With Elliott $4bn stake in PepsiCo. They're coming with changes.
https://finance.yahoo.com/news/elliott-management-plans-activist-campaign-113341334.html
Their history....
Elliott takes activist stakes in companies to push for operational improvements, board changes, and other measures to boost shareholder value. Recent and ongoing campaigns include:
PepsiCo ($4 billion stake): Revealed on September 2, 2025, this is reportedly Elliott's largest equity position ever. The firm is advocating for changes to address stagnant share prices and slow growth in PepsiCo's food and beverage segments.
Medtronic: In August 2025, Medtronic added two new board members following a period of underperformance, partially influenced by Elliott's involvement.
Phillips 66: After building a multi-billion-dollar stake, Elliott successfully pushed for changes at the energy refiner in 2024. In February 2025, the fund reportedly increased its stake and is seeking further changes, including a potential spin-off of the midstream business.
Honeywell: In late 2024, Elliott took a stake of over $5 billion and called for the conglomerate to break up, a move it later announced. Elliott subsequently gained a seat on the company's board.
Starbucks: In 2024, Elliott took a large stake in the coffee company and played a role in the ouster of its CEO amid slumping sales.
Equinix: Yahoo Finance reported in July 2025 that Elliott had increased its stake in the digital infrastructure company