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 |
TWTR
Twitter, Inc.
TWTR
|
+$152M |
| 2 |
TIF
Tiffany & Co.
TIF
|
+$142M |
| 3 |
DexCom
DXCM
|
+$87.4M |
| 4 |
Advance Auto Parts
AAP
|
+$34.5M |
| 5 |
MDCO
Medicines Co
MDCO
|
+$31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$360M |
| 2 |
General Motors
GM
|
+$197M |
| 3 |
SKX
Skechers
SKX
|
+$45.7M |
| 4 |
Atara Biotherapeutics
ATRA
|
+$6.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.62% |
| 2 | Healthcare | 17.29% |
| 3 | Consumer Discretionary | 15.65% |
| 4 | Financials | 10.36% |
| 5 | Energy | 7.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $286M | 14% |
12,060,000
-15,040,000
| -55% | -$360M |
|
2
Charter Communications
CHTR
$17.9B
| $245M | 12.01% |
750,000
| – | – |
|
3
Ally Financial
ALLY
$13.1B
| $212M | 10.36% |
10,420,000
| – | – |
|
|
TWTR
4
DELISTED
Twitter, Inc.
TWTR
| $196M | 9.61% |
13,140,000
+9,345,000
| +246% | +$152M |
|
5
VanEck Gold Miners ETF
GDX
$31.8B
| $174M | 8.53% |
7,645,000
+1,270,000
| +20% | +$29.5M |
|
|
6
Advance Auto Parts
AAP
$2.57B
| $162M | 7.91% |
1,090,000
+215,000
| +25% | +$34.5M |
|
|
TIF
7
DELISTED
Tiffany & Co.
TIF
| $158M | 7.74% |
+1,660,000
| New | +$142M |
|
|
ANDV
8
DELISTED
Andeavor
ANDV
| $147M | 7.2% |
1,815,000
| – | – |
|
9
Insulet
PODD
$10.3B
| $123M | 6.01% |
2,850,000
| – | – |
|
|
X
10
DELISTED
US Steel
X
| $105M | 5.15% |
3,115,000
+445,000
| +17% | +$15.8M |
|
11
Alnylam Pharmaceuticals
ALNY
$31.6B
| $103M | 5.02% |
2,000,000
| – | – |
|
|
12
DexCom
DXCM
$34.8B
| $94.9M | 4.64% |
+4,478,000
| New | +$87.4M |
|
|
MDCO
13
DELISTED
Medicines Co
MDCO
| $33.3M | 1.63% |
+680,000
| New | +$31M |
|
|
ATCO
14
DELISTED
Atlas Corp.
ATCO
| $3.88M | 0.19% |
+560,000
| New | +$4.63M |
|
|
15
Atara Biotherapeutics
ATRA
$97.4M
| – | – |
-19,000
| Closed | -$6.75M |
|
|
16
General Motors
GM
$77.2B
| – | – |
-5,650,000
| Closed | -$197M |
|
|
SKX
17
DELISTED
Skechers
SKX
| – | – |
-1,860,000
| Closed | -$45.7M |
|
18
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-4,500,000
| Closed | -$1.01B |
|
19
PUT
State Street Technology Select Sector SPDR ETF
XLK
$120B
| – | – |
-9,000,000
| Closed | -$218M |
|
Similar funds
David Greenspan's Q1 2017 Portfolio in Review
As of Q1 2017, David Greenspan held 19 positions worth $2.04B, down 38% from $3.29B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
David Greenspan withdrew a net $1.34B in Q1 2017, closing 5 positions and reducing 1 holding. Its most notable exit was General Motors, an estimated $197M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 22% of assets, up from 8.4% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, David Greenspan opened a new position in Tiffany & Co. worth $158M.
- David Greenspan's largest Q1 2017 buy was Tiffany & Co.: 1,660,000 shares worth $158M.
- David Greenspan added most to Twitter, Inc. in Q1 2017, an estimated $152M increase.
- David Greenspan's biggest Q1 2017 reduction was State Street Financial Select Sector SPDR ETF, cutting an estimated $360M.
- David Greenspan fully exited General Motors in Q1 2017, selling an estimated $197M.
- David Greenspan's ten largest holdings make up 89% of its $2.04B portfolio in Q1 2017.
- David Greenspan opened 4 new positions and closed 5 in Q1 2017.
- David Greenspan's portfolio value fell 38% quarter-over-quarter to $2.04B.
Based on Slate Path Capital's 13F filing for Q1 2017, filed 15 May 2017.