Soapstone Management L.P.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Soapstone Management L.P. reported 18 stock positions worth $149.9 million. Its top holding was HDFC Bank Ltd.-ADR (HDB) at 10.1% of the portfolio, followed by Amazon.com (AMZN, 9.7%) and Kenvue (KVUE, 9.1%). Compared with Q1 2024, it opened 3 new positions, sold out of 1, added to 3 and reduced 9. The biggest buy was Neogen (NEOG, shares +365%) and the biggest sale an exit from Vestis (VSTS).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0001726948
- Portfolio Value
- $149.9M (Q2 2024)
- SEC Filing
- 0001398344-24-014690 ↗ filed Aug 14, 2024
Holdings Value
Holdings 18 stocks · $149.9M
| HDB HDFC Bank Ltd.-ADR | 10.09% | 235,000 | $15.1M | Add +20.5% |
| AMZN Amazon.com Inc. | 9.67% | 75,000 | $14.5M | Reduce -7.7% |
| KVUE Kenvue Inc. | 9.10% | 750,000 | $13.6M | Reduce -14.3% |
| CSTM Constellium SE | 9.01% | 716,223 | $13.5M | Reduce -22.6% |
| NEOG Neogen Corp. | 8.19% | 785,000 | $12.3M | Add +365.2% |
| KNF Knife River Corp. | 7.22% | 154,272 | $10.8M | Add +2.9% |
| OLN Olin Corp. | 7.08% | 225,000 | $10.6M | Reduce -4.3% |
| LDOS Leidos Holdings Inc. | 6.69% | 68,750 | $10.0M | Reduce -54.2% |
| ASAIY Sendas Distribuidora SA | 6.20% | 1,000,000 | $9.3M | No change |
| SOLV Solventum Corp. | 4.96% | 140,476 | $7.4M | New |
| BLDR Builders Firstsource Inc. | 4.62% | 50,000 | $6.9M | No change |
| SILA Sila Realty Trust Inc. | 3.53% | 250,000 | $5.3M | New |
| EQH Equitable Holdings Inc. | 3.24% | 118,750 | $4.8M | Reduce -40.6% |
| JELD Jeld-Wen Holding Inc. | 3.10% | 344,561 | $4.6M | Reduce -22.3% |
| CEG Constellation Energy | 2.67% | 20,000 | $4.0M | Reduce -60.0% |
| CFG Citizens Financial Group | 2.40% | 100,000 | $3.6M | No change |
| MTN Vail Resorts Inc. | 1.20% | 10,000 | $1.8M | New |
| SCHW Schwab (charles) Corp. | 1.04% | 21,250 | $1.6M | Reduce -15.0% |
Portfolio Sells Q1 2024 → Q2 2024
| VSTS Vestis Corp. | Sold out | 0.00% | −5.11 |
| LDOS Leidos Holdings Inc. | Reduce -54.2% | 6.69% | −4.28 |
| CEG Constellation Energy | Reduce -60.0% | 2.67% | −2.49 |
| CSTM Constellium SE | Reduce -22.6% | 9.01% | −2.41 |
| JELD Jeld-Wen Holding Inc. | Reduce -22.3% | 3.10% | −2.16 |
| KVUE Kenvue Inc. | Reduce -14.3% | 9.10% | −1.38 |
| EQH Equitable Holdings Inc. | Reduce -40.6% | 3.24% | −1.01 |
| OLN Olin Corp. | Reduce -4.3% | 7.08% | −0.63 |
| SCHW Schwab (charles) Corp. | Reduce -15.0% | 1.04% | +0.04 |
| AMZN Amazon.com Inc. | Reduce -7.7% | 9.67% | +1.49 |
Portfolio Buys Q1 2024 → Q2 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 13 | $137.5M | AGI, PSA, COO, HDB, SCHW |
| Q1 2026 | 12 | $140.4M | AGI, PSA, CSTM, TFX, CFG |
| Q4 2025 | 13 | $135.7M | AGI, CSTM, PSA, CFG, MTN |
| Q3 2025 | 13 | $147.3M | CSTM, CFG, PSA, AWK, AMZN |
| Q2 2025 | 15 | $150.7M | CFG, CSTM, AMZN, PSA, AWK |
| Q1 2025 | 14 | $128.0M | AMZN, AWK, PSA, CSTM, MTN |
| Q4 2024 | 15 | $106.4M | AMZN, CSTM, MTN, HDB, AWK |
| Q3 2024 | 15 | $120.3M | AMZN, CSTM, HDB, MTN, NEM |
| Q2 2024 | 18 | $149.9M | HDB, AMZN, KVUE, CSTM, NEOG |
| Q1 2024 | 16 | $179.2M | CSTM, LDOS, KVUE, ASAIY, AMZN |