Elliott buys Transocean, cuts Southwest Air in Q1

Paul Singer’s Elliott Management disclosed in an SEC filing its holdings as of March 31, 2026. The fund’s two new buys during the first quarter included, by size of position, Norwegian Cruise (NCLH) and Transocean (RIG). Elliott exited four positions during the quarter, including by size of previous position iShares iBoxx USD High Yield Corporate Bond ETF (HYG), Bill Holdings (BILL), Sensata (ST), andd FS KKR Capital (FSK). The fund increased its stake in HP Enterprise (HPE), Seadrill (SDRL), and HDFC Bank (HDB), and reduced its stake Southwest Air (LUV) and Triple Flag (TFPM). Elliott’s top holdings as of March 31, in order of size, were Triple Flag, Phillips 66 (PSX), Suncor (SU), Southwest Air, and HP Enterprise.