Elliott Investment Management L.P.

Hedge Fund • Multi-Strategy

Elliott Investment Management L.P. is a Multi-Strategy Hedge Fund based in West Palm Beach, FL led by Jonathan D Pollock, reporting $117.32B in AUM as of Q3 2025 with 36% Energy concentration, 95% concentrated in top 10 holdings, and 29% allocation to TFPM.

CEOJonathan D Pollock

Portfolio Value: $13.6B
Positions: 18
Top Holding: TFPM at 28.72%
Last Reported: Q3 2025

Address360 S. Rosemary Ave, 18th Floor, West Palm Beach, FL, 33401, United States

Top Holdings

Largest long holdings in Elliott Investment Management L.P.'s portfolio (94.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Triple Flag Precious Metals TFPM	Other Precious Metals Basic Materials	$3.9B	28.72%	—	64.80% 133.8M shares	Q3 2022 Held for 3y 2m
2 Phillips 66 PSX	Oil & Gas Refining & Marketing Energy	$2.6B	19.20%	—	4.76% 19.3M shares	Q2 2023 Held for 2y 5m
3 Suncor Energy SU	Oil & Gas Integrated Energy	$2.2B	16.15%	—	4.34% 52.7M shares	Q1 2022 Held for 3y 8m
4 Southwest Airlines LUV	Airlines, Airports & Air Services Industrials	$1.6B	11.97%	-$90.9M Sold	9.74% 51.1M shares	Q2 2024 Held for 1y 5m
5 Pinterest, Inc. PINS	Internet Content & Information Communication Services	$900.8M	6.61%	—	4.12% 28.0M shares	Q2 2022 Held for 3y 5m
6 Hewlett Packard Enterprise HPE	Communication Equipment Technology	$457.6M	3.36%	—	1.41% 18.6M shares	Q2 2025 Held for 5 months
7 Uniti Group Inc. UNIT	REIT - Specialty Real Estate	$361.2M	2.65%	+$299.2M Bought	23.97% 59.0M shares	Q3 2020 Held for 5y 2m
8 Etsy ETSY	Specialty Retail Consumer Cyclical	$332.0M	2.43%	—	5.04% 5.0M shares	Q4 2023 Held for 1y 11m
9 iShares iBoxx High Yield Corporate Bond HYG	ETF ETF	$308.5M	2.26%	—	— 3.8M shares	Q2 2025 Held for 5 months
10 PepsiCo PEP	Beverages - Non-Alcoholic Consumer Defensive	$179.1M	1.31%	+$179.1M New	0.09% 1.3M shares	Q2 2025 Held for 5 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Elliott Investment Management L.P.'s latest filing

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Market Value

$13.6B

Prior: $12.1B

Q/Q Change

+12.51%

+$1.5B

Net Flows % of MV

+0.988%

Turnover Ratio

4.44%

New Purchases

4 stocks

$373.0M

Added To

1 stocks

+$299.2M

Sold Out Of

4 stocks

$446.6M

Reduced Holdings

1 stocks

-$90.9M

Increased Positions

Position	Shares Δ	Change
1 PepsiCo PEP	New	0 → 1.3M +$179.1M
2 BILL Holdings BILL	New	0 → 3.0M +$158.9M
3 GCI Liberty, Inc. Series C GCI Group Common Stock GLIBK	New	0 → 476.9K +$17.8M
4 Oxford Lane Capital OXLC	New	0 → 1.0M +$17.3M
5 Uniti Group Inc. UNIT	+483.07%	10.1M → 59.0M +$299.2M

Decreased Positions

Position	Shares Δ	Change
1 Liberty Broadband Corporation LBRDK	Sold	2.4M → 0 −$234.6M
2 Western Digital WDC	Sold	2.3M → 0 −$144.0M
3 SNDK Sandisk Corporation Common Stock SNDK	Sold	750.0K → 0 −$34.0M
4 SNDK SanDisk SNDK	Sold	750.0K → 0 −$34.0M
5 Southwest Airlines LUV	-5.28%	54.0M → 51.1M −$90.9M

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Analytics

Portfolio insights and performance metrics for Elliott Investment Management L.P.

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Sector Allocation

Energy

36.20%

Basic Materials

29.40%

Industrials

12.00%

Communication Services

6.60%

Technology

5.20%

Real Estate

4.40%

Consumer Cyclical

2.40%

ETF

2.30%

Consumer Defensive

1.30%

Financial Services

0.10%

Market Cap Distribution

Large Cap ($10B - $200B)

60.33%

Mid Cap ($2B - $10B)

33.69%

Small Cap ($300M - $2B)

3.73%

N/A (ETF or Unknown)

2.26%

Portfolio Concentration

Top 10 Holdings %

94.66%

Top 20 Holdings %

100.0%

Top 50 Holdings %

100.0%

Top 100 Holdings %

100.0%

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Elliott Investment Management L.P.

Top Holdings

Changes

Increased Positions

Decreased Positions

Analytics

Sector Allocation

Market Cap Distribution

Portfolio Concentration

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