Slate Path Capital LP
New York, NY
$7.2bn in 40 US stocks at the end of 30 June 2026. The top 10 are 55.3% of the money. It changed about 48.3% of the portfolio this quarter.
Value
$7.2bn
Stocks
40
Top 10 share
55.3%
Turnover
48.3%
What changed this quarter
New
Bought for the first time this quarter.
- Rivian AutomotiveRIVN5.3% of the fund
- FedEx Freight Holding CompanyFDXF4.7% of the fund
- CSXCSX2.6% of the fund
- AptivAPTV2.3% of the fund
- RobloxRBLX2.1% of the fund
- Akamai TechnologiesAKAM2.0% of the fund
- CarMaxKMX1.3% of the fund
- GDS HldgsGDS0.6% of the fund
- Circle Internet GroupCRCL0.5% of the fund
- Hyperliquid StrategiesPURR0.3% of the fund
- UnitedHealth GroupUNH0.2% of the fund
Added
Bought more of a stock they already held.
- Union PacificUNP8.7% of the fund+214%
- Unity SoftwareU6.4% of the fund+42%
- United Airlines HoldingsUAL6.3% of the fund+7%
- HumanaHUM5.9% of the fund+135%
- Freeport-McMoRanFCX3.9% of the fund+28%
- Cleveland-CliffsCLF3.7% of the fund+48%
- International PaperIP2.6% of the fund+44%
- TransoceanRIG2.5% of the fund+24%
- James Hardie IndustriesJHX2.2% of the fund+12%
- American Airlines GroupAAL2.1% of the fund+28%
- Enphase EnergyENPH1.8% of the fund+184%
Cut
Sold some of their stake.
- STMicroelectronicsSTM5.4% of the fund-14%
- Hewlett Packard EnterpriseHPE4.9% of the fund-67%
- NucorNUE3.9% of the fund-38%
- Knight-Swift Transportation HoldingsKNX3.7% of the fund-26%
- Texas InstrumentsTXN2.0% of the fund-81%
- ON SemiconductorON1.7% of the fund-84%
- GE VernovaGEV0.2% of the fund-88%
Sold out
Sold their entire stake.
- Rocket CompaniesRKT-100%
- NokiaNOK-100%
- Qnity ElectronicsQ-100%
- EQTEQT-100%
- GlobalfoundriesGFS-100%
- AmrizeAMRZ-100%
- AerCap HoldingsAER-100%
- SaiaSAIA-100%
- TwilioTWLO-100%
- Solaredge TechnologiesSEDG-100%
- T1 EnergyTE-100%
- Expand EnergyEXE-100%
- StubHub HoldingsSTUB-100%
- Smurfit WestrockSW-100%
- Standard BiotoolsLAB-100%
Holdings
- GDS HldgsGDS
- Share
- 0.6%
- Value
- $45m
- Shares
- 1,501,100
New
- Aurora InnovationAUROW
- Share
- <0.1%
- Value
- $140,044
- Shares
- 437,500
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Union PacificUNP | 8.7% | $626m | 2,302,604 | +214% |
| Unity SoftwareU | 6.4% | $459m | 16,075,152 | +42% |
| United Airlines HoldingsUAL | 6.3% | $452m | 3,325,452 | +7% |
| HumanaHUM | 5.9% | $429m | 1,079,930 | +135% |
| STMicroelectronicsSTM | 5.4% | $392m | 5,239,714 | -14% |
| Rivian AutomotiveRIVN | 5.3% | $381m | 21,978,400 | New |
| Hewlett Packard EnterpriseHPE | 4.9% | $351m | 7,781,642 | -67% |
| FedEx Freight Holding CompanyFDXF | 4.7% | $339m | 2,247,200 | New |
| Delta Air LinesDAL | 3.9% | $282m | 3,015,048 | Held |
| NucorNUE | 3.9% | $280m | 1,258,770 | -38% |
| Freeport-McMoRanFCX | 3.9% | $278m | 4,423,300 | +28% |
| Cleveland-CliffsCLF | 3.7% | $267m | 28,410,081 | +48% |
| Knight-Swift Transportation HoldingsKNX | 3.7% | $266m | 3,411,000 | -26% |
| WolfspeedWOLF | 3.0% | $214m | 4,438,156 | Held |
| CSXCSX | 2.6% | $191m | 4,009,200 | New |
| International PaperIP | 2.6% | $185m | 4,861,976 | +44% |
| TransoceanRIG | 2.5% | $182m | 37,266,300 | +24% |
| AptivAPTV | 2.3% | $163m | 2,650,115 | New |
| James Hardie IndustriesJHX | 2.2% | $158m | 6,021,000 | +12% |
| American Airlines GroupAAL | 2.1% | $150m | 8,276,584 | +28% |
| RobloxRBLX | 2.1% | $149m | 2,746,300 | New |
| Texas InstrumentsTXN | 2.0% | $148m | 495,521 | -81% |
| Akamai TechnologiesAKAM | 2.0% | $141m | 1,196,800 | New |
| Enphase EnergyENPH | 1.8% | $127m | 2,587,170 | +184% |
| ON SemiconductorON | 1.7% | $120m | 1,269,323 | -84% |
| CarMaxKMX | 1.3% | $97m | 1,827,700 | New |
| Paramount SkydancePSKY | 1.0% | $74m | 7,512,784 | Held |
| Figure Technology SolutionsFIGR | 0.9% | $61m | 2,002,100 | Held |
| GDS HldgsGDS | 0.6% | $45m | 1,501,100 | New |
| Coinbase GlobalCOIN | 0.5% | $39m | 263,379 | Held |
| Circle Internet GroupCRCL | 0.5% | $36m | 567,300 | New |
| SnapSNAP | 0.4% | $32m | 7,287,400 | Held |
| WhirlpoolWHR | 0.4% | $26m | 662,300 | Held |
| Hyperliquid StrategiesPURR | 0.3% | $21m | 2,719,000 | New |
| XPOXPO | 0.3% | $21m | 100,600 | Held |
| GE VernovaGEV | 0.2% | $16m | 13,519 | -88% |
| UnitedHealth GroupUNH | 0.2% | $12m | 28,300 | New |
| NewAmsterdam PharmaNAMS | 0.1% | $11m | 319,000 | Held |
| Tvardi TherapeuticsTVRD | <0.1% | $1m | 704,118 | Held |
| Aurora InnovationAUROW | <0.1% | $140,044 | 437,500 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 24.5% since 30 June 2025.
Where the money is
Industrials32.4%
Technology29.6%
Materials16.2%
Retail & consumer9.2%
Health care6.3%
Energy2.5%
Financial services2.2%
Media & telecom1.0%
Other0.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.