Billionaire Investor Paul Singer Has Over Half Of Elliott Investment's Portfolio Invested In These Four Stocks
Hedge Fund manager and billionaire investor Paul Singer's Elliott Investment Management L.P. has concentrated over half of its $17.59 billion portfolio in four key stocks, signaling a bold strategic pivot toward precious metals and energy sectors, according to the firm's second quarter 13F filing.
Deliberate Moves Into Precious Metals And Energy?
The move underscores Singer's activist investment approach, with 52.3% of the portfolio, approximately valued at $9.19 billion, just tied to four stocks.
The largest holding, Triple Flag Precious Metals Corp. (NYSE:TFPM), a royalty and streaming company focused on gold and silver, commands 18% of the portfolio at $3.17 billion, unchanged from the first quarter.
This bet on precious metals is further bolstered by a doubled position in VanEck Gold Miners ETF (NYSE:GDX) puts, now at 1.2%.
On the energy front, Elliott increased its stake in Phillips 66 (NYSE:PSX), a refining giant, by 22% to $2.30 billion, while maintaining a stable $1.97 billion or 11% position in Suncor Energy Inc. (NYSE:SU), a Canadian oil sands leader.
Southwest Airlines Co. (NYSE:LUV), at $1.75 billion or 10%, rounds out the top four, indirectly tied to energy as a major fuel consumer.
| Stocks | Value (as of Q2) | % in Portfolio (as of Q2) | Notes |
| Triple Flag Precious Metals Corp. (NYSE:TFPM) | $3.170 billion | 18% | Largest holding; unchanged from Q1. |
| Phillips 66 (NYSE:PSX) | $2.296 billion | 13% | Increased by 22% from Q1 (added ~3.5M shares). |
| Suncor Energy Inc. (NYSE:SU) | $1.972 billion | 11% | Unchanged shares; slight value decrease due to price changes. |
| Southwest Airlines Co. (NYSE:LUV) | $1.751 billion | 10% | Unchanged from Q1. |
| Four Stocks Combined (Total) | $9.190 billion | ~52.3% (sum of individual %) | Exceeds 50% of Elliott’s portfolio holdings. |
See Also: Hedge Fund Elliott Management’s Q2 Moves Include Positions Tied To S&P 500, Nasdaq, Nvidia
Other Key Changes In Elliott Investment’s Portfolio
This concentration reflects a broader portfolio shift, with holdings dropping from 41 to 30 in the second quarter, and total value rising 16% from $15.156 billion in the first quarter to $17.593 billion in the second.
Exits from energy-adjacent names like Transocean Ltd. (NYSE:RIG) and Osisko Gold Royalties, alongside new positions like OR Royalties Inc. (NYSE:OR), reinforce the commodity focus.
The strategy aligns with Elliott's history of high-conviction bets amid economic uncertainty, potentially anticipating inflation or commodity price surges.
However, the inclusion of put options for the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, hints at hedging against market volatility.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were mixed in premarket on Thursday. The SPY was up 0.026% at $646.80, while the QQQ declined 0.044% to $573.24, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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