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David Greenspan Slate Path Capital
AUM
$7.22B
Turnover
47.27%
1-Year Est. Return
110.75%
David Greenspan is the founder of Slate Path Capital, a long/short equity firm with roots in the Tiger Management network. The firm conducts fundamental research across sectors with an emphasis on differentiated views rather than index hugging. Greenspan’s filings attract attention among investors who follow Tiger Cub-style managers.
This Fund
S&P 500
This Quarter Est. Return
+40.31%
1 Year Est. Return
+110.75%
3 Year Est. Return
+393.62%
5 Year Est. Return
+449.87%
10 Year Est. Return
+5,767.8%
AUM
$7.22B
AUM Growth
+$490M
(+7.3%)
Cap. Flow
-$1.6B
Cap. Flow % of AUM
Cap. Flow %
-22.08%
Top 10 Holdings %
Top 10 Hldgs %
55.28%
Holding
55
New
11
Increased
12
Reduced
7
Closed
15
Avg Time Held
0.8
years
Top 10 Avg Time Held
0.4
years
Top 20 Avg Time Held
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Union Pacific
UNP
|
+$412M |
| 2 |
FedEx Freight
FDXF
|
+$368M |
| 3 |
Rivian
RIVN
|
+$343M |
| 4 |
CSX Corp
CSX
|
+$181M |
| 5 |
Humana
HUM
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ON Semiconductor
ON
|
+$669M |
| 2 |
Texas Instruments
TXN
|
+$603M |
| 3 |
Hewlett Packard
HPE
|
+$559M |
| 4 |
Rocket Companies
RKT
|
+$330M |
| 5 |
Nokia
NOK
|
+$288M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 32.43% |
| 2 | Technology | 27.67% |
| 3 | Materials | 13.61% |
| 4 | Consumer Discretionary | 11.79% |
| 5 | Healthcare | 6.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Union Pacific
UNP
$172B
| $626M | 8.67% |
2,302,604
+1,569,800
| +214% | +$412M |
2025 Q3
3 quarters
|
|
2
Unity
U
$17.8B
| $459M | 6.36% |
16,075,152
+4,725,400
| +42% | +$126M |
2024 Q4
6 quarters
|
|
3
United Airlines
UAL
$31.2B
| $452M | 6.26% |
3,325,452
+212,400
| +7% | +$22M |
2024 Q2
8 quarters
|
|
|
4
Humana
HUM
$49.6B
| $429M | 5.94% |
1,079,930
+620,230
| +135% | +$177M |
2025 Q4
2 quarters
|
|
5
STMicroelectronics
STM
$40.6B
| $392M | 5.43% |
5,239,714
-885,686
| -14% | -$53.3M |
2025 Q4
2 quarters
|
|
|
6
Rivian
RIVN
$18B
| $381M | 5.28% |
+21,978,400
| New | +$343M |
2026 Q2
0 quarters
|
|
|
7
Hewlett Packard
HPE
$73.2B
| $351M | 4.86% |
7,781,642
-15,473,200
| -67% | -$559M |
2023 Q4
10 quarters
|
|
|
8
FedEx Freight
FDXF
$16.9B
| $339M | 4.7% |
+2,247,200
| New | +$368M |
2026 Q2
0 quarters
|
|
9
Delta Air Lines
DAL
$49.6B
| $282M | 3.91% |
3,015,048
+48,500
| +2% | +$3.66M |
2024 Q2
8 quarters
|
|
10
Nucor
NUE
$58.1B
| $280M | 3.88% |
1,258,770
-782,700
| -38% | -$177M |
2025 Q3
3 quarters
|
|
11
Freeport-McMoran
FCX
$100B
| $278M | 3.85% |
4,423,300
+954,400
| +28% | +$61.4M |
2025 Q4
2 quarters
|
|
12
Cleveland-Cliffs
CLF
$6.91B
| $267M | 3.69% |
28,410,081
+9,166,100
| +48% | +$101M |
2023 Q3
11 quarters
|
|
13
Knight Transportation
KNX
$10.5B
| $266M | 3.68% |
3,411,000
-1,207,200
| -26% | -$83.7M |
2025 Q4
2 quarters
|
|
14
Wolfspeed
WOLF
$1.23B
| $214M | 2.96% |
4,438,156
| – | – |
2026 Q1
1 quarter
|
|
|
15
CSX Corp
CSX
$90.2B
| $191M | 2.64% |
+4,009,200
| New | +$181M |
2026 Q2
0 quarters
|
|
16
International Paper
IP
$18B
| $185M | 2.56% |
4,861,976
+1,482,300
| +44% | +$50.8M |
2024 Q4
6 quarters
|
|
17
Transocean
RIG
$6.28B
| $182M | 2.52% |
37,266,300
+7,204,200
| +24% | +$45M |
2026 Q1
1 quarter
|
|
18
Aptiv
APTV
$9.31B
| $163M | 2.25% |
+2,650,115
| New | +$162M |
2026 Q2
0 quarters
|
|
19
James Hardie Industries
JHX
$15B
| $158M | 2.18% |
6,021,000
+656,500
| +12% | +$14.4M |
2025 Q3
3 quarters
|
|
20
American Airlines Group
AAL
$7.86B
| $150M | 2.07% |
8,276,584
+1,804,900
| +28% | +$24.2M |
2024 Q2
8 quarters
|
|
21
Roblox
RBLX
$35.4B
| $149M | 2.07% |
+2,746,300
| New | +$137M |
2026 Q2
0 quarters
|
|
|
22
Texas Instruments
TXN
$252B
| $148M | 2.04% |
495,521
-2,174,704
| -81% | -$603M |
2026 Q1
1 quarter
|
|
23
Akamai
AKAM
$12.6B
| $141M | 1.96% |
+1,196,800
| New | +$149M |
2026 Q2
0 quarters
|
|
24
Enphase Energy
ENPH
$4.05B
| $127M | 1.76% |
2,587,170
+1,677,270
| +184% | +$76.4M |
2026 Q1
1 quarter
|
|
|
25
ON Semiconductor
ON
$28B
| $120M | 1.66% |
1,269,323
-6,529,477
| -84% | -$669M |
2025 Q4
2 quarters
|
|
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David Greenspan's Q2 2026 Portfolio in Review
As of Q2 2026, David Greenspan held 55 positions worth $7.22B, up 7.3% from $6.73B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
David Greenspan withdrew a net $1.6B in Q2 2026, closing 15 positions and reducing 7 holdings. Its most notable exit was Rocket Companies, an estimated $330M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 32% of assets, up from 21% a quarter earlier, followed by Technology and Materials.
Against the trend, David Greenspan opened a new position in FedEx Freight worth $339M.
- David Greenspan's largest Q2 2026 buy was FedEx Freight: 2,247,200 shares worth $339M.
- David Greenspan added most to Union Pacific in Q2 2026, an estimated $412M increase.
- David Greenspan's biggest Q2 2026 reduction was ON Semiconductor, cutting an estimated $669M.
- David Greenspan fully exited Rocket Companies in Q2 2026, selling an estimated $330M.
- David Greenspan's ten largest holdings make up 55% of its $7.22B portfolio in Q2 2026.
- David Greenspan opened 11 new positions and closed 15 in Q2 2026.
- David Greenspan's portfolio value rose 7.3% quarter-over-quarter to $7.22B.
Based on Slate Path Capital's 13F filing for Q2 2026, filed 14 Aug 2026.