By Lauren Thomas
Elliott Investment Management just finished its busiest year since 2018 as an activist investor.
The hedge fund was involved in 15 activist campaigns in 2024, the most of any major activist and the most since it ran 20 campaigns in 2018, according to FactSet. It added 10 directors to public company boards, including at Tinder owner Match Group and building-solutions provider Johnson Controls.
At Southwest Airlines, Elliott launched a proxy fight that culminated in half the board resigning and the airline's executive chairman, Gary Kelly, announcing his early retirement after Elliott called a special meeting.
Elliott partner Marc Steinberg also got a board seat at Etsy following private negotiations.
Elliott influenced changes at other companies in 2024 including Texas Instruments, Honeywell, Starbucks and the big wireless-tower owner Crown Castle.
The firm, which managed some $70 billion as of June 30, has also been putting more and more money behind its activist bets. Elliott had an average position size of $1.7 billion in 2024, based on disclosed and reported figures.
Elliott's strategies include real-estate investing, private equity and distressed debt. But the firm is best-known for its work in shareholder activism. Meanwhile, other big-name activists have slowed their fire.
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(END) Dow Jones Newswires
January 02, 2025 12:34 ET (17:34 GMT)
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