Elliott Investment Management Bets Against Nvidia In Q4 (CORRECTED)

Editor's Note: This article has been updated to clarify that Elliott Investment Management purchased convertible senior notes of Wolfspeed and MicroStrategy.

Elliott Investment Management made several portfolio moves in the fourth quarter, closing multiple options positions and shaking up the activist firm’s technology exposure.

According to a new 13-F filing with the U.S. Securities and Exchange Commission, Elliott added the following new positions in the fourth quarter:

• Wolfspeed Inc (NYSE:WOLF) 0.25% and 1.875% convertible senior notes

• NVIDIA Corp (NASDAQ:NVDA) put options

• SPDR Select Sector Fund Industrial (NYSE:XLI) put options

• SPDR S&P Oil & Gas Exploration & Production (NYSE:XOP) put options

Here's a look at all of the positions Elliott added to during the fourth quarter:

• Invesco QQQ Trust (NASDAQ:QQQ) increased by 369%

• MicroStrategy Inc (NASDAQ:MSTR) increased convertible senior notes by 200%

• CorMedix Inc (NASDAQ:CRMD) increased by 85%

• HDFC Bank Limited (NYSE:HDB) increased by 6%

Here’s a look at all of the positions Elliott closed during the fourth quarter:

• Catalent Inc (CTLC)

• Cardinal Health Inc (NYSE:CAH)

• Unity Software Inc (NYSE:U)

• BILL Holdings Inc (NYSE:BILL)

Elliott closed out of calls in several names including Arm Holdings, American Airlines and Alaska Air Group. The firm also closed multiple put positions including Equinix, Hyatt Hotels and Host Hotels.

Here's a look at all of the positions Elliott trimmed during the fourth quarter:

• ICON Plc (NASDAQ:ICLR) decreased by 62%

• RingCentral Inc (NYSE:RING) decreased by 55%

• NRG Energy Inc (NYSE:NRG) decreased by 50%

• Confluent Inc (NASDAQ:CFLT) decreased by 37%

• Southwest Airlines Co (NYSE:LUV) decreased by 2%

The above information does not include call or put options that were added to or trimmed during the quarter.

This information was gathered using comparison tools from 13f.info.

Read Next:

• 5 Top Tech Stocks Hedge Funds Have Been Bullish On In Q4 (Hint: It’s Not Nvidia)

This illustration was generated using artificial intelligence via Midjourney.