Paul Singer’s Elliott Management Sold These Positions in 3Q17

Elliott Management’s top sells

In the previous part, we discussed Elliott Management’s largest holdings in 3Q17. In this part, we’ll look at Elliott Management’s top sells in 3Q17.

Paul Singer’s Elliott Management Sold These Positions in 3Q17

The top sells of Elliott Management in 3Q17 were the PowerShares QQQ ETF (QQQ) put option, the iShares iBoxx $ High Yield Corp Bd ETF (HYG) put option, the Energy Select Sector SPDR ETF (XLE) put option, the Technology Select Sector SPDR ETF (XLK) put option, and the Marathon Petroleum (MPC) call option.

When investors buy a put option, it generally indicates that they are becoming bearish on the underlying asset. However, Elliott Management reduced its put option position in major technology ETFs and energy ETFs in 3Q17, which suggests that the firm is becoming positive about these sectors. The firm also reduced some of its position in the Marathon Petroleum (MPC) call option. The reduced position in the call option is indicating that the firm isn’t fully optimistic about the future performance of this stock.

Elliott Management’s top buys in 3Q17

The iShares iBoxx $ High Yield Corp Bd ETF (HYG) CALL option, Ocean Rig UDW (ORIG), NXP Semiconductors (NXPI), Peabody Energy (BTU), and the VanEck Vectors Semiconductor ETF (SMH) put option were the firm’s top buys in 3Q17.

You may be interested to read, A Look at Warren Buffett’s Stock Picks in 3Q17.