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David Greenspan Slate Path Capital

AUM $7.22B
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
-21.63%
1 Year Est. Return
+110.75%
3 Year Est. Return
+393.62%
5 Year Est. Return
+449.87%
10 Year Est. Return
+5,767.79%
AUM
$1.3B
AUM Growth
-$553M
Cap. Flow
-$90.5M
Cap. Flow %
-6.94%
Top 10 Hldgs %
85.39%
Holding
34
New
7
Increased
6
Reduced
9
Closed
8

Top Buys

Rank Stock Value
1
VTRS icon
Viatris
VTRS
+$207M
2
PAAS icon
Pan American Silver
PAAS
+$17.2M
3
IRWD icon
Ironwood Pharmaceuticals
IRWD
+$15.7M
4
ENDP
Endo International plc
ENDP
+$15.3M
5
MOS icon
The Mosaic Company
MOS
+$7.21M

Top Sells

Rank Stock Value
1
SNAP icon
Snap
SNAP
+$75.5M
2
MDCO
Medicines Co
MDCO
+$69.5M
3
EQT icon
EQT Corp
EQT
+$54.2M
4
SBSW icon
Sibanye-Stillwater
SBSW
+$39.1M
5
Z icon
Zillow
Z
+$35.8M

Sector Composition

Rank Sector Weight
1 Communication Services 38.07%
2 Materials 28.45%
3 Healthcare 27.34%
4 Industrials 4.32%
5 Consumer Discretionary 0.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARCH
26
DELISTED
Arch Resources, Inc.
ARCH
$520K 0.04%
+18,000
New +$922K
AG icon
27
First Majestic Silver
AG
$10.4B
– –
-170,000
Closed -$2.08M
EQT icon
28
EQT Corp
EQT
$33.6B
– –
-4,970,000
Closed -$54.2M
SBSW icon
29
Sibanye-Stillwater
SBSW
$8.9B
– –
-3,935,000
Closed -$39.1M
SNAP icon
30
CALL
Snap
SNAP
$8.86B
– –
-110,000
Closed -$1.8M
TDW icon
31
Tidewater
TDW
$4.74B
– –
-110,000
Closed -$2.12M
X
32
DELISTED
US Steel
X
– –
-40,000
Closed -$456K
RETA
33
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-120,000
Closed -$24.5M
MDCO
34
DELISTED
Medicines Co
MDCO
– –
-818,042
Closed -$69.5M
1
2

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David Greenspan's Q1 2020 Portfolio in Review

As of Q1 2020, David Greenspan held 34 positions worth $1.3B, down 30% from $1.86B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

David Greenspan withdrew a net $90.5M in Q1 2020, closing 8 positions and reducing 9 holdings. Its most notable exit was Medicines Co, an estimated $69.5M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 38% of assets, down from 39% a quarter earlier, followed by Materials and Healthcare.

Against the trend, David Greenspan opened a new position in Viatris worth $161M.

  • David Greenspan's largest Q1 2020 buy was Viatris: 10,785,000 shares worth $161M.
  • David Greenspan added most to Pan American Silver in Q1 2020, an estimated $17.2M increase.
  • David Greenspan's biggest Q1 2020 reduction was Snap, cutting an estimated $75.5M.
  • David Greenspan fully exited Medicines Co in Q1 2020, selling an estimated $69.5M.
  • David Greenspan's ten largest holdings make up 85% of its $1.3B portfolio in Q1 2020.
  • David Greenspan opened 7 new positions and closed 8 in Q1 2020.
  • David Greenspan's portfolio value fell 30% quarter-over-quarter to $1.3B.

Based on Slate Path Capital's 13F filing for Q1 2020, filed 15 May 2020.