Please try the following generic method.
It is using XML and XQuery to tokenize a string.
XML/XQuery data model is based on ordered sequences. Exactly what we need for the task.
Both separator and token's position are parameterized. So, it is very easy to retrieve any token in any position.
SQL
-- DDL and sample data population, start
DECLARE @tbl AS TABLE(ID INT IDENTITY PRIMARY KEY, tokens NVARCHAR(MAX));
INSERT INTO @tbl(tokens) VALUES
('/Example Folder/Example Subfolder/Example File'),
('/SampleFolder/SampleSubfolder/SampleFile');
-- DDL and sample data population, end
DECLARE @separator CHAR(1) = '/'
, @position INT = 1;
SELECT *
, c.value('(/root/r[text()][sql:variable("@position")]/text())[1]', 'VARCHAR(256)') AS token
FROM @tbl
CROSS APPLY (SELECT TRY_CAST('<root><r><![CDATA[' +
REPLACE(tokens, @separator, ']]></r><r><![CDATA[') +
']]></r></root>' AS XML)) AS t(c);
Output
+----+------------------------------------------------+----------------+
| ID | tokens | token |
+----+------------------------------------------------+----------------+
| 1 | /Example Folder/Example Subfolder/Example File | Example Folder |
| 2 | /SampleFolder/SampleSubfolder/SampleFile | SampleFolder |
+----+------------------------------------------------+----------------+