In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Slate Path Capital LP reported 39 stock positions worth $7.2 billion . Its top holding was Union Pacific (UNP) at 8.7% of the portfolio, followed by Unity Software (U, 6.4% ) and United Airlines (UAL, 6.3% ). Compared with Q1 2026, it opened 11 new positions, sold out of 15, added to 12 and reduced 7. The biggest buy was Union Pacific (UNP, shares +214% ) and the biggest sale Texas Instruments (TXN, shares −81% ).
Location New York, NY
CIK 0001559706
Portfolio Value $7.2B (Q2 2026) Holdings 39 stocks · $7.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 UNP Union Pacific Corp. 2,302,604 $626.3M Add +214.2% U Unity Software Inc. 16,075,152 $459.4M Add +41.6% UAL United Airlines Holdings Inc. 3,325,452 $452.2M Add +6.8% HUM Humana Inc. 1,079,930 $429.0M Add +134.9% STM Stmicroelectronics NV-NY SHS 5,239,714 $392.4M Reduce -14.5% RIVN Rivian Automotive Inc. Class A 21,978,400 $381.3M New HPE Hewlett Packard Enterprise 7,781,642 $351.0M Reduce -66.5% FDXF FedEx Freight Holding Co. 2,247,200 $339.3M New DAL Delta Air Lines Inc. 3,015,048 $282.4M Add +1.6% NUE Nucor Corp. 1,258,770 $280.4M Reduce -38.3% FCX Freeport-McMoran Inc. 4,423,300 $278.2M Add +27.5% CLF Cleveland-Cliffs Inc. 28,410,081 $266.8M Add +47.6% KNX Knight-Swift Transportation 3,411,000 $265.6M Reduce -26.1% WOLF Wolfspeed Inc. 4,438,156 $214.1M No change CSX CSX Corp. 4,009,200 $190.6M New IP International Paper Co. 4,861,976 $185.2M Add +43.9% RIG Transocean Ltd. 37,266,300 $182.2M Add +24.0% APTV Aptiv PLC 2,650,115 $162.7M New JHX James Hardie Ind PLC 6,021,000 $157.6M Add +12.2% AAL American Airlines Group Inc. 8,276,584 $149.6M Add +27.9% RBLX Roblox Corp. Class A 2,746,300 $149.3M New TXN Texas Instruments Inc. 495,521 $147.7M Reduce -81.4% AKAM Akamai Technologies Inc. 1,196,800 $141.5M New ENPH Enphase Energy Inc. 2,587,170 $127.4M Add +184.3% ON On Semiconductor 1,269,323 $120.0M Reduce -83.7% KMX Carmax Inc. 1,827,700 $96.7M New PSKY Paramount Skydance Class B 7,512,784 $74.1M No change FIGR Figure Technology Solut Class A 2,002,100 $61.5M No change GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 1,501,100 $45.1M New COIN Coinbase Global Inc. Class A 263,379 $38.5M No change CRCL Circle Internet Group Inc. 567,300 $35.5M New SNAP Snap Inc. Class A 7,287,400 $32.4M No change WHR Whirlpool Corp. 662,300 $26.1M No change PURR Hyperliquid Strategies 2,719,000 $21.4M New XPO Xpo Inc. 100,600 $20.7M No change GEV GE Vernova Inc. 13,519 $15.9M Reduce -88.4% UNH Unitedhealth Group Inc. 28,300 $11.8M New NAMS Newamsterdam Pharma Co. NV 319,000 $10.8M No change TVRD Tvardi Therapeutics Inc. 704,118 $1.3M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $140K (not counted above) Security Class Shares / Principal Value Change AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 437,500 $140K No change
Total filed on the 13F, all lines: $7.2B.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ TXN Texas Instruments Inc. Reduce -81.4% 2.04% −5.65 ON On Semiconductor Reduce -83.7% 1.66% −5.51 RKT Rocket Cos Inc. Class A Sold out 0.00% −4.90 NOK Nokia Corp.-Spon ADR Sold out 0.00% −4.28 Q Qnity Electronics Inc. Sold out 0.00% −4.27 EQT Eqt Corp. Sold out 0.00% −3.67 HPE Hewlett Packard Enterprise Reduce -66.5% 4.86% −3.36 GFS Globalfoundries Inc. Sold out 0.00% −3.33 AMRZ Amrize Ltd. Sold out 0.00% −3.12 AER Aercap Holdings NV Sold out 0.00% −1.99 SAIA Saia Inc. Sold out 0.00% −1.61 TWLO Twilio Inc. Class A Sold out 0.00% −1.39 GEV GE Vernova Inc. Reduce -88.4% 0.22% −1.29 NUE Nucor Corp. Reduce -38.3% 3.88% −1.25 SEDG Solaredge Technologies Inc. Sold out 0.00% −0.56 TE T1 Energy Inc. Sold out 0.00% −0.41 KNX Knight-Swift Transportation Reduce -26.1% 3.68% −0.27 EXE Expand Energy Corp. Sold out 0.00% −0.22 STUB Stubhub Holdings Inc. Class A Sold out 0.00% −0.14 SW Smurfit Westrock PLC Sold out 0.00% −0.11 LAB Standard Biotools Inc. Sold out 0.00% −0.02 STM Stmicroelectronics NV-NY SHS Reduce -14.5% 5.43% +2.29
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ UNP Union Pacific Corp. Add +214.2% 8.67% +6.03 RIVN Rivian Automotive Inc. Class A New 5.28% +5.28 HUM Humana Inc. Add +134.9% 5.94% +4.75 FDXF FedEx Freight Holding Co. New 4.70% +4.70 U Unity Software Inc. Add +41.6% 6.36% +2.66 CSX CSX Corp. New 2.64% +2.64 APTV Aptiv PLC New 2.25% +2.25 RBLX Roblox Corp. Class A New 2.07% +2.07 UAL United Airlines Holdings Inc. Add +6.8% 6.26% +2.00 AKAM Akamai Technologies Inc. New 1.96% +1.96 KMX Carmax Inc. New 1.34% +1.34 CLF Cleveland-Cliffs Inc. Add +47.6% 3.69% +1.28 ENPH Enphase Energy Inc. Add +184.3% 1.76% +1.25 AAL American Airlines Group Inc. Add +27.9% 2.07% +1.04 DAL Delta Air Lines Inc. Add +1.6% 3.91% +0.98 FCX Freeport-McMoran Inc. Add +27.5% 3.85% +0.82 IP International Paper Co. Add +43.9% 2.56% +0.77 JHX James Hardie Ind PLC Add +12.2% 2.18% +0.67 GDS GDS Holdings Ltd. - ADR New 0.62% +0.62 CRCL Circle Internet Group Inc. New 0.49% +0.49 PURR Hyperliquid Strategies New 0.30% +0.30 UNH Unitedhealth Group Inc. New 0.16% +0.16 RIG Transocean Ltd. Add +24.0% 2.52% −0.44
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 39 $7.2B UNP, U, UAL, HUM, STM Q1 2026 43 $6.7B HPE, TXN, ON, NUE, RKT Q4 2025 50 $7.4B HPE, ON, RKT, U, EQT Q3 2025 50 $6.5B HPE, U, UNP, EQT, SNDK Q2 2025 42 $5.8B U, WDC, STX, HPE, MU Q1 2025 49 $5.5B U, WDC, STX, BABA, WBD Q4 2024 50 $5.5B WDC, STX, HPE, CSCO, WBD Q3 2024 61 $6.0B WDC, STX, DAL, UAL, TEVA Q2 2024 55 $4.9B TEVA, STX, WDC, HPE, SE Q1 2024 59 $5.0B TEVA, WDC, STX, GDX, TECK