Elliott Management's £850m Short Against Shell Marks Largest Bet in Nine Years

The activist hedge fund's move is part of a hedging strategy tied to its £3.5 billion stake in BP, as it pressures energy giants to prioritize oil and gas investments.

• Elliott Investment Management has disclosed an £850 million short position against Shell, the largest such bet against the company since 2016.
• This short position, representing 0.5% of Shell's stock, is part of Elliott's strategy to hedge its £3.5 billion stake in BP.
• Elliott is pressuring BP to shift focus from renewables to oil and gas production, aligning with BP CEO Murray Auchincloss's revised strategy.
• Shell CEO Wael Sawan has announced cost-cutting measures aimed at closing valuation gaps with U.S. competitors like Chevron and ExxonMobil.
• Elliott's actions, including smaller shorts in TotalEnergies and Repsol, underscore its influential role in reshaping strategies within the energy sector.

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