VST

LONG

VISTRA CORP

Funds

Score

5.25

vs SPY

-9.7%

Stock return (since Q-end)

+6.6%

SPY return (since Q-end)

+16.3%

Current price

$160.23

News Summary

Positive

Vistra delivered a strong Q1 2026 earnings beat with net income of $1,029M vs. prior-year loss of $268M, driven by a $723M unrealized hedging gain, stronger energy prices, and the Lotus acquisition contribution. The company reaffirmed robust 2026-2027 guidance ($6.8-7.6B Adjusted EBITDA, $10B+ total cash generation) and secured major long-term Meta PPAs for ~4,500 MW of organic development, while also progressing the $2.3B Cogentrix acquisition and achieving investment-grade credit ratings.

Red flags

•Moss Landing battery storage facilities (400 MW total) permanently closed following January 2025 fire, with ongoing policy and interconnection uncertainty in PJM and ERCOT
•Q1 net income heavily reliant on $723M unrealized hedging gain—underlying operational earnings less clear without detailed adjusted metrics
•Cogentrix acquisition ($2.3B) remains unfinished as of late 2026 with no guaranteed closing timeline; integration risks and macro energy market shifts could impact deal economics

Funds Buying (4)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Lone Pine Capital	Steve Mandel	6.2M	+976K	$930.2B	+19%	Existing
Appaloosa LP	David Tepper	2.0M	+1.1M	$304.0B	+114%	Existing
Point72	Steve Cohen	919K	+919K	$138.1B	—	NEW
Soros Fund Management	Soros Family Office	244K	+244K	$36.7B	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.