Top 10 Stock Picks of Elliott Management

5. NRG Energy Inc. (NYSE:NRG)

Elliott Management’s Stake Value: $701.20 Million

Number of Hedge Fund Holders: 44

NRG Energy Inc. (NYSE:NRG) is an energy and home services company that produces and sells electricity generated using coal, oil, solar, and battery storage. It is turning out to be one of the best-performing stocks in Elliott Management’s portfolio, going by the 43% year-to-date gain. Elliott Management confirmed a 13% stake in NRG Energy Inc. (NYSE:NRG) worth $1 billion last year.

The impressive run comes a year after Elliott’s management launched an activist campaign posing for an overhaul of NRG Energy Inc. (NYSE:NRG)’s board. In addition, the hedge fund pushed for the unwinding of the security firm acquisition of Vivint Smart Home.

As of the end of the first quarter of 2024, 44 hedge funds tracked by the Insider Monkey database held stakes in NRG Energy Inc. (NYSE:NRG), an improvement from 31 as of 2023.