Slate Path Capital LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Slate Path Capital LP initiated 10 new positions, increased allocation to 10 existing positions, trimmed 10 positions, and exited 17 positions entirely. The fund's 13F equity book declined from $7.41B to $6.73B (-9.2% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $7.41BPrior quarter
- $6.73BCurrent quarter
- $-0.68BNet delta
- -9.2%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| TEXAS INSTRS INC | TXN | 7.70% | History → |
| TRANSOCEAN LTD | RIG | 2.96% | Holders → |
| SAIA INC | SAIA | 1.61% | Holders → |
| WOLFSPEED INC | WOLF | 1.02% | Holders → |
| SOLAREDGE TECHNOLOGIES INC | SEDG | 0.56% | Holders → |
| ENPHASE ENERGY INC | ENPH | 0.51% | Holders → |
| SNAP INC | SNAP | 0.50% | Holders → |
| T1 ENERGY INC | TE | 0.41% | Holders → |
| XPO INC | XPO | 0.29% | Holders → |
| SMURFIT WESTROCK PUBLIC LIMITED COMPANY | SW | 0.11% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| UNITED AIRLINES HOLDINGS INC | UAL | +1.41% | +64.72% | History → |
| WHIRLPOOL CORP | WHR | +0.11% | +52.71% | Holders → |
| PARAMOUNT SKYDANCE CORP | PSKY | +0.09% | +47.50% | Holders → |
| UNITY SOFTWARE INC | U | +-1.19% | +38.40% | History → |
| INTERNATIONAL PAPER CO | IP | +0.42% | +31.14% | Holders → |
| QNITY ELECTRONICS, INC. | Q | +2.16% | +29.89% | History → |
| NUCOR CORP | NUE | +1.47% | +22.67% | History → |
| STMICROELECTRONICS N V | STM | +1.30% | +16.00% | Holders → |
| FIGURE TECHNOLOGY SOLUTIO | FIGR | +-0.01% | +7.99% | Holders → |
| KNIGHT-SWIFT TRANSN HLDGS IN | KNX | +0.93% | +7.76% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| EXPAND ENERGY CORP | EXE | -2.12% | -91.48% | Holders → |
| TWILIO INC | TWLO | -1.61% | -52.46% | Holders → |
| HUMANA INC | HUM | -2.11% | -51.76% | Holders → |
| EQT CORPORATION | EQT | -0.86% | -38.04% | Holders → |
| AMRIZE LTD | AMRZ | -1.15% | -35.95% | Holders → |
| FREEPORT-MCMORAN INC | FCX | -0.50% | -32.71% | Holders → |
| AMERICAN AIRLINES GROUP INC | AAL | -0.84% | -28.37% | Holders → |
| ON SEMICONDUCTOR CORP | ON | -0.48% | -25.59% | History → |
| CLEVELAND-CLIFFS INC NEW | CLF | -1.60% | -14.15% | Holders → |
| ROCKET COMPANIES, INC., CLASS A | RKT | -1.81% | -9.87% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| GITLAB INC | GTLB | 3.02% |
| ARROWHEAD PHARMACEUTICALS INC | ARWR | 2.26% |
| CORNING INC | GLW | 1.03% |
| NIKE INC | NKE | 0.95% |
| PAN AMERN SILVER CORP | PAAS | 0.93% |
| APTIV PLC | APTV | 0.92% |
| AMBARELLA INC | AMBA | 0.78% |
| WESTERN DIGITAL CORP | WDC | 0.75% |
| FISERV, INC. | FISV | 0.66% |
| NAVITAS SEMICONDUCTOR CORP | NVTS | 0.28% |
| LULULEMON ATHLETICA INC | LULU | 0.25% |
| OUSTER INC | OUST | 0.24% |
| CSX CORP | CSX | 0.23% |
| BARRICK MNG CORP | B | 0.15% |
| NEWMONT CORP | NEM | 0.15% |
| NEW YORK TIMES CO/THE | NYT | 0.13% |
| SPDR SERIES TRUST | KRE | 0.11% |
Methodology & FAQ
How Slate Path Capital LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Slate Path Capital LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Slate Path Capital LP initiate in Q1 2026?
Slate Path Capital LP established 10 new positions in Q1 2026: TEXAS INSTRS INC (TXN, 7.70%), TRANSOCEAN LTD (RIG, 2.96%), SAIA INC (SAIA, 1.61%), WOLFSPEED INC (WOLF, 1.02%), SOLAREDGE TECHNOLOGIES INC (SEDG, 0.56%), ENPHASE ENERGY INC (ENPH, 0.51%), SNAP INC (SNAP, 0.50%), T1 ENERGY INC (TE, 0.41%), XPO INC (XPO, 0.29%), SMURFIT WESTROCK PUBLIC LIMITED COMPANY (SW, 0.11%).
Which existing positions saw the largest allocation increases for Slate Path Capital LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: UNITED AIRLINES HOLDINGS INC (UAL, +1.41% weight, +64.72% shares), WHIRLPOOL CORP (WHR, +0.11% weight, +52.71% shares), PARAMOUNT SKYDANCE CORP (PSKY, +0.09% weight, +47.50% shares), UNITY SOFTWARE INC (U, +-1.19% weight, +38.40% shares), INTERNATIONAL PAPER CO (IP, +0.42% weight, +31.14% shares), QNITY ELECTRONICS, INC. (Q, +2.16% weight, +29.89% shares), NUCOR CORP (NUE, +1.47% weight, +22.67% shares), STMICROELECTRONICS N V (STM, +1.30% weight, +16.00% shares), FIGURE TECHNOLOGY SOLUTIO (FIGR, +-0.01% weight, +7.99% shares), KNIGHT-SWIFT TRANSN HLDGS IN (KNX, +0.93% weight, +7.76% shares).
Which positions did Slate Path Capital LP fully exit in Q1 2026?
Slate Path Capital LP fully exited 17 positions in Q1 2026: GITLAB INC (GTLB, last-reported weight 3.02%), ARROWHEAD PHARMACEUTICALS INC (ARWR, last-reported weight 2.26%), CORNING INC (GLW, last-reported weight 1.03%), NIKE INC (NKE, last-reported weight 0.95%), PAN AMERN SILVER CORP (PAAS, last-reported weight 0.93%), APTIV PLC (APTV, last-reported weight 0.92%), AMBARELLA INC (AMBA, last-reported weight 0.78%), WESTERN DIGITAL CORP (WDC, last-reported weight 0.75%), FISERV, INC. (FISV, last-reported weight 0.66%), NAVITAS SEMICONDUCTOR CORP (NVTS, last-reported weight 0.28%), LULULEMON ATHLETICA INC (LULU, last-reported weight 0.25%), OUSTER INC (OUST, last-reported weight 0.24%), CSX CORP (CSX, last-reported weight 0.23%), BARRICK MNG CORP (B, last-reported weight 0.15%), NEWMONT CORP (NEM, last-reported weight 0.15%), NEW YORK TIMES CO/THE (NYT, last-reported weight 0.13%), SPDR SERIES TRUST (KRE, last-reported weight 0.11%).
Which existing positions saw the largest allocation reductions for Slate Path Capital LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: EXPAND ENERGY CORP (EXE, -2.12% weight, -91.48% shares), TWILIO INC (TWLO, -1.61% weight, -52.46% shares), HUMANA INC (HUM, -2.11% weight, -51.76% shares), EQT CORPORATION (EQT, -0.86% weight, -38.04% shares), AMRIZE LTD (AMRZ, -1.15% weight, -35.95% shares), FREEPORT-MCMORAN INC (FCX, -0.50% weight, -32.71% shares), AMERICAN AIRLINES GROUP INC (AAL, -0.84% weight, -28.37% shares), ON SEMICONDUCTOR CORP (ON, -0.48% weight, -25.59% shares), CLEVELAND-CLIFFS INC NEW (CLF, -1.60% weight, -14.15% shares), ROCKET COMPANIES, INC., CLASS A (RKT, -1.81% weight, -9.87% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.