Slate Path Capital 13F, Q3 2025
David Greenspan · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1559706
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 51 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| HEWLETT PACKARD ENTERPRISE C | HPE | $430.02M | 6.7% | +10% shares |
| UNITY SOFTWARE INC | U | $428.06M | 6.6% | -47% shares |
| UNION PAC CORP | UNP | $385.66M | 6.0% | new |
| EQT CORP | EQT | $323.29M | 5.0% | +138% shares |
| SANDISK CORP | SNDK | $302.23M | 4.7% | -43% shares |
| AMRIZE LTD | $297.12M | 4.6% | new | |
| ROCKET COS INC | RKT | $267.35M | 4.1% | new |
| CLEVELAND-CLIFFS INC NEW | CLF | $240.99M | 3.7% | +26% shares |
| WARNER BROS DISCOVERY INC | WBD | $230.55M | 3.6% | -45% shares |
| NUCOR CORP | NUE | $208.20M | 3.2% | new |
| NOKIA CORP | NOK | $177.43M | 2.8% | -4% shares |
| ARROWHEAD PHARMACEUTICALS IN | ARWR | $171.83M | 2.7% | -5% shares |
| EXPAND ENERGY CORPORATION | EXE | $171.65M | 2.7% | +45% shares |
| WESTERN DIGITAL CORP | WDC | $170.03M | 2.6% | -77% shares |
| TEVA PHARMACEUTICAL INDS LTD | TEVA | $160.15M | 2.5% | -4% shares |
| SEAGATE TECHNOLOGY HLDNGS PL | $155.53M | 2.4% | -72% shares | |
| GITLAB INC | GTLB | $142.23M | 2.2% | new |
| UPSTART HLDGS INC | UPST | $138.78M | 2.1% | new |
| INTERNATIONAL PAPER CO | IP | $130.74M | 2.0% | unchanged |
| PAN AMERN SILVER CORP | PAAS | $123.73M | 1.9% | -32% shares |
| AERCAP HOLDINGS NV | $123.62M | 1.9% | -8% shares | |
| AMERICAN AIRLS GROUP INC | AAL | $112.20M | 1.7% | +42% shares |
| PARAMOUNT SKYDANCE CORP | PSKY | $112.11M | 1.7% | new |
| UNITED AIRLS HLDGS INC | UAL | $111.76M | 1.7% | unchanged |
| COINBASE GLOBAL INC | COIN | $110.08M | 1.7% | -23% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Slate Path Capital opened 19 new positions, added to 5, trimmed 19, left 8 unchanged and exited 11. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-25-004945, filed by Slate Path Capital LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.