Elliott Investment Management’s Big Moves in Q3: Travel & Tech Focus

## Elliott Investment Management’s Big Moves in Q3: Travel & Tech Focus

Elliott Investment Management, a prominent activist investor, had a busy third quarter, making notable changes to its portfolio. The firm’s focus shifted toward travel and lodging, with several new positions indicating a strong belief in the rebounding tourism sector.

New Positions: A Focus on Travel and Tech

Here’s a breakdown of Elliott’s new positions in Q3:

*

Utilities:

The firm took a new position in the

Utilities Select Sector SPDR Fund (XLU)

, suggesting a move towards diversification and potentially hedging against market volatility.
*

Technology:

Elliott made significant bets on tech companies, including

Arm Holdings Plc (ARM)

,

Texas Instruments Inc (TXN)

, and

Invesco QQQ Trust (QQQ)

. This signifies their confidence in the continued growth of the tech sector.
*

Airlines:

Elliott took new positions in

Alaska Air Group Inc (ALK)

and

American Airlines Group Inc (AAL)

, reflecting a bullish outlook on the airline industry’s recovery post-pandemic.
*

Lodging:

The firm added positions in

ICON Plc (ICLR)

,

IQVIA Holdings Inc (IQV)

, and

Marriott International (MAR)

. These investments indicate a belief in the potential for strong growth in the hotel and hospitality industry.

Notable Increases:

Beyond new positions, Elliott also significantly increased its holdings in several companies:

*

Southwest Airlines Co (LUV):

Elliott’s stake in Southwest Airlines surged by a remarkable 919%, showcasing a strong belief in the airline’s long-term prospects.
*

Western Digital Corp (WDC):

The firm increased its position in Western Digital by 90%, demonstrating confidence in the storage technology company’s growth potential.
*

Etsy Inc (ETSY):

Elliott expanded its stake in Etsy by 11%, suggesting a positive outlook on the online marketplace’s future performance.
*

Match Group, Inc (MTCH):

The firm’s position in Match Group grew by 3%, indicating a bullish view on the dating app company’s growth trajectory.

Strategic Trimming:

While Elliott expanded its holdings in several sectors, it also trimmed positions in certain companies:

*

BILL Holdings, Inc (BILL):

Elliott reduced its BILL Holdings stake by 24%, indicating a potential shift in strategy or a reassessment of the company’s valuation.
*

BlackLine, Inc (BL):

The firm decreased its BlackLine position by 20%, possibly reflecting concerns about the company’s growth prospects.
*

Seadrill Limited (SDRL):

Elliott trimmed its Seadrill stake by 9%, suggesting a cautious approach to the offshore drilling company’s future prospects.
*

NRG Energy Inc (NRG):

The firm reduced its NRG Energy stake by 7%, likely due to a reassessment of the energy sector’s outlook.

Elliott’s investment decisions during the third quarter offer valuable insights into the firm’s current investment strategy and its perspective on various industries. By focusing on travel and lodging, technology, and strategic adjustments in other sectors, Elliott is positioning itself for future growth while remaining cautious about certain market segments.