Activist Investor Paul Singer’s 5 Latest Stock Picks

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1. Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD)

Elliott Management’s Stake Value: $121.8 million

Percentage of Elliott Management’s 13F Portfolio: 1.4%

Number of Hedge Fund Holders: 26

Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) is an American manufacturer of rocket, hypersonic, and electric propulsive systems for space, defense, civil and commercial applications. As of June 30, Elliot Management’s stakes in the company sit at $121.8 million, representing 1.4% of the fund’s investment portfolio.

On August 16, Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) officially opened its Center of Excellence for Undersea Propulsion to support the U.S. Navy’s next generation torpedoes. The facility will be used to produce the company’s Stored Chemical Energy Propulsion System, or SCEPS, and the entire torpedo afterbody. Although the company will manufacture SCEPS boilers, produce tail cones and fully assemble the torpedo afterbodies, the new manufacturing facility will also be used to support production for existing Aerojet Rocketdyne contracts.

Insider Monkey found 26 hedge funds bullish on Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) at the close of Q2 2022. The total stakes of these hedge funds amounted to $772 million. This is compared to 29 positions in the previous quarter with stakes worth $730 million. New York-based hedge fund Steel Partners is the most prominent investor in Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) and has stakes worth $160.35 million in the company.

You can also take a look at 10 Best Aerospace Stocks to Buy Now and Billionaire Mario Gabelli’s Top 10 Stock Picks.

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