Slate Path Capital LP

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Slate Path Capital LP maintained a portfolio of 66 distinct positions. The most significant new addition to the portfolio was ON SEMICONDUCTOR COR, which now represents 7.65% of the total fund value. They heavily accumulated shares in HEWLETT PACKARD ENTE, increasing their position by 39.3%. The fund also reduced its exposure to BARRICK MNG CORP by 89.7%.
PCA Score Concentration Risk
Risk ENB
Total Positions
66
Quarter
2025 Q4
Top Holding
HPE (7.9%)
Top 10 Concentration
50.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 66
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
HPE
HEWLETT PACKARD...
Technology 7.90% 6.65% #1
Prev: #1
7.7 6,887,100 39.3%
P
S
24,396,242 $585,997,733 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ON
ON SEMICONDUCTO...
Technology 7.65% #2
Prev: #—
8.1 10,480,200 no change
NEW
10,480,200 $567,502,830 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
RKT
ROCKET COS INC
Financial Services 6.71% 4.14% #3 4
Prev: #7
6.7 11,894,300 86.2%
P
S
25,689,300 $497,344,848 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
U
UNITY SOFTWARE ...
Technology 4.89% 6.62% #4 2
Prev: #2
2.5 -2,490,100 -23.3%
P
S
8,200,752 $362,227,216 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EQT
EQT CORP
Energy 4.53% 5.00% #5 1
Prev: #4
4.3 332,800 5.6%
P
S
6,272,388 $336,199,997 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AMRZ
AMRIZE LTD
Basic Materials 4.27% 4.60% #6
Prev: #6
2.2 -263,200 -4.3%
P
S
5,859,119 $316,861,156 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CLF
CLEVELAND-CLIFF...
Basic Materials 4.01% 3.73% #7 1
Prev: #8
3.6 2,663,036 13.5%
P
S
22,416,281 $297,688,212 2014 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NUE
NUCOR CORP
Basic Materials 3.66% 3.22% #8 2
Prev: #10
3.5 126,870 8.3%
P
S
1,664,170 $271,442,769 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FCX
FREEPORT-MCMORA...
Basic Materials 3.53% #9
Prev: #—
4.9 5,155,000 no change
NEW
5,155,000 $261,822,450 2019 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
HUM
HUMANA INC
Healthcare 3.29% #10
Prev: #—
4.8 953,000 no change
NEW
953,000 $244,091,890 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GTLB
GITLAB INC
Technology 3.02% 2.20% #11 6
Prev: #17
4.2 2,818,800 89.3%
P
S
5,973,800 $224,196,714 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
KNX
KNIGHT-SWIFT TR...
Industrials 3.02% #12
Prev: #—
4.7 4,285,700 no change
NEW
4,285,700 $224,056,396 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TWLO
TWILIO INC
Technology 3.00% 0.70% #13 27
Prev: #40
4.2 1,107,700 243.5%
P
S
1,562,600 $222,264,224 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
NOK
NOKIA CORP
Technology 2.94% 2.75% #14 3
Prev: #11
1.7 -3,200,600 -8.7%
P
S
33,686,602 $217,952,315 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
UAL
UNITED AIRLS HL...
Industrials 2.85% 1.73% #15 9
Prev: #24
4.1 731,780 63.2%
P
S
1,889,952 $211,334,433 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DAL
DELTA AIR LINES...
Industrials 2.74% 1.52% #16 10
Prev: #26
4.1 1,192,400 68.7%
P
S
2,927,048 $203,137,131 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
UNP
UNION PAC CORP
Industrials 2.34% 5.97% #17 14
Prev: #3
0.9 -881,396 -54.0%
P
S
750,204 $173,537,189 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
EXE
EXPAND ENERGY C...
Energy 2.33% 2.66% #18 5
Prev: #13
1.4 -48,200 -3.0%
P
S
1,567,514 $172,990,845 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GFS
GLOBALFOUNDRIES...
Technology 2.29% 0.98% #19 16
Prev: #35
3.9 3,086,900 174.5%
P
S
4,856,000 $169,571,520 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ARWR
ARROWHEAD PHARM...
Healthcare 2.26% 2.66% #20 8
Prev: #12
0.9 -2,458,500 -49.3%
P
S
2,523,500 $167,535,165 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Q
QNITY ELECTRONI...
Technology 2.11% #21
Prev: #—
4.3 1,916,800 no change
NEW
1,916,800 $156,506,720 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AAL
AMERICAN AIRLS ...
Industrials 1.87% 1.74% #22
Prev: #22
1.2 -947,400 -9.5%
P
S
9,034,394 $138,497,260 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
STM
STMICROELECTRON...
Technology 1.85% #23
Prev: #—
4.2 5,280,500 no change
NEW
5,280,500 $136,976,170 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AER
AERCAP HOLDINGS...
Industrials 1.82% 1.91% #24 3
Prev: #21
1.2 -83,500 -8.2%
P
S
938,144 $134,867,581 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
JAMES HARDIE IN...
Unknown 1.50% 0.68% #25 16
Prev: #41
3.6 3,083,434 135.2%
P
S
5,364,500 $111,313,375 13F Filing 2025-12-31 2026-02-14 (Est.)
IP
INTERNATIONAL P...
Consumer Cyclical 1.37% 2.02% #26 7
Prev: #19
1.0 -240,674 -8.5%
P
S
2,577,076 $101,511,024 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GEV
GE VERNOVA INC
Industrials 1.05% 1.31% #27
Prev: #27
0.9 -18,200 -13.3%
P
S
119,158 $77,878,094 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GLW
CORNING INC
Technology 1.03% 1.30% #28
Prev: #28
0.9 -153,000 -14.9%
P
S
871,200 $76,282,272 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FIGR
FIGURE TECHNOLO...
Financial Services 1.02% #29
Prev: #—
3.9 1,853,900 no change
NEW
1,853,900 $75,713,276 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NKE
NIKE INC
Consumer Cyclical 0.95% #30
Prev: #—
3.9 1,106,400 no change
NEW
1,106,400 $70,488,744 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PAAS
PAN AMERN SILVE...
Basic Materials 0.93% 1.91% #31 11
Prev: #20
0.4 -1,860,520 -58.2%
P
S
1,334,280 $69,129,047 2018 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PSKY
PARAMOUNT SKYDA...
Communication Services 0.92% 1.73% #32 9
Prev: #23
0.9 -832,400 -14.0%
P
S
5,093,293 $68,250,126 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
APTV
APTIV PLC
Consumer Cyclical 0.92% 1.19% #33 1
Prev: #32
0.9 2,277 0.3%
P
S
896,277 $68,197,717 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AMBA
AMBARELLA INC
Technology 0.78% #34
Prev: #—
3.8 814,400 no change
NEW
814,400 $57,692,096 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
COIN
COINBASE GLOBAL...
Financial Services 0.77% 1.70% #35 10
Prev: #25
0.3 -74,200 -22.7%
P
S
251,980 $56,982,757 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
WDC
WESTERN DIGITAL...
Technology 0.75% 2.63% #36 22
Prev: #14
0.3 -1,094,959 -77.3%
P
S
321,278 $55,346,561 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FISV
FISERV INC
Unknown 0.66% #37
Prev: #—
3.8 727,400 no change
NEW
727,400 $48,859,458 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WHR
WHIRLPOOL CORP
Consumer Cyclical 0.42% 1.01% #38 4
Prev: #34
0.2 -396,300 -47.7%
P
S
433,700 $31,287,118 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NVTS
NAVITAS SEMICON...
Technology 0.28% #39
Prev: #—
3.6 2,880,200 no change
NEW
2,880,200 $20,564,628 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
STUB
STUBHUB HLDGS I...
Communication Services 0.27% #40
Prev: #—
3.6 1,459,200 no change
NEW
1,459,200 $19,742,976 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
LULU
LULULEMON ATHLE...
Consumer Cyclical 0.25% #41
Prev: #—
3.6 88,600 no change
NEW
88,600 $18,411,966 2017 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
OUST
OUSTER INC
Technology 0.24% 0.35% #42 2
Prev: #44
1.1 no change no change
P
S
829,000 $17,939,560 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CSX
CSX CORP
Industrials 0.23% #43
Prev: #—
3.6 479,800 no change
NEW
479,800 $17,392,750 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
B
BARRICK MNG COR...
Basic Materials 0.15% 1.29% #44 15
Prev: #29
0.1 -2,286,282 -89.7%
P
S
263,552 $11,477,690 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NAMS
NEWAMSTERDAM PH...
Healthcare 0.15% 0.14% #45 3
Prev: #48
1.1 no change no change
P
S
319,000 $11,190,520 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NEM
NEWMONT CORP
Basic Materials 0.15% 1.27% #46 16
Prev: #30
0.1 -865,276 -88.8%
P
S
108,936 $10,877,260 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NYT
NEW YORK TIMES ...
Communication Services 0.13% 0.25% #47 1
Prev: #46
0.1 -137,300 -49.7%
P
S
139,039 $9,652,087 2018 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
KRE
SPDR SERIES TRU...
Unknown 0.11% #48
Prev: #—
3.5 130,003 no change
NEW
130,003 $8,425,494 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TVRD
TVARDI THERAPEU...
Healthcare 0.04% 0.42% #49 6
Prev: #43
1.0 no change no change
P
S
704,118 $3,027,707 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
LAB
STANDARD BIOTOO...
Healthcare 0.03% 0.03% #50
Prev: #50
1.0 no change no change
P
S
1,615,000 $2,067,200 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-50 of 66 holdings

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