Triple Flag: Elliott margin loans rise to $1.3B

Each additional lender would receive a security interest in allocated collateral, subject to limits on rights and remedies over securities allocated to other lenders.

Available on EDGAR 11/06/2026 - 05:01 PM EST Accepted by SEC EDGAR 11/06/2026 - 05:00 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Triple Flag Precious Metals Corp. (TFPM) is the issuer whose Common Shares TFM Aggregator pledged as collateral under amended margin-loan agreements reported by Elliott Investment Management L.P., acting as investment manager for Elliott International and Elliott. On November 6, 2026, the agreements with JPMorgan Chase Bank, N.A. and other lenders increased aggregate principal from $300 million to $1.3 billion.

TFM Aggregator pledged an additional 110,361,730 shares, bringing the Pledged Securities total to 133,241,535 shares. Elliott Investment Management L.P. reported beneficial ownership of 133,241,535 shares, or 64.8%, based on 205,685,460 Common Shares outstanding as of November 3, 2026. The agreements extend maturity to March 31, 2028, and additional lenders may join with proportionate allocations of pledged securities to their collateral accounts.

Key Figures

Aggregate principal under Margin Loan Agreements: $300 million to $1.3 billion Elliott International Margin Loan Agreement principal: $204 million to $884 million Elliott Margin Loan Agreement principal: $96 million to $416 million +4 more

7 metrics

Aggregate principal under Margin Loan Agreements $300 million to $1.3 billion Before and after the November 6, 2026 amendments

Elliott International Margin Loan Agreement principal $204 million to $884 million Before and after the November 6, 2026 amendments

Elliott Margin Loan Agreement principal $96 million to $416 million Before and after the November 6, 2026 amendments

Additional Common Shares pledged 110,361,730 shares In connection with the amended and restated Pledge Agreements

Pledged Securities 133,241,535 shares Following the additional pledges

Beneficial ownership 64.8% Elliott Investment Management L.P.'s reported ownership

Common Shares outstanding 205,685,460 shares As of November 3, 2026

Key Terms

Margin Loan Agreements, Pledged Securities, security interest, collateral accounts, +1 more

5 terms

Margin Loan Agreements financial

"aggregate principal amount under the Margin Loan Agreements"

Pledged Securities financial

"133,241,535 Common Shares constitute Pledged Securities"

security interest financial

"Each additional lender would be granted a security interest"

A security interest is a legal claim a lender or creditor holds on a borrower's asset as collateral to secure repayment; if the borrower fails to pay, the creditor can seize or sell that asset to recover money owed. Think of it like a pawnshop tag on an item that gives the pawnbroker the right to sell it if the loan isn't repaid. For investors, security interests matter because they change how safely lenders and bondholders can recover funds and affect the hierarchy of claims if a company faces financial trouble.

collateral accounts financial

"allocated to collateral accounts established for the additional lenders"

Collateral accounts are separate pools or accounts where assets—cash, securities, or other property—are held as a pledged guarantee for a loan, derivative, or other financial obligation. They matter to investors because these accounts reduce credit risk by giving creditors a claim on specific assets if the borrower defaults, similar to a locked savings box used as security for a loan, and they can affect an issuer’s liquidity and the recoverable value in stressed situations.

calculation agent financial

"as lender, administrative agent and calculation agent"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did each TFPM margin loan agreement increase to?

The Elliott International Margin Loan Agreement increased from $204 million to $884 million, and the Elliott Margin Loan Agreement increased from $96 million to $416 million.

How may additional lenders join the TFPM margin loans?

The agreements contemplate that additional lenders may become parties from time to time. A proportionate number of existing Pledged Securities may be allocated to collateral accounts for those lenders according to their commitments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

Triple Flag Precious Metals Corp.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

89679M104

(CUSIP Number)

Legal Department
Elliott Investment Management L.P, 360 S. Rosemary Ave, 18th Floor
West Palm Beach, FL, 33401
212-974-6000

Adriana Schwartz
Seward & Kissel LLP, One Battery Park Plaza
New York, NY, 10004
212-574-1200

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/06/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 89679M104

1

Name of reporting person

Elliott Investment Management L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 133,241,535.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 133,241,535.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

133,241,535.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

64.8 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, no par value
(b)	Name of Issuer: Triple Flag Precious Metals Corp.
(c)	Address of Issuer's Principal Executive Offices: TD CANADA TRUST TOWER, 161 BAY STREET, SUITE 4535, TORONTO, ONTARIO, CANADA , M5J 2S1.
Item 1 Comment: The following constitutes Amendment No. 4 ("Amendment No. 4") to the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on March 21, 2023, as amended by Amendment No. 1 to the Schedule 13D filed with the SEC on December 31, 2025, Amendment No. 2 ("Amendment No. 2") to the Schedule 13D filed with the SEC on March 31, 2026 and Amendment No. 3 to the Schedule 13D filed with the SEC on June 30, 2026 (as amended, the "Schedule 13D"). This Amendment No. 4 amends and restates Item 5(a) and supplements Items 4 and 6 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 4 have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	The information set forth in Item 6 of this Amendment No. 4, including, without limitation, information as to the rights and obligations of the Reporting Person pursuant to the terms of the agreements, instruments and other matters described therein, is hereby incorporated by reference.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover page to this Amendment No. 4 for the aggregate number of Common Shares and percentage of the Common Shares beneficially owned by the Reporting Person. The aggregate percentage of Common Shares reported beneficially owned by the Reporting Person is based upon 205,685,460 Common Shares outstanding as of November 3, 2026, as disclosed in Exhibit 99.1 to the Report of Foreign Private Issuer on Form 6-K filed by the Issuer with the SEC on November 3, 2026.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Amendment and Restatement of Margin Loan Agreements On November 6, 2026, the Reporting Person, in its capacity as investment manager on behalf of Elliott International and Elliott, entered into amended and restated versions of the Elliott International Margin Loan Agreement and the Elliott Margin Loan Agreement (collectively, the "Amended and Restated Margin Loan Agreements") with JPMorgan Chase Bank, N.A., as lender, administrative agent and calculation agent, and the other lenders party thereto from time to time (including any additional lenders that may become parties thereto in accordance with the terms thereof), pursuant to which (i) the aggregate principal amount under the Elliott International Margin Loan Agreement was increased from $204 million to $884 million and (ii) the aggregate principal amount under the Elliott Margin Loan Agreement was increased from $96 million to $416 million, representing an increase in the aggregate principal amount under the Margin Loan Agreements from $300 million to $1.3 billion. In connection with the Amended and Restated Margin Loan Agreements, TFM Aggregator entered into amended and restated versions of the Pledge Agreements (the "Amended and Restated Pledge Agreements"), pursuant to which TFM Aggregator pledged an additional 110,361,730 Common Shares as collateral to secure the obligations of Elliott International and Elliott thereunder. Following these additional pledges, an aggregate of 133,241,535 Common Shares constitute Pledged Securities under the Amended and Restated Pledge Agreements. The Amended and Restated Margin Loan Agreements and the Amended and Restated Pledge Agreements contemplate that additional lenders may become parties thereto from time to time and that further technical amendments may be entered into to accommodate these additional lenders. In connection with the admission of any additional lenders, a proportionate number of the existing Pledged Securities may be allocated to collateral accounts established for the additional lenders in accordance with their respective commitments under the Amended and Restated Margin Loan Agreements. Each additional lender would be granted a security interest in the Pledged Securities, subject to the terms of the applicable Amended and Restated Pledge Agreement, including limitations on the exercise of rights and remedies with respect to Pledged Securities held in collateral accounts allocated to other lenders. The Amended and Restated Margin Loan Agreements also provide for an extension of the maturity date to March 31, 2028. Except as described above, the material terms of the financing arrangements previously disclosed in Amendment No. 2 remain substantially unchanged.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Elliott Investment Management L.P.

Signature:	/s/ Elliot Greenberg
Name/Title:	Elliot Greenberg, Vice President
Date:	11/06/2026