Top 10 Stock Picks of Elliott Management

7. SeaDrill Limited (NYSE:SDRL)

Elliott Management’s Stake Value: $285.80 Million

Number of Hedge Fund Holders: 39

SeaDrill Limited (NYSE:SDRL) is one of Elliott Management’s investment players in the energy sector, providing offshore contract drilling services to the oil and gas industry. It owns and operates drill rigs, semi-submersible rigs, and jack-up rigs.

SeaDrill Limited (NYSE:SDRL) is up by about 17% for the year as it benefits from an uptick in oil prices in 2024 above the $ 75-a-barrel level. The company has also been returning value to shareholders through buybacks as part of a $200 million program.

Insider Monkey’s database shows that hedge fund interest in SeaDrill Limited (NYSE:SDRL) dropped in the first quarter of 2024. The number of hedge funds with stakes in the company fell from 40 in the fourth quarter of 2023 to 39 in the first quarter of 2024.