Billionaire Dan Loeb’s Top Stock Picks

4. Vistra Corp. (NYSE:VST)

Number of Hedge Fund Holders: 97  

Third Point’s Stake: $376.4 million

Vistra Corp. (NYSE:VST) operates as an integrated retail electricity and power generation company. The investment potential of this company is underscored by these key elements. Starting with, the report for the third quarter of 2024 showed great financial results as net income from ongoing operations was $1,855 million and ongoing operations adjusted EBITDA was $1,444 million. This reflects solid profitability and operational efficiency. Additionally, the Board authorized an additional $1 billion of share repurchases, which is expected to be utilized by year-end 2026. This signals a strategic effort to enhance shareholder returns over the next few years. Secondly, the company has entered into a definitive agreement with affiliates of Nuveen Asset Management and Avenue Capital Management to acquire their combined 15% equity interest in Vistra Vision. This will result in Vistra being the sole owner of its Vistra Vision subsidiary, which includes its zero-carbon nuclear, energy storage, and solar generation assets, as well as its retail business.