Slate Path Capital LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Slate Path Capital LP reported 49 stock positions worth $5.5 billion. Its top holding was Unity Software (U) at 5.7% of the portfolio, followed by Western Digital (WDC, 5.6%) and Seagate Technology (STX, 5.3%). Compared with Q4 2024, it opened 9 new positions, sold out of 11, added to 16 and reduced 18. The biggest buy was Unity Software (U, shares +475%) and the biggest sale an exit from Ciena (CIEN).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001559706
- Portfolio Value
- $5.5B (Q1 2025)
- SEC Filing
- 0001172661-25-002091 ↗ filed May 15, 2025
Holdings Value
Holdings 49 stocks · $5.5B
| U Unity Software Inc. | 5.65% | 15,968,468 | $312.8M | Add +475.1% |
| WDC Western Digital Corp. | 5.60% | 7,670,891 | $310.1M | Add +14.6% |
| STX Seagate Technology Holdings | 5.28% | 3,443,706 | $292.5M | No change |
| BABA Alibaba Group Holding-SP ADR | 4.86% | 2,036,000 | $269.2M | Add +38.9% |
| WBD Warner Bros Discovery Inc. | 4.29% | 22,120,000 | $237.3M | Reduce -7.1% |
| CSCO Cisco Systems Inc. | 4.19% | 3,761,372 | $232.1M | Reduce -13.8% |
| SNDK Sandisk Corp. | 3.95% | 4,594,351 | $218.7M | Add +106.1% |
| NOK Nokia Corp.-Spon ADR | 3.67% | 38,528,355 | $203.0M | Add +26.6% |
| CLF Cleveland-Cliffs Inc. | 3.26% | 21,965,000 | $180.6M | Add +35.5% |
| HPE Hewlett Packard Enterprise | 3.25% | 11,674,564 | $180.1M | Reduce -8.0% |
| IP International Paper Co. | 2.98% | 3,094,200 | $165.1M | Add +62.0% |
| PARAA Paramount Global Class B | 2.96% | 13,723,323 | $164.1M | Add +9.0% |
| NEM Newmont Corp. | 2.78% | 3,185,000 | $153.8M | New |
| TEVA Teva Pharmaceutical-SP ADR | 2.68% | 9,655,998 | $148.4M | Add +13.7% |
| EQT Eqt Corp. | 2.62% | 2,716,688 | $145.2M | Add +1.4% |
| AER Aercap Holdings NV | 2.40% | 1,300,200 | $132.8M | Reduce -6.7% |
| GLW Corning Inc. | 2.38% | 2,878,000 | $131.8M | Reduce -30.0% |
| EXE Expand Energy Corp. | 2.34% | 1,161,814 | $129.3M | Add +2.5% |
| NBIS Nebius Group NV | 2.25% | 5,904,200 | $124.6M | Add +57.6% |
| PAAS Pan American Silver Corp. | 2.20% | 4,717,000 | $121.8M | No change |
| AKAM Akamai Technologies Inc. | 2.05% | 1,411,249 | $113.6M | New |
| TWLO Twilio Inc. Class A | 1.96% | 1,106,000 | $108.3M | New |
| GEV GE Vernova Inc. | 1.91% | 346,608 | $105.8M | Add +1.9% |
| TECK Teck Resources Ltd.-CLS B | 1.78% | 2,708,533 | $98.7M | Reduce -22.4% |
| KWEB Kranesh Csi China Internet | 1.70% | 2,696,393 | $94.1M | Reduce -34.4% |
| AAL American Airlines Group Inc. | 1.67% | 8,738,594 | $92.2M | Reduce -39.1% |
| GE General Electric filed as GE AEROSPACE | 1.58% | 436,500 | $87.4M | Reduce -10.8% |
| CFLT Confluent Inc. Class A | 1.52% | 3,580,000 | $83.9M | New |
| AA Alcoa Corp. | 1.51% | 2,735,211 | $83.4M | Reduce -25.7% |
| DAL Delta Air Lines Inc. | 1.49% | 1,889,298 | $82.4M | Reduce -36.5% |
| UAL United Airlines Holdings Inc. | 1.42% | 1,137,872 | $78.6M | Reduce -43.4% |
| ARWR Arrowhead Pharmaceuticals Inc. | 1.20% | 5,232,000 | $66.7M | No change |
| AMD Advanced Micro Devices | 1.13% | 607,500 | $62.4M | New |
| JD Jd.com Inc.-ADR | 1.05% | 1,416,165 | $58.2M | Reduce -47.3% |
| AR Antero Resources Corp. | 0.99% | 1,350,220 | $54.6M | Add +33.4% |
| NKE Nike Inc. Class B | 0.98% | 857,000 | $54.4M | New |
| STNE Stoneco Ltd. Class A | 0.93% | 4,908,541 | $51.4M | Reduce -26.4% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.92% | 2,539,359 | $51.0M | Reduce -48.2% |
| B Barrick Gold Corp. | 0.76% | 2,164,000 | $42.1M | New |
| X United States Steel Corp. | 0.74% | 971,000 | $41.0M | New |
| IRTC Irhythm Holdings Inc. | 0.69% | 365,400 | $38.3M | Reduce -28.4% |
| CIVI Civitas Resources Inc. | 0.62% | 982,935 | $34.3M | Reduce -36.6% |
| BIDU Baidu Inc. - Spon ADR | 0.62% | 371,300 | $34.2M | Add +72.6% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.34% | 387,900 | $18.7M | No change |
| NYT New York Times Co. Class A | 0.31% | 345,239 | $17.1M | Reduce -77.1% |
| SW Smurfit Westrock PLC | 0.21% | 257,400 | $11.6M | Add +54.1% |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.18% | 238,900 | $10.1M | New |
| NAMS Newamsterdam Pharma Co. NV | 0.12% | 319,000 | $6.5M | No change |
| LAB Standard Biotools Inc. | 0.03% | 1,615,000 | $1.7M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $617K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AUROW Aurora Innovation Inc. -CW28 | *W EXP 11/03/202 | 437,500 | $617K | No change |
Total filed on the 13F, all lines: $5.5B.
Portfolio Sells Q4 2024 → Q1 2025
| CIEN Ciena Corp. | Sold out | 0.00% | −3.34 |
| AAL American Airlines Group Inc. | Reduce -39.1% | 1.67% | −2.85 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −2.45 |
| UAL United Airlines Holdings Inc. | Reduce -43.4% | 1.42% | −2.11 |
| DAL Delta Air Lines Inc. | Reduce -36.5% | 1.49% | −1.77 |
| HPE Hewlett Packard Enterprise | Reduce -8.0% | 3.25% | −1.64 |
| GLW Corning Inc. | Reduce -30.0% | 2.38% | −1.15 |
| NYT New York Times Co. Class A | Reduce -77.1% | 0.31% | −1.11 |
| GME Gamestop Corp. Class A | Sold out | 0.00% | −1.09 |
| AA Alcoa Corp. | Reduce -25.7% | 1.51% | −1.01 |
| GDXJ Vaneck Junior Gold Miners | Sold out | 0.00% | −1.00 |
| TECK Teck Resources Ltd.-CLS B | Reduce -22.4% | 1.78% | −0.78 |
| BEKE Ke Holdings Inc.-ADR | Reduce -48.2% | 0.92% | −0.71 |
| CIVI Civitas Resources Inc. | Reduce -36.6% | 0.62% | −0.67 |
| SKYW Skywest Inc. | Sold out | 0.00% | −0.64 |
| JD Jd.com Inc.-ADR | Reduce -47.3% | 1.05% | −0.63 |
| GRAB Grab Holdings Ltd. Class A | Sold out | 0.00% | −0.51 |
| CSCO Cisco Systems Inc. | Reduce -13.8% | 4.19% | −0.48 |
| KWEB Kranesh Csi China Internet | Reduce -34.4% | 1.70% | −0.47 |
| LUV Southwest Airlines Co. | Sold out | 0.00% | −0.33 |
| WBD Warner Bros Discovery Inc. | Reduce -7.1% | 4.29% | −0.26 |
| JBLU Jetblue Airways Corp. | Sold out | 0.00% | −0.23 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Sold out | 0.00% | −0.18 |
| IRTC Irhythm Holdings Inc. | Reduce -28.4% | 0.69% | −0.14 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.14 |
| TDW Tidewater Inc. | Sold out | 0.00% | −0.06 |
| STNE Stoneco Ltd. Class A | Reduce -26.4% | 0.93% | −0.03 |
| AER Aercap Holdings NV | Reduce -6.7% | 2.40% | −0.01 |
| GE General Electric | Reduce -10.8% | 1.58% | +0.10 |
Portfolio Buys Q4 2024 → Q1 2025
| U Unity Software Inc. | Add +475.1% | 5.65% | +4.52 |
| NEM Newmont Corp. | New | 2.78% | +2.78 |
| BABA Alibaba Group Holding-SP ADR | Add +38.9% | 4.86% | +2.62 |
| AKAM Akamai Technologies Inc. | New | 2.05% | +2.05 |
| SNDK Sandisk Corp. | Add +106.1% | 3.95% | +2.03 |
| TWLO Twilio Inc. Class A | New | 1.96% | +1.96 |
| CFLT Confluent Inc. Class A | New | 1.52% | +1.52 |
| NOK Nokia Corp.-Spon ADR | Add +26.6% | 3.67% | +1.23 |
| AMD Advanced Micro Devices | New | 1.13% | +1.13 |
| IP International Paper Co. | Add +62.0% | 2.98% | +1.12 |
| NKE Nike Inc. Class B | New | 0.98% | +0.98 |
| B Barrick Gold Corp. | New | 0.76% | +0.76 |
| X United States Steel Corp. | New | 0.74% | +0.74 |
| PARAA Paramount Global Class B | Add +9.0% | 2.96% | +0.58 |
| CLF Cleveland-Cliffs Inc. | Add +35.5% | 3.26% | +0.51 |
| EQT Eqt Corp. | Add +1.4% | 2.62% | +0.39 |
| NBIS Nebius Group NV | Add +57.6% | 2.25% | +0.38 |
| AR Antero Resources Corp. | Add +33.4% | 0.99% | +0.34 |
| EXE Expand Energy Corp. | Add +2.5% | 2.34% | +0.30 |
| BIDU Baidu Inc. - Spon ADR | Add +72.6% | 0.62% | +0.29 |
| NXT Nextpower Inc. | New | 0.18% | +0.18 |
| SW Smurfit Westrock PLC | Add +54.1% | 0.21% | +0.05 |
| GEV GE Vernova Inc. | Add +1.9% | 1.91% | −0.11 |
| TEVA Teva Pharmaceutical-SP ADR | Add +13.7% | 2.68% | −0.70 |
| WDC Western Digital Corp. | Add +14.6% | 5.60% | −1.62 |
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 |