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SPC

Slate Path Capital Portfolio holdings

AUM $7.22B
1-Year Est. Return 110.75%
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
+5,767.8%
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
Avg Time Held
4.3 quarters
Top 10 Avg Time Held
1 quarter
Top 20 Avg Time Held
2.7 quarters

Top Buys

Rank Stock Value
1
UNP icon
Union Pacific
UNP
+$368M
2
AMRZ icon
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 icon
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 Held Since
DAL icon
26
Delta Air Lines
DAL
$52.3B
$98.4M 1.52%
1,734,648
-28,250
-2% -$1.61M
2024 Q2
5 quarters
GEV icon
27
GE Vernova
GEV
$267B
$84.5M 1.31%
137,358
-88,440
-39% -$53.6M
2024 Q1
6 quarters
GLW icon
28
Corning
GLW
$128B
$84M 1.3%
1,024,200
-1,853,800
-64% -$121M
2024 Q3
4 quarters
B icon
29
Barrick Mining
B
$66.7B
$83.6M 1.29%
2,549,834
-4,729,166
-65% -$120M
2025 Q1
2 quarters
NEM icon
30
Newmont
NEM
$122B
$82.1M 1.27%
974,212
-1,840,788
-65% -$128M
2025 Q1
2 quarters
GE icon
31
GE Aerospace
GE
$319B
$77.2M 1.2%
256,792
-164,208
-39% -$44.9M
2023 Q1
10 quarters
APTV icon
32
Aptiv
APTV
$9.19B
$77.1M 1.19%
+894,000
New +$67.4M
2025 Q3
0 quarters
STNE icon
33
StoneCo
STNE
$2.72B
$71.5M 1.11%
3,778,541
-415,000
-10% -$6.6M
2022 Q4
11 quarters
WHR icon
34
Whirlpool
WHR
$1.91B
$65.2M 1.01%
+830,000
New +$76.2M
2025 Q3
0 quarters
GFS icon
35
GlobalFoundries
GFS
$26B
$63.4M 0.98%
+1,769,100
New +$63.1M
2025 Q3
0 quarters
DOW icon
36
Dow Inc
DOW
$20.6B
$56.5M 0.87%
+2,465,500
New +$61.4M
2025 Q3
0 quarters
LYB icon
37
LyondellBasell Industries
LYB
$19.4B
$55.3M 0.86%
+1,126,800
New +$63.6M
2025 Q3
0 quarters
SNAP icon
38
Snap
SNAP
$11B
$51.7M 0.8%
+6,706,200
New +$55.6M
2025 Q3
0 quarters
RUN icon
39
Sunrun
RUN
$1.88B
$47.3M 0.73%
+2,733,850
New +$36.6M
2025 Q3
0 quarters
TWLO icon
40
Twilio
TWLO
$43.2B
$45.5M 0.7%
+454,900
New +$51.2M
2025 Q3
0 quarters
JHX icon
41
James Hardie Industries
JHX
$14.3B
$43.8M 0.68%
+2,281,066
New +$54.6M
2025 Q3
0 quarters
UWMC icon
42
UWM Holdings
UWMC
$355M
$28.3M 0.44%
+4,654,000
New +$24.4M
2025 Q3
0 quarters
TVRD icon
43
Tvardi Therapeutics
TVRD
$13.9M
$27.4M 0.42%
704,118
– –
2025 Q2
1 quarter
OUST icon
44
Ouster
OUST
$2.55B
$22.4M 0.35%
+829,000
New +$23.1M
2025 Q3
0 quarters
SBSW icon
45
Sibanye-Stillwater
SBSW
$7.01B
$21.6M 0.33%
1,919,000
– –
2025 Q2
1 quarter
NYT icon
46
New York Times
NYT
$10.8B
$15.9M 0.25%
276,339
-68,900
-20% -$3.93M
2018 Q1
30 quarters
LEN icon
47
Lennar Class A
LEN
$17.8B
$15.6M 0.24%
+124,102
New +$15.4M
2025 Q3
0 quarters
NAMS icon
48
NewAmsterdam Pharma
NAMS
$2.41B
$9.07M 0.14%
319,000
– –
2024 Q4
3 quarters
SW icon
49
Smurfit Westrock
SW
$21.7B
$7.96M 0.12%
187,000
-70,400
-27% -$3.19M
2024 Q4
3 quarters
LAB icon
50
Standard BioTools
LAB
$259M
$2.1M 0.03%
1,615,000
– –
2024 Q1
6 quarters
1
2
3

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Slate Path Capital's Q3 2025 Portfolio in Review

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

Slate Path Capital 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, Slate Path Capital opened a new position in Union Pacific worth $386M.

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