Paul Singer’s Latest Portfolio: Top 10 Stock Picks

5. NRG Energy, Inc. (NYSE:NRG)

Elliott Management’s Equity Stake: $433.06 Million

Number of Hedge Funds Holding Stakes: 53

NRG Energy, Inc. (NYSE:NRG) is an integrated energy and consumer services company that produces and sells electricity, natural gas, and energy-related products and services to residential, commercial, industrial, and wholesale customers. It was one of the best-performing stocks in Elliott Management’s portfolio in 2024 after gaining 48%.

After an impressive run in 2024, the company has moved to reinforce its position as a leading energy generator in Texas with the acquisition of six power generation facilities. The acquisition adds 738 megawatts of natural gas-fired capacity. The company remains well-positioned to benefit from record electricity demand due to population growth and data center growth.

Furthermore, NRG Energy, Inc. (NYSE:NRG) has strategically invested $2.5 million in Equilibrium Energy, a business that specializes in using artificial intelligence (AI) technologies to optimize energy portfolios. The investment is a component of NRG’s endeavors to tackle grid stability issues brought on by elements including load expansion, the incorporation of renewable energy sources, and severe weather. The investments come from the company delivering solid fourth-quarter 2024 results. Earnings per share totaled $1.56, better than analysts expected $1.08. Revenue totaled $6.86 billion.