Great investors · Paul Singer · Q4 2025
What Paul Singer bought and sold in Q4 2025
Elliott Management 13F portfolio as of Dec 31, 2025: 19 positions worth $14.5 bn. Largest: TFPM, PSX, SU, LUV. Filed with the SEC on Feb 17, 2026.
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 Q4 2025
No purchase of 0.5 points of the portfolio or more this quarter.
Sells in Q4 2025
No sale of 0.5 points of the portfolio or more this quarter.
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 Q4 2025 13F lists 19 lines of US-listed securities worth $14.5 bn; the largest is TFPM at 30.6% of the portfolio. It was accepted by the SEC on Feb 17, 2026 at 5:52 PM ET.
Against the previous quarter, it opened 2 positions (HDB and FSK), closed 1 (OXLC), added to 3 (OR, SDRL and GLIBK) 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 | $4.4 bn | 30.6% | no change |
| 2 | Phillips 66 PSX | 19.3 M | $2.5 bn | 17.1% | no change |
| 3 | Suncor Energy SU | 52.7 M | $2.3 bn | 16.1% | no change |
| 4 | Southwest Airlines LUV | 51.1 M | $2.1 bn | 14.5% | no change |
| 5 | Pinterest PINS | 28.0 M | $725M | 4.99% | no change |
| 6 | Hewlett Packard Enterprise HPE | 18.6 M | $448M | 3.08% | no change |
| 7 | Uniti Group UNIT | 59.0 M | $414M | 2.85% | no change |
| 8 | Ishares Tr HYG | 3.8 M | $306M | 2.11% | no change |
| 9 | ETSY ETSY | 5.0 M | $277M | 1.91% | no change |
| 10 | Pepsico PEP | 1.3 M | $183M | 1.26% | no change |
| 11 | BILL Holdings BILL | 3.0 M | $164M | 1.13% | no change |
| 12 | Seadrill SDRL | 4.6 M | $158M | 1.09% | +23% |
| 13 | Equinix EQIX | 150,000 | $115M | 0.79% | no change |
| 14 | OR Royalties OR | 3.1 M | $110M | 0.76% | +43% |
| 15 | Crown Castle CCI | 1.2 M | $109M | 0.75% | no change |
| 16 | Sensata Technologies Holding ST | 3.3 M | $108M | 0.74% | no change |
| 17 | Liberty Capital GLIBK | 659,928 | $24.6M | 0.17% | +38% |
| 18 | Hdfc Bank HDB | 216,756 | $7.9M | 0.05% | new |
| 19 | FS KKR Capital FSK | 264,850 | $3.9M | 0.03% | new |
Positions it closed (1)
- Oxford Lane Cap OXLCwas 0.13% · 1.0 M 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.