Elliott buys Transocean, sells Valaris in Q1

Paul Singer’s Elliott Management disclosed in an SEC filing its holdings as of March 31, 2024. The fund’s new buys during the first quarter included, in order of size, Transocean (RIG), HDFC Bank (HDB), iShares Bitcoin Trust (IBIT), and Nvidia (NVDA). Elliott exited a number of positions during the quarter, including by size of previous position iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), Fidelity National (FNF), Valaris (VAL), and Reservoir Media (RSVR). The fund increased its stake in Suncor Energy (SU), Match Group (MTCH), BioMarin (BMRN), Etsy (ETSY), and Liberty Broadband Class C (LBRDK), while it reduced its stake in Peabody Energy (BTU), Marathon Petroleum (MPC), Howmet (HWM), and Seadrill (SDRL). Elliott’s top holdings as of March 31, in order of size, were Suncor Energy, Triple Flag (TFPM), Marathon, Pinterest (PINS), and NRG Energy (NRG).