Top 10 Stock Picks of Elliott Management

8. Catalent, Inc. (NYSE:CTLT)

Elliott Management’s Stake Value: $225.80 Million

Number of Hedge Fund Holders: 41

Catalent, Inc. (NYSE:CTLT) is one of the top 10 holdings of Elliott Management and was part of its 15 activist investment campaign last year. The company, which develops and manufactures solutions for drugs, protein-based biologics, and gene therapies, was forced to reach an agreement with the activist investor mid-last year on agreeing to include new directors and pledge a review of strategic alternatives such as a sale.

Elliott Management’s efforts have paid off as Catalent, Inc. (NYSE:CTLT) has rallied more than 28% year to date. It has also agreed to be acquired by Novo Nordisk in a deal that values it at $16.5 billion. The deal comes on the company being a target of takeover interest from private equity firms for some time.

Insider Monkey’s database shows that hedge fund interest in Catalent, Inc. (NYSE:CTLT) increased in the first quarter of 2024. The number of hedge funds with stakes in the company increased from 28 in the fourth quarter of 2023 to 41 in the first quarter of 2024.