In this article, we discuss the top stocks recently acquired by David Greenspan’s Slate Path Capital according to analysts. If you want to skip our detailed analysis of Greenspan’s history, investment philosophy, and hedge fund performance, go directly to David Greenspan’s Slate Path Capital is Buying These 5 Stocks.
David Greenspan instilled his efforts at Blue Ridge Capital (New York) prior to the hedge fund’s inauguration in 2012. He is an alumnus of Columbia Business School.
Some of the main sectors Slate Path Capital focuses its investments on include Services, Basic Materials, and Industrial Goods. The hedge fund’s 13F portfolio has over $1.79 billion in managed securities, as of June 30, 2021.
Some of the top stocks in the investment portfolio of Slate Path Capital at the end of the second quarter of 2021 were Coinbase Global, Inc. (NYSE:COIN), Stitch Fix, Inc. (NASDAQ:SFIX), and Charter Communications, Inc. (NASDAQ:CHTR), among others discussed in detail below. The top five holdings comprise around 46.45% of the portfolio. The total value of the holdings is up 1.16% when compared to the first quarter of the year.
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Our Methodology
With this context in mind, here is our list of top stocks David Greenspan’s Slate Path Capital is buying.
Why should we pay attention to Slate Path Capital’s stock picks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
David Greenspan’s Slate Path Capital is Buying Coinbase, Stitch Fix, and More
10. Organon & Co. (NYSE:OGN)
Slate Path Capital’s Stake Value: $12.7 million
Percentage of Slate Path Capital’s 13F Portfolio: 0.7%
Number of Hedge Fund Holders: 44
Organon & Co. (NYSE:OGN) caters to female health, specifically contraceptives and fertility appliances. During the second quarter, Slate Path Capital held 420 thousand shares in the health-based company valued at $12.7 million, and as a new investment, it weighs 0.7% of the hedge fund’s 13F portfolio.
During the second financial quarter, 44 hedge funds out of the 873 funds tracked by Insider Monkey held stakes in Organon & Co. (NYSE:OGN) worth $428 million.
Like Coinbase Global, Inc. (NYSE:COIN), Stitch Fix, Inc. (NASDAQ:SFIX), and Charter Communications, Inc. (NASDAQ:CHTR) Organon & Co. (NYSE:OGN) is one of the premium shares gaining hedge funds’ attention in 2021.
9. Vaneck Vectors Etf Tr (Private)
Slate Path Capital’s Stake Value: $13.3 million
Percentage of Slate Path Capital’s 13F Portfolio: 0.74%
Number of Hedge Fund Holders: N/A
As the ninth spot on our list, Vaneck Vectors Etf Tr (Private) is an investment firm that was founded in 1955. During the second quarter, Slate Path Capital held 285,000 shares in the New York-based firm. Slate Path Capital made a new investment in Vaneck during the second financial quarter.
8. Chromcraft Revington Inc (Private)
Slate Path Capital’s Stake Value: $20.8 million
Percentage of Slate Path Capital’s 13F Portfolio: 1.16%
Number of Hedge Fund Holders: N/A
Chromcraft Revington Inc incorporated its Senatobia, Mississippi-based furniture business in 1955. In the second quarter of 2021, Slate Path Capital increased its stake in the company to 690 thousand shares in Chromcraft worth $27.9 million.
7. Comstock Resources, Inc. (NYSE:CRK)
Slate Path Capital’s Stake Value: $23.9 million
Percentage of Slate Path Capital’s 13F Portfolio: 1.33%
Number of Hedge Fund Holders: 20
Ranking 7th on our list of top stocks recently bought by David Greenspan’s Slate Path Capital, Comstock Resources, Inc. (NYSE:CRK) focuses its techniques on oil and gas production.
As of the second quarter of 2021, 20 hedge funds out of the 873 funds tracked by Insider Monkey held stakes in the company valued at $146 million.
6. Cyclerion Therapeutics, Inc. (NASDAQ:CYCN)
Slate Path Capital’s Stake Value: $27.9 million
Percentage of Slate Path Capital’s 13F Portfolio: 1.55%
Number of Hedge Fund Holders: 16
Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) incorporated its Cambridge, Massachusetts-based health care business in 2018. In the second quarter of 2021, Slate Path Capital held 7 million shares in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) worth $27.9 million.
On September 24, Cantor Fitzgerald set Cyclerion Therapeutics, Inc. (NASDAQ:CYCN)’s price target to $7, reiterating its Overweight rating.
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Disclosure: None. David Greenspan’s Slate Path Capital is Buying Coinbase, Stitch Fix, and More is originally published on Insider Monkey.
