- 01 David Greenspan's Slate Path Capital, a $6.7B Tiger Cub fund seeded by John Griffin of Blue Ridge in 2012, filed its Q1 2026 13F-HR on May 15 showing a sharp pivot into analog and power semiconductors.
- 02 The portfolio shrank from $7.4B to $6.7B in three months, a 9 percent drop, with 17 full exits and 13 cuts trimming the holdings count from 51 to 44.
- 03 The biggest new buy was Texas Instruments at $518M, which jumped to the No. 2 stake, alongside fresh adds to Nokia, GlobalFoundries, STMicroelectronics, Qnity Electronics, and a new Wolfspeed bet.
- 04 Greenspan funded the chip pivot by selling GitLab, Corning, Western Digital, Ambarella, and Navitas Semiconductor, and by cutting ON Semi by 26 percent, EQT by 38 percent, and Twilio by 52 percent.
- 05 The next 13F will show whether Texas Instruments stays a $500M-plus conviction bet or trims back, and whether Nokia and STMicroelectronics keep building toward top-five positions.
How Slate Path Moved Last Quarter
What to watch
1. Texas Instruments showed up as a $518M new buy at the March 31 cutoff, the biggest single deployment of the quarter and a straight jump to the No. 2 stake. Watch the next filing to see if Slate Path holds the full $518M or trims into any rally, because that tells you whether this is a long-term cycle bet on analog semis or a tactical entry sized for a fast exit.
2. The supplier pair underneath Texas Instruments is the real tell. Nokia, GlobalFoundries, STMicroelectronics, Qnity Electronics, and a fresh Wolfspeed bet read as a deliberate package of older-node chipmaking and silicon-carbide power exposure. Watch whether any of these climb past the $300M mark, since that would put them inside the top five and confirm the rotation is structural rather than a one-quarter trade.
3. The exit list points the other way. GitLab and Ambarella are full sell-outs from software and advanced-driver chips, and the 26 percent cut to ON Semi means the older-cycle ON bet is shrinking even as TXN ramps. Watch whether ON Semi returns to the buy list next quarter or drops out of the top five entirely, because that decision will fix whether Slate Path is rotating within power semis or stepping away from them.
Verified as of May 28, 2026.
Primary Filings & Announcements
- Slate Path Capital LP Information Table, Q1 2026 13F-HR
- Slate Path Capital LP Filing Index, Q1 2026 13F-HR
- EDGAR 13F-HR filing history for Slate Path Capital LP
Market Coverage
- Hewlett Packard Enterprise (HPE) on Yahoo Finance
- Texas Instruments (TXN) on Yahoo Finance
- ON Semiconductor (ON) on Yahoo Finance
Background & Analysis
- David Greenspan biography, University of Virginia McIntire School of Commerce
- EDGAR all-form filing history for Slate Path Capital LP
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