Elliott Investment Management L.P.

WEST PALM BEACH, FL · CIK 0001791786

Portfolio Value: $15.16B

Positions: 41

Period: 2025-03-31

Filed: 2025-05-15

Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020

Portfolio Value

$15.16B

Positions

New

Increased

Decreased

Sold Out

149

Elliott Investment Management L.P. Q1 2025 13F Filing Summary

Elliott Investment Management L.P. (WEST PALM BEACH, FL) reported a portfolio value of $15.16B across 41 positions in their Q1 2025 SEC 13F filing (period ending 2025-03-31). Top holdings include TFPM ($2.56B), SU ($2.04B), PSX ($1.94B). The top 10 positions account for 86.7% of the portfolio. This quarter saw 5 new positions, 6 increases, 7 reductions, 149 complete exits. Notable new buys: IWD ($1.03B), CSCO ($123.42M), IESC ($46.04M). Notable exits: RNG, MSTR, CFLT.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	TFPMTRIPLE FLAG PRECIOUS METAL COM	89679M104	$2.56B	133,815,727	16.91%	-
2	SUSUNCOR ENERGY INC NEW COM	867224107	$2.04B	52,670,800	13.46%	-
3	PSXPHILLIPS 66 COM	718546104	$1.94B	15,725,000	12.81%	+1929.0%
4	THCHSOUTHWEST AIRLS CO COM	844741108	$1.81B	53,978,500	11.96%	-9.5%
5	XLISELECT SECTOR SPDR TR INDL	81369Y704	$1.64B	12,500,000	10.81%	+316.7%
6	IWDISHARES TR RUS 1000 VAL ETF	464287598	$1.03B	5,500,000	6.83%	New
7	PINSPINTEREST INC CL A	72352L106	$868.00M	28,000,000	5.73%	-
8	QQQINVESCO QQQ TR UNIT SER 1	4.609e+107	$756.13M	1,612,500	4.99%	-23.7%
9	BMRNBIOMARIN PHARMACEUTICAL INC COM	09061G101	$247.44M	3,500,338	1.63%	-
10	ETSYETSY INC COM	29786A106	$235.90M	5,000,000	1.56%	-
11	LBRDALIBERTY BROADBAND CORP COM SER C	530307305	$202.80M	2,384,481	1.34%	-
12	MTCHMATCH GROUP INC NEW COM	57667L107	$187.20M	6,000,000	1.24%	-50.2%
13	CCICROWN CASTLE INC COM	22822V101	$127.68M	1,225,000	0.84%	-
14	CSCOCISCO SYS INC COM	17275R102	$123.42M	2,000,000	0.81%	New
15	EQIXEQUINIX INC COM	29444U700	$122.30M	150,000	0.81%	+0.0%
16	IWMISHARES TR RUSSELL 2000 ETF	464287655	$99.75M	500,000	0.66%	+0.0%
17	SESEADRILL LTD COM	G7997W102	$92.59M	3,703,746	0.61%	-
18	GDXVANECK ETF TRUST GOLD MINERS ETF	92189F106	$91.94M	2,000,000	0.61%	+0.0%
19	WDCWESTERN DIGITAL CORP COM	958102105	$90.97M	2,250,000	0.60%	-
20	TXNTEXAS INSTRS INC COM	882508104	$89.85M	500,000	0.59%	-
21	IESCSENSATA TECHNOLOGIES HLDG PL SHS	G8060N102	$78.88M	3,250,000	0.52%	-
22	XMESPDR SER TR S&P METALS MNG	78464A755	$75.59M	1,350,000	0.50%	-50.0%
23	XOPSPDR SER TR S&P OILGAS EXP	78468R556	$73.39M	557,200	0.48%	+41.3%
24	BKNGBOOKING HOLDINGS INC NOTE 0.750% 5/0	09857LAN8	$61.45M	25,000,000	0.41%	-
25	ETWOE2OPEN PARENT HOLDINGS INC COM CL A	29788T103	$54.50M	27,250,000	0.36%	-
26	UNITUNITI GROUP INC COM	91325V108	$51.01M	10,120,963	0.34%	-
27	MARMARRIOTT INTL INC NEW CL A	571903202	$47.64M	200,000	0.31%	-
28	IESCOSISKO GOLD ROYALTIES LTD COM	68827L101	$46.04M	2,180,151	0.30%	New
29	HLTHILTON WORLDWIDE HLDGS INC COM	43300A203	$45.51M	200,000	0.30%	-
30	HDBHDFC BANK LTD SPONSORED ADS	40415F101	$44.53M	670,215	0.29%	-
31	RPDRAPID7 INC NOTE 0.250% 3/1	753422AF1	$38.09M	41,500,000	0.25%	-
32	RIGTRANSOCEAN LTD REGISTERED SHS	H8817H100	$37.63M	11,870,319	0.25%	-
33	SNDKSANDISK CORP COM	80004C200	$35.71M	749,997	0.24%	New
34	MSTRMICROSTRATEGY INC NOTE 0.625% 3/1	594972AJ0	$32.75M	16,000,000	0.22%	New
35	WWAYFAIR INC NOTE 3.500%11/1	94419LAR2	$16.01M	15,000,000	0.11%	-
36	CRMDCORMEDIX INC COM	21900C308	$15.06M	2,444,561	0.10%	-14.8%
37	ARMARM HOLDINGS PLC SPONSORED ADS	42068205	$14.90M	139,551	0.10%	-7.0%
38	HWMHOWMET AEROSPACE INC COM	443201108	$12.97M	100,000	0.09%	-
39	BLBLACKLINE INC NOTE 3/1	09239BAD1	$4.31M	4,500,000	0.03%	-62.5%
40	WOLFWOLFSPEED INC NOTE 1.875%12/0	977852AD4	$2.78M	12,500,000	0.02%	-
41	WOLFWOLFSPEED INC NOTE 0.250% 2/1	977852AB8	$1.82M	7,500,000	0.01%	-

Position Changes

Stock	Value	Shares
IWDISHARES TR	$1.03B	5,500,000
CSCOCISCO SYS INC	$123.42M	2,000,000
IESCOSISKO GOLD ROYALTIES LTD	$46.04M	2,180,151
SNDKSANDISK CORP	$35.71M	749,997
MSTRMICROSTRATEGY INC	$32.75M	16,000,000