Slate Path Capital LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Slate Path Capital LP reported 42 stock positions worth $5.8 billion. Its top holding was Unity Software (U) at 8.4% of the portfolio, followed by Western Digital (WDC, 6.7%) and Seagate Technology (STX, 5.8%). Compared with Q1 2025, it opened 6 new positions, sold out of 13, added to 7 and reduced 18. The biggest buy was a new position in Micron Technology (MU) and the biggest sale an exit from Alibaba Group Holding-SP ADR (BABA).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001559706
- Portfolio Value
- $5.8B (Q2 2025)
- SEC Filing
- 0001172661-25-003338 ↗ filed Aug 14, 2025
Holdings Value
Holdings 42 stocks · $5.8B
| U Unity Software Inc. | 8.35% | 20,016,952 | $484.4M | Add +25.4% |
| WDC Western Digital Corp. | 6.66% | 6,038,091 | $386.4M | Reduce -21.3% |
| STX Seagate Technology Holdings | 5.84% | 2,348,006 | $338.9M | Reduce -31.8% |
| HPE Hewlett Packard Enterprise | 5.61% | 15,896,242 | $325.1M | Add +36.2% |
| MU Micron Technology Inc. | 5.48% | 2,578,100 | $317.8M | New |
| WBD Warner Bros Discovery Inc. | 4.21% | 21,328,000 | $244.4M | Reduce -3.6% |
| NBIS Nebius Group NV | 3.76% | 3,937,200 | $217.8M | Reduce -33.3% |
| SNDK Sandisk Corp. | 3.71% | 4,738,618 | $214.9M | Add +3.1% |
| NOK Nokia Corp.-Spon ADR | 3.44% | 38,528,355 | $199.6M | No change |
| CSCO Cisco Systems Inc. | 3.21% | 2,682,470 | $186.1M | Reduce -28.7% |
| PARAA Paramount Global Class B | 3.05% | 13,723,323 | $177.0M | No change |
| NEM Newmont Corp. | 2.83% | 2,815,000 | $164.0M | Reduce -11.6% |
| B Barrick Mining Corp. | 2.61% | 7,279,000 | $151.5M | Add +236.4% |
| GLW Corning Inc. | 2.61% | 2,878,000 | $151.4M | No change |
| COIN Coinbase Global Inc. Class A | 2.54% | 420,780 | $147.5M | New |
| EQT Eqt Corp. | 2.51% | 2,493,688 | $145.4M | Reduce -8.2% |
| TEVA Teva Pharmaceutical-SP ADR | 2.40% | 8,289,998 | $138.9M | Reduce -14.2% |
| PAAS Pan American Silver Corp. | 2.31% | 4,717,000 | $134.0M | No change |
| IP International Paper Co. | 2.27% | 2,814,200 | $131.8M | Reduce -9.1% |
| EXE Expand Energy Corp. | 2.25% | 1,117,814 | $130.7M | Reduce -3.8% |
| AER Aercap Holdings NV | 2.24% | 1,111,412 | $130.0M | Reduce -14.5% |
| GDX Vaneck Gold Miners ETF | 2.12% | 2,364,000 | $123.1M | New |
| GEV GE Vernova Inc. | 2.06% | 225,798 | $119.5M | Reduce -34.9% |
| CLF Cleveland-Cliffs Inc. | 2.06% | 15,716,445 | $119.4M | Reduce -28.4% |
| TECK Teck Resources Ltd.-CLS B | 1.89% | 2,708,533 | $109.4M | No change |
| AMD Advanced Micro Devices | 1.87% | 763,824 | $108.4M | Add +25.7% |
| GE General Electric filed as GE AEROSPACE | 1.87% | 421,000 | $108.4M | Reduce -3.5% |
| UAL United Airlines Holdings Inc. | 1.58% | 1,153,272 | $91.8M | Add +1.4% |
| DAL Delta Air Lines Inc. | 1.49% | 1,762,898 | $86.7M | Reduce -6.7% |
| ARWR Arrowhead Pharmaceuticals Inc. | 1.43% | 5,232,000 | $82.7M | No change |
| AAL American Airlines Group Inc. | 1.36% | 7,054,594 | $79.2M | Reduce -19.3% |
| STNE Stoneco Ltd. Class A | 1.16% | 4,193,541 | $67.3M | Reduce -14.6% |
| AR Antero Resources Corp. | 0.80% | 1,148,359 | $46.3M | Reduce -14.9% |
| INTC Intel Corp. | 0.61% | 1,592,000 | $35.7M | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.40% | 394,600 | $23.1M | Add +1.7% |
| NYT New York Times Co. Class A | 0.33% | 345,239 | $19.3M | No change |
| TVRD Tvardi Therapeutics Inc. | 0.28% | 704,118 | $16.4M | New |
| SBSW Sibanye-Stillwater Ltd.-ADR | 0.24% | 1,919,000 | $13.9M | New |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.22% | 238,900 | $13.0M | No change |
| SW Smurfit Westrock PLC | 0.19% | 257,400 | $11.1M | No change |
| NAMS Newamsterdam Pharma Co. NV | 0.10% | 319,000 | $5.8M | No change |
| LAB Standard Biotools Inc. | 0.03% | 1,615,000 | $1.9M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $381K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AUROW Aurora Innovation Inc. -CW28 | *W EXP 11/03/202 | 437,500 | $381K | No change |
Total filed on the 13F, all lines: $5.8B.
Portfolio Sells Q1 2025 → Q2 2025
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −4.86 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −2.05 |
| TWLO Twilio Inc. Class A | Sold out | 0.00% | −1.96 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −1.70 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −1.52 |
| AA Alcoa Corp. | Sold out | 0.00% | −1.51 |
| CLF Cleveland-Cliffs Inc. | Reduce -28.4% | 2.06% | −1.20 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −1.05 |
| CSCO Cisco Systems Inc. | Reduce -28.7% | 3.21% | −0.98 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.98 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −0.92 |
| X United States Steel Corp. | Sold out | 0.00% | −0.74 |
| IP International Paper Co. | Reduce -9.1% | 2.27% | −0.71 |
| IRTC Irhythm Holdings Inc. | Sold out | 0.00% | −0.69 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.62 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.62 |
| AAL American Airlines Group Inc. | Reduce -19.3% | 1.36% | −0.30 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -14.2% | 2.40% | −0.29 |
| AR Antero Resources Corp. | Reduce -14.9% | 0.80% | −0.19 |
| AER Aercap Holdings NV | Reduce -14.5% | 2.24% | −0.16 |
| EQT Eqt Corp. | Reduce -8.2% | 2.51% | −0.11 |
| EXE Expand Energy Corp. | Reduce -3.8% | 2.25% | −0.08 |
| WBD Warner Bros Discovery Inc. | Reduce -3.6% | 4.21% | −0.07 |
| DAL Delta Air Lines Inc. | Reduce -6.7% | 1.49% | +0.01 |
| NEM Newmont Corp. | Reduce -11.6% | 2.83% | +0.05 |
| GEV GE Vernova Inc. | Reduce -34.9% | 2.06% | +0.15 |
| STNE Stoneco Ltd. Class A | Reduce -14.6% | 1.16% | +0.23 |
| GE General Electric | Reduce -3.5% | 1.87% | +0.29 |
| STX Seagate Technology Holdings | Reduce -31.8% | 5.84% | +0.56 |
| WDC Western Digital Corp. | Reduce -21.3% | 6.66% | +1.06 |
| NBIS Nebius Group NV | Reduce -33.3% | 3.76% | +1.50 |
Portfolio Buys Q1 2025 → Q2 2025
| MU Micron Technology Inc. | New | 5.48% | +5.48 |
| U Unity Software Inc. | Add +25.4% | 8.35% | +2.70 |
| COIN Coinbase Global Inc. Class A | New | 2.54% | +2.54 |
| HPE Hewlett Packard Enterprise | Add +36.2% | 5.61% | +2.35 |
| GDX Vaneck Gold Miners ETF | New | 2.12% | +2.12 |
| B Barrick Mining Corp. | Add +236.4% | 2.61% | +1.85 |
| AMD Advanced Micro Devices | Add +25.7% | 1.87% | +0.74 |
| INTC Intel Corp. | New | 0.61% | +0.61 |
| TVRD Tvardi Therapeutics Inc. | New | 0.28% | +0.28 |
| SBSW Sibanye-Stillwater Ltd.-ADR | New | 0.24% | +0.24 |
| UAL United Airlines Holdings Inc. | Add +1.4% | 1.58% | +0.16 |
| AL Sumisho Air Lease Corp. | Add +1.7% | 0.40% | +0.06 |
| SNDK Sandisk Corp. | Add +3.1% | 3.71% | −0.25 |
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 |