Managers / Q3 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 $120M in U.S.-listed holdings across 15 positions for Q3 2024.
Its largest position, AMZN, represents 13.2% of the portfolio.
Compared with Q2 2024, the fund opened 2 new positions and exited 5.
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. 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 · 66.3% · $80M
- ADR · 18.6% · $22M
- Other · 12.1% · $15M
- ETP · 3.0% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NEMNEWMONT CORP | NEW | +175.0K | 175.0K | +$9M | $9M |
| GQ9SPDR GOLD TR | NEW | +14.7K | 14.7K | +$4M | $4M |
| MTNVAIL RESORTS INC | ADDED | +58.8K | 68.8K | +$10M | $12M |
| KVUEKENVUE INC | SOLD OUT | −750.0K | 0 | −$14M | $0 |
| KNFKNIFE RIVER CORP | SOLD OUT | −154.3K | 0 | −$11M | $0 |
| SOLVSOLVENTUM CORP | SOLD OUT | −140.5K | 0 | −$7M | $0 |
| SILA REALTY TRUST INC | SOLD OUT | −250.0K | 0 | −$5M | $0 |
| JELDJELD-WEN HLDG INC | SOLD OUT | −344.6K | 0 | −$5M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | AMZNAMAZON COM INChistory → | COM | 13.17% | $16M | 85.0K |
| 2 | CONSTELLIUM SE | CL A SHS | 12.10% | $15M | 895.0K |
| 3 | HDBHDFC BANK LTDhistory → | SPONSORED ADS | 10.92% | $13M | 210.0K |
| 4 | MTNVAIL RESORTS INChistory → | COM | 9.96% | $12M | 68.8K |
| 5 | NEMNEWMONT CORPhistory → | COM | 7.78% | $9M | 175.0K |
| 6 | ASAIYSENDAS DISTRIBUIDORA S Ahistory → | SPON ADS | 7.72% | $9M | 1.35M |
| 7 | OLNOLIN CORPhistory → | COM PAR $1 | 7.38% | $9M | 185.0K |
| 8 | NEOGNEOGEN CORPhistory → | COM | 6.62% | $8M | 473.6K |
| 9 | LDOSLEIDOS HOLDINGS INChistory → | COM | 4.74% | $6M | 35.0K |
| 10 | BLDRBUILDERS FIRSTSOURCE INChistory → | COM | 4.43% | $5M | 27.5K |
| 11 | CEGCONSTELLATION ENERGY CORPhistory → | COM | 4.32% | $5M | 20.0K |
| 12 | EQHEQUITABLE HLDGS INChistory → | COM | 3.49% | $4M | 100.0K |
| 13 | CFGCITIZENS FINL GROUP INChistory → | COM | 3.24% | $4M | 95.0K |
| 14 | GQ9SPDR GOLD TRhistory → | GOLD SHS | 2.97% | $4M | 14.7K |
| 15 | SCHWSCHWAB CHARLES CORPhistory → | COM | 1.14% | $1M | 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 ↗.