Elliott investment management

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Calls for Enhanced Leadership & Oversight, Monetization of Retail Stores and Operational Review Sees $21 per Share Value-Creation Opportunity, 179% Upside to Current Share Price Full Letter and Presentation Available at AcceleratingGT.com WEST PALM BEACH, Fla., May 11, 2023 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an investment representing an approximately 10% economic interest in The Goodyear Rubber & Tire Company (NASDAQ: Goodyear-Cumulative-Total-Return-Relative-to-Peers Elliott is one of Goodyear's largest investors because it has strong conviction in the significant value-creation opportunity achievable at the Company, the letter said. Despite the Company's strong brand, leading market share and favorable industry tailwinds, Goodyear's stock has meaningfully and consistently underperformed. The Company's poor stock performance is a direct result of its significant margin erosion, suboptimal go-to-market strategy, and unfocused brand strategy, which have collectively led to a loss of investor confidence, according to the letter. To deliver improved results and restore investor confidence in Goodyear, Elliott believes the Company must pursue the critical steps detailed in its Accelerating Goodyear plan, including: • Enhancing Leadership & Oversight: Appoint five new highly qualified independent directors to the Board to improve governance, bring about a cultural change and help restore confidence among investors. • M...

WEST PALM BEACH, Fla., March 1, 2023 /PRNewswire/ -- Elliott Investment Management L.P. (together with its affiliates, "Elliott") today released the following statement on behalf of Managing Partner Jesse Cohn and Senior Portfolio Manager Jason Genrich regarding Salesforce, Inc. (NYSE: Elliott has been in close, substantive dialogue with Salesforce leading up to today's earnings statement. Salesforce's set of announcements today represents progress towards regaining investor trust. The acceleration of margin targets, commitment to responsible capital-return priorities, creation of a business transformation committee and disbanding of the M&A committee are necessary steps forward. These steps are consistent with our recommendations, and we believe they will help restore value at Salesforce. The strength of Salesforce's business and its movement in the right direction are key reasons we are among the company's top investors, but much work remains: Salesforce needs a sustainable leadership plan and a board that demonstrates it can provide accountability through proper oversight. To fully earn back the confidence and support of investors, Salesforce leadership must now deliver on its promises. Elliott intends to continue working with Salesforce as we evaluate the level of engagement necessary to achieve the best outcome for the company. About Elliott Elliott Investment Management L.P. manages more than $55 billion of assets. Its flagship fund, Elliott Associates, L.P., was fou...

Elliott Investment Management L.P. 13F annual report Elliott Investment Management L.P. is an investment fund managing more than $4.69 billion ran by Paul Singer. There are currently 20 companies in Mr. Singer’s portfolio. The largest investments include Marathon Pete Corp, together worth $2.2 billion. $4.69 billion Assets Under Management (AUM) As of 8th August 2022, Elliott Investment Management L.P.’s top holding is 41,065,000 shares of Relative to the number of outstanding shares of Howmet Aerospace, Elliott Investment Management L.P. owns less than approximately 0.1% of the company. In addition, the fund holds 11,065,000 shares of Marathon Pete Corp worth $910 million. The third-largest holding is Peabody Engr Corp worth $552 million and the next is Nielsen Hldgs Plc worth $385 million, with 16,600,000 shares owned. Currently, Elliott Investment Management L.P.'s portfolio is worth at least $4.69 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. Recent trades In the most recent 13F filing, Elliott Investment Management L.P. revealed that it had opened a new position in This means they effectively own approximately 0.1% of the company. Suncor makes up 82.9% of the fund's Energy sector allocation and has decreased its share price by approximately 0.1% in the past year. The investment fund also strengthened its position in Marathon Pete Corp by buying 495,000 ad...

CHICAGO & NEW YORK & LONDON--( The acquisition of Paper Source by Elliott allows the stationery and gift retailer to emerge from Chapter 11 with the support of a well-capitalized owner committed to the development and growth of the business. Following the Chapter 11 process, Paper Source will benefit from significantly less debt on its balance sheet. It will operate from approximately 130 stores across the US, from Papersource.com, as well as its wholesale division, Waste Not Paper by Paper Source. Elliott is also the owner of Barnes & Noble, the leading bookseller in the US with bookstores in every state. The businesses are highly complementary, with shared product ranges and a common commitment to excellent customer service. While the businesses will continue to operate independently, considerable opportunities exist for mutually beneficial retail partnerships. Barnes & Noble has enjoyed a strong performance since its acquisition by Elliott in September 2019, overcoming a number of pandemic-imposed challenges. Elliott now looks forward to the continued progress of both retailers. James Daunt, CEO of Barnes & Noble, will have oversight responsibilities for both companies. James Daunt, CEO of Barnes & Noble said: “I look forward to working closely with everyone at Paper Source. This is a wonderful brand, with a unique culture and community. With Paper Source’s management team, we will support and accelerate the brand’s strategic growth initiatives. Alongside this, the oppo...

NEW YORK, LONDON (August 7, 2019)—Barnes & Noble, Inc. (NYSE: BKS, “Barnes & Noble”) announced today the successful closing of its acquisition by funds advised by Elliott Advisors (UK) Limited (“Elliott” or the “Offeror”). Elliott’s acquisition of Barnes & Noble, the largest retail bookseller in the United States, follows its June 2018 acquisition of Waterstones, the largest retail bookseller in the United Kingdom. Barnes & Noble serves 627 different communities across all 50 states, where it remains the #1 bookseller in the United States. Elliott seeks to build upon this strong foundation as it addresses the significant challenges facing the bricks and mortar book retail space in the United States, applying a model that successfully turned around Waterstones over the past decade. Elliott will own both Barnes & Noble and Waterstones and, while each bookseller will operate independently, James Daunt will serve as CEO of both companies and relocate from London to New York. James Daunt, CEO of Barnes & Noble said, “This is a very good day for bookselling. Barnes & Noble is the greatest of all bookstore names and will now benefit from the support of an owner committed to physical bookselling. With investment and concentration on the core principles of good bookselling, the prospects for this extraordinary company are bright. I look forward very much to working with the booksellers at Barnes & Noble, being already indebted to Len Riggio for his wisdom and grateful for the welco...

Number of employees 482 (2022) Evergreen Coast Capital Corp., Website .com Footnotes/references Elliott Investment Management is an American It is the management affiliate of American By 2009 "more than one-third of Elliott’s portfolio was concentrated in In October 2020 Singer announced that his firm was relocating its headquarters to Overview [ ] Singer created Elliott Associates in January 1977, The firm is currently closed to new investors. As of mid-2008, Elliott counted 175 employees in In a November 2014 investment letter, Elliott described optimism about U.S. growth as unwarranted. "Nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth," Elliott wrote. "When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors." In 2015, Institutional Investor/Alpha magazine gave Elliott an A grade and the #9 ranking among hedge funds worldwide. Equity partners [ ] Elliott has seven equity partners. Affiliates and units [ ] • Hambledon, Inc. is a • • Kensington International Ltd. is a subsidiary of Elliott Management. • Maidenhead LLC and Warrington LLC are US entities that are controlled by Singer. • Elliott Advisors (UK) Ltd. is "a London-based advisor to Elliott." • Elliott Advisors (HK) Limited is "the Hong Kong arm of Elliott Management." • Manchester Securities Corporation. Investments [ ] Early activities [ ] E...

Recommends Renewed Focus on Leadership, Operations And Strategy & Capital Allocation Changes Sees More Than $5 Billion Value Creation Opportunity, Driving Stock to $55 per Share Full Letter and Presentation Available at RepowerNRG.com WEST PALM BEACH, Fla., May 15, 2023 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an investment of approximately $1 billion representing a more than 13% economic interest in NRG Energy, Inc. (NYSE: Elliott previously disclosed a large investment in NRG in 2017, and its engagement with the Company catalyzed the highly successful Transformation Plan and resulted in NRG becoming the best-performing stock in the S&P 500 in that year, Elliott wrote. In its letter, Elliott said that since the conclusion of its prior engagement with NRG, the Company has meaningfully underperformed due to a number of operational and strategic missteps. Among the missteps, Elliott wrote, is the Company's recent acquisition of Vivint, which, measured by the one-week market reaction following its announcement, was the single worst deal in the power and utilities sector in the past decade. In its letter, Elliott outlined the necessary steps for the Company to take to right the course in the following three areas: • Leadership: Add new independent directors with strong power and energy industry expertise to refresh the Board and help guide the necessary changes • Operations:Improve operations and reliability. Achieve at leas...

May 11 (Reuters) - Activist investor Elliott Investment Management L.P. disclosed a large investment in Goodyear Tire & Rubber Co Elliott holds a 10% stake in the 125-year-old company, making it one of Goodyear's biggest investors. The investment firm, which manages $55 billion in assets, is proposing that five new directors join the 12-member board. Goodyear can use proceeds from selling the store network to pay down debt, improve its balance sheet and financial flexibility, Elliott said in a letter to the board, which it made public. All of Elliott's proposed changes could boost Goodyear's stock price about $21 to the low-$30 range, it said. On Thursday afternoon, the stock jumped 19% to $14.05. Over the last five years the stock has fallen 47%, with a 50% loss in 2022. Elliott, which has a history of taking board seats at companies including Twitter and eBay, said it has identified "experienced executives to spearhead" a board overhaul. Elliott declined to name the candidates and said it hopes to engage constructively with Goodyear. The company said its board and management team "have a strong track record of making value-enhancing strategic decisions on behalf of shareholders" and regularly reviews its strategic plan to ensure that "Goodyear is best positioned to deliver strong, sustainable shareholder value." Elliott criticized Goodyear, valued at $3.3 billion, for mismanagement and lagging its rivals, Michelin and Bridgestone. Despite its long history, Goodyear has "...