR $17.51%$16M325.0K
5LDOSLEIDOS HOLDINGS INChistory →COM7.49%$16M175.7K
6NEOGNEOGEN CORPhistory →COM7.00%$15M816.6K
7CONSTELLIUM SECL A SHS6.73%$15M800.0K
8AMZNAMAZON COM INChistory →COM6.17%$13M105.0K
9EQHEQUITABLE HLDGS INChistory →COM5.58%$12M425.0K
10KVUEKENVUE INChistory →COM5.52%$12M595.0K
11FTREFORTREA HLDGS INChistory →COMMON STOCK4.63%$10M350.0K
12ASAIYSENDAS DISTRIBUIDORA S Ahistory →SPON ADS4.52%$10M803.0K
13SCHWSCHWAB CHARLES CORPhistory →COM3.81%$8M150.0K
14BLDRBUILDERS FIRSTSOURCE INChistory →COM3.45%$7M60.0K
15JELDJELD-WEN HLDG INChistory →COM3.08%$7M498.7K
16DOORUSDMASONITE INTL CORPhistory →COM2.64%$6M61.3K
17CFGCITIZENS FINL GROUP INChistory →COM1.24%$3M100.0K
18DIGIMARC CORP NEWCOM1.04%$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 ↗.