Soapstone Management L.P.
Soapstone Management L.P. is a Maryland-based hedge fund manager founded in 2005 and headquartered in Chevy Chase, MD. The firm manages a single private pooled investment fund, Soapstone Capital LP, and provides investment management services exclusively to qualified individuals and entities. As of 2024, Soapstone Management has approximately 2-4 employees and is led by Jed Nussdorf, who serves as Limited Partner, Managing Member, and Chief Compliance Officer. The firm is a registered investment adviser with the SEC.
Investment Strategy
Soapstone Management L.P. pursues a fundamental, research-driven approach to security selection, aiming to achieve superior risk-adjusted returns relative to the S&P 500 index. The fund primarily invests in equity securities, including derivatives and equity-like instruments, across both developed and emerging markets. Their portfolio demonstrates high concentration in their top 10 holdings, with a significant focus on public equities and a willingness to use derivatives for portfolio management.
Latest 13F Filing Activity
Soapstone Management L.P. filed their most recent 13F report on Jun 30, 2025 disclosing 15 equity positions with a total 13F market value of $151M. The fund increased holdings in Citizens Finl Group Inc., Constellium SE, Saia Inc. among other positions. Soapstone Management L.P. reduced exposure to HDFC Bank LTD, Newmont Corp., Constellation Energy Corp. among others.
Top Holdings
Equity Positions (15)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CFG | CITIZENS FINL GROUP INC | 17.08% | $25.7M | 575,000 | $40.41 | $44.75 | +$13.4M |
C CSTM | CONSTELLIUM SE | 15.68% | $23.6M | 1,776,559 | $14.42 | $13.30 | +$7.7M |
A AMZN | AMAZON COM INC | 14.56% | $21.9M | 100,000 | $144.72 | $219.39 | +$2.9M |
P PSA | PUBLIC STORAGE OPER CO | 12.66% | $19.1M | 65,000 | $298.27 | $293.42 | +$3.0M |
A AWK | AMERICAN WTR WKS CO INC NEW | 10.59% | $15.9M | 114,650 | $130.71 | $139.11 | -$2.5M |