Elliott Investment Management L.P.

WEST PALM BEACH, FL · CIK 0001791786

Portfolio Value: $22.72B

Positions: 33

Period: 2025-09-30

Filed: 2025-11-14

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

$22.72B

Positions

New

Increased

Decreased

Sold Out

166

Elliott Investment Management L.P. Q3 2025 13F Filing Summary

Elliott Investment Management L.P. (WEST PALM BEACH, FL) reported a portfolio value of $22.72B across 33 positions in their Q3 2025 SEC 13F filing (period ending 2025-09-30). Top holdings include TFPM ($3.92B), PSX ($2.62B), SU ($2.20B). The top 10 positions account for 76.8% of the portfolio. This quarter saw 7 new positions, 9 increases, 2 reductions, 166 complete exits. Notable new buys: UNIT ($361.15M), IGV ($345.03M), PEP ($179.06M). Notable exits: UNIT, LBRDA, WDC.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	TFPMTRIPLE FLAG PRECIOUS METAL COM	89679M104	$3.92B	133,815,727	17.23%	-
2	PSXPHILLIPS 66 COM	718546104	$2.62B	19,251,000	11.52%	-
3	SUSUNCOR ENERGY INC NEW COM	867224107	$2.20B	52,670,800	9.69%	-
4	QQQINVESCO QQQ TR UNIT SER 1	4.609e+107	$1.95B	3,250,000	8.59%	+62.5%
5	THCHSOUTHWEST AIRLS CO COM	844741108	$1.63B	51,128,500	7.18%	-5.3%
6	XLPSELECT SECTOR SPDR TR SBI CONS STPLS	81369Y308	$1.18B	15,000,000	5.17%	+0.0%
7	XLISELECT SECTOR SPDR TR INDL	81369Y704	$1.16B	7,500,000	5.09%	+114.3%
8	IWDISHARES TR RUS 1000 VAL ETF	464287598	$1.02B	5,000,000	4.48%	-
9	PINSPINTEREST INC CL A	72352L106	$900.76M	28,000,000	3.96%	-
10	GDXVANECK ETF TRUST GOLD MINERS ETF	92189F106	$878.60M	11,500,000	3.87%	+187.5%
11	NVDANVIDIA CORPORATION COM	67066G104	$807.89M	4,330,000	3.56%	+67.8%
12	XLESELECT SECTOR SPDR TR ENERGY	81369Y506	$714.72M	8,000,000	3.15%	+0.0%
13	HPEHEWLETT PACKARD ENTERPRISE C COM	42824C109	$457.58M	18,630,978	2.01%	-
14	UNITUNITI GROUP LLC COM SHS	912932100	$361.15M	59,012,219	1.59%	New
15	IGVISHARES TR EXPANDED TECH	464287515	$345.03M	3,000,000	1.52%	New
16	ETSYETSY INC COM	29786A106	$331.95M	5,000,000	1.46%	-
17	XOPSPDR SERIES TRUST S&P OILGAS EXP	78468R556	$317.28M	2,400,000	1.40%	+0.0%
18	HYGISHARES TR IBOXX HI YD ETF	464288513	$308.52M	3,800,000	1.36%	-
19	XLVSELECT SECTOR SPDR TR SBI HEALTHCARE	81369Y209	$278.34M	2,000,000	1.23%	+0.0%
20	PEPPEPSICO INC COM	713448108	$179.06M	1,275,000	0.79%	New
21	DGIIDIGITAL RLTY TR INC COM	253868103	$172.88M	1,000,000	0.76%	+33.3%
22	BILLBILL HOLDINGS INC COM	90043100	$158.91M	3,000,000	0.70%	New
23	XMESPDR SERIES TRUST S&P METALS MNG	78464A755	$130.47M	1,400,000	0.57%	-50.9%
24	CCICROWN CASTLE INC COM	22822V101	$118.20M	1,225,000	0.52%	-
25	EQIXEQUINIX INC COM	29444U700	$117.49M	150,000	0.52%	-
26	SESEADRILL LTD COM	G7997W102	$111.89M	3,703,746	0.49%	-
27	IESCSENSATA TECHNOLOGIES HLDG PL SHS	G8060N102	$99.29M	3,250,000	0.44%	-
28	OROR ROYALTIES INC. COM SHS	68390D106	$87.38M	2,180,151	0.38%	-
29	WPMWHEATON PRECIOUS METALS CORP COM	962879102	$72.70M	650,000	0.32%	New
30	MSTRSTRATEGY INC NOTE 0.625% 3/1	594972AJ0	$35.88M	16,000,000	0.16%	-
31	WWAYFAIR INC NOTE 3.500%11/1	94419LAR2	$31.09M	15,000,000	0.14%	-
32	GLIBAGCI LIBERTY INC COM SER C	36164V800	$17.77M	476,895	0.08%	New
33	OXLCOXFORD LANE CAP CORP COM	691543847	$17.26M	1,019,239	0.08%	New

Position Changes

Stock	Value	Shares
UNITUNITI GROUP LLC	$361.15M	59,012,219
IGVISHARES TR	$345.03M	3,000,000
PEPPEPSICO INC	$179.06M	1,275,000
BILLBILL HOLDINGS INC	$158.91M	3,000,000
WPMWHEATON PRECIOUS METALS CORP	$72.70M	650,000
GLIBAGCI LIBERTY INC	$17.77M	476,895
OXLCOXFORD LANE CAP CORP	$17.26M	1,019,239