。
She took down the speech in shorthand.
Literal
She [topic-は] that speech's shorthand [object-を] took.
速記をとる ('to take down in shorthand') is a fixed phrase, parallel to English's 'take notes' or 'take dictation'. The の links 演説 ('speech') to 速記 in a possessive-like attributive: 'the speech's shorthand'. 速記 itself was a profession well into the late 20th century — courts, parliaments, and newsrooms employed dedicated shorthand-takers — though digital recording has eaten most of the work. Japanese shorthand has its own scripts (中根式, 早稲田式, V式) developed independently from Western systems, fitting the morphology of Japanese rather than the Latin alphabet.