Great investors · Paul Singer · Q2 2025
What Paul Singer bought and sold in Q2 2025
Elliott Management 13F portfolio as of Jun 30, 2025: 17 positions worth $12.1 bn. Largest: TFPM, PSX, SU, LUV. Filed with the SEC on Aug 14, 2025.
The 13F is filed by Elliott Management, not by Paul Singer personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q2 2025
- IncreasedPhillips 66PSX+3.5 pp
- NewHewlett Packard EnterpriseHPE+3.2 pp
- NewIshares TrHYG+2.5 pp
Sells in Q2 2025
- Sold outBioMarin PharmaceuticalBMRN−2.0 pp
- Sold outMatch GroupMTCH−1.5 pp
5 companies with material moves, out of 5 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Elliott Management's Q2 2025 13F lists 17 lines of US-listed securities worth $12.1 bn; the largest is TFPM at 26.2% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 5:10 PM ET.
Against the previous quarter, it opened 2 positions (HPE and HYG), closed 8 (BMRN, MTCH, E2open Parent Holdings and HDB and 4 more), added to 1 (PSX) and trimmed none. 14 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Triple Flag Precious Metals TFPM | 133.8 M | $3.2 bn | 26.2% | no change |
| 2 | Phillips 66 PSX | 19.3 M | $2.3 bn | 19.0% | +22% |
| 3 | Suncor Energy SU | 52.7 M | $2.0 bn | 16.3% | no change |
| 4 | Southwest Airlines LUV | 54.0 M | $1.8 bn | 14.5% | no change |
| 5 | Pinterest PINS | 28.0 M | $1.0 bn | 8.31% | no change |
| 6 | Hewlett Packard Enterprise HPE | 18.6 M | $381M | 3.15% | new |
| 7 | Ishares Tr HYG | 3.8 M | $306M | 2.54% | new |
| 8 | ETSY ETSY | 5.0 M | $251M | 2.08% | no change |
| 9 | Liberty Broadband LBRDK | 2.4 M | $235M | 1.94% | no change |
| 10 | Western Digital WDC | 2.3 M | $144M | 1.19% | no change |
| 11 | Crown Castle CCI | 1.2 M | $126M | 1.04% | no change |
| 12 | Equinix EQIX | 150,000 | $119M | 0.99% | no change |
| 13 | Sensata Technologies Holding ST | 3.3 M | $97.9M | 0.81% | no change |
| 14 | Seadrill SDRL | 3.7 M | $97.2M | 0.80% | no change |
| 15 | OR Royalties OR | 2.2 M | $56.1M | 0.46% | no change |
| 16 | Uniti Group | 10.1 M | $43.7M | 0.36% | no change |
| 17 | Sandisk SNDK | 749,997 | $34.0M | 0.28% | no change |
Positions it closed (8)
- BioMarin Pharmaceutical BMRNwas 2.27% · 3.5 M shares
- Match Group MTCHwas 1.71% · 6.0 M shares
- E2open Parent Holdings was 0.50% · 27.3 M shares
- Hdfc Bank HDBwas 0.41% · 670,215 shares
- Transocean RIGwas 0.34% · 11.9 M shares
- Cormedix CRMDwas 0.14% · 2.4 M shares
- ARM Holdings ARMwas 0.14% · 139,551 shares
- Howmet Aerospace HWMwas 0.12% · 100,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Elliott Management's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.