{
  "crd_number": 162936,
  "slug": "soapstone-management-l-p-bethesda-md-162936",
  "primary_business_name": "SOAPSTONE MANAGEMENT L.P.",
  "legal_name": "SOAPSTONE MANAGEMENT L.P.",
  "dbas": [],
  "city": "Bethesda",
  "state": "MD",
  "country": "United States",
  "cbsa_code": "47900",
  "metro": {
    "cbsa_code": "47900",
    "common_name": "Washington",
    "msa_name": "Washington-Arlington-Alexandria, DC-VA-MD-WV",
    "path": "/advisors/dc/washington"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2016-07-11",
  "years_registered": 10,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 610062541.0,
  "raum_discretionary": 610062541.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 4,
  "advisory_employees": 4,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 610062541.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "MD"
  ],
  "websites": [
    "https://linkedin.com/COMPANY/SOAPSTONE-MANAGEMENT-LP",
    "https://soapstonecapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/162936",
  "city_as_filed": "BETHESDA",
  "url": "https://advisorcensus.com/firm/soapstone-management-l-p-bethesda-md-162936",
  "display_name": "Soapstone Management L.P.",
  "summary": "Soapstone Management L.P. is an SEC-registered investment advisory firm in Bethesda, MD, registered since 2016, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Soapstone Management L.P. (CRD 162936): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Soapstone Management L.P. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Soapstone Management L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Soapstone Management L.P. located?",
      "a": "Soapstone Management L.P.'s principal office is in Bethesda, MD, according to its Form ADV."
    },
    {
      "q": "Is Soapstone Management L.P. registered with the SEC or a state?",
      "a": "Soapstone Management L.P. is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 162936."
    },
    {
      "q": "How much does Soapstone Management L.P. manage?",
      "a": "Soapstone Management L.P. reports $610,062,541 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have Soapstone Management L.P.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Soapstone Management L.P.: Regulatory assets under management: $519,815,822 in the October 2021 data and $610,062,541 in the October 2026 data, up 17%. Total employees: 2 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Soapstone Management L.P. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1)."
    },
    {
      "q": "Does Soapstone Management L.P. report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/162936"
    },
    {
      "q": "Does Soapstone Management L.P. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"The minimum initial investment in the Fund is $5,000,000, subject to reduction at the discretion of the general partner of the Fund .\""
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 519815822.0,
      "total_employees": 2,
      "filing_date": "2021-03-10"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 577298815.0,
      "total_employees": 2,
      "filing_date": "2022-03-11"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 487351050.0,
      "total_employees": 2,
      "filing_date": "2023-03-30"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 534034830.0,
      "total_employees": 2,
      "filing_date": "2024-03-25"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 580555032.0,
      "total_employees": 4,
      "filing_date": "2025-03-19"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 610062541.0,
      "total_employees": 4,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$5,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $5,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The minimum initial investment in the Fund is $5,000,000, subject to reduction at the discretion of the general partner of the Fund ."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 5000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The minimum initial investment in the Fund is $5,000,000, subject to reduction at the discretion of the general partner of the Fund ."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/soapstone-management-l-p-bethesda-md-162936.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 610062541.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/162936",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}