Activist investor Elliott Management bet on this little-known independent music stock during the first quarter, according to recent securities filings.
Activist investor Elliott Management unveiled a new stake in a little-known independent music stock during the first quarter, according to recent securities filings. The Florida-based hedge fund founded by billionaire Paul Singer in 1977 bought about 402,000 shares of Reservoir Media totaling $2.6 million during the period as he liquidated his position in News Corp . Meanwhile, Singer hiked his stake in Triple Flag Precious Metals — his second-largest holding — by 3.
The prominent investor also opened a call option on the Invesco QQQ Trust totaling about $2.6 billion and a put equaling $300.9 million. As the energy sector slumped, Singer maintained his $1.49 billion stake in Marathon Petroleum , and positions in Noble Corp . and Suncor Energy . Singer reduced his bet on Peabody Energy by 8.3%. Elliott also liquidated its nearly $47.5 million stake in Aerojet Rocketdyne . On the technology front, Singer maintained his $761.
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