In this article, we’ll look at Billionaire Glenn Russell Dubin’s 10 Stock Picks with Huge Upside Potential.
Glenn Russell Dubin is one of the industry’s most experienced hedge fund managers, best known as the co-founder of Highbridge Capital Management, a multi-strategy investment business he founded with Henry Swieca in 1992. Before being bought by JPMorgan Chase in 2004, the firm quickly rose to prominence as one of Wall Street’s most sophisticated hedge funds. As of March 2024, Highbridge Capital manages more than $7.1 billion in discretionary assets and has a focused exposure to growth industries.
Dubin has long been involved in basic research and multi-asset investing through Highbridge and his private investment firm, Dubin & Company. His portfolio demonstrates a high-conviction strategy, with the top ten holdings accounting for more than 40% of reported 13F equities. Dubin’s top stock picks frequently coincide with broader macroeconomic themes, such as monetary easing, capital market expansion, and industrial revival, making them excellent bets for long-term investors looking for asymmetric risk-reward ratios.
The background for these investments is especially attractive. Financial markets rebounded strongly in 2024, with financial equities up more than 30% by the end of the year, owing to lower inflation, lower interest rates, and strong investor sentiment. Even if the United States’ GDP growth is expected to fall from 2.7% in 2024 to 1.5% in 2025, hopes of Fed rate cuts and a more stable regulatory environment are keeping financial industry momentum alive. Meanwhile, growing corporate refinancing needs and record-high consumer debt are steering capital into private credit and asset-backed lending—areas where Highbridge has traditionally excelled.
The industrial sector is also experiencing a significant revival, with a 26% increase in 2024 driven by demand for reshored manufacturing, clean energy buildout, and infrastructure construction. With only a quarter of the $1.9 trillion in planned North American infrastructure projects underway, there is still enormous growth potential. At the same time, reduced interest rates are expected to boost housing activity, and aerospace demand is expected to rise as airlines revamp their aged fleets. These macroeconomic drivers continue to provide appealing entry points for cyclical names with long-term upside.
Tariff concerns have increased volatility in the equity markets, particularly in light of proposed higher tariffs on steel and aluminum imports. However, other investors see this as a temporary disruption that could eventually benefit domestic manufacturers and capital goods industries. In reality, leading market commentators argue that predictions of a fresh wave of trade protectionism are exaggerated, with underlying fundamentals remaining strong across major value industries.
In that scenario, this may be a good time to follow experienced managers such as Glenn Dubin. As markets reset and valuations in banking and industrial stocks decline from their 2024 highs, the opportunity to purchase into structurally good companies at a discount is wide open. Highbridge Capital’s recent bets indicate trust in sectors that are not only rebounding but evolving, and these top stock picks might provide considerable upside as the market rebalances in 2025.
With this backdrop of altering market dynamics and strategic sector tailwinds, let’s look at Billionaire Glenn Russell Dubin’s 10 Stock Picks with Huge Upside Potential.
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Methodology
To compile a list of Billionaire Glenn Russell Dubin’s 10 Stock Picks with Huge Upside Potential, we studied Greenlight Capital’s Q4 2024 13F filings to identify billionaire Glenn Russell Dubin’s stock picks with the most upside potential. We evaluated the firms in ascending order of upside potential. These stocks are also popular with elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Hess Corporation (NYSE:HES)
Number of Hedge Fund Holders: 92
Upside Potential: 27.40%
Hess Corporation (NYSE:HES) is an exploration and production company that develops, produces, and sells crude oil, natural gas liquids, and natural gas. The company is principally active in the United States, Guyana, and Malaysia, with significant offshore exploration activity in the Gulf of Mexico and Guyana. Its two main business sectors are exploration and production (E&P) and midstream.
For the first quarter of 2025, which ended March 31, Hess Corporation (NYSE:HES) reported net income of $430 million, or $1.39 per share, a considerable decrease from $972 million, or $3.16 per share, in Q1 2024. On an adjusted basis, the company earned $559 million in net income, or $1.81 per share. The reduction in earnings was mostly caused by lower realized oil prices, which averaged $71.22 per barrel in Q1 2025, compared to $80.06 in Q1 2024. Despite this, Hess’ net output remained stable at 476,000 barrels of oil equivalent per day (boepd) in Q1 2025 and Q1 2024.
Hess Corporation’s (NYSE:HES) Bakken assets experienced higher production of 195,000 boepd in Q1 2025, up from 190,000 boepd in the previous year’s quarter. Offshore production in the Gulf of Mexico and Guyana also demonstrated resiliency, with the Stabroek Block delivering 183,000 bopd in Q1 2025, a modest decrease from 190,000 bopd in Q1 2024. The company expects production to range between 480,000 and 490,000 boepd in Q2 2025.
The Midstream segment’s net income increased to $70 million in Q1 2025 from $67 million the previous year. Hess’ Yellowtail project in Guyana is set to begin operations in Q3 2025, with a production capacity of 250,000 barrels of oil per day (bopd). Given these encouraging developments, including increased production capacity and continuing projects such as Yellowtail, Hess is poised for significant future growth, ranking among the top stocks with excellent upside potential. Glen Russell’s stake in Hess Corporation’s (NYSE:HES) was worth $77 million, which accounted for 2.88% of his portfolio at the end of Q4 2024
9. Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holders: 66
Upside Potential: 31.23%
Hewlett Packard Enterprise Company (NYSE:HPE) offers solutions for server infrastructure, hybrid cloud, and intelligent edge products. HPE supports large companies in the Americas, Europe, the Middle East, Africa, Asia Pacific, and Japan through five business segments: server, hybrid cloud, intelligent edge, financial services, and corporate investments. HPE ProLiant servers, Aruba networking, and GreenLake cloud services are among the company’s key solutions.
Hewlett Packard Enterprise Company’s (NYSE:HPE) revenue increased by 17% year-over-year to $7.9 billion in the quarter ended January 31, 2025. Non-GAAP EPS was $0.49, which fell within the predicted range of $0.47 to $0.52. The Server segment experienced excellent growth, with $4.3 billion in revenue, up 30% year-over-year. Despite good performance, server margins were under pressure owing to tough market competition, increased AI inventory, and tariff implications, which are expected to reduce fiscal 2025 earnings by $0.07 per share.
Looking ahead, Hewlett Packard Enterprise Company (NYSE:HPE) anticipates 7%-11% revenue growth in fiscal 2025, with non-GAAP EPS ranging from $1.70 to $1.90. The company expects to generate $1 billion in free cash flow and a non-GAAP operating margin of 9%. The AI systems division has experienced significant growth, with $1.6 billion in new orders, bringing the total backlog to $8.3 billion. Enterprise AI orders alone increased 40% year-over-year, indicating a robust growth trajectory.
To drive future performance, Hewlett Packard Enterprise Company (NYSE:HPE) has initiated a cost-cutting program targeted at lowering its staff by 5%, with an estimated $350 million in savings by fiscal 2027. Furthermore, the company intends to complete its acquisition of Juniper Networks by the end of fiscal 2025, with synergies expected to total at least $450 million.
8. Occidental Petroleum Corporation (NYSE:OXY)
Number of Hedge Fund Holders: 68
Upside Potential: 33.10%
Occidental Petroleum Corporation (NYSE:OXY) is a prominent player in the energy sector, with operations in upstream oil and gas production, basic chemicals manufacturing, and midstream logistics. Its U.S. operations, particularly in the Permian Basin, account for a considerable portion of its total output, while foreign assets diversify its hydrocarbon portfolio. The company also distributes and transports natural gas liquids, carbon dioxide, and electricity, positioning itself as an integrated player in the evolving energy sector.
In terms of financial performance, Occidental Petroleum Corporation (NYSE:OXY) generated $4.9 billion in free cash flow for the fiscal year ending December 31, 2024, including $1.4 billion in the fourth quarter alone. Occidental Petroleum Corporation (NYSE:OXY) paid out $800 million in dividends and met its $4.5 billion debt reduction goal seven months early. OxyChem, the chemical division, generated $1.1 billion in pre-tax income in 2024. Notably, capital expenditures were $6.8 billion, at the low end of guidance. The board’s 9% dividend hike demonstrated confidence in the company’s cash-producing capabilities.
Furthermore, strategic growth through the Crown Rock acquisition included high-margin Midland Basin assets with an estimated output of more than 170,000 BOE/day by 2025. Occidental Petroleum Corporation (NYSE:OXY) has advanced major carbon capture initiatives, including the Stratos facility and the Battleground project. In 2025, output is projected to rise to 1.42 million BOE/day, driven by more than 15% growth in the Permian. OxyChem is expected to contribute $1 billion in profits. These actions are consistent with Occidental’s plans to improve long-term margins and support its energy transition strategies.
While Q1 production is expected to be weaker due to seasonality and pipeline constraints, output is forecasted to rebound significantly in the second half of 2025. Glenn Russell Dubin’s stock portfolio holds $42.9 million worth of Occidental Petroleum Corporation (NYSE:OXY) shares, or 1.6% of his portfolio, positioning OXY as a key long-term energy investment with substantial upside, driven by improving oil demand and production economics.
7. American Airlines Group Inc. (NASDAQ:AAL)
Number of Hedge Fund Holders: 59
Upside Potential: 40.75%
Through its extensive global network of partner gateways and major U.S. hubs, American Airlines Group Inc. (NASDAQ:AAL) provides air transportation services for both passengers and cargo. With operations in North America, Europe, Asia, and Latin America, the company has a fleet of 977 aircraft. While overcoming obstacles in the domestic market, it remains committed to modernizing its fleet and increasing its customer experience offerings. American Airlines Group Inc. (NASDAQ:AAL) made up 2.28% of Russell’s whole portfolio at the end of Q4 2024.
American Airlines Group Inc. (NASDAQ:AAL) reported $12.6 billion in revenue for the first quarter of 2025, a 0.2% decrease from the previous year. Falling short of consensus estimates, the firm reported a GAAP net loss of $473 million and an adjusted loss of $386 million, with an EPS of -$0.59. While unit expenses excluding fuel grew 7.8% year over year, revenue per available seat mile (RASM) increased 0.7%. The airline generated $1.7 billion in free cash flow and lowered overall debt by $1.2 billion, and ended the quarter with $10.8 billion in liquidity, despite disruptions from wildfires and an aircraft incident.
Due to weak domestic demand and economic uncertainties, American Airlines Group Inc. (NASDAQ:AAL) withdrew its full-year guidance. Still, it expects Q2 2025 earnings per diluted share between $0.50 and $1.00, with a projected capacity increase of 2–4% year-over-year. International long-haul RASM increased significantly, with Pacific up 4.9% and Atlantic up 10.5%. In addition to launching client initiatives like free Wi-Fi for Advantage members beginning in 2026, the company is still improving its premium offering.
To close the gap to pre-pandemic levels, the airline is focusing on recovering business travel revenue via indirect channels. With a strong recovery trajectory, ongoing operational improvements, and robust international demand, American Airlines Group Inc. (NASDAQ:AAL) stands out as a top pick for investors in 2025.
6. CompoSecure, Inc. (NASDAQ:CMPO)
Number of Hedge Fund Holders: 46
Upside Potential: 43.40%
CompoSecure, Inc. (NASDAQ:CMPO) manufactures premium metal and composite payment cards, as well as secure digital asset storage solutions, for the US and worldwide markets. Through its Payment Card and Arculus segments, the company offers distinctive metal card designs and cold storage authentication solutions for digital assets like Bitcoin and Ethereum. CompoSecure, Inc. (NASDAQ:CMPO) serves leading financial institutions and security providers, with growth driven by strong demand for premium card customization and its Arculus suite. The company is one of Glenn Russell Dubin’s top holdings, as the fund held shares worth $6.39 million, accounting for 0.23% of his portfolio.
CompoSecure, Inc. (NASDAQ:CMPO)’s net sales increased 8% to $420.6 million in the fiscal year ended December 31, 2024, led by 7% domestic and 11% international sales growth. Adjusted EBITDA rose 4% to $151.4 million, and Q4 adjusted net income grew 8% year-over-year to $24.8 million. Free cash flow increased 62% to $84.9 million for the year, while net debt was lowered by 60% to $120 million. Q4 2024 marked the first positive net contribution from the Arculus business, which continues to gain traction in the secure digital wallet market.
Furthermore, CompoSecure, Inc. (NASDAQ:CMPO) introduced its internal improvement framework, the CompoSecure Operating System (COS), to boost manufacturing efficiency, with advantages predicted to increase through 2025 and 2026. In February 2025, the company completed the spin-off of Resolute Holdings, which aimed to unlock shareholder wealth. Customer momentum remained strong with high-profile card launches by Citi, Barclays, JetBlue, and HSBC, helping drive global adoption of premium metal cards.
CompoSecure expects mid-single-digit growth in net sales and adjusted EBITDA in 2025, supported by Arculus’ growing profitability and ongoing operational enhancements. With momentum in all divisions and a strong focus on long-term shareholder value, CompoSecure, Inc. (NASDAQ:CMPO) is one of Glenn Russell Dubin’s stock portfolio choices with significant upside potential.
5. ON Semiconductor Corporation (NASDAQ:ON)
Number of Hedge Fund Holders: 52
Upside Potential: 45.29%
ON Semiconductor Corporation (NASDAQ:ON) is a major provider of intelligent power and sensing technology, serving the automotive, industrial, and cloud power markets worldwide. The company operates in three major segments: Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group, offering semiconductor solutions for electric vehicles, renewable energy, and data centers.
ON Semiconductor Corporation (NASDAQ:ON) announced $1.45 billion in revenue for Q1 2025, ending April 4, exceeding the midpoint of its guidance. Non-GAAP earnings per share were $0.55, which was higher than expected, while free cash flow rose 72% year-over-year to $455 million, representing 31% of revenue. However, the gross margin fell sequentially by 530 basis points to 40% as a result of automotive sector deterioration and price changes. The company repurchased $300 million in shares, representing 66% of its quarterly free cash flow.
Looking ahead, ON Semiconductor Corporation (NASDAQ:ON) anticipates Q2 revenue of $1.4 billion to $1.5 billion and EPS of $0.48-$0.58. The company expects strong growth in its industrial and “other” areas, with plans to return 100% of free cash flow to shareholders and maintain a 25-30% free cash flow margin this year. These proactive efforts, together with a strong position in AI infrastructure and silicon carbide EV solutions, enable the company’s long-term growth story.
ON Semiconductor Corporation (NASDAQ:ON) is part of Glenn Russell Dubin’s stock portfolio, with a $53.39 million stake accounting for 1.99% of his total holdings, indicating a strong belief in the company’s future growth prospects.
4. Capri Holdings Limited (NYSE:CPRI)
Number of Hedge Fund Holders: 42
Upside Potential: 80.19%
Through its Versace, Jimmy Choo, and Michael Kors divisions, Capri Holdings Limited (NYSE:CPRI) is a multinational fashion conglomerate that creates, sells, and distributes high-end clothing, accessories, and footwear. Its brands, spanning ready-to-wear, handbags, footwear, and fragrances, are positioned in the premium and luxury segments and sold through retail stores, wholesale partners, and online channels. With a substantial presence in North America, Europe, and Asia, the company is a global operator.
Capri Holdings Limited (NYSE:CPRI) reported $1.3 billion in revenue for the quarter ended December 28, 2024 (Q3 FY2025), which was 12% lower than the previous year. Earnings per share were $0.45, which fell short of forecasts. Due to $23 million in foreign exchange losses, net income was $54 million, and the operating margin fell to 6% from 12.1% the year before. Net debt was $1.12 billion, and inventory was down 13% to $892 million.
To bring Michael Kors’ global network down to 650 outlets, Capri Holdings Limited (NYSE:CPRI) shuttered more than 100 stores this year and aims to close another 70. The company also implemented significant cost-cutting measures, targeting an additional $150 million in savings for FY2026 after reducing expenses by over $100 million this year. For FY2026, projections include revenue of approximately $4.1 billion and operating income of $150 million, supported by a $200 million reduction in operating expenses and a slight gross margin improvement.
With revenue growth anticipated to restart in fiscal 2027 and operating margins predicted to improve steadily, these measures laid the groundwork for a gradual recovery. Given its robust portfolio of brands and well-defined strategic plan, Capri Holdings Limited (NYSE:CPRI) is a standout candidate for retail stock with significant upside potential. Long-term value generation may be supported by ongoing enhancements to the price structure, retail optimization, and product mix. Capri Holdings Limited (NYSE:CPRI) made up 0.19% of Glenn Russell Dubin’s stock portfolio at the end of Q4 2024.
3. IAC Inc. (NASDAQ:IAC)
Number of Hedge Fund Holders: 53
Upside Potential: 72.61%
IAC Inc. (NASDAQ:IAC) is a diversified media and internet company with interests spanning digital content, marketplaces, search services, and caregiving platforms. Its portfolio consists of Care.com, a platform for caregiving services; Angi, a digital marketplace for home services; and Dotdash Meredith, which owns well-known lifestyle and financial brands. The company also runs The Daily Beast, owns a portion of the peer-to-peer car-sharing website Turo, and keeps assets in digital search companies like Ask.com. As part of its larger restructuring and value-unlocking strategy, IAC recently finished the spin-off of Angi.
IAC Inc. (NASDAQ:IAC) reported strong earnings for the quarter ended March 31, 2025, and reaffirmed its full-year adjusted EBITDA guidance. Excluding a one-time lease gain, Dotdash Meredith reported a 46% increase in EBITDA and a 7% year-over-year growth in digital revenue. The termination of a long-term lease at its New York headquarters resulted in a $36 million benefit for the company. The Daily Beast became profitable and had a 72% increase in income. Programmatic ad pricing was modest, but licensing and performance marketing were strong, which helped the consolidated Q1 performance. IAC expanded its share repurchase authorization by 10 million shares and bought back 4.5 million during the quarter.
IAC Inc. (NASDAQ:IAC) anticipates Dotdash Meredith’s digital sales to increase by 7–9% in Q2 2025. With enterprise demand expected to grow through 2026, Care.com is undergoing structural changes to better align its services with evolving customer needs. With the help of innovative ideas and prudent capital allocation, management anticipates long-term growth in all of its operations. IAC Inc. (NASDAQ:IAC) is worth about $15.17 million in Glenn Russell Dubin’s stock portfolio, making up 0.56% of his whole portfolio.
2. Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)
Number of Hedge Fund Holders: 42
Upside Potential: 80.19%
The commercial-stage biotech company Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) is developing a pipeline of RNA-targeted medications. Its marketed treatments include familial chylomicronemia syndrome, hereditary ATTR amyloidosis, and spinal muscular atrophy. With the recent launch of TRYNGOLZA and the development of a solid royalty base from partnered drugs like SPINRAZA and WAINUA, Ionis has made the shift to independent commercialization. Additionally, the company has extensive clinical-stage assets that address rare neurological illnesses, severe hypertriglyceridemia, and hereditary angioedema. Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) represented about 0.58% of Glenn Russell Dubin’s portfolio.
Revenue for the quarter ending March 31, 2025, was $132 million, a 10% year-over-year increase, according to Ionis Pharmaceuticals, Inc.’s (NASDAQ:IONS) earnings report. With an EPS of -$0.93 compared to the average of -$1.11, earnings exceeded expectations. WAINUA’s $9 million and SPINRAZA’s $48 million royalties helped non-GAAP operating losses drop by over 25% to less than $375 million. The company forecasted a strong year-end cash position of $1.9 billion and increased its full-year revenue outlook to $725–750 million.
During its first full quarter, Ionis’s first independently marketed treatment, TRYNGOLZA, generated over $6 million in revenue. With Olezarsen Phase III results anticipated in Q3 for a possible sNDA by year-end and Donidalorsen awaiting FDA approval in August 2025, pipeline progress remained robust. Ionis is also moving several neurology-focused therapies, such as ION582 and Zilganersen, closer to Phase III development.
Strategic partnerships with Biogen, GSK, and Sobi, as well as licensing income from deals like the $280 million sapablursen contract, support Ionis Pharmaceuticals, Inc.’s (NASDAQ:IONS) projection of over $3 billion in peak yearly sales from its wholly owned medications. One of Glenn Russell Dubin’s best stock selections with significant upside potential is Ionis Pharmaceuticals, Inc. (NASDAQ:IONS).
1. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)
Number of Hedge Fund Holders: 50
Upside Potential: 226.16%
A commercial-stage biotech company, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) focuses on developing genetic medications for uncommon neuromuscular disorders. Its gene and RNA-targeted treatments for Duchenne muscular dystrophy (DMD) include EXONDYS 51, VYONDYS 53, AMONDYS 45, and ELEVIDYS. In addition, the company is developing siRNA-based therapeutics for other uncommon genetic illnesses and treatments for different types of limb-girdle muscular dystrophies (LGMD).
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reported $612 million in total net product revenue for the quarter that ended March 31, 2025, a 70% increase from the previous year. ELEVIDYS drove the majority of growth, generating $375 million in revenue — a 180% increase year-over-year. The PMO franchise increased by 5%, adding $237 million. However, because of difficulties with the supply of ELEVIDYS, the company reduced its full-year revenue projection to $2.3–$2.6 billion. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) would have generated a GAAP operating profit of $283 million and a non-GAAP operating profit of $334 million, excluding the $584 million R&D expense related to the Arrowhead collaboration.
Despite strong demand, short-term momentum was hampered by operational delays and a patient safety incident. While no widespread safety issues were identified among the 800+ treated patients, a single case of sudden liver failure led to the rescheduling of infusions. The Q1 shortfall also stemmed from extended treatment timelines and mismatched site capacities. Approximately 60% of ELEVIDYS’ revenue came from top-tier sites, which were at full capacity, prompting the company to shift patients to alternative locations.
Key programs like SRP-9003 and SRP-9004 for LGMD have reached enrollment milestones and are on track for regulatory submissions later in 2025, reflecting continued pipeline progress. Readouts of Sarepta’s siRNA treatments for FSHD1 and DM1 are anticipated later this year.
One of the largest holdings of billionaire Glenn Russell Dubin’s portfolio is Sarepta Therapeutics, Inc. (NASDAQ:SRPT), which accounted for 2.37% of his portfolio at the end of Q4 2024. The company continues to be one of the best biotech choices with enormous upside potential as it overcomes immediate obstacles and expands access to ELEVIDYS.
Overall, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) ranks first on our list of Billionaire Glenn Russell Dubin’s Stock Picks with Huge Upside Potential. While we acknowledge the potential of SRPT, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SRPT but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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