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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
+31.32%
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
$6.46B
AUM Growth
+$663M
Cap. Flow
-$705M
Cap. Flow %
-10.9%
Top 10 Hldgs %
48.17%
Holding
62
New
19
Increased
7
Reduced
20
Closed
11

Top Buys

Rank Stock Value
1
UNP icon
Union Pacific
UNP
+$368M
2
AMRZ
Amrize Ltd
AMRZ
+$312M
3
RKT icon
Rocket Companies
RKT
+$241M
4
NUE icon
Nucor
NUE
+$218M
5
UPST icon
Upstart Holdings
UPST
+$192M

Top Sells

Rank Stock Value
1
WDC icon
Western Digital
WDC
+$378M
2
U icon
Unity
U
+$346M
3
MU icon
Micron Technology
MU
+$318M
4
STX icon
Seagate
STX
+$288M
5
NBIS
Nebius Group N.V.
NBIS
+$218M

Sector Composition

Rank Sector Weight
1 Technology 33.1%
2 Materials 18.77%
3 Industrials 15.37%
4 Financials 8.43%
5 Energy 7.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HPE icon
1
Hewlett Packard
HPE
$70.8B
$430M 6.65%
17,509,142
+1,612,900
+10% +$35.7M
U icon
2
Unity
U
$20.7B
$428M 6.62%
10,690,852
-9,326,100
-47% -$346M
UNP icon
3
Union Pacific
UNP
$183B
$386M 5.97%
+1,631,600
New +$368M
EQT icon
4
EQT Corp
EQT
$33.6B
$323M 5%
5,939,588
+3,445,900
+138% +$182M
SNDK
5
Sandisk
SNDK
$234B
$302M 4.68%
2,693,657
-2,044,961
-43% -$119M
AMRZ
6
Amrize Ltd
AMRZ
$25B
$297M 4.6%
+6,122,319
New +$312M
RKT icon
7
Rocket Companies
RKT
$39.4B
$267M 4.14%
+13,795,000
New +$241M
CLF icon
8
Cleveland-Cliffs
CLF
$6.43B
$241M 3.73%
19,753,245
+4,036,800
+26% +$42.4M
WBD icon
9
Warner Bros
WBD
$71.6B
$231M 3.57%
11,804,700
-9,523,300
-45% -$130M
NUE icon
10
Nucor
NUE
$55.3B
$208M 3.22%
+1,537,300
New +$218M
NOK icon
11
Nokia
NOK
$57B
$177M 2.75%
36,887,202
-1,641,153
-4% -$7.42M
ARWR icon
12
Arrowhead Research
ARWR
$12.3B
$172M 2.66%
4,982,000
-250,000
-5% -$5.5M
EXE
13
Expand Energy Corp
EXE
$22.2B
$172M 2.66%
1,615,714
+497,900
+45% +$50M
WDC icon
14
Western Digital
WDC
$166B
$170M 2.63%
1,416,237
-4,621,854
-77% -$378M
TEVA icon
15
Teva Pharmaceuticals
TEVA
$43.5B
$160M 2.48%
7,927,998
-362,000
-4% -$6.36M
STX icon
16
Seagate
STX
$193B
$156M 2.41%
658,867
-1,689,139
-72% -$288M
GTLB icon
17
GitLab
GTLB
$7.04B
$142M 2.2%
+3,155,000
New +$144M
UPST icon
18
Upstart Holdings
UPST
$2.95B
$139M 2.15%
+2,731,974
New +$192M
IP icon
19
International Paper
IP
$22B
$131M 2.02%
2,817,750
+3,550
+0.1% +$173K
PAAS icon
20
Pan American Silver
PAAS
$22B
$124M 1.91%
3,194,800
-1,522,200
-32% -$48.9M
AER icon
21
AerCap
AER
$23B
$124M 1.91%
1,021,644
-89,768
-8% -$10.5M
AAL icon
22
American Airlines Group
AAL
$9.15B
$112M 1.74%
9,981,794
+2,927,200
+41% +$36M
PSKY
23
Paramount Skydance Corp
PSKY
$11.6B
$112M 1.73%
+5,925,693
New +$93.7M
UAL icon
24
United Airlines
UAL
$36.7B
$112M 1.73%
1,158,172
+4,900
+0.4% +$471K
COIN icon
25
Coinbase
COIN
$49.2B
$110M 1.7%
326,180
-94,600
-22% -$32.1M
1
2 3

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David Greenspan's Q3 2025 Portfolio in Review

As of Q3 2025, David Greenspan held 62 positions worth $6.46B, up 11% from $5.8B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

David Greenspan withdrew a net $705M in Q3 2025, closing 11 positions and reducing 20 holdings. Its most notable exit was Micron Technology, an estimated $318M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 49% a quarter earlier, followed by Materials and Industrials.

Against the trend, David Greenspan opened a new position in Union Pacific worth $386M.

  • David Greenspan's largest Q3 2025 buy was Union Pacific: 1,631,600 shares worth $386M.
  • David Greenspan added most to EQT Corp in Q3 2025, an estimated $182M increase.
  • David Greenspan's biggest Q3 2025 reduction was Western Digital, cutting an estimated $378M.
  • David Greenspan fully exited Micron Technology in Q3 2025, selling an estimated $318M.
  • David Greenspan's ten largest holdings make up 48% of its $6.46B portfolio in Q3 2025.
  • David Greenspan opened 19 new positions and closed 11 in Q3 2025.
  • David Greenspan's portfolio value rose 11% quarter-over-quarter to $6.46B.

Based on Slate Path Capital's 13F filing for Q3 2025, filed 14 Nov 2025.