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DG

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
+31.32%
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
$6.46B
AUM Growth
+$663M
Cap. Flow
-$705M
Cap. Flow %
-10.9%
Top 10 Hldgs %
48.17%
Holding
62
New
19
Increased
7
Reduced
20
Closed
11

Top Buys

Rank Stock Value
1
UNP icon
Union Pacific
UNP
+$368M
2
AMRZ
Amrize Ltd
AMRZ
+$312M
3
RKT icon
Rocket Companies
RKT
+$241M
4
NUE icon
Nucor
NUE
+$218M
5
UPST icon
Upstart Holdings
UPST
+$192M

Top Sells

Rank Stock Value
1
WDC icon
Western Digital
WDC
+$378M
2
U icon
Unity
U
+$346M
3
MU icon
Micron Technology
MU
+$318M
4
STX icon
Seagate
STX
+$288M
5
NBIS
Nebius Group N.V.
NBIS
+$218M

Sector Composition

Rank Sector Weight
1 Technology 33.1%
2 Materials 18.77%
3 Industrials 15.37%
4 Financials 8.43%
5 Energy 7.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DAL icon
26
Delta Air Lines
DAL
$54.2B
$98.4M 1.52%
1,734,648
-28,250
-2% -$1.61M
GEV icon
27
GE Vernova
GEV
$255B
$84.5M 1.31%
137,358
-88,440
-39% -$53.6M
GLW icon
28
Corning
GLW
$129B
$84M 1.3%
1,024,200
-1,853,800
-64% -$121M
B
29
Barrick Mining
B
$78.3B
$83.6M 1.29%
2,549,834
-4,729,166
-65% -$120M
NEM icon
30
Newmont
NEM
$139B
$82.1M 1.27%
974,212
-1,840,788
-65% -$128M
GE icon
31
GE Aerospace
GE
$361B
$77.2M 1.2%
256,792
-164,208
-39% -$44.9M
APTV icon
32
Aptiv
APTV
$10B
$77.1M 1.19%
+894,000
New +$67.4M
STNE icon
33
StoneCo
STNE
$2.16B
$71.5M 1.11%
3,778,541
-415,000
-10% -$6.6M
WHR icon
34
Whirlpool
WHR
$2.63B
$65.2M 1.01%
+830,000
New +$76.2M
GFS icon
35
GlobalFoundries
GFS
$26.4B
$63.4M 0.98%
+1,769,100
New +$63.1M
DOW icon
36
Dow Inc
DOW
$23.4B
$56.5M 0.87%
+2,465,500
New +$61.4M
LYB icon
37
LyondellBasell Industries
LYB
$21.8B
$55.3M 0.86%
+1,126,800
New +$63.6M
SNAP icon
38
Snap
SNAP
$8.86B
$51.7M 0.8%
+6,706,200
New +$55.6M
RUN icon
39
Sunrun
RUN
$2.21B
$47.3M 0.73%
+2,733,850
New +$36.6M
TWLO icon
40
Twilio
TWLO
$34.6B
$45.5M 0.7%
+454,900
New +$51.2M
JHX icon
41
James Hardie Industries
JHX
$17.7B
$43.8M 0.68%
+2,281,066
New +$54.6M
UWMC icon
42
UWM Holdings
UWMC
$2.25B
$28.3M 0.44%
+4,654,000
New +$24.4M
TVRD
43
Tvardi Therapeutics
TVRD
$24.8M
$27.4M 0.42%
704,118
– –
OUST icon
44
Ouster
OUST
$2.77B
$22.4M 0.35%
+829,000
New +$23.1M
SBSW icon
45
Sibanye-Stillwater
SBSW
$8.9B
$21.6M 0.33%
1,919,000
– –
NYT icon
46
New York Times
NYT
$10.6B
$15.9M 0.25%
276,339
-68,900
-20% -$3.93M
LEN icon
47
Lennar Class A
LEN
$21B
$15.6M 0.24%
+124,102
New +$15.4M
NAMS icon
48
NewAmsterdam Pharma
NAMS
$3.33B
$9.07M 0.14%
319,000
– –
SW
49
Smurfit Westrock
SW
$25.9B
$7.96M 0.12%
187,000
-70,400
-27% -$3.19M
LAB icon
50
Standard BioTools
LAB
$263M
$2.1M 0.03%
1,615,000
– –
1
2
3

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David Greenspan's Q3 2025 Portfolio in Review

As of Q3 2025, David Greenspan held 62 positions worth $6.46B, up 11% from $5.8B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

David Greenspan withdrew a net $705M in Q3 2025, closing 11 positions and reducing 20 holdings. Its most notable exit was Micron Technology, an estimated $318M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 49% a quarter earlier, followed by Materials and Industrials.

Against the trend, David Greenspan opened a new position in Union Pacific worth $386M.

  • David Greenspan's largest Q3 2025 buy was Union Pacific: 1,631,600 shares worth $386M.
  • David Greenspan added most to EQT Corp in Q3 2025, an estimated $182M increase.
  • David Greenspan's biggest Q3 2025 reduction was Western Digital, cutting an estimated $378M.
  • David Greenspan fully exited Micron Technology in Q3 2025, selling an estimated $318M.
  • David Greenspan's ten largest holdings make up 48% of its $6.46B portfolio in Q3 2025.
  • David Greenspan opened 19 new positions and closed 11 in Q3 2025.
  • David Greenspan's portfolio value rose 11% quarter-over-quarter to $6.46B.

Based on Slate Path Capital's 13F filing for Q3 2025, filed 14 Nov 2025.