Slate Path Capital LP

New York, NY · CIK 1559706 · 13F filing filed 2025-08-14

SEC-registered investment adviser since 2012 · limited partnership

Assets managed$12.0bn
Staff25 · 12 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (2 hedge) · $12.0bn gross assets
Websiteslatepathcapital.com
Form ADV · 2026-07-30SEC adviser record

Legal entitySLATE PATH CAPITAL LP (US)

$5.8bn reported value +4.8% vs Q1 2025

43positions

50.3%in top 10

7 new 6 added 18 reduced 14 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	UNITY SOFTWARE INC COM U	U	20,016,952	$484.4m8.35%	8.35%	Added +4.0m	+4,048,484 25.4%
2	WESTERN DIGITAL CORP COM WDC	WDC	6,038,091	$386.4m6.66%	6.66%	Reduced -1.6m	-1,632,800 -21.3%
3	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	2,348,006	$338.9m5.84%	5.84%	Reduced -1.1m	-1,095,700 -31.8%
4	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	15,896,242	$325.1m5.60%	5.60%	Added +4.2m	+4,221,678 36.2%
5	MICRON TECHNOLOGY INC COM MU	MU	2,578,100	$317.8m5.48%	5.48%	New
6	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	21,328,000	$244.4m4.21%	4.21%	Reduced -792.0k	-792,000 -3.6%
7	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	3,937,200	$217.8m3.76%	3.76%	Reduced -2.0m	-1,967,000 -33.3%
8	SANDISK CORP COM SNDK	SNDK	4,738,618	$214.9m3.70%	3.70%	Added +144.3k	+144,267 3.1%
9	NOKIA CORP SPONSORED ADR NOK	NOK	38,528,355	$199.6m3.44%	3.44%	Unchanged
10	CISCO SYS INC COM CSCO	CSCO	2,682,470	$186.1m3.21%	3.21%	Reduced -1.1m	-1,078,902 -28.7%
11	PARAMOUNT GLOBAL CLASS B COM CLASS B COM		13,723,323	$177.0m3.05%	3.05%	Unchanged
12	NEWMONT CORP COM NEM	NEM	2,815,000	$164.0m2.83%	2.83%	Reduced -370.0k	-370,000 -11.6%
13	BARRICK MNG CORP COM SHS B	B	7,279,000	$151.5m2.61%	2.61%	New
14	CORNING INC COM GLW	GLW	2,878,000	$151.4m2.61%	2.61%	Unchanged
15	COINBASE GLOBAL INC COM CL A COIN	COIN	420,780	$147.5m2.54%	2.54%	New
16	EQT CORP COM EQT	EQT	2,493,688	$145.4m2.51%	2.51%	Reduced -223.0k	-223,000 -8.2%
17	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		8,289,998	$138.9m2.40%	2.40%	Reduced -1.4m	-1,366,000 -14.2%
18	PAN AMERN SILVER CORP COM PAAS	PAAS	4,717,000	$134.0m2.31%	2.31%	Unchanged
19	INTERNATIONAL PAPER CO COM IP	IP	2,814,200	$131.8m2.27%	2.27%	Reduced -280.0k	-280,000 -9.1%
20	EXPAND ENERGY CORPORATION COM EXE	EXE	1,117,814	$130.7m2.25%	2.25%	Reduced -44.0k	-44,000 -3.8%
21	AERCAP HOLDINGS NV SHS AER	AER	1,111,412	$130.0m2.24%	2.24%	Reduced -188.8k	-188,788 -14.5%
22	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	2,364,000	$123.1m2.12%	2.12%	New
23	GE VERNOVA INC COM GEV	GEV	225,798	$119.5m2.06%	2.06%	Reduced -120.8k	-120,810 -34.9%
24	CLEVELAND-CLIFFS INC NEW COM CLF	CLF	15,716,445	$119.4m2.06%	2.06%	Reduced -6.2m	-6,248,555 -28.4%
25	TECK RESOURCES LTD CL B TECK	TECK	2,708,533	$109.4m1.89%	1.89%	Unchanged
26	ADVANCED MICRO DEVICES INC COM AMD	AMD	763,824	$108.4m1.87%	1.87%	Added +156.3k	+156,324 25.7%
27	GE AEROSPACE COM NEW GE	GE	421,000	$108.4m1.87%	1.87%	Reduced -15.5k	-15,500 -3.5%
28	UNITED AIRLS HLDGS INC COM UAL	UAL	1,153,272	$91.8m1.58%	1.58%	Added +15.4k	+15,400 1.4%
29	DELTA AIR LINES INC DEL COM NEW DAL	DAL	1,762,898	$86.7m1.49%	1.49%	Reduced -126.4k	-126,400 -6.7%
30	ARROWHEAD PHARMACEUTICALS IN COM ARWR	ARWR	5,232,000	$82.7m1.43%	1.43%	Unchanged
31	AMERICAN AIRLS GROUP INC COM AAL	AAL	7,054,594	$79.2m1.36%	1.36%	Reduced -1.7m	-1,684,000 -19.3%
32	STONECO LTD COM CL A STNE	STNE	4,193,541	$67.3m1.16%	1.16%	Reduced -715.0k	-715,000 -14.6%
33	ANTERO RESOURCES CORP COM AR	AR	1,148,359	$46.3m0.80%	0.80%	Reduced -201.9k	-201,861 -14.9%
34	INTEL CORP COM INTC	INTC	1,592,000	$35.7m0.61%	0.61%	New
35	AIR LEASE CORP CL A AL	AL	394,600	$23.1m0.40%	0.40%	Added +6.7k	+6,700 1.7%
36	NEW YORK TIMES CO CL A NYT	NYT	345,239	$19.3m0.33%	0.33%	Unchanged
37	TVARDI THERAPEUTICS INC COM TVRD	TVRD	704,118	$16.4m0.28%	0.28%	New
38	SIBANYE STILLWATER LTD SPONSORED ADR SBSW	SBSW	1,919,000	$13.9m0.24%	0.24%	New
39	NEXTRACKER INC CLASS A COM NXT	NXT	238,900	$13.0m0.22%	0.22%	Unchanged
40	SMURFIT WESTROCK PLC SHS SW	SW	257,400	$11.1m0.19%	0.19%	Unchanged
41	NEWAMSTERDAM PHARMA COMPANY ORDINARY SHARES NAMS	NAMS	319,000	$5.8m0.10%	0.10%	Unchanged
42	STANDARD BIOTOOLS INC COM LAB	LAB	1,615,000	$1.9m0.03%	0.03%	Unchanged
43	AURORA INNOVATION INC *W EXP 11/03/202 AUROW	AUROW	437,500	$380.6k0.01%	0.01%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
ALIBABA GROUP HLDG LTD BABA	BABA	2,036,000	$269.2m2.0m shares
AKAMAI TECHNOLOGIES INC AKAM	AKAM	1,411,249	$113.6m1.4m shares
TWILIO INC TWLO	TWLO	1,106,000	$108.3m1.1m shares
KRANESHARES TRUST KWEB	KWEB	2,696,393	$94.1m2.7m shares
CONFLUENT INC CFLT	CFLT	3,580,000	$83.9m3.6m shares
ALCOA CORP AA	AA	2,735,211	$83.4m2.7m shares
JD.COM INC JD	JD	1,416,165	$58.2m1.4m shares
NIKE INC NKE	NKE	857,000	$54.4m857.0k shares
KE HLDGS INC BEKE	BEKE	2,539,359	$51.0m2.5m shares
BARRICK GOLD CORP		2,164,000	$42.1m2.2m shares
UNITED STATES STL CORP NEW X	X	971,000	$41.0m971.0k shares
IRHYTHM TECHNOLOGIES INC IRTC	IRTC	365,400	$38.3m365.4k shares
CIVITAS RESOURCES INC CIVI	CIVI	982,935	$34.3m982.9k shares
BAIDU INC BIDU	BIDU	371,300	$34.2m371.3k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
WOLFSPEED INC WOLF · 13G · filed 2026-05-15	WOLF	10.0%≈ $310.6m	new	13G	2026-05-15
TVARDI THERAPEUTICS INC TVRD · 13G · filed 2025-08-14	TVRD	7.5%≈ $1.3m	new	13G	2025-08-14