David Greenspan Slate Path Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marathon Petroleum
MPC
|
+$220M |
| 2 |
YOKU
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
|
+$128M |
| 3 |
Trip.com Group
TCOM
|
+$117M |
| 4 |
LVLT
Level 3 Communications Inc
LVLT
|
+$88.6M |
| 5 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$48.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$121M |
| 2 |
Lowe's Companies
LOW
|
+$90M |
| 3 |
Intuitive Surgical
ISRG
|
+$50M |
| 4 |
American International
AIG
|
+$25.4M |
| 5 |
Enovis
ENOV
|
+$20.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 18.06% |
| 2 | Energy | 17.19% |
| 3 | Healthcare | 16.04% |
| 4 | Financials | 6.97% |
| 5 | Technology | 6.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$486B
| $748M | 25.8% |
+8,500,000
| New | +$708M |
|
|
2
Marathon Petroleum
MPC
$101B
| $263M | 9.07% |
+5,730,000
| New | +$220M |
|
|
ENDP
3
DELISTED
Endo International plc
ENDP
| $255M | 8.79% |
3,775,000
+500,000
| +15% | +$28.5M |
|
|
4
American International
AIG
$39.8B
| $202M | 6.97% |
3,955,000
-510,000
| -11% | -$25.4M |
|
5
Charter Communications
CHTR
$17.9B
| $163M | 5.64% |
1,195,000
+80,000
| +7% | +$10.6M |
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $146M | 5.03% |
5,219,491
| – | – |
|
|
YOKU
7
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
| $135M | 4.66% |
+4,455,000
| New | +$128M |
|
|
8
Trip.com Group
TCOM
$29B
| $124M | 4.28% |
5,000,000
+4,466,636
| +837% | +$117M |
|
9
Cheniere Energy
LNG
$57.3B
| $118M | 4.08% |
2,740,000
| – | – |
|
|
P
10
DELISTED
Pandora Media Inc
P
| $113M | 3.91% |
4,255,000
+855,000
| +25% | +$23.4M |
|
11
SiriusXM
SIRI
$9.67B
| $101M | 3.49% |
2,894,000
| – | – |
|
|
LVLT
12
DELISTED
Level 3 Communications Inc
LVLT
| $99.7M | 3.44% |
+3,005,000
| New | +$88.6M |
|
|
13
Enovis
ENOV
$1.5B
| $94.9M | 3.27% |
865,690
-203,350
| -19% | -$20.4M |
|
14
Phillips 66
PSX
$96.9B
| $79.1M | 2.73% |
1,025,000
| – | – |
|
15
Alnylam Pharmaceuticals
ALNY
$31.6B
| $64.3M | 2.22% |
1,000,000
-260,000
| -21% | -$15.5M |
|
16
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $55.4M | 1.91% |
300,000
-2,200,000
| -88% | -$389M |
|
|
17
Intuitive Surgical
ISRG
$134B
| $51.1M | 1.76% |
1,197,000
-1,188,000
| -50% | -$50M |
|
|
ZNGA
18
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $48M | 1.66% |
+12,625,000
| New | +$48.9M |
|
19
PBF Energy
PBF
$8.72B
| $38.1M | 1.31% |
1,210,000
+775,000
| +178% | +$21.1M |
|
|
20
Lowe's Companies
LOW
$121B
| – | – |
-1,890,000
| Closed | -$90M |
|
|
21
Netflix
NFLX
$331B
| – | – |
-27,300,000
| Closed | -$121M |
|
Similar funds
David Greenspan's Q4 2013 Portfolio in Review
As of Q4 2013, David Greenspan held 21 positions worth $2.9B, up 51% from $1.92B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
David Greenspan deployed $683M of net new capital in Q4 2013, opening 5 new positions and adding to 5 existing holdings. Its largest new stake was Marathon Petroleum: 5,730,000 shares worth $263M.
By sector, the portfolio is most concentrated in Communication Services at 18% of assets, down from 30% a quarter earlier, followed by Energy and Healthcare.
On the sell side, the largest reduction was Intuitive Surgical, an estimated $50M trimmed.
- David Greenspan's largest Q4 2013 buy was Marathon Petroleum: 5,730,000 shares worth $263M.
- David Greenspan added most to Trip.com Group in Q4 2013, an estimated $117M increase.
- David Greenspan's biggest Q4 2013 reduction was Intuitive Surgical, cutting an estimated $50M.
- David Greenspan fully exited Netflix in Q4 2013, selling an estimated $121M.
- David Greenspan's ten largest holdings make up 78% of its $2.9B portfolio in Q4 2013.
- David Greenspan opened 5 new positions and closed 2 in Q4 2013.
- David Greenspan's portfolio value rose 51% quarter-over-quarter to $2.9B.
Based on Slate Path Capital's 13F filing for Q4 2013, filed 14 Feb 2014.