Soapstone Management L.P.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Soapstone Management L.P. reported 15 stock positions worth $120.3 million. Its top holding was Amazon.com (AMZN) at 13.2% of the portfolio, followed by Constellium (CSTM, 12.1%) and HDFC Bank Ltd.-ADR (HDB, 10.9%). Compared with Q2 2024, it opened 2 new positions, sold out of 5, added to 4 and reduced 7. The biggest buy was Vail Resorts (MTN, shares +588%) and the biggest sale an exit from Kenvue (KVUE).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0001726948
- Portfolio Value
- $120.3M (Q3 2024)
- SEC Filing
- 0001398344-24-020867 ↗ filed Nov 14, 2024
Holdings Value
Holdings 15 stocks · $120.3M
| AMZN Amazon.com Inc. | 13.17% | 85,000 | $15.8M | Add +13.3% |
| CSTM Constellium SE | 12.10% | 895,000 | $14.6M | Add +25.0% |
| HDB HDFC Bank Ltd.-ADR | 10.92% | 210,000 | $13.1M | Reduce -10.6% |
| MTN Vail Resorts Inc. | 9.96% | 68,750 | $12.0M | Add +587.5% |
| NEM Newmont Corp. | 7.78% | 175,000 | $9.4M | New |
| ASAIY Sendas Distribuidora SA | 7.72% | 1,350,000 | $9.3M | Add +35.0% |
| OLN Olin Corp. | 7.38% | 185,000 | $8.9M | Reduce -17.8% |
| NEOG Neogen Corp. | 6.62% | 473,613 | $8.0M | Reduce -39.7% |
| LDOS Leidos Holdings Inc. | 4.74% | 35,000 | $5.7M | Reduce -49.1% |
| BLDR Builders Firstsource Inc. | 4.43% | 27,500 | $5.3M | Reduce -45.0% |
| CEG Constellation Energy | 4.32% | 20,000 | $5.2M | No change |
| EQH Equitable Holdings Inc. | 3.50% | 100,000 | $4.2M | Reduce -15.8% |
| CFG Citizens Financial Group | 3.24% | 95,000 | $3.9M | Reduce -5.0% |
| GLD SPDR Gold Shares | 2.97% | 14,719 | $3.6M | New |
| SCHW Schwab (charles) Corp. | 1.14% | 21,250 | $1.4M | No change |
Portfolio Sells Q2 2024 → Q3 2024
| KVUE Kenvue Inc. | Sold out | 0.00% | −9.10 |
| KNF Knife River Corp. | Sold out | 0.00% | −7.22 |
| SOLV Solventum Corp. | Sold out | 0.00% | −4.96 |
| SILA Sila Realty Trust Inc. | Sold out | 0.00% | −3.53 |
| JELD Jeld-Wen Holding Inc. | Sold out | 0.00% | −3.10 |
| LDOS Leidos Holdings Inc. | Reduce -49.1% | 4.74% | −1.95 |
| NEOG Neogen Corp. | Reduce -39.7% | 6.62% | −1.57 |
| BLDR Builders Firstsource Inc. | Reduce -45.0% | 4.43% | −0.19 |
| EQH Equitable Holdings Inc. | Reduce -15.8% | 3.50% | +0.26 |
| OLN Olin Corp. | Reduce -17.8% | 7.38% | +0.30 |
| HDB HDFC Bank Ltd.-ADR | Reduce -10.6% | 10.92% | +0.84 |
| CFG Citizens Financial Group | Reduce -5.0% | 3.24% | +0.84 |
Portfolio Buys Q2 2024 → Q3 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 |