Singapore markets open in 8 hours 34 minutes
  • Straits Times Index

    +13.02 (+0.40%)
  • S&P 500

    -6.75 (-0.16%)
  • Dow

    +76.65 (+0.23%)
  • Nasdaq

    -63.03 (-0.50%)

    -122.63 (-0.53%)
  • CMC Crypto 200

    -2.02 (-0.38%)
  • FTSE 100

    -8.32 (-0.11%)
  • Gold

    -15.90 (-0.89%)
  • Crude Oil

    -0.01 (-0.01%)
  • 10-Yr Bond

    +0.1640 (+6.13%)
  • Nikkei

    +243.67 (+0.87%)
  • Hang Seng

    +27.90 (+0.14%)
  • FTSE Bursa Malaysia

    -6.16 (-0.41%)
  • Jakarta Composite Index

    +27.31 (+0.39%)
  • PSE Index

    -77.61 (-1.20%)

Elliott dissolves stake in Duke Energy, discloses stake in Suncor

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK (Reuters) -New York-based Elliott Investment Management, one of the world's most prominent activist investors, has dissolved its stake in Duke Energy Corp, the firm disclosed in a regulatory filing on Monday.

Elliott owned 1 million shares at the end of the fourth quarter, according to a filing made in February. At the end of the first quarter, it no longer owned the stock, the filing made on Monday shows.

The so-called 13F filings, made on Monday, show what investment managers owned at the end of the previous quarter and while they are backward looking, they are widely reviewed for signs of investment trends.

The activist investor disclosed a stake last year and had been pushing Duke to consider splitting into three companies.

However, Duke said in November it would add two directors backed by Elliott to its board as part of a deal.Elliott last year launched 17 campaigns marking its most active year since 2018, data from Lazard show. It targeted companies, including Twitter, Duke Energy, Citrix and Willis Towers Watson.

The firm also disclosed on Monday it had 10 million common shares in Canada's Suncor Energy Inc. Elliott is pushing to add new board directors, overhaul management and begin a strategic review, saying that its shares have lagged even as crude prices surged to multi-year highs.

(Reporting by Megan Davies; additional reporting by Svea Herbst-Bayliss; Editing by Leslie Adler and Aurora Ellis)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting