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Charter Communications, Inc. (CHTR), Intuitive Surgical, Inc. (ISRG), Barrick Gold Corporation (USA) (ABX): Slate Path Capital Top Three Picks

Slate Path Capital, managed by David Greenspan, recently filed its 13F with the U.S. Securities and Exchange Commission. According to the filling, the value of the fund’s equity portfolio for the second quarter of 2014 totaled to around $3.6 billion. During the quarter, the fund focused on Finance, Consumer and Healthcare stocks. Charter Communications, Inc. (NASDAQ:CHTR), Intuitive Surgical, Inc. (NASDAQ:ISRG) and Barrick Gold Corporation (USA) (NYSE:ABX) are represented as the Slate Path Capital’s top holdings for the second quarter, accounting for over 10% of its portfolio. We will now discuss each of these top holdings in this article.

Charter Communications, Inc.

On the top spot is Charter Communications, Inc. (NASDAQ:CHTR), in which Slate Path Capital revealed owning 910,000 shares. The stake, worth $144.1 million, represents a more than 20% decrease from approximately 1.20 million shares the fund held at the end of first quarter of 2014. Charter Communications, Inc. (NASDAQ:CHTR) is engaged in providing cable services in the United States, and has a market cap of $17.6 billion.

In its recent 13F, Hound Partners, led by Jonathan Auerbach, disclosed holding 1.55 million Charter Communications, Inc. (NASDAQ:CHTR) shares, with reported value of $246.2 million.

Next is Intuitive Surgical, Inc. (NASDAQ:ISRG), a new position, where the fund holds 314,000 shares, worth nearly $130 million. California-based Intuitive Surgical, Inc. (NASDAQ:ISRG) engaged in robotic-assisted, minimally invasive surgery. The company develops, manufactures and markets the da Vinci Surgical System, and has a market cap of $17.1 billion. Other fund betting big on the company include Orbimed Advisors, run by Samuel Isaly, which holds 391,100 shares, and Healthcor Management LP, led by Arthur B Cohen and Joseph Healey, owns 132,200 shares.

Third largest holding is Barrick Gold Corporation (USA) (NYSE:ABX), in which the fund reduced its holding to 7.03 million shares from 8 million shares held previously. The stake is valued at $128.6 million. Barrick Gold Corporation (USA) (NYSE:ABX) is a gold producer, which operates mines and advanced exploration and development projects on five continents. For the second quarter of 2014, the company reported a net loss of $269 million, or $0.23 per share, reflecting an impairment charge of $514 million related to the Jabal Sayid copper project. The company signed an agreement in July to form a 50/50 joint venture with a local partner, Saudi Arabian Mining Co., to operate the Jabal Sayid copper project and advance production from this first quartile cost operation, according to a press release.

Touradji Capital Management, managed by Paul Touradji, holds 115,850 shares of Barrick Gold Corporation (USA) (NYSE:ABX), and David Iben’s Kopernik Global Investors owns 1.61 million shares of the company.

New York-based Slate Path Capital was founded by David Greenspan in 2012. Previously, Mr. Greenspan was partner and managing director at Blue Ridge Capital in New York. Mr. Greenspan joined Blue Ridge in 2000. He earned his undergraduate degree in business administration from George Mason University in 1993.

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