Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Elliott Investment Management
activist
A
Reliability stable可靠性稳定
leaderboard rank榜单排名 #13FADE淡出
Book持仓规模
$22.7B
long US listed only仅美股多头
Positions持仓数
28
100% resolved已解析
Top-10 concentration前十集中度
87%
% of book占组合%
Turnover换手
LOW
22.9% per quarter每季
Median excess中位超额
-3%
buys vs SPY, since filing买入相对SPY，自披露起 · n 168
Hit rate胜率
39%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Technology (Equal-Weight) — added HPE, SNPS (+6.9pp of book this quarter)核心倾向：信息技术（等权） — 本季度加仓 HPE、SNPS（占组合 +6.9pp）
Technology (Equal-Weight)信息技术（等权）
+6.9pp
6.9% of book held占组合持有
· 2 names标的
· US Sectors (EW)
HPE
SNPS
Non-AI Tech & Hardware非AI科技与硬件
+6.4pp
6.4% of book held占组合持有
· 1 names标的
· Semiconductors & Hardware
HPE
Travel & Experiences旅行与体验
+1.4pp
6.9% of book held占组合持有
· 2 names标的
· Consumer Cyclical
NCLH
Consumer Discretionary (Equal-Weight)非必需消费（等权）
+1.4pp
1.4% of book held占组合持有
· 1 names标的
· US Sectors (EW)
NCLH
Quantum Computing量子计算
+0.1pp
0.1% of book held占组合持有
· 1 names标的
· AI & Technology
QNT
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 13 scored quarters已评分季度 · 23% positive为正 · recent-4 median近4季中位 -2% vs all-time对全期 -3%
Median excess by quarter各季度中位超额: ▃▁▃▄▃▅█▅▄▂▄▄ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 17 | -8% | 41% | +1% |
| 2023-09-30 | 15 | -8% | 33% | +2% |
| 2023-12-31 | 16 | -32% | 19% | -5% |
| 2024-03-31 | 14 | -12% | 29% | -1% |
| 2024-06-30 | 18 | -0% | 50% | -0% |
| 2024-09-30 | 18 | -6% | 33% | -1% |
| 2024-12-31 | 5 | +6% | 60% | -0% |
| 2025-03-31 | 9 | +29% | 78% | -3% |
| 2025-06-30 | 12 | +6% | 58% | +0% |
| 2025-09-30 | 15 | -1% | 47% | +12% |
| 2025-12-31 | 7 | -15% | 14% | -24% |
| 2026-03-31 | 11 | -3% | 36% | -1% |
| 2026-06-30 | 11 | -2% | 18% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Unclassified
37.1%
▲ +17.9pp
Energy
22.4%
▼ -14.0pp
Basic Materials
18.1%
▼ -5.6pp
Technology
6.9%
▲ +3.6pp
Communication Services
5.6%
▲ +0.1pp
Industrials
5.5%
▼ -0.5pp
Consumer Cyclical
3.0%
▲ +0.6pp
Consumer Defensive
0.8%
▼ -0.2pp
Real Estate
0.7%
▼ -1.9pp
Theme categories主题类别
Energy & Power 14.4%
Consumer Cyclical 6.9%
Semiconductors & Hardware 6.4%
US Sectors (EW) 1.1%
Consumer Defensive 0.8%
AI & Technology 0.1%
Rotating into (QoQ)轮入（环比）
Technology +3.6pp
Consumer Cyclical +0.6pp
Communication Services +0.1pp
Rotating out of (QoQ)轮出（环比）
Energy -14.0pp
Basic Materials -5.6pp
Real Estate -1.9pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Unclassified 37% · Energy 22% · Basic Materials 18% |
| 2026-03-31 | Energy 36% · Basic Materials 24% · Unclassified 19% |
| 2025-12-31 | Unclassified 34% · Energy 22% · Basic Materials 20% |
| 2025-09-30 | Unclassified 37% · Energy 22% · Basic Materials 18% |
| 2025-06-30 | Unclassified 31% · Energy 25% · Basic Materials 18% |
| 2025-03-31 | Unclassified 28% · Energy 27% · Basic Materials 17% |
| 2024-12-31 | Unclassified 46% · Industrials 12% · Basic Materials 12% |
| 2024-09-30 | Unclassified 47% · Basic Materials 11% · Energy 11% |
| 2024-06-30 | Unclassified 44% · Energy 21% · Basic Materials 12% |
| 2024-03-31 | Unclassified 42% · Energy 26% · Basic Materials 12% |
| 2023-12-31 | Unclassified 58% · Energy 13% · Basic Materials 10% |
| 2023-09-30 | Unclassified 43% · Energy 24% · Basic Materials 14% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。28 positions shown项持仓 · resolved已解析 28/28 (100%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  TFPM |
Triple Flag Precious Metal | 17.6% | $4.0B | hold | -0% | — | 70 · HIGH | Basic Materials | Precious | +6% |
| 2 |  PSX |
Phillips 66 | 14.4% | $3.3B | hold | +0% | — | 69 · MODERATE | Energy | US Energy Complex, Energy (Equal-Weight) | +10% |
| 3 |  QQQ |
Invesco Qqq Tr | 11.3% | $2.6B | add | +770% | 1q | 72 · HIGH | — | — | -1% |
| 4 |  SU |
Suncor Energy Inc New | 7.0% | $1.6B | trim | -44% | — | 66 · MODERATE | Energy | — | +6% |
| 5 | HPE |
Hewlett Packard Enterprise C | 6.4% | $1.5B | add | +18% | 2q | 75 · HIGH | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -2% |
| 6 |  IGV |
Ishares Tr | 6.3% | $1.4B | new | — | 1q | 79 · HIGH | — | — | +6% |
| 7 |  LUV |
Southwest Airls Co | 5.5% | $1.2B | trim | -20% | — | 62 · MODERATE | Industrials | Travel & Experiences, Industrials (Equal-Weight) | -7% |
| 8 |  XLI |
Select Sector Spdr Tr | 4.2% | $959M | trim | -31% | — | 61 · MODERATE | — | — | -7% |
| 9 |  XLY |
Select Sector Spdr Tr | 3.7% | $833M | add | +65% | 2q | 70 · HIGH | — | — | -2% |
| 10 |  XLP |
Select Sector Spdr Tr | 3.5% | $800M | hold | +5% | — | 49 · MODERATE | — | — | +1% |
| 11 |  GDX |
Vaneck Etf Trust | 3.0% | $690M | add | +151% | 1q | 38 · LOW | — | — | +4% |
| 12 |  IHI |
Ishares Tr | 3.0% | $687M | new | — | 1q | 36 · LOW | — | — | -2% |
| 13 |  UNIT |
Uniti Group Llc | 3.0% | $677M | hold | +0% | — | 30 · LOW | Communication Services | IT & Telecom | +2% |
| 14 |  PINS |
Pinterest Inc | 2.6% | $589M | hold | +0% | — | 29 · LOW | Communication Services | Ads & Search, Social, Networks | -13% |
| 15 |  ETSY |
Etsy Inc | 1.7% | $377M | hold | +0% | — | 28 · LOW | Consumer Cyclical | E-Commerce, Marketplaces, Social | -6% |
| 16 | NCLH |
Norwegian Cruise Line Hldgs | 1.4% | $310M | add | +11% | 2q | 36 · LOW | Consumer Cyclical | Travel & Experiences, Consumer Discretionary (Equal-Weight) | -14% |
| 17 |  PEP |
Pepsico Inc | 0.8% | $173M | hold | +0% | — | 25 · LOW | Consumer Defensive | Defensives, Consumer Staples (Equal-Weight) | +1% |
| 18 |  SDRL |
Seadrill Ltd | 0.7% | $168M | hold | -6% | — | 24 · LOW | Energy | — | +4% |
| 19 |  SMH |
Vaneck Etf Trust | 0.7% | $164M | new | — | 1q | 28 · LOW | — | — | -7% |
| 20 |  EQIX |
Equinix Inc | 0.7% | $156M | hold | +0% | — | 21 · LOW | Real Estate | Real Estate (Equal-Weight) | -4% |
| 21 | SNPS |
Synopsys Inc | 0.5% | $101M | new | — | 1q | 15 · LOW | Technology | Technology (Equal-Weight) | -2% |
| 22 |  OR |
Or Royalties Inc. | 0.4% | $98M | hold | +0% | — | 19 · LOW | Basic Materials | — | — |
| 23 |  XME |
Spdr Series Trust | 0.4% | $96M | hold | +0% | — | 18 · LOW | — | — | -5% |
| 24 |  RSP |
Invesco Exchange Traded Fd T | 0.4% | $84M | new | — | 1q | 21 · LOW | — | — | -1% |
| 25 |  RIG |
Transocean Ltd | 0.3% | $76M | hold | +0% | — | 15 · LOW | Energy | — | -1% |
| 26 |  IWM |
Ishares Tr | 0.3% | $75M | trim | -50% | — | 14 · LOW | — | — | -4% |
| 27 |  HDB |
Hdfc Bank Ltd | 0.1% | $21M | hold | +0% | — | 12 · LOW | — | — | +0% |
| 28 | QNT |
Quantinuum Inc | 0.1% | $12M | new | — | 1q | 6 · LOW | — | Quantum Computing | -24% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (11)
| QQQ add |
11.3% | -1% |
| HPE add |
6.4% | -2% |
| IGV new |
6.3% | +6% |
| XLY add |
3.7% | -2% |
| GDX add |
3.0% | +4% |
| IHI new |
3.0% | -2% |
| NCLH add |
1.4% | -14% |
| SMH new |
0.7% | -7% |
| SNPS new |
0.5% | -2% |
| RSP new |
0.4% | -1% |
| QNT new |
0.1% | -24% |
Rotated out of轮出 (12)
| SU trim |
-44% | +6% |
| LUV trim |
-20% | -7% |
| XLI trim |
-31% | -7% |
| IWM trim |
-50% | -4% |
 CCI exit |
-100% | +3% |
 DLR exit |
-100% | -4% |
 EMR exit |
-100% | -5% |
 FTV exit |
-100% | -9% |
 GLIBK exit |
-100% | +2% |
 HYG exit |
-100% | +1% |
 IWD exit |
-100% | +1% |
 WPM exit |
-100% | +11% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。