Below we present the list of Feared Activist Investor Paul Singer’s Top 5 Stocks for 2022. For our methodology and a more comprehensive list please see Feared Activist Investor Paul Singer’s Top 10 Stocks for 2022.
5. Twitter, Inc. (NASDAQ:TWTR)
Value of Elliott Management‘s 13F Position: $387 million
Number of Hedge Fund Shareholders (as of March 31): 66
Kicking off the second half of this article is Twitter, Inc. (NASDAQ:TWTR), which Elliott Management maintained its position in during Q1, owning an even 10 million shares at both the start and end of the first quarter. Hedge fund ownership of Twitter has slumped heavily in the last year, sliding by 39%.
However, the latest hedge fund ownership data came in just before Tesla, Inc. (NASDAQ:TSLA) CEO, technology wunderkind, and free speech advocate Elon Musk declared his substantial ownership stake in Twitter, Inc. (NASDAQ:TWTR) in early April. Musk followed that up by eventually buying the social media platform outright for $44 billion in a deal that is still awaiting shareholder and regulatory approval.
It will certainly be interesting to see how Elliott reacts to Musk buying Twitter, Inc. (NASDAQ:TWTR). Elliott partnered with Egon Durban, an ally of Musk’s who heads the activist fund Silver Lake Partners, in a bid to force former Twitter CEO Jack Dorsey from his role. That initiative succeeded and Durban has remained on Twitter’s board to this day even after shareholders voted to block his re-election to the board in late May. Twitter refused to accept Durban’s resignation, vowing to checkmated shareholders that Durban would leave some of his other board positions, since that was obviously the only issue shareholders could have possibly had with him.