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Soapstone Management L.P.

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13F filer, CIK 1726948, BETHESDA, MD

Soapstone Management L.P. reported $127,999,776 across 14 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 93.3% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-009640

Period
2025-03-31
Reported value
$128M
Holdings
14
Top 10 weight
93.3%
New
1
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PSAnew+53,750$16.1M
CFGadded+200,000$8.19M
AMZNadded+26,250$4.99M
AWKadded+33,750$4.98M
MTNadded+2,500$400K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DARexited-108,750-$3.66M
NEMreduced-46,250-$2.23M
AEMreduced-18,750-$2.03M
CEGreduced-9,250-$1.87M
EQHexited-18,750-$885K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001398344-25-009640, largest first. % of portfolio is the value over $127,999,776, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 85,000 shares; 2024Q4: 73,750 shares; 2025Q1: 100,000 shares 100,000$19M14.86%+26,250Timeline
AWKAMERICAN WTR WKS CO INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 91,250 shares; 2025Q1: 125,000 shares 125,000$18.4M14.41%+33,750Timeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 53,750 shares 53,750$16.1M12.57%newTimeline
CSTMCONSTELLIUM SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 895,000 shares; 2024Q4: 1,539,957 shares; 2025Q1: 1,577,199 shares 1,577,199$15.9M12.43%+37,242Timeline
MTNVAIL RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,750 shares; 2024Q4: 78,750 shares; 2025Q1: 81,250 shares 81,250$13M10.16%+2,500Timeline
CFGCITIZENS FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,000 shares; 2024Q4: 100,000 shares; 2025Q1: 300,000 shares 300,000$12.3M9.6%+200,000Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,000 shares; 2024Q4: 185,000 shares; 2025Q1: 175,000 shares 175,000$11.6M9.08%-10,000Timeline
LDOSLEIDOS HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,000 shares; 2024Q4: 37,500 shares; 2025Q1: 37,500 shares 37,500$5.06M3.95%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 58,750 shares; 2025Q1: 40,000 shares 40,000$4.34M3.39%-18,750Timeline
OLNOLIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 185,000 shares; 2024Q4: 150,000 shares; 2025Q1: 150,000 shares 150,000$3.64M2.84%0Timeline
NEMNEWMONT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,000 shares; 2024Q4: 115,000 shares; 2025Q1: 68,750 shares 68,750$3.32M2.59%-46,250Timeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 21,750 shares; 2025Q1: 12,500 shares 12,500$2.52M1.97%-9,250Timeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,500 shares; 2024Q4: 15,000 shares; 2025Q1: 15,000 shares 15,000$1.87M1.46%0Timeline
NEOGNEOGEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 473,613 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares 100,000$867K0.68%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
DARDARLING INGREDIENTS INC108,750$3.66Mshares
EQHEQUITABLE HLDGS INC18,750$885Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001398344-25-009640 base2025-05-15acceptance time not in the bulk data set