10 Best Stocks to Buy According to Billionaire David Einhorn

3. Brighthouse Financial, Inc. (NASDAQ:BHF)

Greenlight Capital’s Stake Value: $136.19 million

Number of Hedge Fund Holders: 25

Brighthouse Financial, Inc. (NASDAQ:BHF) offers annuity and life insurance products in the US. The company continued to make progress on its capital-focused strategic initiatives, which include completing reinsurance transaction with a third party to reinsure a legacy block of universal life and variable universal life products as well as fully transitioning to hedging all new business for the Shield Level Annuities Product Suite on a standalone basis.  In 2024, Brighthouse Financial, Inc. (NASDAQ:BHF) announced updates to its Shield product suite, designed to help the Shield suite remain competitive, adapt to changes happening in the broader industry, and reflect its ongoing focus on meeting clients’ evolving needs.

Furthermore, Brighthouse Financial, Inc. (NASDAQ:BHF)’s estimated combined RBC ratio as of the end of the year was ~400%, demonstrating a $100 million capital contribution from the holding company to Brighthouse Life Insurance Company. The company continues to have a healthy level of holding company liquid assets. Brighthouse Financial, Inc. (NASDAQ:BHF) possesses a high-quality, well-diversified investment portfolio, with total investments to the tune of ~$125 billion. Of this, ~$88 billion is in fixed maturity securities (97% investment grade). Since Q4 2021, the company has materially de-risked its portfolio as it has reduced below investment grade (BIG) credit by ~38%, while ‘B’-rated has been reduced by ~69%.