Elliott Management Corp. exited its positions in four companies during the fourth quarter of 2020, selling a combined $681.6 million worth of shares, according to S&P Global Market Intelligence data.

The hedge fund offloaded its 1.44% stake in eBay Inc., representing its largest exit in the quarter in terms of monetary value at $515.8 million, according to federal Form 13F filings. The exit came nearly two years after Elliott called for the restructuring of the e-commerce company.

The hedge fund also sold its 3.26% interest in Noble Energy Inc. worth $134 million, marking its largest exit in terms of number of shares. Noble Energy was acquired by Chevron Corp. for $13 billion in October 2020.

Other exits included its 0.10% stake in Welltower Inc. valued at $22.0 million and its 1.40% stake in B. Riley Financial Inc. worth $8.9 million.

Elliott's activity in terms of volume further slowed in the last quarter of the year. The firm exited its positions in five companies during the third quarter, seven companies in the second quarter and nine companies in the first quarter.

The hedge fund's largest common stock investment as of Dec. 31, 2020, is a $1.82 billion stake in Dell Technologies Inc., representing 3.31% ownership interest. Howmet Aerospace Inc. again came in at second at $1.19 billion, representing a 9.60% stake in the company.

On a percentage basis, Elliott's largest stake is its 29.57% interest in Peabody Energy Corp., worth $69.7 million. None of the firm's other common stock shareholdings exceed 10% among companies covered by S&P Global Market Intelligence.