Billionaire Paul Singer’s Top 10 Holdings and Recent Moves
In this article, we discuss billionaire Paul Singer's top 10 holdings and recent moves. If you want to see more stocks in this selection, check out Billionaire Paul Singer's Top 5 Holdings.
Paul Singer is one of the most successful hedge fund managers on Wall Street. He rose to fame by focusing on underperforming companies, launching activist campaigns to unlock value. Elliot Management is the hedge fund he founded in 1977 that has become one of the largest and most followed hedge funds in Wall Street.
Elliot's management record speaks for itself, having generated a 5.9% gain in 2022 at the height of a bearish run that saw the S&P 500 plunge 19%.
Since its inception in 1977, the hedge fund has only lost money in two years, affirming its reputation in the highly competitive business. Billionaire investor Singer has been the driving force behind the hedge fund’s impressive performance.
The legendary investor has always had a knack for identifying opportunities and trying to profit from them. He is one of the few investors who accurately predicted the 2008 financial crisis and benefited from it even as other investors remained cautious. The investor has always relied on aggressive investment strategies, consistently outperforming the market. For instance, he racked up significant returns on credit default swaps that bet on leveraged companies during the crisis.
Singer warned that the US economy was teetering at a complex and confusing period in June. The legendary investor raised concerns about the high valuations depicted by an explosive rally in the equity markets. The Nasdaq 100 is already up by more than 35%, with the S&P 500 up by about 15%.
Singer also raised concerns about the prospects of paltry returns in the real estate sector as the high-interest rate environment continues to take a toll on potential home buyers’ purchasing power.
Paul Singer of Elliott Management
"Valuations are still very high. There's a significant chance of recession. We see the possibility of a lengthy period of low returns in financial assets, low returns in real estate, corporate profits, unemployment rates higher than exist now and lots of inflation in the next round,” Singer said.
Our Methodology
By scanning Elliott Management’s 13F Q2 Holdings, we have compiled a list of billionaire Paul Singer's top holdings.
Billionaire Paul Singer's Top Holdings and Recent Moves
10. Liberty Broadband Corporation (NASDAQ:LBRDA)
Elliott Management’s Stake Value: $128.18 Million
Percent of Portfolio: 1.12%
Number of Hedge Fund Holders: 23
Liberty Broadband Corporation (NASDAQ:LBRDA) is a communication services company offering data, wireless video voice, and managed services to residential customers' businesses, government-gentle education and medical institutions in Alaska. Liberty Broadband Corporation (NASDAQ:LBRDA) also provides mobile and voice, subscription-based internet and video services for small and medium-sized businesses.
Liberty Broadband Corporation (NASDAQ:LBRDA) attracted 23 hedge funds out of the 910 that Insider Monkey tracks in the June quarter of 2023.
9. Syneos Health, Inc. (NASDAQ:SYNH)
Elliott Management’s Stake Value: $139.04 Million
Percent of Portfolio: 1.22%
Number of Hedge Fund Holders: 51
Syneos Health, Inc. (NASDAQ:SYNH) is an integrated biopharmaceutical company that provides contract research and commercial services to pharmaceutical and biotechnology companies. Based in Morrisville, North Carolina, Syneos Health, Inc. (NASDAQ:SYNH) specializes in helping companies with late-stage clinical trials. In addition, the company translates unique clinical medical affairs and commercial insights into outcomes that address modern market realities.
Syneos Health, Inc. (NASDAQ:SYNH) saw a significant increase in hedge fund interest in the second quarter, according to Insider Monkey’s database. The number of bullish hedge funds rose from 29 in the previous quarter to 51 in the second quarter.
8. Cardinal Health, Inc. (NYSE:CAH)
Elliott Management’s Stake Value: $189.14 Million
Percent of Portfolio: 1.66%
Number of Hedge Fund Holders: 44
Cardinal Health, Inc. (NYSE:CAH) is one of billionaire Paul Singer's top holdings in the healthcare sector, specializing in providing customized solutions for hospitals, healthcare systems, pharmacies, surgery centres, and clinical laboratories.
Insider Monkey’s database shows that hedge fund interest in Cardinal Health, Inc. (NYSE:CAH) dropped in the second quarter of 2023. The number of hedge funds with stakes in the company fell from 50 in the first quarter to 44 in the second quarter. The total value of these stakes was more than $1.36 billion.
7. Seadrill Limited (NYSE:SDRL)
Elliott Management’s Stake Value: $291.25 Million
Percent of Portfolio: 2.56%
Number of Hedge Fund Holders: 30
Seadrill Limited (NYSE:SDRL) provides offshore contract drilling services to the oil and gas industry while operating under three segments: harsh environments, floaters, and jack-up rigs. In addition, Seadrill Limited (NYSE:SDRL) owns and operates drill ship’s semi-submersible rigs and jack-up rigs for shallow ultra-deepwater drilling operations.
Seadrill Limited (NYSE:SDRL) is one of the companies that has benefited from an uptick in oil and gas prices with the opening and growth of the global economy. The stock is already up by more than 30% for the year, emerging as one of billionaire Paul Singer's top stocks.
6. Suncor Energy Inc. (NYSE:SU)
Elliott Management’s Stake Value: $293.55 Million
Percent of Portfolio: 2.58%
Number of Hedge Fund Holders: 33
Suncor Energy Inc. (NYSE:SU) is a Canadian energy company that produces synthetic crude oil from oil sands and operates offshore in Canada.
During the second quarter, 33 hedge funds had positions in Suncor Energy Inc. (NYSE:SU), according to Insider Monkey’s database. The value of these stakes was $889.5 million. Paul Singer’s Elliott Management was the leading shareholder of Suncor Energy Inc. (NYSE:SU) with shares worth $293.55 million.
Click to continue reading and see Billionaire Paul Singer's Top 5 Holdings.
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Disclosure: None. Billionaire Paul Singer's Top 10 Holdings and Recent Moves is originally published on Insider Monkey.
