Hedge fund Elliott gains less than 2% through September, WSJ reports
Nov 2 (Reuters) - Elliott Investment Management posted flat returns in the third quarter and gained less than 2% in the first nine months of 2026, the Wall Street Journal reported on Monday, citing an investor letter reviewed by the newspaper.
Founded in 1977 by US billionaire Paul Singer, activist investor Elliott has taken large positions in firms including PepsiCo PEP.O and Synopsys SNPS.O, pushing for improved performance.
The $80 billion firm said that "at present, virtually every alarm bell warning of a substantial bear market ahead is ringing," according to the letter
The company did not immediately respond to a Reuters request for comment outside regular business hours
Elliott pointed to trading in zero-day options and meme stocks among market distortions it said were more akin to gambling than investing, the Journal said
A pullback in AI investment expectations could help trigger a severe market decline, Elliott added, according to the report