Billionaire Prem Watsa’s Top 15 Long-Term Stock Picks

Page 9 of 15

7. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 64

Fairfax Financial Holdings’ Stake: $16.8 million  

General Motors Company (NYSE:GM) is a multinational automotive manufacturing company headquartered in the United States. The following attributes underline the company’s potential as an investment. Firstly, as per the reports of the third quarter of 2024, reported revenue was $48.8 billion, a 10% increase compared to the same period in 2023 and net income was $3.1 billion, reflecting strong operational performance. Additionally, the company raised its full-year EBIT-adjusted guidance to a range of $14 billion to $15 billion, which indicates confidence in sustained profitability. Secondly, the company has signed an agreement with Graniterock in which GM Energy will identify fleet electrification opportunities for Graniterock’s operations through EVs, electric vehicle service equipment (EVSE), battery energy storage systems, vehicle-to-grid services, and other potential applications. GM Energy will utilize a diverse set of hardware and software energy management solutions to conduct a feasibility study, providing Graniterock with opportunities to develop and scale the electrification of their fleet moving forward. Moreover, the company is collaborating with Pacific Gas and Electric Company to enable residential customers to use their compatible EVs, along with a bidirectional charger, as backup power for essential home needs during short-term power outages.

Page 9 of 15