Elliott Management, founded by Paul Singer, manages about $51 billion in assets. The billionaire hedge fund manager has established himself as one of the world’s most formidable activists. Silver Lake Partners, an Elliott ally, bought $1 billion in convertible bonds from Twitter. Elliott’s attempt to replace Twitter CEO Jack Dorsey was eventually carried out, but only after great fanfare and media attention.
Insider Monkey took a look at Investor Paul Singer’s top ten stocks for 2022. E2open Parent Holdings, Inc. is one of Paul Singer’s 13F portfolio’s less well-known names. While Singer increased his holdings in the company by 3% in Q1, hedge fund ownership of the stock decreased by 28%. On March 31, 23 hedge funds owned shares of Evergy, Inc., down from 40 in the middle of 2020. During the first quarter, Paul Singer sold 77 percent of his previous interest in the company, leaving him with 2.24 million shares. During the first quarter, Elliott Management’s 5.79 million shares in Switch, Inc. were unchanged. DigitalBridge and IFM Investors have agreed to buy the data center company for $34.25 a share. Elliott Management, which is owned by Paul Singer, has the largest position in Uniti Group Inc. The company has constructed a fiber network that spans 7.5 million strand miles. In 2022, Uniti Group expects adjusted funds from operations to be between $1.77 per share, up 4% over the previous year. Hedge funds increased their stake in SU by 21% in the first quarter, and it has roughly doubled since the third quarter of 2020. Suncor had a record-breaking first quarter, generating $4.1 billion in adjusted funds from operations. The cash infusion was used to boost the company’s dividend and spend more than $1.5 billion on stock repurchases and debt repayment. For more details, click Feared Activist Investor Paul Singer’s Top 10 Stocks for 2022.