In this article, we will take a look at Billionaire Michael Platt’s 10 Stock Picks with Huge Upside Potential.
Michael Platt is the co-founder and CEO of BlueCrest Capital Management, which was founded in 2000 following his almost decade-long employment at JPMorgan. BlueCrest reached its height in 2013, when it became one of the world’s largest hedge funds, managing more than $35 billion in assets. In 2015, in response to equity challenges and disappointing results that caused investor withdrawals, Platt converted the company into a family office. This strategy adjustment proved to be a game-changing decision for BlueCrest Capital Management. Since becoming a family office, the fund has generated impressive net returns, including 50% in 2016 and 54% in 2017. It has continued to succeed, delivering returns of at least 25% annually, including outstanding net returns of 95% in 2020 and 153% in 2022.
Platt’s aversion to the spotlight is almost as famous as is his financial competence. His last significant public appearance was more than a decade ago, to promote an art display featuring a life-size wax gorilla nailed to a wooden cross. Since then, he has shunned the media. Despite his preference for privacy, Platt has been involved in a number of regulatory disputes. BlueCrest has received hefty penalties from both the US Securities and Exchange Commission and the UK Financial Conduct Authority for conflicts of interest and other regulatory violations. However, these setbacks have had no impact on his financial or reputational status, owing to the fact that BlueCrest does not have any external clients.
According to Forbes, Michael Platt is Britain’s richest hedge fund manager, valued at over $18.8 billion as of December 2024, and is among just a handful who have managed to profit in 2025 despite the global stock market sell-off caused by President Trump’s policies. According to Bloomberg, BlueCrest is already up 20% for the year, considering fees and costs. Platt allegedly employed aggressive leverage to take advantage of the increased volatility caused by President Trump’s trade war, with BlueCrest currently on course to finish a decade of consecutive returns.
Michael Platt of BlueCrest Capital Mgmt.
Our Methodology
For this article, we examined BlueCrest Capital Management’s Q4 2024 13F filings to list down billionaire Cliff Asness’ stock picks with the highest upside potential. We ranked the companies in ascending order of their upside potential. These equities are also popular among 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. Rithm Capital Corp. (NYSE:RITM)
BlueCrest Capital Management’s Q4 Stake: $23.1 million
Upside Potential as of April 29: 24.96%
Number of Hedge Fund Holders: 33
Rithm Capital Corp. (NYSE:RITM) is an internally managed REIT that oversees real estate and financial services. The company invests in an extensive variety of real estate assets, including residential mortgage loans, consumer loans, residential transition loans, and commercial real estate.
Piper Sandler upgraded Rithm Capital Corp. (NYSE:RITM)’s stock rating from Neutral to Overweight on April 28, raising the price target to $14 from $12.50. The change follows Rithm Capital’s stellar first-quarter 2025 performance, which Piper Sandler analysts praised on account of its strong service fee income and 17% core return on equity (ROE). Rithm Capital Corp. (NYSE:RITM) announced first-quarter 2025 earnings of $0.52 per share, above consensus expectations of $0.47. However, the company’s revenue fell short of expectations, totaling $768.38 million instead of $1.24 billion. Despite the revenue shortcoming, Rithm Capital Corp. (NYSE:RITM)’s earnings available for distribution climbed 8% year-over-year.
9. MFA Financial, Inc. (NYSE:MFA)
BlueCrest Capital Management’s Q4 Stake: $1.7 million
Upside Potential as of April 29: 26.14%
Number of Hedge Fund Holders: 13
MFA Financial, Inc. (NYSE:MFA) is an American real estate investment trust that primarily deals in residential and commercial mortgage-backed securities. Since its IPO in 1998, the company has paid out dividends regularly, totaling over $4.8 billion.
MFA Financial, Inc. (NYSE:MFA) reported $50.8 million in revenue in the fourth quarter of 2024, a 9.3% increase over the same period the previous year. MFA Financial, Inc. (NYSE:MFA) also concluded the year with $339 million in cash and cash equivalents, a bump from $318 million in 2023.
JMP Securities analysts maintained a Market Outperform rating for MFA Financial, Inc. (NYSE:MFA), with a price target of $12.50, citing the company’s potential in the residential mortgage credit REIT sector. Meanwhile, Keefe, Bruyette & Woods reduced MFA Financial, Inc. (NYSE:MFA)’s price target to $12.50 from $13.50 while keeping an Outperform rating, indicating a cautious yet optimistic stance on the company.
8. Snowflake Inc. (NYSE:SNOW)
BlueCrest Capital Management’s Q4 Stake: $1.42 million
Upside Potential as of April 29: 28.09%
Number of Hedge Fund Holders: 85
Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that operates a platform built on Amazon Web Services, Microsoft Azure, and Google Cloud. This platform allows for data analysis and simultaneous access to extensive data sets with low latency. It also provides Snowflake Cortex with a set of AI capabilities that employ large language models to analyze unstructured data.
Snowflake Inc. (NYSE:SNOW) reported better-than-expected fourth-quarter fiscal 2025 results, with earnings per share of $0.30 and revenues up 27% year-over-year to $986.8 million. The company predicts revenues of $955 million to $960 million in the first quarter of 2026, reflecting a 21% to 22% jump.
On April 16, BTIG analyst Gray Powell reiterated his Buy rating on Snowflake Inc. (NYSE:SNOW) and set a steady price target of $220 on the company’s shares. Powell’s confidence stems from a group pre-quiet period call with Snowflake’s Investor Relations team, during which they addressed the company’s strategic position and future. Powell also highlighted Snowflake’s innovative products, such as Snowpark, Iceberg Tables, and Dynamic Tables, which are projected to drive increased demand in fiscal year 2026.
7. Reddit, Inc. (NYSE:RDDT)
BlueCrest Capital Management’s Q4 Stake: $4.9 million
Upside Potential as of April 29: 29.77%
Number of Hedge Fund Holders: 87
Reddit Inc. (NYSE:RDDT) runs a digital community where users may join and establish communities of their choice, as well as engage with others who share similar interests. There are over 100,000 active communities on the platform, with more than 100 million daily active users.
Reddit, Inc. (NYSE:RDDT) is also leveraging AI to enhance its services and make content more accessible to its users. The company recently introduced a beta version of Reddit Answers, an AI-powered search engine that provides edited summaries of community topics. However, this is still in its early stages.
Reddit, Inc. (NYSE:RDDT) reported solid performance in the fiscal fourth quarter of 2024, with increased revenue and user base. The company’s revenue surged 71% year-over-year, reaching $427.7 million. The revenue gain was boosted by advertisement revenue, which shot up by 60% to $394.5 million.
Munro Global Growth Small & Mid Cap Fund stated the following regarding Reddit, Inc. (NYSE:RDDT) in its Q4 2024 investor letter:
“Key contributors to performance over the quarter were Reddit and AppLovin (see stock story on page 5). Reddit, Inc. (NYSE:RDDT) delivered a strong set of results, demonstrating impressive revenue growth and expanding operating margins. As the world grapples with misinformation and AI-generated content, we continue to view Reddit’s position as a unique platform hosting the largest volume of human conversations globally becoming increasingly valuable.”
6. Coinbase Global, Inc. (NASDAQ:COIN)
BlueCrest Capital Management’s Q4 Stake: $2.06 million
Upside Potential as of April 29: 35.60%
Number of Hedge Fund Holders: 69
Coinbase Global, Inc. (NASDAQ:COIN) is a financial infrastructure and technology provider serving the global crypto industry. Its offerings include a consumer financial platform, a marketplace for corporations and institutions that trade crypto, and technology solutions that enable developers to create cryptocurrency-based apps and securely accept cryptocurrency payments.
Coinbase Global, Inc. (NASDAQ:COIN) showed impressive financial success in 2024, with total revenue reaching $6.6 billion and adjusted EBITDA achieving $3.3 billion, marking the company’s second consecutive year of positive EBITDA. The company’s subscription and services revenue jumped by 64% year-over-year to $2.3 billion, boosted by USDC stablecoin, staking, and Coinbase One services.
On April 23, Benchmark launched coverage of Coinbase Global (NASDAQ:COIN) Inc with a Buy rating and a $252 price target, citing the company’s dominant position in the US market. It also noted the potential benefits of a “soon-to-improve environment for crypto” fueled by regulatory assurance and institutional demand. The firm forecasts a 21% revenue CAGR through 2026, with non-trading subscription and services revenue expanding by around 36% annually.
5. The GEO Group, Inc. (NYSE:GEO)
BlueCrest Capital Management’s Q4 Stake: $34.4 million
Upside Potential as of April 29: 41.73%
Number of Hedge Fund Holders: 39
The GEO Group, Inc. (NYSE:GEO) engages in the financing, construction, and provision of services for processing centers, prisons, and community re-entry facilities. Its operations are organized into four segments: US Secure, Electronic Monitoring and Supervision, Re-Entry, and International Services.
Noble Capital boosted its price target for The GEO Group, Inc. (NYSE:GEO) to $35 from $32 on March 25, maintaining an Outperform rating on the shares following the company’s investor day. According to the firm, TheGEO Group, Inc. (NYSE:GEO) disclosed considerable growth prospects under its new efforts to manage undocumented immigrants on investor day.
The GEO Group, Inc. (NYSE:GEO) recently announced a new contract with U.S. Immigration and Customs Enforcement (ICE) to establish a federal immigration processing center in Baldwin, Michigan. Under an anticipated long-term, multi-year deal, GEO’s North Lake Facility will provide a variety of support services, including security, maintenance, food service, recreational amenities, medical treatment, and legal representation.
4. ON Semiconductor Corporation (NASDAQ:ON)
BlueCrest Capital Management’s Q4 Stake: $1.1 million
Upside Potential as of April 29: 42.95%
Number of Hedge Fund Holders: 52
ON Semiconductor Corporation (NASDAQ:ON) is an American semiconductor manufacturing company that produces various components, primarily for the electric vehicle and industrial end markets. Some of the company’s products include advanced MOSFETs, image sensors, and Silicon Carbide technology (EliteSiC).
On April 17, Stifel analysts revised their outlook for ON Semiconductor Corporation (NASDAQ:ON), lowering the 12-month price target from $52 to $42, while maintaining a Hold rating on the company. The change reflects worries about the overall macroeconomic climate, as well as specific issues in the automotive sector, which is an essential market for the company. In addition to the automotive sector’s impact, ON Semiconductor’s gross margins are under pressure. While the company maintained a decent gross margin, analysts observed that its fabrication facilities are currently underused, which is negatively impacting margins in the short term.
In addition, ON Semiconductor Corporation (NASDAQ:ON) dropped its plan to acquire Allegro MicroSystems, instead focusing on increasing shareholder value through its existing share repurchase program. This move comes after ON Semiconductor Corporation (NASDAQ:ON) assessed that there was no viable road ahead with Allegro’s Board of Directors. The company intends to focus on its core growth objectives, notably in the automotive, industrial, and AI data center sectors.
3. Albemarle Corporation (NYSE:ALB)
BlueCrest Capital Management’s Q4 Stake: $5.82 million
Upside Potential as of April 29: 45.44%
Number of Hedge Fund Holders: 36
Albemarle Corporation (NYSE:ALB) focuses on engineered specialty chemicals. Its Energy Storage division focuses on recycling, technical services, and lithium compounds. The company’s dominance in the lithium industry provides it a vital position across the EV supply chain, with EV clients accounting for more than 80% of its sales. Albemarle’s range is further broadened by its position as a pioneer in catalyst products and one of the top three bromine producers.
In the fourth quarter of 2024, Albemarle Corporation (NYSE:ALB) reported net sales of $1.2 billion and adjusted EBITDA of $251 million. However, the company encountered difficulty when lithium prices fell by 53%, reducing revenues in its Energy Storage segment. The company reported total revenue of $5.38 billion in 2024, a 44.08% drop from the prior year.
On March 7, Mizuho Securities revised its outlook for Albemarle Corporation (NYSE:ALB). The firm reduced its price target to $85 from $90, while maintaining a Neutral rating on the company. The change comes after a thorough analysis of a summit hosted by Benchmark Minerals, a renowned consultant in the lithium sector. The summit’s analysis found that government and strategic investor commitments to the lithium sector remain strong. However, the market anticipates a tipping point in spot lithium pricing. Benchmark Minerals anticipates a modest increase in pricing by 2026, with a more substantial rise projected between 2027 and 2028.
2. Criteo S.A. (NASDAQ:CRTO)
BlueCrest Capital Management’s Q4 Stake: $89.4 million
Upside Potential as of April 29: 47.16%
Number of Hedge Fund Holders: 21
Criteo S.A. (NASDAQ:CRTO) is a French corporation that specializes in digital performance marketing. Its solution includes data assets, the Criteo Engine, advertising and publisher platforms, and access to inventory. The company’s Criteo Engine distributes adverts across a variety of marketing formats and channels.
On April 28, Benchmark analyst Mark Zgutowicz reduced the price target for Criteo S.A. (NASDAQ:CRTO) shares from $60 to $55, while maintaining a Buy rating. The revision followed projections that first-quarter profitability will surpass original estimates, owing to less severe foreign exchange (FX) headwinds and an elevated Retail Media (RM) take rate in January, which benefited from robust fee increases at the close of the retail fiscal year.
The company reported a 6% year-over-year rise in its adjusted fiscal Q4 2024 revenues, reaching $334 million. Its adjusted earnings also increased by 15% to $1.75 per diluted share, exceeding analyst expectations. Moreover, the retail media segment generated more than $250 million in revenue.
1. Chart Industries, Inc. (NYSE:GTLS)
BlueCrest Capital Management’s Q4 Stake: $2.65 million
Upside Potential as of April 29: 54.05%
Number of Hedge Fund Holders: 47
Chart Industries, Inc. (NYSE:GTLS), headquartered in Georgia, is a global manufacturer of cryogenic equipment and process solutions for the industrial gas, energy, and biomedical markets. The company is especially renowned for its LNG and hydrogen infrastructure.
On April 23, Raymond James revised Chart Industries, Inc. (NYSE:GTLS)’s financial outlook, cutting the price target from $215 to $200 yet maintaining a Strong Buy rating on the stock. Pavel Molchanov, the firm’s analyst, cited serious trade and tariff worries weighing on the stock, yet added that the demand environment remained generally positive, pointing to industries such as LNG, space exploration, and power/data centers.
Chart Industries, Inc. (NYSE:GTLS) reported a 29.4% rise in revenue during the fourth quarter of 2024 compared to the same period in 2023. The firm has also performed well in the Heat Transfer Systems market due to LNG developments. Furthermore, the company has a significant growth opportunity due to $24 billion in potential deals not yet in the backlog.
While we acknowledge the potential for GTLS as an investment, our conviction lies in the belief that some 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 GTLS but trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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