In a significant portfolio shift, Paul Singer's Elliott Management reduced its holdings in Suncor Energy by 44% during the second quarter of 2026. According to its latest 13F filing, the activist firm sold over 23 million shares, decreasing its stake from 52.67 million to 29.45 million. The sale lowered the reported value of Elliott's position from $3.48 billion to $1.58 billion and reduced Suncor's weight in its portfolio from over 17% to just under 7%.
This disclosure is based on a quarterly report and reflects trades executed between April 1 and June 30, 2026. The reduction comes after a period of strong performance for Suncor, which matched its all-time quarterly record for adjusted funds from operations in Q2 2026. Notably, after the quarter ended, Elliott released a statement in early August expressing support for Suncor's CEO transition plan, suggesting continued engagement with the company's management.