Soapstone Management L.P.

1. Portfolio Overview

Soapstone Management L.P. has undergone a significant transformation in the quarter ending September 30, 2025, characterized by a drastic reduction in portfolio size and a shift toward a highly concentrated strategy. The total portfolio value plummeted by 59.7%, decreasing from $150.68 million to $60.74 million. This reduction was not solely due to market performance but was driven largely by a substantial divestment strategy. The firm liquidated 11 positions entirely,...