Soapstone Management L.P.

BETHESDA, MD · CIK 1726948 · 13F filing filed 2023-08-14

SEC-registered investment adviser since 2016 · limited partnership

As an employer

$223.9m reported value +0.0% vs Q1 2023

18positions

76.5%in top 10

2 new 6 added 5 reduced 1 sold out vs Q1 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	CONSTELLATION ENERGY CORP COM CEG	CEG	275,000	$25.2m11.24%	11.24%	Reduced -50.0k	-50,000 -15.4%
2	BALL CORP COM BALL	BALL	341,682	$19.9m8.88%	8.88%	Added +16.7k	+16,682 5.1%
3	SCHWAB CHARLES CORP COM SCHW	SCHW	325,000	$18.4m8.23%	8.23%	Unchanged
4	NEOGEN CORP COM NEOG	NEOG	825,000	$17.9m8.01%	8.01%	Reduced -175.0k	-175,000 -17.5%
5	OLIN CORP COM PAR $1 OLN	OLN	337,700	$17.4m7.75%	7.75%	Added +27.7k	+27,700 8.9%
6	LEIDOS HOLDINGS INC COM LDOS	LDOS	185,000	$16.4m7.31%	7.31%	Added +70.2k	+70,250 61.2%
7	AMAZON COM INC COM AMZN	AMZN	120,000	$15.6m6.99%	6.99%	Reduced -42.5k	-42,500 -26.1%
8	CONSTELLIUM SE CL A SHS CSTM	CSTM	850,000	$14.6m6.53%	6.53%	Added +50.0k	+50,000 6.2%
9	EQUITABLE HLDGS INC COM EQH	EQH	525,000	$14.3m6.37%	6.37%	Added +75.0k	+75,000 16.7%
10	SENDAS DISTRIBUIDORA S A SPON ADS ASAIY	ASAIY	802,968	$11.6m5.17%	5.17%	Unchanged
11	JELD-WEN HLDG INC COM JELD	JELD	641,958	$11.3m5.03%	5.03%	Added +142.0k	+141,958 28.4%
12	KNIFE RIVER CORP COMMON STOCK KNF	KNF	205,137	$8.9m3.98%	3.98%	New
13	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	62,500	$8.5m3.80%	3.80%	Reduced -197.5k	-197,500 -76.0%
14	MASONITE INTL CORP COM DOOR	DOOR	78,750	$8.1m3.60%	3.60%	Reduced -70.0k	-70,000 -47.1%
15	FORTREA HLDGS INC COMMON STOCK FTRE	FTRE	166,497	$5.7m2.53%	2.53%	New
16	CANADIAN NAT RES LTD COM CNQ	CNQ	100,000	$5.6m2.51%	2.51%	Unchanged
17	CITIZENS FINL GROUP INC COM CFG	CFG	100,000	$2.6m1.16%	1.16%	Unchanged
18	DIGIMARC CORP NEW COM COM		69,114	$2.0m0.91%	0.91%	Unchanged

Security	Ticker	Shares held before	Value then
CACI INTL INC CACI	CACI	38,750	$11.5m38.8k shares