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 |
Intuitive Surgical
ISRG
|
+$125M |
| 2 |
Allegion
ALLE
|
+$86.8M |
| 3 |
YOKU
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
|
+$49.5M |
| 4 |
Cleveland-Cliffs
CLF
|
+$14.5M |
| 5 |
Alnylam Pharmaceuticals
ALNY
|
+$11.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Trip.com Group
TCOM
|
+$91.4M |
| 2 |
ENDP
Endo International plc
ENDP
|
+$73.9M |
| 3 |
Cheniere Energy
LNG
|
+$70.3M |
| 4 |
Marathon Petroleum
MPC
|
+$60.6M |
| 5 |
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
|
+$56.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 9.98% |
| 2 | Healthcare | 6.84% |
| 3 | Materials | 3.95% |
| 4 | Financials | 2.99% |
| 5 | Consumer Discretionary | 2.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.78B | 49.78% |
+9,100,000
| New | +$1.73B |
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $362M | 10.12% |
+1,850,000
| New | +$352M |
|
3
PUT
Invesco QQQ Trust
QQQ
$486B
| $235M | 6.56% |
+2,500,000
| New | +$223M |
|
4
Charter Communications
CHTR
$17.9B
| $144M | 4.03% |
910,000
-285,000
| -24% | -$39.3M |
|
|
5
Intuitive Surgical
ISRG
$134B
| $129M | 3.61% |
+2,826,000
| New | +$125M |
|
|
B
6
Barrick Mining
B
$78.3B
| $129M | 3.59% |
7,027,000
-973,000
| -12% | -$16.9M |
|
|
P
7
DELISTED
Pandora Media Inc
P
| $113M | 3.15% |
3,825,000
-1,000,000
| -21% | -$26.1M |
|
8
American International
AIG
$39.8B
| $107M | 2.99% |
1,960,000
-740,000
| -27% | -$39.2M |
|
9
SiriusXM
SIRI
$9.67B
| $100M | 2.8% |
2,894,000
| – | – |
|
|
10
Trip.com Group
TCOM
$29B
| $93.8M | 2.62% |
2,930,000
-3,390,000
| -54% | -$91.4M |
|
|
11
Allegion
ALLE
$13.8B
| $93.5M | 2.61% |
+1,650,000
| New | +$86.8M |
|
|
ENDP
12
DELISTED
Endo International plc
ENDP
| $77.7M | 2.17% |
1,110,000
-1,105,000
| -50% | -$73.9M |
|
|
YOKU
13
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
| $52.6M | 1.47% |
+2,205,000
| New | +$49.5M |
|
|
14
Marathon Petroleum
MPC
$101B
| $37.9M | 1.06% |
970,000
-1,370,000
| -59% | -$60.6M |
|
15
PBF Energy
PBF
$8.72B
| $37.8M | 1.06% |
1,420,000
| – | – |
|
|
16
Alnylam Pharmaceuticals
ALNY
$31.6B
| $37.8M | 1.06% |
598,000
+186,460
| +45% | +$11.1M |
|
|
QCOR
17
PUT
DELISTED
QUESTCOR PHARMA INC
QCOR
| $34.2M | 0.96% |
+370,000
| New | +$31.7M |
|
|
18
Cleveland-Cliffs
CLF
$6.43B
| $12.9M | 0.36% |
+855,000
| New | +$14.5M |
|
|
19
Cheniere Energy
LNG
$57.3B
| – | – |
-1,270,000
| Closed | -$70.3M |
|
|
ZNGA
20
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| – | – |
-13,121,148
| Closed | -$56.4M |
|
|
ARIA
21
DELISTED
Ariad Pharmaceuticals Inc
ARIA
| – | – |
-6,620,000
| Closed | -$53.4M |
|
Similar funds
David Greenspan's Q2 2014 Portfolio in Review
As of Q2 2014, David Greenspan held 21 positions worth $3.58B, up 171% from $1.32B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
David Greenspan deployed $2.1B of net new capital in Q2 2014, opening 8 new positions and adding to 1 existing holding. Its largest new stake was Intuitive Surgical: 2,826,000 shares worth $129M.
By sector, the portfolio is most concentrated in Communication Services at 10% of assets, down from 29% a quarter earlier, followed by Healthcare and Materials.
On the sell side, the largest reduction was Trip.com Group, an estimated $91.4M trimmed.
- David Greenspan's largest Q2 2014 buy was Intuitive Surgical: 2,826,000 shares worth $129M.
- David Greenspan added most to Alnylam Pharmaceuticals in Q2 2014, an estimated $11.1M increase.
- David Greenspan's biggest Q2 2014 reduction was Trip.com Group, cutting an estimated $91.4M.
- David Greenspan fully exited Cheniere Energy in Q2 2014, selling an estimated $70.3M.
- David Greenspan's ten largest holdings make up 89% of its $3.58B portfolio in Q2 2014.
- David Greenspan opened 8 new positions and closed 3 in Q2 2014.
- David Greenspan's portfolio value rose 171% quarter-over-quarter to $3.58B.
Based on Slate Path Capital's 13F filing for Q2 2014, filed 14 Aug 2014.