Hedge Fund Star Nehal Chopra’s 211% Return & Top Stock Picks

Ratan Capital Management’s three-year track record stands as a testament to Chopra’s investment acumen. While the S&P 500 returned a respectable 82% over the period, largely driven by the ‘Magnificent 7’ tech stocks, Chopra’s fund delivered a staggering 211% return. This 129-percentage-point outperformance becomes even more impressive when compared to her more prominent peers. Stanley Druckenmiller returned 189%, Bill Ackman achieved 66%, and Warren Buffett’s Berkshire Hathaway returned significantly less than Ratan Capital’s impressive results. With approximately $198 million in assets under management, Chopra has demonstrated that size isn’t the determining factor in generating exceptional returns.

Chopra’s strategy centers on event-driven opportunities, particularly corporate spin-offs and restructurings, where she can capitalize on market inefficiencies and transitional periods. This approach requires deep fundamental research and patience, qualities that have clearly paid off in her performance metrics. The second quarter saw significant portfolio activity, with two new positions established and one existing holding increased by a remarkable 1,000%, indicating strong conviction in her investment thesis.

RTX, formerly Raytheon Technologies, represents Ratan Capital’s bet on defense spending in an increasingly tense global environment. As the second-largest defense contractor behind Lockheed Martin, RTX generated $80.7 billion in revenue in 2024, a 17% increase from the prior year, driven by military equipment demand amid conflicts in Ukraine and the Middle East. The company’s second-quarter performance showed organic revenue growth of 9% to $21.6 billion, with adjusted earnings of $1.56 per share beating estimates despite ongoing supply chain challenges.

The company’s $212 billion backlog and 1.86 book-to-bill ratio signal strong future revenue visibility. RTX’s Raytheon division continues to secure important U.S. defense contracts for hypersonic weapons, while its Pratt & Whitney engines support the ongoing recovery in commercial aviation. While Wall Street’s consensus price target of $165 per share suggests the stock is fairly valued at its current $163 level, 16 of the 21 analysts covering RTX rate it a buy or better. Chopra’s investment reflects confidence in RTX’s stability and growth potential, particularly with rising global defense budgets and potential trade agreements for American military equipment under the new administration.

Chopra’s new position in Sunrun, the leading U.S. residential solar installer, represents a strategic bet on the clean energy transition. The company’s second-quarter performance showed impressive metrics, with subscriber value reaching $1.6 billion, up 40% year-over-year, and net value creation surging 316% to $376 million. Revenue projections of $2.25 billion for 2025, growing to $2.44 billion the following year, indicate a healthy 10% growth trajectory.

Sunrun’s battery network, the largest in California, has proven its value by supporting grids during 2025 heatwaves, strengthening the company’s utility partnerships. Trading at less than two times sales, the stock appears undervalued relative to its growth prospects. While high interest rates pose challenges for solar adoption, the Inflation Reduction Act’s $370 billion in green incentives provides substantial support, though many provisions begin expiring by year-end. J.P. Morgan recently raised its price target to $23, citing tax credits and declining battery costs as key drivers. Chopra’s position signals belief in Sunrun’s scalable business model and its central role in the evolving energy landscape.

Chopra’s most dramatic move in the second quarter was a 1,000% increase in her Boeing position, representing a strong vote of confidence in the aerospace giant’s recovery. After a challenging period that included 737 Max and 787 Dreamliner issues, labor strikes, and a $11.9 billion loss in 2024, Boeing is showing signs of stabilization. The second quarter saw deliveries increase 25% to 186 planes, with cash burn reduced to $1.9 billion and revenue stabilizing at $17.3 billion.

Critical regulatory developments have bolstered Boeing’s prospects, with the Federal Aviation Administration recently returning airworthiness certification authority to the company after taking over responsibility in 2019 following fatal crashes. The FAA has also eased restrictions on 737 and 787 deliveries, enabling significant orders like Uzbekistan’s $8 billion Dreamliner deal. Boeing’s $309 billion commercial backlog provides visibility for nearly a decade of production, while its defense unit adds stability with a $52 billion backlog including tankers and hypersonic systems. Wall Street’s $253 price target suggests 15% upside from current levels, with 21 of 26 analysts rating the stock a buy. Despite significant debt and quality concerns, Chopra’s massive stake increase indicates she sees Boeing capitalizing on rising air travel demand under new CEO Kelly Ortberg’s leadership.