Managers / Q2 2024 · view latest →
Soapstone Management L.P.
CIK 0001726948 · 7500 OLD GEORGETOWN ROAD, SUITE 200, BETHESDA, MD, 20814 · 212-319-1438
Summary
Soapstone Management L.P. reported $150M in U.S.-listed holdings across 18 positions for Q2 2024.
Its largest position, HDB, represents 10.1% of the portfolio.
Compared with Q1 2024, the fund opened 3 new positions and exited 1.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 80.2% · $120M
- ADR · 16.3% · $24M
- Other · 3.5% · $5M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SOLVSOLVENTUM CORP | NEW | +140.5K | 140.5K | +$7M | $7M |
| SILA REALTY TRUST INC | NEW | +250.0K | 250.0K | +$5M | $5M |
| MTNVAIL RESORTS INC | NEW | +10.0K | 10.0K | +$2M | $2M |
| NEOGNEOGEN CORP | ADDED | +616.3K | 785.0K | +$10M | $12M |
| VSTSVESTIS CORPORATION | SOLD OUT | −475.0K | 0 | −$9M | $0 |
| CEGCONSTELLATION ENERGY CORP | TRIMMED | −30.0K | 20.0K | −$5M | $4M |
| LDOSLEIDOS HOLDINGS INC | TRIMMED | −81.3K | 68.8K | −$10M | $10M |
| EQHEQUITABLE HLDGS INC | TRIMMED | −81.3K | 118.8K | −$3M | $5M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HDBHDFC BANK LTDhistory → | SPONSORED ADS | 10.09% | $15M | 235.0K |
| 2 | AMZNAMAZON COM INChistory → | COM | 9.67% | $14M | 75.0K |
| 3 | KVUEKENVUE INChistory → | COM | 9.10% | $14M | 750.0K |
| 4 | CSTMCONSTELLIUM SEhistory → | CL A SHS | 9.01% | $14M | 716.2K |
| 5 | NEOGNEOGEN CORPhistory → | COM | 8.19% | $12M | 785.0K |
| 6 | KNFKNIFE RIVER CORPhistory → | COMMON STOCK | 7.22% | $11M | 154.3K |
| 7 | OLNOLIN CORPhistory → | COM PAR $1 | 7.08% | $11M | 225.0K |
| 8 | LDOSLEIDOS HOLDINGS INChistory → | COM | 6.69% | $10M | 68.8K |
| 9 | ASAIYSENDAS DISTRIBUIDORA S Ahistory → | SPON ADS | 6.20% | $9M | 1.00M |
| 10 | SOLVSOLVENTUM CORPhistory → | COM SHS | 4.96% | $7M | 140.5K |
| 11 | BLDRBUILDERS FIRSTSOURCE INChistory → | COM | 4.62% | $7M | 50.0K |
| 12 | SILA REALTY TRUST INC | COMMON STOCK | 3.53% | $5M | 250.0K |
| 13 | EQHEQUITABLE HLDGS INChistory → | COM | 3.24% | $5M | 118.8K |
| 14 | JELDJELD-WEN HLDG INChistory → | COM | 3.10% | $5M | 344.6K |
| 15 | CEGCONSTELLATION ENERGY CORPhistory → | COM | 2.67% | $4M | 20.0K |
| 16 | CFGCITIZENS FINL GROUP INChistory → | COM | 2.40% | $4M | 100.0K |
| 17 | MTNVAIL RESORTS INChistory → | COM | 1.20% | $2M | 10.0K |
| 18 | SCHWSCHWAB CHARLES CORPhistory → | COM | 1.04% | $2M | 21.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $140M | 12 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $136M | 13 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $147M | 13 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $151M | 15 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $128M | 14 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $106M | 15 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $120M | 15 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $150M | 18 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $179M | 16 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $183M | 19 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $216M | 18 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $224M | 18 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $224M | 17 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $237M | 18 | Jan 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $256M | 21 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $236M | 18 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $219M | 15 | May 6, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $217M | 18 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $238M | 17 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $249M | 20 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $225M | 19 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $232M | 20 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $204M | 20 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $174M | 17 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $116M | 15 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $157M | 16 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $184M | 17 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $184M | 18 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $205M | 19 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $166M | 21 | Feb 14, 2019 | 13F-HR | changes · 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 ↗.