Elliott Investment Management L.P.

WEST PALM BEACH, FL · CIK 0001791786

Portfolio Value: $17.59B

Positions: 30

Period: 2025-06-30

Filed: 2025-08-14

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

$17.59B

Positions

New

Increased

Decreased

Sold Out

162

Elliott Investment Management L.P. Q2 2025 13F Filing Summary

Elliott Investment Management L.P. (WEST PALM BEACH, FL) reported a portfolio value of $17.59B across 30 positions in their Q2 2025 SEC 13F filing (period ending 2025-06-30). Top holdings include TFPM ($3.17B), PSX ($2.30B), SU ($1.97B). The top 10 positions account for 82.6% of the portfolio. This quarter saw 2 new positions, 11 increases, 2 reductions, 162 complete exits. Notable new buys: HPE ($381.00M), OR ($56.05M). Notable exits: RPD, ETWO, BKNG.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	TFPMTRIPLE FLAG PRECIOUS METAL COM	89679M104	$3.17B	133,815,727	18.02%	-
2	PSXPHILLIPS 66 COM	718546104	$2.30B	19,251,000	13.05%	+22.4%
3	SUSUNCOR ENERGY INC NEW COM	867224107	$1.97B	52,670,800	11.21%	-
4	THCHSOUTHWEST AIRLS CO COM	844741108	$1.75B	53,978,500	9.95%	-
5	SPYSPDR S&P 500 ETF TR TR UNIT	78462F103	$1.33B	2,160,000	7.59%	+0.0%
6	QQQINVESCO QQQ TR UNIT SER 1	4.609e+107	$1.10B	2,000,000	6.27%	+24.0%
7	PINSPINTEREST INC CL A	72352L106	$1.00B	28,000,000	5.71%	-
8	IWDISHARES TR RUS 1000 VAL ETF	464287598	$971.15M	5,000,000	5.52%	-9.1%
9	XLISELECT SECTOR SPDR TR INDL	81369Y704	$516.32M	3,500,000	2.93%	-72.0%
10	NVDANVIDIA CORPORATION COM	67066G104	$407.61M	2,580,000	2.32%	+0.0%
11	HPEHEWLETT PACKARD ENTERPRISE C COM	42824C109	$381.00M	18,630,978	2.17%	New
12	HYGISHARES TR IBOXX HI YD ETF	464288513	$306.47M	3,800,000	1.74%	+0.0%
13	SMHVANECK ETF TRUST SEMICONDUCTR ETF	92189F676	$278.88M	1,000,000	1.59%	+0.0%
14	ETSYETSY INC COM	29786A106	$250.80M	5,000,000	1.43%	-
15	LBRDALIBERTY BROADBAND CORP COM SER C	530307305	$234.59M	2,384,481	1.33%	-
16	IWMISHARES TR RUSSELL 2000 ETF	464287655	$215.79M	1,000,000	1.23%	+100.0%
17	GDXVANECK ETF TRUST GOLD MINERS ETF	92189F106	$208.24M	4,000,000	1.18%	+100.0%
18	XMESPDR SERIES TRUST S&P METALS MNG	78464A755	$191.58M	2,850,000	1.09%	+111.1%
19	WDCWESTERN DIGITAL CORP COM	958102105	$143.98M	2,250,000	0.82%	-
20	DGIIDIGITAL RLTY TR INC COM	253868103	$130.75M	750,000	0.74%	+0.0%
21	CCICROWN CASTLE INC COM	22822V101	$125.84M	1,225,000	0.72%	-
22	EQIXEQUINIX INC COM	29444U700	$119.32M	150,000	0.68%	-
23	IESCSENSATA TECHNOLOGIES HLDG PL SHS	G8060N102	$97.86M	3,250,000	0.56%	-
24	SESEADRILL LTD COM	G7997W102	$97.22M	3,703,746	0.55%	-
25	HLTHILTON WORLDWIDE HLDGS INC COM	43300A203	$85.23M	320,000	0.48%	+60.0%
26	OROR ROYALTIES INC. COM SHS	68390D106	$56.05M	2,180,151	0.32%	New
27	MSTRMICROSTRATEGY INC NOTE 0.625% 3/1	594972AJ0	$44.50M	16,000,000	0.25%	-
28	UNITUNITI GROUP INC COM	91325V108	$43.72M	10,120,963	0.25%	-
29	SNDKSANDISK CORP COM	80004C200	$34.01M	749,997	0.19%	-
30	WWAYFAIR INC NOTE 3.500%11/1	94419LAR2	$20.27M	15,000,000	0.12%	-

Position Changes

Stock	Value	Shares
HPEHEWLETT PACKARD ENTERPRISE C	$381.00M	18,630,978
OROR ROYALTIES INC.	$56.05M	2,180,151