Soapstone Management L.P. 13F annual report
Soapstone Management L.P. is an investment fund managing more than $236 million ran by Jed Nussdorf. There are currently 18 companies in Mr. Nussdorf’s portfolio. The largest investments include Builders Firstsource Inc and Equitable Inc, together worth $44.1 million.
$236 million Assets Under Management (AUM)
As of 8th August 2022, Soapstone Management L.P.’s top holding is 457,500 shares of Builders Firstsource Inc currently worth over $24.6 million and making up 10.4% of the portfolio value.
Relative to the number of outstanding shares of Builders Firstsource Inc, Soapstone Management L.P. owns more than approximately 0.1% of the company.
In addition, the fund holds 750,000 shares of Equitable Inc worth $19.6 million, whose value fell 10.6% in the past six months.
The third-largest holding is Caci International worth $19.4 million and the next is Schwab Charles Corp worth $19 million, with 300,000 shares owned.
Currently, Soapstone Management L.P.'s portfolio is worth at least $236 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Soapstone Management L.P.
The Soapstone Management L.P. office and employees reside in Chevy Chase, Maryland. According to the last 13-F report filed with the SEC, Jed Nussdorf serves as the Managing Member of the General Partner at Soapstone Management L.P..
Recent trades
In the most recent 13F filing, Soapstone Management L.P. revealed that it had opened a new position in
Caci International and bought 68,750 shares worth $19.4 million.
This means they effectively own approximately 0.1% of the company.
Caci International makes up
37.3%
of the fund's Technology sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Schwab Charles Corp by buying
175,000 additional shares.
This makes their stake in Schwab Charles Corp total 300,000 shares worth $19 million.
On the other hand, there are companies that Soapstone Management L.P. is getting rid of from its portfolio.
Soapstone Management L.P. closed its position in Truist Finl Corp on 15th August 2022.
It sold the previously owned 250,000 shares for $14.7 million.
Jed Nussdorf also disclosed a decreased stake in Builders Firstsource Inc by 0.5%.
This leaves the value of the investment at $24.6 million and 457,500 shares.
One of the smallest hedge funds
The two most similar investment funds to Soapstone Management L.P. are Wittenberg Investment Management, Inc and Conrad N. Hilton Foundation. They manage $236 million and $236 million respectively.
Jed Nussdorf investment strategy
Soapstone Management L.P.’s portfolio is diversified across 6 sectors.
Currently, their heaviest sector is Materials — making up 23.8% of
the total portfolio value.
The fund focuses on investments in the United States as
50.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
39% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $25.5 billion.
The complete list of Soapstone Management L.P. trades based on 13F SEC filings
These positions were updated on August 15th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Builders Firstsource Inc |
47.43%
457,500
|
$24,568,000 | 10.41% |
| Equitable Holdings Inc |
33.33%
750,000
|
$19,553,000 | 8.28% |
| Caci International Inc. |
Opened
68,750
|
$19,372,000 | 8.20% |
| Schwab Charles Corp |
140.00%
300,000
|
$18,954,000 | 8.03% |
| Constellation Energy Corp |
Opened
328,500
|
$18,810,000 | 7.97% |
| Leidos Holdings Inc |
61.57%
185,000
|
$18,631,000 | 7.89% |
| Masonite Intl Corp |
72.45%
195,000
|
$14,982,000 | 6.35% |
| Amazon.com Inc. |
11,000.00%
138,750
|
$14,737,000 | 6.24% |
| Truist Finl Corp |
Closed
250,000
|
$14,663,000 | |
| Olin Corp. |
22.00%
305,000
|
$14,115,000 | 5.98% |
| Alphabet Inc |
64.52%
6,375
|
$13,893,000 | 5.88% |
| Sendas Distribuidora S A |
Opened
1,000,000
|
$13,590,000 | 5.76% |
| Northrop Grumman Corp. |
Closed
37,500
|
$13,506,000 | |
| Constellium SE |
32.61%
800,000
|
$10,568,000 | 4.48% |
| Renaissancere Hldgs Ltd |
14.89%
67,500
|
$10,555,000 | 4.47% |
| Beacon Roofing Supply Inc |
Closed
176,565
|
$8,433,000 | |
| Jeld-wen Hldg Inc |
6.55%
525,000
|
$7,660,000 | 3.24% |
| Ball Corp. |
Opened
100,000
|
$6,877,000 | 2.91% |
| Adient plc |
Closed
150,000
|
$6,218,000 | |
| Diamondback Energy Inc |
Opened
38,750
|
$4,695,000 | 1.99% |
| Citizens Finl Group Inc |
80.00%
100,000
|
$3,569,000 | 1.51% |
| AdvanSix Inc |
Closed
28,380
|
$1,128,000 | |
| Digimarc Corp New |
Opened
69,114
|
$977,000 | 0.41% |
| No transactions found | |||
| Showing first 500 out of 23 holdings | |||
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