Elliot Management had an approximately 9% stake when they went after Dorsey [1], but have since liquidated it and own (if any) a significantly smaller portion. They’re not in the top few investors, anymore. [2]

The Twitter board was sued last year due to their deals with Elliot Management — and may not want to face a second, concurrent lawsuit about breach of duty. [3]

[1] https://www.forbes.com/sites/abrambrown/2021/04/01/jack-dors...

[2] https://www.investopedia.com/articles/insights/060916/top-3-...

[3] https://www.ft.com/content/5f3dd95f-8a7c-4f39-991a-87b2bc056...