Slate Path Capital Portfolio holdings
Slate Path Capital runs hedge funds that go long and short on stocks around the world, with sizeable positions in other assets too. The firm was established in 2012 and is owned by David Greenspan and JADES GP, a company in which Greenspan is the principal owner. Its stock picking rests on company research, and it aims for long-term growth adjusted for risk. Its two main funds use significant leverage and concentrated positions, and the firm can also trade digital assets such as Bitcoin and Ethereum. One group of its funds avoids long positions in fossil fuel assets.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TripAdvisor
TRIP
|
+$83.9M |
| 2 |
Live Nation Entertainment
LYV
|
+$61.1M |
| 3 |
US Steel
X
|
+$54.6M |
| 4 |
CF Industries
CF
|
+$53.4M |
| 5 |
Advance Auto Parts
AAP
|
+$45.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$128M |
| 2 |
ANDV
Andeavor
ANDV
|
+$110M |
| 3 |
Ally Financial
ALLY
|
+$62.5M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$49M |
| 5 |
Insulet
PODD
|
+$4.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.07% |
| 2 | Consumer Discretionary | 20.95% |
| 3 | Healthcare | 13.9% |
| 4 | Financials | 9.93% |
| 5 | Industrials | 7.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
TWTR
1
DELISTED
Twitter, Inc.
TWTR
| $261M | 13.74% |
15,485,000
+345,000
| +2% | +$6.02M |
2016 Q4
3 quarters
|
|
2
Charter Communications
CHTR
$15.8B
| $220M | 11.56% |
605,000
| – | – |
2013 Q2
17 quarters
|
|
|
3
Ally Financial
ALLY
$11.5B
| $189M | 9.93% |
7,780,000
-2,800,000
| -26% | -$62.5M |
2016 Q4
3 quarters
|
|
|
TIF
4
DELISTED
Tiffany & Co.
TIF
| $161M | 8.47% |
1,755,000
+240,000
| +16% | +$22M |
2017 Q1
2 quarters
|
|
|
5
Insulet
PODD
$10.6B
| $150M | 7.88% |
2,720,000
-75,000
| -3% | -$4.1M |
2015 Q1
10 quarters
|
|
|
6
Advance Auto Parts
AAP
$2.75B
| $148M | 7.8% |
1,495,000
+450,000
| +43% | +$45.4M |
2016 Q3
4 quarters
|
|
7
Avis
CAR
$4.43B
| $130M | 6.83% |
3,410,000
+310,000
| +10% | +$10.4M |
2017 Q2
1 quarter
|
|
8
DXC Technology
DXC
$2.29B
| $97.5M | 5.13% |
1,312,060
+300,560
| +30% | +$21.3M |
2017 Q2
1 quarter
|
|
|
9
TripAdvisor
TRIP
$853M
| $83.7M | 4.4% |
+2,065,000
| New | +$83.9M |
2017 Q3
0 quarters
|
|
10
DELISTED
Pandora Media Inc
P
| $79.2M | 4.16% |
10,280,000
+4,775,000
| +87% | +$41M |
2017 Q2
1 quarter
|
|
|
11
Live Nation Entertainment
LYV
$42.1B
| $68.6M | 3.61% |
+1,575,000
| New | +$61.1M |
2017 Q3
0 quarters
|
|
|
12
Alnylam Pharmaceuticals
ALNY
$22.1B
| $65.9M | 3.47% |
561,000
-574,000
| -51% | -$49M |
2013 Q2
17 quarters
|
|
|
13
CF Industries
CF
$18.3B
| $60.8M | 3.2% |
+1,730,000
| New | +$53.4M |
2017 Q3
0 quarters
|
|
|
14
DELISTED
US Steel
X
| $57.2M | 3.01% |
+2,230,000
| New | +$54.6M |
2017 Q3
0 quarters
|
|
15
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $53.4M | 2.81% |
212,500
-1,537,500
| -88% | -$379M |
2017 Q2
1 quarter
|
|
|
MDCO
16
DELISTED
Medicines Co
MDCO
| $41.1M | 2.16% |
1,110,000
+565,000
| +104% | +$20.8M |
2017 Q1
2 quarters
|
|
|
17
VanEck Gold Miners ETF
GDX
$25.3B
| $8.68M | 0.46% |
378,000
-5,542,000
| -94% | -$128M |
2015 Q3
8 quarters
|
|
18
Global X Silver Miners ETF NEW
SIL
$3.71B
| $7.39M | 0.39% |
+224,000
| New | +$7.56M |
2017 Q3
0 quarters
|
|
19
lululemon athletica
LULU
$12.2B
| $5.35M | 0.28% |
+86,000
| New | +$5.18M |
2017 Q3
0 quarters
|
|
20
DexCom
DXCM
$31.1B
| $4.55M | 0.24% |
+372,000
| New | +$6.58M |
2017 Q3
0 quarters
|
|
|
ATCO
21
DELISTED
Atlas Corp.
ATCO
| $3.19M | 0.17% |
450,000
| – | – |
2017 Q1
2 quarters
|
|
22
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $3.11M | 0.16% |
+159,989
| New | +$2.52M |
2017 Q3
0 quarters
|
|
|
IPXL
23
DELISTED
Impax Laboratories, Inc.
IPXL
| $2.94M | 0.15% |
+145,000
| New | +$2.77M |
2017 Q3
0 quarters
|
|
24
CALL
Invesco QQQ Trust
QQQ
$467B
| – | – |
-4,000,000
| Closed | -$551M | – |
|
|
ANDV
25
DELISTED
Andeavor
ANDV
| – | – |
-1,180,000
| Closed | -$110M | – |
|
Similar funds
Slate Path Capital's Q3 2017 Portfolio in Review
As of Q3 2017, Slate Path Capital held 25 positions worth $1.9B, down 28% from $2.63B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Slate Path Capital deployed $90.6M of net new capital in Q3 2017, opening 9 new positions and adding to 7 existing holdings. Its largest new stake was TripAdvisor: 2,065,000 shares worth $83.7M.
By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 20% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was VanEck Gold Miners ETF, an estimated $128M trimmed.
- Slate Path Capital's largest Q3 2017 buy was TripAdvisor: 2,065,000 shares worth $83.7M.
- Slate Path Capital added most to Advance Auto Parts in Q3 2017, an estimated $45.4M increase.
- Slate Path Capital's biggest Q3 2017 reduction was VanEck Gold Miners ETF, cutting an estimated $128M.
- Slate Path Capital fully exited Andeavor in Q3 2017, selling an estimated $110M.
- Slate Path Capital's ten largest holdings make up 80% of its $1.9B portfolio in Q3 2017.
- Slate Path Capital opened 9 new positions and closed 2 in Q3 2017.
- Slate Path Capital's portfolio value fell 28% quarter-over-quarter to $1.9B.
Based on Slate Path Capital's 13F filing for Q3 2017, filed 14 Nov 2017.