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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
-6.8%
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
$2.22B
AUM Growth
-$1.35B
Cap. Flow
-$1.27B
Cap. Flow %
-57.33%
Top 10 Hldgs %
79.23%
Holding
26
New
8
Increased
4
Reduced
2
Closed
6

Top Buys

Rank Stock Value
1
WBA
Walgreens Boots Alliance
WBA
+$147M
2
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
+$68.3M
3
ANDV
Andeavor
ANDV
+$65M
4
IPXL
Impax Laboratories, Inc.
IPXL
+$59.7M
5
MPC icon
Marathon Petroleum
MPC
+$46.3M

Top Sells

Rank Stock Value
1
TCOM icon
Trip.com Group
TCOM
+$93.8M
2
ALLE icon
Allegion
ALLE
+$93.5M
3
ENDP
Endo International plc
ENDP
+$77.7M
4
ISRG icon
Intuitive Surgical
ISRG
+$55.4M

Sector Composition

Rank Sector Weight
1 Communication Services 16.75%
2 Healthcare 16.5%
3 Energy 8.35%
4 Materials 5.03%
5 Technology 4.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIA icon
1
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
$510M 22.95%
+3,000,000
New +$508M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$296M 13.29%
1,500,000
-350,000
-19% -$69.2M
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$164M 7.38%
+1,500,000
New +$172M
CHTR icon
4
Charter Communications
CHTR
$17.9B
$138M 6.2%
910,000
– –
WBA
5
DELISTED
Walgreens Boots Alliance
WBA
$133M 5.99%
+2,245,000
New +$147M
P
6
DELISTED
Pandora Media Inc
P
$123M 5.55%
5,105,000
+1,280,000
+33% +$34M
AIG icon
7
American International
AIG
$39.8B
$106M 4.76%
1,960,000
– –
B
8
Barrick Mining
B
$78.3B
$103M 4.63%
7,027,000
– –
SIRI icon
9
SiriusXM
SIRI
$9.67B
$101M 4.54%
2,894,000
– –
ISRG icon
10
Intuitive Surgical
ISRG
$134B
$87.7M 3.95%
1,710,000
-1,116,000
-39% -$55.4M
MPC icon
11
Marathon Petroleum
MPC
$101B
$87.2M 3.92%
2,060,000
+1,090,000
+112% +$46.3M
ALNY icon
12
Alnylam Pharmaceuticals
ALNY
$31.6B
$66.8M 3%
855,000
+257,000
+43% +$16.6M
ANDV
13
DELISTED
Andeavor
ANDV
$64.3M 2.89%
+1,055,000
New +$65M
ZNGA
14
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
$61.6M 2.77%
+22,800,000
New +$68.3M
IPXL
15
DELISTED
Impax Laboratories, Inc.
IPXL
$55.2M 2.48%
+2,330,000
New +$59.7M
YOKU
16
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
$49.4M 2.22%
2,755,000
+550,000
+25% +$11.1M
PBF icon
17
PBF Energy
PBF
$8.72B
$34.1M 1.53%
1,420,000
– –
MDCO
18
DELISTED
Medicines Co
MDCO
$24M 1.08%
+1,075,000
New +$27.3M
TPCO
19
DELISTED
Tribune Publishing Company Common Stock
TPCO
$10.2M 0.46%
+506,531
New +$10.2M
CLF icon
20
Cleveland-Cliffs
CLF
$6.43B
$8.88M 0.4%
855,000
– –
ALLE icon
21
Allegion
ALLE
$13.8B
– –
-1,650,000
Closed -$93.5M
QQQ icon
22
PUT
Invesco QQQ Trust
QQQ
$486B
– –
-2,500,000
Closed -$235M
SPY icon
23
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
– –
-9,100,000
Closed -$1.78B
TCOM icon
24
Trip.com Group
TCOM
$29B
– –
-2,930,000
Closed -$93.8M
ENDP
25
DELISTED
Endo International plc
ENDP
– –
-1,110,000
Closed -$77.7M
1
2

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David Greenspan's Q3 2014 Portfolio in Review

As of Q3 2014, David Greenspan held 26 positions worth $2.22B, down 38% from $3.58B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

David Greenspan withdrew a net $1.27B in Q3 2014, closing 6 positions and reducing 2 holdings. Its most notable exit was Trip.com Group, an estimated $93.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 17% of assets, up from 10% a quarter earlier, followed by Healthcare and Energy.

Against the trend, David Greenspan opened a new position in Walgreens Boots Alliance worth $133M.

  • David Greenspan's largest Q3 2014 buy was Walgreens Boots Alliance: 2,245,000 shares worth $133M.
  • David Greenspan added most to Marathon Petroleum in Q3 2014, an estimated $46.3M increase.
  • David Greenspan's biggest Q3 2014 reduction was Intuitive Surgical, cutting an estimated $55.4M.
  • David Greenspan fully exited Trip.com Group in Q3 2014, selling an estimated $93.8M.
  • David Greenspan's ten largest holdings make up 79% of its $2.22B portfolio in Q3 2014.
  • David Greenspan opened 8 new positions and closed 6 in Q3 2014.
  • David Greenspan's portfolio value fell 38% quarter-over-quarter to $2.22B.

Based on Slate Path Capital's 13F filing for Q3 2014, filed 14 Nov 2014.