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Elliott Investment Management L.P.

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13F filer, CIK 1791786, WEST PALM BEACH, FL

Elliott Investment Management L.P. reported $18,121,579,802 across 31 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 94.74% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001013594-25-001045

Period
2025-06-30
Reported value
$18.1B
Holdings
31
Top 10 weight
94.74%
New
8
Sold out
18

Part of the filer group Elliott Investment Management L.P.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PSXadded+3,526,000$421M
HPEnew+18,630,978$381M
HYGnew+3,800,000$306M
ORnew+2,180,151$56.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BMRNexited-3,500,338-$247M
MTCHexited-6,000,000-$187M
E2OPEN PARENT HOLDINGS INCexited-27,250,000-$54.5M
OSISKO GOLD ROYALTIES LTDexited-2,180,151-$46M
HDBexited-670,215-$44.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001013594-25-001045, largest first. % of portfolio is the value over $12,150,036,302, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,815,727 shares; 2024Q4: 133,815,727 shares; 2025Q1: 133,815,727 shares; 2025Q2: 133,815,727 shares 133,815,727$3.17B26.09%0The filing omitted confidential holdings, a later amendment may add them.Timeline
PSXPHILLIPS 66Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 775,000 shares; 2024Q4: 775,000 shares; 2025Q1: 15,725,000 shares; 2025Q2: 19,251,000 shares 19,251,000$2.3B18.9%+3,526,000The filing omitted confidential holdings, a later amendment may add them.Timeline
SUSUNCOR ENERGY INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52,670,800 shares; 2024Q4: 52,670,800 shares; 2025Q1: 52,670,800 shares; 2025Q2: 52,670,800 shares 52,670,800$1.97B16.23%0The filing omitted confidential holdings, a later amendment may add them.Timeline
LUVSOUTHWEST AIRLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,116,500 shares; 2024Q4: 59,666,500 shares; 2025Q1: 53,978,500 shares; 2025Q2: 53,978,500 shares 53,978,500$1.75B14.41%0The filing omitted confidential holdings, a later amendment may add them.Timeline
PINSPINTEREST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,000,000 shares; 2024Q4: 28,000,000 shares; 2025Q1: 28,000,000 shares; 2025Q2: 28,000,000 shares 28,000,000$1B8.26%0The filing omitted confidential holdings, a later amendment may add them.Timeline
HPEHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 18,630,978 shares 18,630,978$381M3.14%newThe filing omitted confidential holdings, a later amendment may add them.Timeline
HYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,800,000 shares 3,800,000$306M2.52%newThe filing omitted confidential holdings, a later amendment may add them.Timeline
ETSYETSY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000,000 shares; 2024Q4: 5,000,000 shares; 2025Q1: 5,000,000 shares; 2025Q2: 5,000,000 shares 5,000,000$251M2.06%0The filing omitted confidential holdings, a later amendment may add them.Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,384,481 shares; 2024Q4: 2,384,481 shares; 2025Q1: 2,384,481 shares; 2025Q2: 2,384,481 shares 2,384,481$235M1.93%0The filing omitted confidential holdings, a later amendment may add them.Timeline
WDCWESTERN DIGITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,250,000 shares; 2024Q4: 2,250,000 shares; 2025Q1: 2,250,000 shares; 2025Q2: 2,250,000 shares 2,250,000$144M1.18%0The filing omitted confidential holdings, a later amendment may add them.Timeline
CCICROWN CASTLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,225,000 shares; 2024Q4: 1,225,000 shares; 2025Q1: 1,225,000 shares; 2025Q2: 1,225,000 shares 1,225,000$126M1.04%0The filing omitted confidential holdings, a later amendment may add them.Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 150,000 shares; 2025Q2: 150,000 shares 150,000$119M0.98%0The filing omitted confidential holdings, a later amendment may add them.Timeline
STSENSATA TECHNOLOGIES HLDG PLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,250,000 shares; 2024Q4: 3,250,000 shares; 2025Q1: 3,250,000 shares; 2025Q2: 3,250,000 shares 3,250,000$97.9M0.81%0The filing omitted confidential holdings, a later amendment may add them.Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,703,746 shares; 2024Q4: 3,703,746 shares; 2025Q1: 3,703,746 shares; 2025Q2: 3,703,746 shares 3,703,746$97.2M0.8%02026-10-08, 13D/A: 3,108,641 shares, 4.9% of the class, 13D/A filed 2026-10-08 The filing omitted confidential holdings, a later amendment may add them.Timeline
OROR ROYALTIES INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,180,151 shares 2,180,151$56.1M0.46%newThe filing omitted confidential holdings, a later amendment may add them.Timeline
UNITI GROUP INCUNITI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,120,963 shares; 2024Q4: 10,120,963 shares; 2025Q1: 10,120,963 shares; 2025Q2: 10,120,963 shares 10,120,963$43.7M0.36%0The filing omitted confidential holdings, a later amendment may add them.
SNDKSANDISK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 749,997 shares; 2025Q2: 749,997 shares 749,997$34M0.28%0The filing omitted confidential holdings, a later amendment may add them.Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHSput2,160,000$1.33Bnew
QQQINVESCO QQQ TR COMput2,000,000$1.1B+387,500
IWDISHARES TR ETFput5,000,000$971M-500,000
PEPPEPSICO INC COMput4,000,000$528Mnew
XLISELECT SECTOR SPDR TR INDLput3,500,000$516M-9,000,000
NVDANVIDIA CORPORATION COMput2,580,000$408Mnew
SMHVANECK ETF TRUST COMput1,000,000$279Mnew
IWMISHARES TR SHSput1,000,000$216M+500,000
GDXVANECK ETF TRUST GOLD MINERS ETFput4,000,000$208M+2,000,000
XMESPDR SERIES TRUST SHSput2,850,000$192M+1,500,000
DLRDIGITAL RLTY TR INC REITput750,000$131Mnew
HLTHILTON WORLDWIDE HLDGS INC Stockput320,000$85.2M+120,000

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
STRATEGY INCSTRATEGY INC NOTE 0.625% 3/1principal16,000,000$44.5M0
WAYFAIR INCWAYFAIR INC Convertible bondprincipal15,000,000$20.3M0

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BMRNBIOMARIN PHARMACEUTICAL INC3,500,338$247Mshares
MTCHMATCH GROUP INC NEW6,000,000$187Mshares
CSCOCISCO SYS INC2,000,000$123Mput
TXNTEXAS INSTRS INC500,000$89.8Mcall
XOPSPDR SERIES TRUST557,200$73.4Mput
BOOKING HOLDINGS INCBOOKING HOLDINGS INC25,000,000$61.4Mprincipal
E2OPEN PARENT HOLDINGS INCE2OPEN PARENT HOLDINGS INC27,250,000$54.5Mshares
MARMARRIOTT INTL INC NEW200,000$47.6Mput
OSISKO GOLD ROYALTIES LTDOSISKO GOLD ROYALTIES LTD2,180,151$46Mshares
HDBHDFC BANK LTD670,215$44.5Mshares
RAPID7 INCRAPID7 INC41,500,000$38.1Mprincipal
RIGTRANSOCEAN LTD11,870,319$37.6Mshares
CRMDCORMEDIX INC2,444,561$15.1Mshares
ARMARM HOLDINGS PLC139,551$14.9Mshares
HWMHOWMET AEROSPACE INC100,000$13Mshares
BLACKLINE INCBLACKLINE INC4,500,000$4.31Mprincipal
WOLFSPEED INCWOLFSPEED INC12,500,000$2.78Mprincipal
WOLFSPEED INCWOLFSPEED INC7,500,000$1.82Mprincipal

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001013594-25-001045 base2025-08-14acceptance time not in the bulk data set
13F-HR/A 0001013594-25-001443 addednew holdings2025-11-14acceptance time not in the bulk data set