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 |
B
Barrick Mining
B
|
+$122M |
| 2 |
VanEck Gold Miners ETF
GDX
|
+$117M |
| 3 |
GE Aerospace
GE
|
+$49.1M |
| 4 |
Snap
SNAP
|
+$28.9M |
| 5 |
Charter Communications
CHTR
|
+$26.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
X
US Steel
X
|
+$56.7M |
| 2 |
CF Industries
CF
|
+$33.5M |
| 3 |
The Mosaic Company
MOS
|
+$26M |
| 4 |
VanEck Junior Gold Miners ETF
GDXJ
|
+$7.42M |
| 5 |
Global X Silver Miners ETF NEW
SIL
|
+$6.18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 34.8% |
| 2 | Communication Services | 28.33% |
| 3 | Healthcare | 8.42% |
| 4 | Financials | 5.9% |
| 5 | Industrials | 4.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
B
1
Barrick Mining
B
$78.3B
| $135M | 15.22% |
9,975,000
+9,435,000
| +1,747% | +$122M |
|
|
2
VanEck Gold Miners ETF
GDX
$31.8B
| $134M | 15.13% |
6,365,000
+5,956,000
| +1,456% | +$117M |
|
|
3
Charter Communications
CHTR
$17.9B
| $102M | 11.53% |
359,000
+84,000
| +31% | +$26.3M |
|
|
4
The Mosaic Company
MOS
$7.76B
| $89.5M | 10.09% |
3,065,000
-790,000
| -20% | -$26M |
|
5
New York Times
NYT
$10.6B
| $74.1M | 8.35% |
3,325,000
+165,000
| +5% | +$4.18M |
|
|
6
Snap
SNAP
$8.86B
| $72.2M | 8.14% |
13,105,000
+4,445,000
| +51% | +$28.9M |
|
|
7
CF Industries
CF
$19.6B
| $68.1M | 7.67% |
1,565,000
-715,000
| -31% | -$33.5M |
|
8
Ally Financial
ALLY
$13.1B
| $52.3M | 5.9% |
2,310,000
| – | – |
|
|
MDCO
9
DELISTED
Medicines Co
MDCO
| $39.7M | 4.48% |
2,075,000
+80,000
| +4% | +$1.86M |
|
|
10
GE Aerospace
GE
$361B
| $39.4M | 4.45% |
+1,087,129
| New | +$49.1M |
|
11
Alnylam Pharmaceuticals
ALNY
$31.6B
| $35M | 3.94% |
480,000
| – | – |
|
12
PUT
Invesco QQQ Trust
QQQ
$486B
| $10M | 1.13% |
65,000
+46,000
| +242% | +$7.69M |
|
|
GG
13
DELISTED
Goldcorp Inc
GG
| $7.3M | 0.82% |
+745,000
| New | +$7.23M |
|
14
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $4.3M | 0.48% |
+110,000
| New | +$4.41M |
|
15
Pan American Silver
PAAS
$22B
| $3.93M | 0.44% |
269,000
+147,000
| +120% | +$2.1M |
|
16
Wheaton Precious Metals
WPM
$71.7B
| $3.87M | 0.44% |
198,000
+28,000
| +16% | +$477K |
|
|
SDRL
17
DELISTED
Seadrill Limited Common Stock
SDRL
| $3.8M | 0.43% |
+390,000
| New | +$6.78M |
|
18
Tidewater
TDW
$4.74B
| $3.63M | 0.41% |
+190,000
| New | +$4.95M |
|
19
State Street SPDR S&P Metals & Mining ETF
XME
$4.63B
| $3.14M | 0.35% |
+120,000
| New | +$3.62M |
|
20
Zillow
ZG
$8.27B
| $2.7M | 0.3% |
+86,000
| New | +$3.04M |
|
|
21
CALL
Snap
SNAP
$8.86B
| $1.49M | 0.17% |
+270,000
| New | +$1.76M |
|
22
First Majestic Silver
AG
$10.4B
| $1M | 0.11% |
170,000
| – | – |
|
|
23
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| – | – |
-86,500
| Closed | -$3.71M |
|
|
24
VanEck Junior Gold Miners ETF
GDXJ
$9.69B
| – | – |
-271,000
| Closed | -$7.42M |
|
|
25
Global X Silver Miners ETF NEW
SIL
$5.37B
| – | – |
-255,000
| Closed | -$6.18M |
|
Similar funds
David Greenspan's Q4 2018 Portfolio in Review
As of Q4 2018, David Greenspan held 26 positions worth $887M, up 19% from $745M the previous quarter. Its ten largest holdings account for 91% of the portfolio.
David Greenspan deployed $258M of net new capital in Q4 2018, opening 8 new positions and adding to 9 existing holdings. Its largest new stake was GE Aerospace: 1,087,129 shares worth $39.4M.
By sector, the portfolio is most concentrated in Materials at 35% of assets, down from 43% a quarter earlier, followed by Communication Services and Healthcare.
On the sell side, the largest reduction was CF Industries, an estimated $33.5M trimmed.
- David Greenspan's largest Q4 2018 buy was GE Aerospace: 1,087,129 shares worth $39.4M.
- David Greenspan added most to Barrick Mining in Q4 2018, an estimated $122M increase.
- David Greenspan's biggest Q4 2018 reduction was CF Industries, cutting an estimated $33.5M.
- David Greenspan fully exited US Steel in Q4 2018, selling an estimated $56.7M.
- David Greenspan's ten largest holdings make up 91% of its $887M portfolio in Q4 2018.
- David Greenspan opened 8 new positions and closed 4 in Q4 2018.
- David Greenspan's portfolio value rose 19% quarter-over-quarter to $887M.
Based on Slate Path Capital's 13F filing for Q4 2018, filed 14 Feb 2019.