Slate Path Capital LP
Slate Path Capital LP declares $1.4B in 8 of the 220 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 19.8% of its $7.2B 13F portfolio. Largest positions: STMicroelectronics (0.59% of the company) and Hewlett Packard Enterprise (0.59% of the company). Over time: $1.4B in 8 of these companies for Q2 2026, against $521.1M in 4 for Q2 2023 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $186.6M and sold $2.4B of these stocks, at the quarter's prices: a net sale of $2.2B; 2 new positions and 1 sold out.
Performance of its AI picks
The AI-stock portfolio Slate Path Capital LP declared for Q2 2026 (Form 13F), held unchanged, returned -7.0% in Q3 2026 (SMH -7.1%), ranked 1586 of 1,776 active managers. Over the last 12 months, quarter after quarter: +129.1% (SMH +87.2%), ranked 9 of 1,356 active managers. Over three years, quarter after quarter: +752.9% (SMH +325.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.
Largest positions
- STMicroelectronics (STM) — $392.4M: 5.2M shares, 0.59% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2025
- Hewlett Packard Enterprise (HPE) — $351.0M: 7.8M shares, 0.59% of the company, 4.9% of its portfolio (trimmed this quarter); held since Q4 2023
- Wolfspeed (WOLF) — $214.1M: 4.4M shares, 8.4% of the company, 3.0% of its portfolio; held since Q1 2026
- Texas Instruments (TXN) — $147.7M: 495,521 shares, 0.05% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q1 2026
- Akamai (AKAM) — $141.5M: 1.2M shares, 0.83% of the company, 2.0% of its portfolio (new position this quarter)
- onsemi (ON) — $120.0M: 1.3M shares, 0.33% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q4 2025
- GDS Holdings (GDS) — $45.1M: 1.5M shares, 0.75% of the company, 0.62% of its portfolio (new position this quarter)
- GE Vernova (GEV) — $15.9M: 13,519 shares, 0.01% of the company, 0.22% of its portfolio (trimmed this quarter); held since Q1 2024
By sector
- Chips & compute — $874.2M, 61% of its AI holdings, 4 companies
- Servers & systems — $351.0M, 25% of its AI holdings, 1 company
- Neoclouds & data centers — $186.6M, 13% of its AI holdings, 2 companies
- Power, electrical & cooling — $15.9M, 1% of its AI holdings, 1 company
Biggest changes this quarter
- trimmed Hewlett Packard Enterprise (HPE): -$698.0M at the quarter's price
- trimmed Texas Instruments (TXN): -$648.2M at the quarter's price
- trimmed onsemi (ON): -$617.3M at the quarter's price
- sold out of GlobalFoundries (GFS): -$224.3M at the quarter's price
- opened a position in Akamai (AKAM): +$141.5M at the quarter's price
- trimmed GE Vernova (GEV): -$121.1M at the quarter's price
- trimmed STMicroelectronics (STM): -$66.3M at the quarter's price
- opened a position in GDS Holdings (GDS): +$45.1M at the quarter's price
Schedule 13D/G declarations
- Wolfspeed (WOLF) — 13G filed May 15, 2026: 6.4M shares as of Mar 31, 2026, 10.0% as declared