LBRDK Overview

Elliott Investment Management's Market Strategy: Paul Singer's firm has shifted its market hedges, increasing its bearish position on gold miners while establishing a bullish stance on the Nasdaq 100, as indicated by its third-quarter 13F filing.

Significant Changes in Holdings: Elliott raised its put position on the VanEck Gold Miners ETF to 11.5 million shares and initiated a new call option on the Invesco QQQ Trust, reflecting a strategic focus on sector-specific opportunities.

New Positions in Consumer Staples and Energy: The firm also opened substantial new put options on the Consumer Staples Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, indicating a bearish outlook on these sectors.

Portfolio Growth and Exits: Elliott's total 13F portfolio value increased from $17.6 billion to $22.7 billion, while it exited significant positions in the S&P 500 ETF and the VanEck Semiconductor ETF, suggesting a shift in investment strategy.

New Positions: Baupost Group, led by Seth Klarman, established new stakes in Union Pacific Corp, Genuine Parts Company, and Americold Realty Trust during the third quarter, with Union Pacific becoming one of the fund's top holdings.

Exited Positions: The hedge fund completely exited its investments in several companies, including Liberty Broadband Class A, Amcor PLC, and Viasat Inc, among others.

Changes to Existing Positions: Significant increases in shares were noted for Elevance Health (+114%) and Restaurant Brands International (+104%), while notable decreases were seen in WESCO International (-32%) and Alphabet Inc (-29%).

Top Holdings: As of September 30, the fund's major holdings included Restaurant Brands International (11%), Alphabet (9.4%), and Elevance Health (8.9%), with Dollar General being the only position that remained unchanged in the third quarter.