Slate Path Capital LP
Long book
$6.73B
Q1 2026
Positions
44
Top-10 weight
54%
concentration
Last quarter
+35.6%
SPY +14.8%
Turnover
44%
of book per quarter
Strategy in plain words
auto-generated from filingsSlate Path Capital LP is a diversified fundamental manager, running a $6.73B US long book across 44 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: HEWLETT PACKARD ENTERPRISE, TEXAS INSTRUMENTS INC, ON SEMICONDUCTOR, NUCOR CORP, ROCKET COS INC-CLASS A.
Over the last 9 quarters its long book ran on average 8.8pp per quarter ahead of the S&P 500, beating the index in 8 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.9%
Q2 2024
+6.6%
Q3 2024
+6.9%
Q4 2024
-5.4%
Q1 2025
+17.1%
Q2 2025
+42.1%
Q3 2025
+15.8%
Q4 2025
-4.0%
Q1 2026
+35.6%
Sector allocation
Technology 44%
Industrials 30%
Financials 8%
Energy 7%
Materials 6%
Services media 2%
Other 2%
Communications 1%
Long book by quarter
What does Slate Path own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| HPE HEWLETT PACKARD ENTERPRISE | Technology | 23.3M | $553.7M | 8.2% | -4.7% |
| TXN TEXAS INSTRUMENTS INC | Technology | 2.7M | $518.4M | 7.7% | New |
| ON ON SEMICONDUCTOR | Technology | 7.8M | $482.9M | 7.2% | -25.6% |
| NUE NUCOR CORP | Industrials | 2.0M | $345.2M | 5.1% | +22.7% |
| RKT ROCKET COS INC-CLASS A | Financials | 23.2M | $329.9M | 4.9% | -9.9% |
| Q QNITY ELECTRONICS INC | Technology | 2.5M | $287.3M | 4.3% | +29.9% |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 3.1M | $286.6M | 4.3% | +64.7% |
| KNX KNIGHT-SWIFT TRANSPORTATION | Industrials | 4.6M | $265.9M | 3.9% | +7.8% |
| U UNITY SOFTWARE INC | Technology | 11.3M | $249.0M | 3.7% | +38.4% |
| EQT EQT CORP | Energy | 3.9M | $247.3M | 3.7% | -38.0% |
| GFS GLOBALFOUNDRIES INC | Technology | 5.0M | $224.3M | 3.3% | +3.8% |
| STM STMICROELECTRONICS NV-NY SHS | Technology | 6.1M | $211.6M | 3.1% | +16.0% |
| AMRZ AMRIZE LTD | Industrials | 3.8M | $210.2M | 3.1% | -35.9% |
| FCX FREEPORT-MCMORAN INC | Materials | 3.5M | $203.9M | 3.0% | -32.7% |
| RIG TRANSOCEAN LTD | Energy | 30.1M | $199.3M | 3.0% | New |
| DAL DELTA AIR LINES INC | Industrials | 3.0M | $197.2M | 2.9% | +1.3% |
| UNP UNION PACIFIC CORP | Industrials | 732.8K | $177.8M | 2.6% | -2.3% |
| CLF CLEVELAND-CLIFFS INC | Materials | 19.2M | $162.6M | 2.4% | -14.2% |
| AER AERCAP HOLDINGS NV | Services media | 974.5K | $133.7M | 2.0% | +3.9% |
| IP INTERNATIONAL PAPER CO | Other | 3.4M | $120.7M | 1.8% | +31.1% |
| SAIA SAIA INC | Industrials | 308.0K | $108.2M | 1.6% | New |
| GEV GE VERNOVA INC | Industrials | 116.6K | $101.7M | 1.5% | -2.2% |
| JHX JAMES HARDIE IND PLC | Industrials | 5.4M | $101.6M | 1.5% | Held |
| TWLO TWILIO INC - A | Technology | 742.8K | $93.5M | 1.4% | -52.5% |
| HUM HUMANA INC | Financials | 459.7K | $79.7M | 1.2% | -51.8% |
| AAL AMERICAN AIRLINES GROUP INC | Industrials | 6.5M | $69.5M | 1.0% | -28.4% |
| WOLF WOLFSPEED INC | Technology | 4.4M | $68.5M | 1.0% | New |
| FIGR FIGURE TECHNOLOGY SOLUT-CL A | Financials | 2.0M | $68.0M | 1.0% | +8.0% |
| PSKY PARAMOUNT SKYDANCE CL B | Communications | 7.5M | $67.8M | 1.0% | +47.5% |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 263.4K | $46.0M | 0.7% | +4.5% |
| SEDG SOLAREDGE TECHNOLOGIES INC | Technology | 736.7K | $37.6M | 0.6% | New |
| WHR WHIRLPOOL CORP | Industrials | 662.3K | $35.7M | 0.5% | +52.7% |
| ENPH ENPHASE ENERGY INC | Technology | 909.9K | $34.4M | 0.5% | New |
| SNAP SNAP INC - A | Technology | 7.3M | $33.5M | 0.5% | New |
| TE T1 ENERGY INC | Technology | 6.3M | $27.6M | 0.4% | New |
| XPO XPO INC | Industrials | 100.6K | $19.6M | 0.3% | New |
| EXE EXPAND ENERGY CORP | Energy | 133.6K | $14.7M | 0.2% | -91.5% |
| NAMS NEWAMSTERDAM PHARMA CO NV | Healthcare | 319.0K | $10.2M | 0.2% | Held |
| STUB STUBHUB HOLDINGS INC-CLASS A | Services media | 1.5M | $9.1M | 0.1% | Held |
| SW SMURFIT WESTROCK PLC | Other | 186.7K | $7.4M | 0.1% | New |
| TVRD TVARDI THERAPEUTICS INC | Healthcare | 704.1K | $2.2M | 0.0% | Held |
| LAB STANDARD BIOTOOLS INC | Healthcare | 1.6M | $1.5M | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 44 | $6.73B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 51 | $7.41B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 51 | $6.46B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 43 | $5.80B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 50 | $5.54B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 51 | $5.53B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 68 | $6.49B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 62 | $5.25B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 62 | $5.04B | canonical | SEC ↗ |
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