Elliott takes stake in LSEG and pushes for performance reset

LONDON — Activist hedge fund Elliott Investment Management has built a stake in London Stock Exchange Group and is engaging with the company to improve performance, according to a source familiar with the matter cited by Reuters and a separate report by Bloomberg.

Bloomberg said the size of Elliott’s position has not been disclosed and UK rules generally require investors to disclose holdings of 3% or more in publicly traded companies.

LSEG shares rose after the report, though the stock remains down more than 35% over the past year following a broad software‑sector selloff tied to artificial‑intelligence disruption concerns, Reuters said and RTE reported.

What Elliott is seeking

Elliott is encouraging LSEG to consider a fresh share buyback and close margin gaps with rivals, the Reuters source said, while the Financial Times reported the activist does not want a full sale or a spin‑off of the exchange business.

AI and data pressures

The pressure comes as LSEG’s data-and-analytics franchise faces questions about how AI reshapes pricing power and competition across financial information services, Reuters reported.

LSEG has been expanding its data distribution partnerships, including integrations with OpenAI’s ChatGPT and Anthropic’s Claude, as firms race to deploy generative‑AI tools that analyze market data quickly, according to Reuters.

Activist history

Elliott’s campaign also revives the group’s history with activists: a 2017 push by TCI to replace LSEG’s chairman ultimately failed, Reuters noted.

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