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Benzinga
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Paul Singer's $2 Billion Energy Power Play: Phillips 66, Suncor Among Elliott's Top Holdings

1. Elliott Investment Management increased its energy sector exposure to 37.64%. 2. PSX stake increased by 2,000%, totaling 15.73 million shares. 3. PSX now comprises 12.81% of Elliott's $15.2 billion portfolio. 4. Singer's move emphasizes confidence in traditional energy amid broader market shifts. 5. Elliott trimmed broader market exposure, focusing on direct energy plays.

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FAQ

Why Bullish?

Elliott's significant investment in PSX shows strong institutional confidence, historically boosting stock prices.

How important is it?

Significant investment by a major fund indicates strong future performance potential for PSX.

Why Short Term?

The market reaction to Elliott's investment could lead to a rapid uptick in PSX's price.

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