Finance
Elliott presses LSEG for portfolio review, 5 billion pound buyback, source says
Published by Global Banking & Finance Review®
Posted on February 19, 2026
2 min readLast updated: February 19, 2026
Quick Summary
Elliott Investment Management is urging LSEG to conduct a full portfolio review and pursue a £5bn buyback. It sees assets like Tradeweb as undervalued and wants LSEG to stress AI as an opportunity.
Elliott urges LSEG to review portfolio, launch £5bn share buyback
Feb 18 (Reuters) - Activist investor Elliott Investment Management is pressing London Stock Exchange Group to conduct a full review of its portfolio and launch a 5 billion pound ($6.76 billion) buyback, a person familiar with the matter said on Wednesday.
This comes days after Reuters reported that Elliott took a stake in LSEG and started engaging with the company on ways to boost performance. LSEG's shares have dropped more than 30% in the past 12 months, pressured further by a sharp global selloff in software stocks.
While Elliott has not made specific requests to LSEG on asset disposals, it sees the group's 51% stake in U.S.-listed Tradeweb Markets as a potential route to generate cash, the person said, adding that the fund considers all of LSEG's portfolio as undervalued.
Elliott declined to comment to a request for comment from Reuters, which provides news for LSEG's news and data terminal, Workspace, and other products.
An LSEG spokesperson said the company "maintains an active and open dialogue with our investors, while remaining focused on executing our strategy."
The investor is pressing LSEG leadership to more effectively communicate that the group cannot be disintermediated by large language models and that AI offers an opportunity rather than a threat to the company, the person said.
Engagement between Elliott and LSEG has been constructive so far, the person added.
Bloomberg News first reported Elliott's plan earlier on Wednesday.
($1 = 0.7401 pounds)
(Reporting by Bipasha Dey in Bengaluru, Charlie Conchie in London; Editing by Maju Samuel, Anousha Sakoui)
Key Takeaways
- •Elliott Investment Management is pressing LSEG for a full portfolio review and a £5bn share buyback.
- •The activist views LSEG’s assets, including its Tradeweb stake, as undervalued despite no specific disposal demands.
- •LSEG shares have fallen over 30% in the last 12 months amid a wider software-stock selloff.
- •Elliott wants clearer messaging that AI is an opportunity for LSEG, not a threat.
- •Engagement between Elliott and LSEG has been constructive, according to a person familiar.
Frequently Asked Questions about Elliott presses LSEG for portfolio review, 5 billion pound buyback, source says
1What is Elliott asking LSEG to do?
Elliott Investment Management is urging LSEG to conduct a full review of its portfolio and to launch a £5 billion share buyback. The push aims to boost performance and shareholder value. ([streetinsider.com](https://www.streetinsider.com/Reuters/Elliott%2Bpresses%2BLSEG%2Bfor%2Bportfolio%2Breview%2C%2B5%2Bbillion%2Bpound%2Bbuyback%2C%2Bsource%2Bsays/26020822.html?utm_source=openai))
2Has Elliott requested specific asset disposals at LSEG?
No, Elliott has not made specific disposal requests. However, it views LSEG’s 51% stake in U.S.-listed Tradeweb Markets as a potential source of cash. ([streetinsider.com](https://www.streetinsider.com/Reuters/Elliott%2Bpresses%2BLSEG%2Bfor%2Bportfolio%2Breview%2C%2B5%2Bbillion%2Bpound%2Bbuyback%2C%2Bsource%2Bsays/26020822.html?utm_source=openai))
3How has LSEG’s share price performed over the past year?
LSEG’s shares have fallen more than 30% in the last 12 months. The decline was exacerbated by a broader selloff in software stocks. ([streetinsider.com](https://www.streetinsider.com/Reuters/Elliott%2Bpresses%2BLSEG%2Bfor%2Bportfolio%2Breview%2C%2B5%2Bbillion%2Bpound%2Bbuyback%2C%2Bsource%2Bsays/26020822.html?utm_source=openai))
4What AI-related message does Elliott want LSEG to communicate?
Elliott wants LSEG to emphasize that its business cannot be disintermediated by large language models and that AI represents an opportunity, not a threat. ([streetinsider.com](https://www.streetinsider.com/Reuters/Elliott%2Bpresses%2BLSEG%2Bfor%2Bportfolio%2Breview%2C%2B5%2Bbillion%2Bpound%2Bbuyback%2C%2Bsource%2Bsays/26020822.html?utm_source=openai))
5Who first reported Elliott’s plan and how is the dialogue described?
Bloomberg News first reported the plan earlier on Wednesday. Engagement between Elliott and LSEG has been described as constructive so far. ([streetinsider.com](https://www.streetinsider.com/Reuters/Elliott%2Bpresses%2BLSEG%2Bfor%2Bportfolio%2Breview%2C%2B5%2Bbillion%2Bpound%2Bbuyback%2C%2Bsource%2Bsays/26020822.html?utm_source=openai))
