Elliott Takes Short Position in French Oil Giant TotalEnergies

Dow Jones
2025/03/08
 

By Adria Calatayud

 

Activist hedge fund Elliott Management took a short position in French oil giant TotalEnergies, according to a regulatory filing, a move that comes shortly after the investor built a stake in Britain's BP.

The short position--or a bet that the stock will fall--amounts to 0.52% of TotalEnergies' capital, according to a regulatory filing published Friday. Elliott took the position on Thursday, the filing showed.

TotalEnergies didn't immediately respond to a request for comment.

The short position is part of Elliott's global hedging program, a person familiar with the matter said.

Elliott recently took a stake in BP with a view to pushing for significant changes. The investor also built a more-than-$2.5 billion stake in Phillips 66, which this week said Elliott had nominated seven directors to its board.

 

Write to Adria Calatayud at adria.calatayud@wsj.com

 

(END) Dow Jones Newswires

March 07, 2025 12:57 ET (17:57 GMT)

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