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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
-21.63%
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
$1.3B
AUM Growth
-$553M
Cap. Flow
-$90.5M
Cap. Flow %
-6.94%
Top 10 Hldgs %
85.39%
Holding
34
New
7
Increased
6
Reduced
9
Closed
8

Top Buys

Rank Stock Value
1
VTRS icon
Viatris
VTRS
+$207M
2
PAAS icon
Pan American Silver
PAAS
+$17.2M
3
IRWD icon
Ironwood Pharmaceuticals
IRWD
+$15.7M
4
ENDP
Endo International plc
ENDP
+$15.3M
5
MOS icon
The Mosaic Company
MOS
+$7.21M

Top Sells

Rank Stock Value
1
SNAP icon
Snap
SNAP
+$75.5M
2
MDCO
Medicines Co
MDCO
+$69.5M
3
EQT icon
EQT Corp
EQT
+$54.2M
4
SBSW icon
Sibanye-Stillwater
SBSW
+$39.1M
5
Z icon
Zillow
Z
+$35.8M

Sector Composition

Rank Sector Weight
1 Communication Services 38.07%
2 Materials 28.45%
3 Healthcare 27.34%
4 Industrials 4.32%
5 Consumer Discretionary 0.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
B
1
Barrick Mining
B
$78.3B
$186M 14.25%
10,145,000
+350,000
+4% +$6.56M
CHTR icon
2
Charter Communications
CHTR
$17.9B
$164M 12.58%
376,000
-5,000
-1% -$2.45M
VTRS icon
3
Viatris
VTRS
$18.7B
$161M 12.33%
+10,785,000
New +$207M
NYT icon
4
New York Times
NYT
$10.6B
$133M 10.2%
4,330,000
-600,000
-12% -$20.6M
SNAP icon
5
Snap
SNAP
$8.86B
$114M 8.74%
9,585,000
-4,920,000
-34% -$75.5M
ALNY icon
6
Alnylam Pharmaceuticals
ALNY
$31.6B
$78.2M 5.99%
718,000
-97,000
-12% -$11.2M
Z icon
7
Zillow
Z
$8.07B
$77.4M 5.94%
2,150,000
-775,000
-26% -$35.8M
MOS icon
8
The Mosaic Company
MOS
$7.76B
$70.8M 5.43%
6,545,000
+425,000
+7% +$7.21M
BHC icon
9
Bausch Health
BHC
$2.41B
$65.8M 5.05%
4,245,000
-1,334,948
-24% -$32.2M
PAAS icon
10
Pan American Silver
PAAS
$22B
$63.5M 4.87%
4,430,000
+830,000
+23% +$17.2M
KEX icon
11
Kirby Corp
KEX
$7.39B
$56.3M 4.32%
1,296,000
-197,000
-13% -$13.4M
FCX icon
12
Freeport-McMoran
FCX
$110B
$50.8M 3.9%
7,530,000
+550,000
+8% +$5.75M
IRWD icon
13
Ironwood Pharmaceuticals
IRWD
$709M
$13.5M 1.04%
+1,340,000
New +$15.7M
ENDP
14
DELISTED
Endo International plc
ENDP
$12.5M 0.96%
3,380,000
+3,030,000
+866% +$15.3M
CUE icon
15
Cue Biopharma
CUE
$174M
$12.4M 0.95%
29,023
-644
-2% -$312K
EEM icon
16
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
$11.4M 0.87%
333,000
– –
QURE icon
17
uniQure
QURE
$3.36B
$6.64M 0.51%
140,000
– –
ZG icon
18
Zillow
ZG
$8.27B
$6.28M 0.48%
185,000
– –
LX
19
LexinFintech Holdings
LX
$219M
$3.9M 0.3%
440,000
+215,000
+96% +$2.66M
W icon
20
Wayfair
W
$13.9B
$3.74M 0.29%
+70,000
New +$5.36M
APRN
21
DELISTED
Blue Apron Holdings, Inc. Class A Common Stock
APRN
$3.58M 0.27%
24,750
-1,917
-7% -$122K
ATRA icon
22
Atara Biotherapeutics
ATRA
$97.4M
$3.57M 0.27%
+16,800
New +$5.33M
CYCN icon
23
Cyclerion Therapeutics
CYCN
$18.2M
$3.17M 0.24%
+59,803
New +$4.27M
I
24
DELISTED
INTELSAT S. A.
I
$1.68M 0.13%
1,100,000
– –
RIG icon
25
Transocean
RIG
$6.61B
$545K 0.04%
+470,000
New +$1.83M
1
2

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David Greenspan's Q1 2020 Portfolio in Review

As of Q1 2020, David Greenspan held 34 positions worth $1.3B, down 30% from $1.86B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

David Greenspan withdrew a net $90.5M in Q1 2020, closing 8 positions and reducing 9 holdings. Its most notable exit was Medicines Co, an estimated $69.5M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 38% of assets, down from 39% a quarter earlier, followed by Materials and Healthcare.

Against the trend, David Greenspan opened a new position in Viatris worth $161M.

  • David Greenspan's largest Q1 2020 buy was Viatris: 10,785,000 shares worth $161M.
  • David Greenspan added most to Pan American Silver in Q1 2020, an estimated $17.2M increase.
  • David Greenspan's biggest Q1 2020 reduction was Snap, cutting an estimated $75.5M.
  • David Greenspan fully exited Medicines Co in Q1 2020, selling an estimated $69.5M.
  • David Greenspan's ten largest holdings make up 85% of its $1.3B portfolio in Q1 2020.
  • David Greenspan opened 7 new positions and closed 8 in Q1 2020.
  • David Greenspan's portfolio value fell 30% quarter-over-quarter to $1.3B.

Based on Slate Path Capital's 13F filing for Q1 2020, filed 15 May 2020.