Slate Path Capital: Returns, Ethan Binder, Stephen Cook, Jamie McNab

1. Twitter Inc (NYSE:TWTR)

In Twitter Inc (NYSE:TWTR), Slate Path Capital increased its stake by 2.0 million shares during the second quarter and held 15.14 million shares worth $270.55 million at the end of June. The fund added Twitter Inc (NYSE:TWTR) to its equity portfolio during the fourth quarter of 2016 and has seen the stock gain nearly 8% so far this year. The social networking company managed to post better-than-expected results for the last two quarters, but it also showed two consecutive annual revenue declines. Investors are still worried that Twitter Inc (NYSE:TWTR) is not able to generate enough advertising revenue and its user growth figures are also lacking strength. Twitter Inc (NYSE:TWTR)’s management is still experimenting with ways to improve monetization and they have been doing a good job at cutting costs, which is partly what helped it achieve better than expected bottom line in the last two quarters. Among the funds in our database, Twitter Inc (NYSE:TWTR) is far from being very popular, as just 37 funds held long positions in the company at the end of June, up from 33 funds a quarter earlier.