# Slate Path Capital LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1559706. Source: https://holderbook.com/funds/1559706-slate-path-capital-lp/

- Reported value: $7.2B
- Positions: 40
- Weight of the ten largest: 55.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $626.3M | 2,302,604 | 8.7% | 4 |
| UNITY SOFTWARE INC | [U](https://holderbook.com/stocks/U/) | $459.4M | 16,075,152 | 6.4% | 7 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $452.2M | 3,325,452 | 6.3% | 9 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $429.0M | 1,079,930 | 5.9% | 3 |
| STMICROELECTRONICS N V | [STM](https://holderbook.com/stocks/STM/) | $392.4M | 5,239,714 | 5.4% | 3 |
| RIVIAN AUTOMOTIVE INC | [RIVN](https://holderbook.com/stocks/RIVN/) | $381.3M | 21,978,400 | 5.3% | 1 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $351.0M | 7,781,642 | 4.9% | 11 |
| FEDEX FGHT HLDG CO INC | - | $339.3M | 2,247,200 | 4.7% | 1 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $282.4M | 3,015,048 | 3.9% | 9 |
| NUCOR CORP | [NUE](https://holderbook.com/stocks/NUE/) | $280.4M | 1,258,770 | 3.9% | 4 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $278.2M | 4,423,300 | 3.9% | 3 |
| CLEVELAND-CLIFFS INC NEW | [CLF](https://holderbook.com/stocks/CLF/) | $266.8M | 28,410,081 | 3.7% | 12 |
| KNIGHT-SWIFT TRANSN HLDGS IN | [KNX](https://holderbook.com/stocks/KNX/) | $265.6M | 3,411,000 | 3.7% | 3 |
| WOLFSPEED INC | [WOLF](https://holderbook.com/stocks/WOLF/) | $214.1M | 4,438,156 | 3.0% | 2 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $190.6M | 4,009,200 | 2.6% | 1 |
| INTERNATIONAL PAPER CO | [IP](https://holderbook.com/stocks/IP/) | $185.2M | 4,861,976 | 2.6% | 7 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $182.2M | 37,266,300 | 2.5% | 2 |
| APTIV PLC | [APTV](https://holderbook.com/stocks/APTV/) | $162.7M | 2,650,115 | 2.3% | 1 |
| JAMES HARDIE INDS PLC | [JHX](https://holderbook.com/stocks/JHX/) | $157.6M | 6,021,000 | 2.2% | 4 |
| AMERICAN AIRLINES GROUP INC | [AAL](https://holderbook.com/stocks/AAL/) | $149.6M | 8,276,584 | 2.1% | 9 |
| ROBLOX CORP | [RBLX](https://holderbook.com/stocks/RBLX/) | $149.3M | 2,746,300 | 2.1% | 1 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $147.7M | 495,521 | 2.0% | 2 |
| AKAMAI TECHNOLOGIES INC | [AKAM](https://holderbook.com/stocks/AKAM/) | $141.5M | 1,196,800 | 2.0% | 1 |
| ENPHASE ENERGY INC | [ENPH](https://holderbook.com/stocks/ENPH/) | $127.4M | 2,587,170 | 1.8% | 2 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $120.0M | 1,269,323 | 1.7% | 3 |
| CARMAX INC | [KMX](https://holderbook.com/stocks/KMX/) | $96.7M | 1,827,700 | 1.3% | 1 |
| PARAMOUNT SKYDANCE CORP | [PSKY](https://holderbook.com/stocks/PSKY/) | $74.1M | 7,512,784 | 1.0% | 4 |
| FIGURE TECHNOLOGY SOLUTIO | [FIGR](https://holderbook.com/stocks/FIGR/) | $61.5M | 2,002,100 | 0.9% | 3 |
| GDS HLDGS LTD | [GDS](https://holderbook.com/stocks/GDS/) | $45.1M | 1,501,100 | 0.6% | 1 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $38.5M | 263,379 | 0.5% | 5 |
| CIRCLE INTERNET GROUP INC | [CRCL](https://holderbook.com/stocks/CRCL/) | $35.5M | 567,300 | 0.5% | 1 |
| SNAP INC | [SNAP](https://holderbook.com/stocks/SNAP/) | $32.4M | 7,287,400 | 0.4% | 2 |
| WHIRLPOOL CORP | [WHR](https://holderbook.com/stocks/WHR/) | $26.1M | 662,300 | 0.4% | 4 |
| HYPERLIQUID STRATEGIES INC | [PURR](https://holderbook.com/stocks/PURR/) | $21.4M | 2,719,000 | 0.3% | 1 |
| XPO INC | [XPO](https://holderbook.com/stocks/XPO/) | $20.7M | 100,600 | 0.3% | 2 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $15.9M | 13,519 | 0.2% | 10 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $11.8M | 28,300 | 0.2% | 1 |
| NEWAMSTERDAM PHARMA COMPANY | [NAMS](https://holderbook.com/stocks/NAMS/) | $10.8M | 319,000 | 0.1% | 7 |
| TVARDI THERAPEUTICS INC | [TVRD](https://holderbook.com/stocks/TVRD/) | $1.3M | 704,118 | 0.0% | 5 |
| AURORA INNOVATION INC | [AUROW](https://holderbook.com/stocks/AUROW/) | $140.0K | 437,500 | 0.0% | 19 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +40.9% | +14.8% | +26.1% | 100% |
| Q1 2026 | -4.1% | -4.6% | +0.5% | 100% |
| Q4 2025 | +15.6% | +2.4% | +13.3% | 100% |
| Q3 2025 | +41.6% | +7.8% | +33.8% | 100% |
| Q2 2025 | +19.2% | +10.5% | +8.7% | 100% |
| Q1 2025 | -6.7% | -4.6% | -2.1% | 100% |
| Q4 2024 | +4.5% | +2.1% | +2.4% | 93% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 96% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $7.2B | 40 |
| Q1 2026 | $6.7B | 44 |
| Q4 2025 | $7.4B | 51 |
| Q3 2025 | $6.5B | 51 |
| Q2 2025 | $5.8B | 43 |
| Q1 2025 | $5.5B | 50 |
| Q4 2024 | $5.5B | 51 |
| Q3 2024 | $6.5B | 63 |
| Q2 2024 | $5.3B | 59 |
| Q1 2024 | $5.0B | 62 |
| Q4 2023 | $4.5B | 59 |
| Q3 2023 | $3.6B | 50 |