Jun 5, 2026 – 2.22pmWhen activist hedge fund Elliott Management revealed itself to have built a position of over $1 billion in gold miner Northern Star on Tuesday, it couldn’t have hoped for a better reaction. The stock popped about 10 per cent on the open, closing up 13.5 per cent, and then gained another 4.5 per cent the day after.The two-day pop was also great news for any other Northern Star shareholders who suffered the indignity of owning a gold mine while missing out on the spoils of a blockbuster bull run for the precious metal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Wall Street activism returns to ASX with Elliott’s Northern Star play
Elliott Management made a big splash on the ASX back in 2017 when it took on BHP. But times have changed and lessons have been learnt for all parties.
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