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 |
Snap
SNAP
|
+$101M |
| 2 |
The Mosaic Company
MOS
|
+$21.2M |
| 3 |
MDCO
Medicines Co
MDCO
|
+$9.98M |
| 4 |
B
Barrick Mining
B
|
+$6.01M |
| 5 |
VanEck Junior Gold Miners ETF
GDXJ
|
+$4.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chipotle Mexican Grill
CMG
|
+$175M |
| 2 |
CF Industries
CF
|
+$139M |
| 3 |
TWTR
Twitter, Inc.
TWTR
|
+$105M |
| 4 |
Charter Communications
CHTR
|
+$91.6M |
| 5 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$71.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 42.64% |
| 2 | Communication Services | 31.7% |
| 3 | Healthcare | 13.65% |
| 4 | Financials | 8.2% |
| 5 | Energy | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
The Mosaic Company
MOS
$7.76B
| $125M | 16.8% |
3,855,000
+705,000
| +22% | +$21.2M |
|
|
2
CF Industries
CF
$19.6B
| $124M | 16.66% |
2,280,000
-2,875,000
| -56% | -$139M |
|
|
3
Charter Communications
CHTR
$17.9B
| $89.6M | 12.03% |
275,000
-300,000
| -52% | -$91.6M |
|
|
4
Snap
SNAP
$8.86B
| $73.4M | 9.86% |
+8,660,000
| New | +$101M |
|
5
New York Times
NYT
$10.6B
| $73.2M | 9.82% |
3,160,000
| – | – |
|
6
Ally Financial
ALLY
$13.1B
| $61.1M | 8.2% |
2,310,000
-675,000
| -23% | -$18.3M |
|
|
MDCO
7
DELISTED
Medicines Co
MDCO
| $59.7M | 8.01% |
1,995,000
+265,000
| +15% | +$9.98M |
|
|
X
8
DELISTED
US Steel
X
| $56.7M | 7.61% |
1,860,000
-1,055,000
| -36% | -$34M |
|
9
Alnylam Pharmaceuticals
ALNY
$31.6B
| $42M | 5.64% |
480,000
| – | – |
|
10
VanEck Gold Miners ETF
GDX
$31.8B
| $7.58M | 1.02% |
409,000
+71,000
| +21% | +$1.42M |
|
|
11
VanEck Junior Gold Miners ETF
GDXJ
$9.69B
| $7.42M | 1% |
271,000
+136,000
| +101% | +$4.04M |
|
12
Global X Silver Miners ETF NEW
SIL
$5.37B
| $6.18M | 0.83% |
255,000
-93,000
| -27% | -$2.43M |
|
|
B
13
Barrick Mining
B
$78.3B
| $5.98M | 0.8% |
+540,000
| New | +$6.01M |
|
14
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $3.71M | 0.5% |
+86,500
| New | +$3.73M |
|
15
PUT
Invesco QQQ Trust
QQQ
$486B
| $3.53M | 0.47% |
+19,000
| New | +$3.44M |
|
16
Wheaton Precious Metals
WPM
$71.7B
| $2.98M | 0.4% |
+170,000
| New | +$3.26M |
|
17
Pan American Silver
PAAS
$22B
| $1.8M | 0.24% |
+122,000
| New | +$1.95M |
|
18
First Majestic Silver
AG
$10.4B
| $966K | 0.13% |
+170,000
| New | +$1.05M |
|
19
Avis
CAR
$5.18B
| – | – |
-80,000
| Closed | -$2.6M |
|
|
20
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-20,250,000
| Closed | -$175M |
|
21
Diana Shipping
DSX
$337M
| – | – |
-607,888
| Closed | -$2.04M |
|
22
Diamondback Energy
FANG
$59B
| – | – |
-255,000
| Closed | -$33.5M |
|
|
PXD
23
DELISTED
Pioneer Natural Resource Co.
PXD
| – | – |
-380,000
| Closed | -$71.9M |
|
|
TWTR
24
DELISTED
Twitter, Inc.
TWTR
| – | – |
-2,395,000
| Closed | -$105M |
|
|
HTZ
25
DELISTED
Hertz Global Holdings, Inc.
HTZ
| – | – |
-1,490,545
| Closed | -$19.9M |
|
Similar funds
David Greenspan's Q3 2018 Portfolio in Review
As of Q3 2018, David Greenspan held 26 positions worth $745M, down 44% from $1.32B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
David Greenspan withdrew a net $572M in Q3 2018, closing 8 positions and reducing 5 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $175M position sold in full.
By sector, the portfolio is most concentrated in Materials at 43% of assets, up from 32% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, David Greenspan opened a new position in Snap worth $73.4M.
- David Greenspan's largest Q3 2018 buy was Snap: 8,660,000 shares worth $73.4M.
- David Greenspan added most to The Mosaic Company in Q3 2018, an estimated $21.2M increase.
- David Greenspan's biggest Q3 2018 reduction was CF Industries, cutting an estimated $139M.
- David Greenspan fully exited Chipotle Mexican Grill in Q3 2018, selling an estimated $175M.
- David Greenspan's ten largest holdings make up 96% of its $745M portfolio in Q3 2018.
- David Greenspan opened 7 new positions and closed 8 in Q3 2018.
- David Greenspan's portfolio value fell 44% quarter-over-quarter to $745M.
Based on Slate Path Capital's 13F filing for Q3 2018, filed 14 Nov 2018.