Equal-WT
WhaleScore 2.0
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SOAPSTONE MANAGEMENT L.P.
BETHESDA MD
Investment Advisor
Hedge Fund
Soapstone Management is based out of Bethesda. Soapstone Management is a hedge fund with 1 clients and discretionary assets under management (AUM) of $580,555,032 (Form ADV from 2025-03-19). Their last reported 13F filing for Q1 2025 included $127,999,776 in managed 13F securities
and a top 10 holdings concentration of 93.3%. Soapstone Management's largest holding is Amazon.com Inc with shares held of 100,000. Whalewisdom has at least 30 13F filings
Business Description
Soapstone was formed in September 2005. Jed Nussdorf is the principal owner of Soapstone. Soapstone Management L.P. is located at 7500 Old Georgetown Road, Suite 200 Bethesda, MD 20814. Their website is www.soapstonecapital.com and their phone number is (212) 319-1438.
Soapstone is registered as an investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training. Additional information about Soapstone is also available on the SEC’s website at www.adviserinfo.sec.gov.
Investment Strategy
Soapstone's investment objective is to produce risk-adjusted returns exceeding the S&P 500 Index. The fund primarily invests in equity securities, including derivatives, across developed and emerging markets, maintaining a concentrated long portfolio and a diversified short portfolio. Soapstone targets specific industry verticals like financial services, consumer staples, industrials, and TMT (technology, media, and telecommunications) to enhance focus and develop domain expertise.
For long investments, Soapstone seeks businesses with sustainable competitive advantages and capable management. They employ a research-driven process to identify investments with the potential to compound value at an attractive internal rate of return, without relying on multiple expansion, and only when available at a discount to intrinsic value. Risk management is crucial, with a focus on security, sector, geographic, and thematic exposures, and exiting investments when the investment thesis changes unfavorably.
Owners
- GOTHAM ADVISERS, LLC - LIMITED PARTNER
- NUSSDORF, JED, FRANCO - LIMITED PARTNER, MANAGING MEMBER OF THE GENERAL PARTNER, CHIEF COMPLIANCE OFFICER Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
(Subscription Required)
2025-03-31
Top Buys (13F)
| Name | % Change |
|---|---|
| PSA Public Storage, Inc | 12.57% |
| CFG Citizens Financial G | 5.49% |
| AWK American Water Works | 3.73% |
| AMZN Amazon.com Inc | -0.34% |
| CSTM Constellium SE | -2.43% |
2025-03-31
Top Sells (13F)
| Name | % Change |
|---|---|
| DAR Darling Ingredients | 3.44% |
| CEG Constellation Energy | 2.6% |
| HDB HDFC Bank Ltd. | 2.02% |
| NEM Newmont Corp | 1.43% |
| AEM Agnico Eagle Mines L | 0.93% |
2025-03-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| AMZN Amazon.com Inc | 14.86% |
| AWK American Water Works | 14.41% |
| PSA Public Storage, Inc | 12.57% |
| CSTM Constellium SE | 12.43% |
| MTN Vail Resorts Inc | 10.16% |
2025-03-31
13F Activity
| Market Value | $128m, Prior: $106m |
| Inflows (Outflows) as % of Total MV | +17.7844% |
| New Purchases | 1 stocks |
| Added To | 5 stocks |
| Sold out of | 2 stocks |
| Reduced holdings in | 4 stocks |
| Top 10 Holdings % | 93.3% |
| Turnover %[1] | 18.75% |
| Turnover Alt %[2] | 8.16% |
| Time Held Top 20 | 11 quarters |
| Time Held Top 10 | 5.9 quarters |
| Time Held All | 11 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2025-03-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2025-03-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2025-03-31