Billionaire Louis Bacon’s Top 10 Long-Term Stock Picks

5. Capital One Financial Corporation (NYSE:COF)

Number of Hedge Fund Holders: 67 

Moore Global Investments’ Stake: $27.2 million

Capital One Financial Corporation (NYSE:COF) is a bank holding company specializing in credit cards, auto loans, banking, and savings accounts. There are several key elements that position this company as an appealing choice for investors. Firstly, promising financial growth is depicted in the report for the third quarter of 2024. For instance, as illustrated in the report, net income was $1.8 billion, or $4.41 per diluted common share, compared with net income of $597 million, or $1.38 per diluted common share in the second quarter of 2024, and with net income of $1.8 billion, or $4.45 per diluted common share in the third quarter of 2023. Secondly, Capital One Financial Corporation and Discover Financial Services have entered into a definitive agreement under which Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion. Moreover, the company plans a community benefit scheme that commits more than $265 billion in lending, investment, and philanthropy over five years as part of its proposed acquisition of Discover Financial Services.