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 |
TripAdvisor
TRIP
|
+$83.9M |
| 2 |
Live Nation Entertainment
LYV
|
+$61.1M |
| 3 |
X
US Steel
X
|
+$54.6M |
| 4 |
CF Industries
CF
|
+$53.4M |
| 5 |
Advance Auto Parts
AAP
|
+$45.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$128M |
| 2 |
ANDV
Andeavor
ANDV
|
+$110M |
| 3 |
Ally Financial
ALLY
|
+$62.5M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$49M |
| 5 |
Insulet
PODD
|
+$4.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.07% |
| 2 | Consumer Discretionary | 20.95% |
| 3 | Healthcare | 13.9% |
| 4 | Financials | 9.93% |
| 5 | Industrials | 7.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWTR
1
DELISTED
Twitter, Inc.
TWTR
| $261M | 13.74% |
15,485,000
+345,000
| +2% | +$6.02M |
|
2
Charter Communications
CHTR
$17.9B
| $220M | 11.56% |
605,000
| – | – |
|
|
3
Ally Financial
ALLY
$13.1B
| $189M | 9.93% |
7,780,000
-2,800,000
| -26% | -$62.5M |
|
|
TIF
4
DELISTED
Tiffany & Co.
TIF
| $161M | 8.47% |
1,755,000
+240,000
| +16% | +$22M |
|
|
5
Insulet
PODD
$10.3B
| $150M | 7.88% |
2,720,000
-75,000
| -3% | -$4.1M |
|
|
6
Advance Auto Parts
AAP
$2.57B
| $148M | 7.8% |
1,495,000
+450,000
| +43% | +$45.4M |
|
7
Avis
CAR
$5.18B
| $130M | 6.83% |
3,410,000
+310,000
| +10% | +$10.4M |
|
8
DXC Technology
DXC
$1.73B
| $97.5M | 5.13% |
1,312,060
+300,560
| +30% | +$21.3M |
|
|
9
TripAdvisor
TRIP
$1.17B
| $83.7M | 4.4% |
+2,065,000
| New | +$83.9M |
|
|
P
10
DELISTED
Pandora Media Inc
P
| $79.2M | 4.16% |
10,280,000
+4,775,000
| +87% | +$41M |
|
|
11
Live Nation Entertainment
LYV
$42.4B
| $68.6M | 3.61% |
+1,575,000
| New | +$61.1M |
|
|
12
Alnylam Pharmaceuticals
ALNY
$31.6B
| $65.9M | 3.47% |
561,000
-574,000
| -51% | -$49M |
|
|
13
CF Industries
CF
$19.6B
| $60.8M | 3.2% |
+1,730,000
| New | +$53.4M |
|
|
X
14
DELISTED
US Steel
X
| $57.2M | 3.01% |
+2,230,000
| New | +$54.6M |
|
15
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $53.4M | 2.81% |
212,500
-1,537,500
| -88% | -$379M |
|
|
MDCO
16
DELISTED
Medicines Co
MDCO
| $41.1M | 2.16% |
1,110,000
+565,000
| +104% | +$20.8M |
|
|
17
VanEck Gold Miners ETF
GDX
$31.8B
| $8.68M | 0.46% |
378,000
-5,542,000
| -94% | -$128M |
|
18
Global X Silver Miners ETF NEW
SIL
$5.37B
| $7.39M | 0.39% |
+224,000
| New | +$7.56M |
|
19
lululemon athletica
LULU
$13.7B
| $5.35M | 0.28% |
+86,000
| New | +$5.18M |
|
20
DexCom
DXCM
$34.8B
| $4.55M | 0.24% |
+372,000
| New | +$6.58M |
|
|
ATCO
21
DELISTED
Atlas Corp.
ATCO
| $3.19M | 0.17% |
450,000
| – | – |
|
|
HTZ
22
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $3.11M | 0.16% |
+159,989
| New | +$2.52M |
|
|
IPXL
23
DELISTED
Impax Laboratories, Inc.
IPXL
| $2.94M | 0.15% |
+145,000
| New | +$2.77M |
|
24
CALL
Invesco QQQ Trust
QQQ
$486B
| – | – |
-4,000,000
| Closed | -$551M |
|
|
ANDV
25
DELISTED
Andeavor
ANDV
| – | – |
-1,180,000
| Closed | -$110M |
|
Similar funds
David Greenspan's Q3 2017 Portfolio in Review
As of Q3 2017, David Greenspan held 25 positions worth $1.9B, down 28% from $2.63B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
David Greenspan withdrew a net $839M in Q3 2017, closing 2 positions and reducing 5 holdings. Its most notable exit was Andeavor, an estimated $110M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 20% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, David Greenspan opened a new position in TripAdvisor worth $83.7M.
- David Greenspan's largest Q3 2017 buy was TripAdvisor: 2,065,000 shares worth $83.7M.
- David Greenspan added most to Advance Auto Parts in Q3 2017, an estimated $45.4M increase.
- David Greenspan's biggest Q3 2017 reduction was VanEck Gold Miners ETF, cutting an estimated $128M.
- David Greenspan fully exited Andeavor in Q3 2017, selling an estimated $110M.
- David Greenspan's ten largest holdings make up 80% of its $1.9B portfolio in Q3 2017.
- David Greenspan opened 9 new positions and closed 2 in Q3 2017.
- David Greenspan's portfolio value fell 28% quarter-over-quarter to $1.9B.
Based on Slate Path Capital's 13F filing for Q3 2017, filed 14 Nov 2017.