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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
+4.26%
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
$1.51B
AUM Growth
-$719M
Cap. Flow
-$741M
Cap. Flow %
-49.03%
Top 10 Hldgs %
89.77%
Holding
38
New
8
Increased
8
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
NYT icon
New York Times
NYT
+$40.9M
2
MOS icon
The Mosaic Company
MOS
+$27.8M
3
PAAS icon
Pan American Silver
PAAS
+$24.9M
4
I
INTELSAT S. A.
I
+$23.2M
5
Z icon
Zillow
Z
+$10.4M

Top Sells

Rank Stock Value
1
ALLY icon
Ally Financial
ALLY
+$71.6M
2
SNAP icon
Snap
SNAP
+$71.6M
3
B
Barrick Mining
B
+$46.2M
4
LYFT icon
Lyft
LYFT
+$40.4M
5
UBER icon
Uber
UBER
+$37.6M

Sector Composition

Rank Sector Weight
1 Communication Services 45.29%
2 Materials 21.86%
3 Healthcare 17.35%
4 Industrials 13.59%
5 Consumer Discretionary 0.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNAP icon
1
Snap
SNAP
$8.86B
$228M 15.11%
14,440,000
-4,470,000
-24% -$71.6M
CHTR icon
2
Charter Communications
CHTR
$17.9B
$193M 12.8%
469,000
-44,000
-9% -$17.8M
MDCO
3
DELISTED
Medicines Co
MDCO
$185M 12.23%
3,695,000
+150,000
+4% +$5.98M
B
4
Barrick Mining
B
$78.3B
$170M 11.24%
9,795,000
-2,620,000
-21% -$46.2M
NYT icon
5
New York Times
NYT
$10.6B
$145M 9.59%
5,085,000
+1,295,000
+34% +$40.9M
KEX icon
6
Kirby Corp
KEX
$7.39B
$112M 7.43%
1,365,000
– –
GE icon
7
GE Aerospace
GE
$361B
$92.5M 6.13%
2,076,589
– –
Z icon
8
Zillow
Z
$8.07B
$87.2M 5.78%
2,925,000
+260,000
+10% +$10.4M
MOS icon
9
The Mosaic Company
MOS
$7.76B
$86.7M 5.74%
4,230,000
+1,275,000
+43% +$27.8M
PAAS icon
10
Pan American Silver
PAAS
$22B
$56.4M 3.74%
3,600,000
+1,540,000
+75% +$24.9M
ALNY icon
11
Alnylam Pharmaceuticals
ALNY
$31.6B
$49.5M 3.27%
615,000
– –
I
12
DELISTED
INTELSAT S. A.
I
$25.1M 1.66%
+1,100,000
New +$23.2M
EEM icon
13
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
$13.6M 0.9%
333,000
+239,000
+254% +$9.87M
SBSW icon
14
Sibanye-Stillwater
SBSW
$8.9B
$13.5M 0.89%
2,496,253
+1,936,253
+346% +$9.87M
CYCN icon
15
Cyclerion Therapeutics
CYCN
$18.2M
$10.7M 0.71%
44,000
+8,299
+23% +$1.79M
RETA
16
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$9.63M 0.64%
+120,000
New +$10.2M
CUE icon
17
Cue Biopharma
CUE
$174M
$7.5M 0.5%
+29,667
New +$7.13M
ZG icon
18
Zillow
ZG
$8.27B
$5.47M 0.36%
185,000
– –
QQQ icon
19
CALL
Invesco QQQ Trust
QQQ
$486B
$3.96M 0.26%
21,000
-35,500
-63% -$6.73M
APRN
20
DELISTED
Blue Apron Holdings, Inc. Class A Common Stock
APRN
$2.7M 0.18%
+26,667
New +$2.6M
LX
21
LexinFintech Holdings
LX
$219M
$2.26M 0.15%
+225,000
New +$2.45M
PDD icon
22
Pinduoduo
PDD
$126B
$2.09M 0.14%
+65,000
New +$1.74M
FCX icon
23
Freeport-McMoran
FCX
$110B
$1.77M 0.12%
+185,000
New +$1.9M
SNAP icon
24
CALL
Snap
SNAP
$8.86B
$1.74M 0.12%
110,000
-160,000
-59% -$2.56M
TDW icon
25
Tidewater
TDW
$4.74B
$1.66M 0.11%
110,000
– –
1
2

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David Greenspan's Q3 2019 Portfolio in Review

As of Q3 2019, David Greenspan held 38 positions worth $1.51B, down 32% from $2.23B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

David Greenspan withdrew a net $741M in Q3 2019, closing 9 positions and reducing 6 holdings. Its most notable exit was Ally Financial, an estimated $71.6M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 45% of assets, up from 33% a quarter earlier, followed by Materials and Healthcare.

Against the trend, David Greenspan opened a new position in INTELSAT S. A. worth $25.1M.

  • David Greenspan's largest Q3 2019 buy was INTELSAT S. A.: 1,100,000 shares worth $25.1M.
  • David Greenspan added most to New York Times in Q3 2019, an estimated $40.9M increase.
  • David Greenspan's biggest Q3 2019 reduction was Snap, cutting an estimated $71.6M.
  • David Greenspan fully exited Ally Financial in Q3 2019, selling an estimated $71.6M.
  • David Greenspan's ten largest holdings make up 90% of its $1.51B portfolio in Q3 2019.
  • David Greenspan opened 8 new positions and closed 9 in Q3 2019.
  • David Greenspan's portfolio value fell 32% quarter-over-quarter to $1.51B.

Based on Slate Path Capital's 13F filing for Q3 2019, filed 14 Nov 2019.