Paul Singer’s Latest Portfolio: Top 5 Stock Picks

1. Howmet Aerospace Inc. (NYSE:HWM)

Elliott Management’s Stake Value: $1,291,494,000

Percentage of Elliott Management’s 13F Portfolio: 14.89%

Number of Hedge Fund Holders: 39

Howmet Aerospace Inc. (NYSE:HWM) retained its spot as Elliott Management’s top stock pick for the third quarter in a row at the end of Q2. Howmet Aerospace Inc. (NYSE:HWM) came into existence after Arconic Corporation (NYSE:ARNC) announced in mid-2020 that its board had approved the company’s separation into two independent, publicly traded companies. Elliott Management has had a history with Arconic Corporation (NYSE:ARNC), where the fund had engaged in a bitter fight with the company’s board a few years ago.

Since it started trading publicly as an independent company, Howmet Aerospace Inc.’s (NYSE:HWM) stock has more than doubled and currently trades up by 16% year-to-date. On August 4, the company reported non-GAAP earnings per share of $0.35 on revenue of $1.39 billion for the second quarter of its fiscal year 2022, while analysts had projected it to report non-GAAP EPS of $0.33 on revenue of $1.37 billion. Along with its earnings release, Howmet Aerospace Inc. (NYSE:HWM) also raised its full-year guidance for FY 2022. It now expects revenue between $5.645 billion and $5.715 billion and adjusted EPS between $1.38 and $1.42. The company had earlier estimated FY 2022 revenue to be in the $5.56 billion and $5.72 billion range and adjusted EPS between $1.33 and $1.45.

You can also look at  Simon Sadler’s Segantii Capital is Bullish on These 10 Stocks and 7 Best Stocks to Buy According to Stephen Feinberg’s Cerberus Capital Management 

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