VST

VST

VST

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 7, 2025	Meridian Hedged Equity Fund	4.9%	-	CVX, HUN, KVUE, MGM, MSFT, VST	capital preservation, downside protection, Hedging, Options, volatility	The commentary focuses on managing downside risk through selective hedging while maintaining equity upside. Covered calls and disciplined stock selection are used to smooth returns across market cycles. Capital preservation is framed as central to long-term compounding.	MGM MSFT VST	View
2025 Q2	Aug 27, 2025	Brown Advisors Mid-Cap Growth strategy	15.8%	7.2%	ENTG, GWRE, MRVL, NET, PINS, RBLX, TECH, VOYG, VST	AI Infrastructure, fundamentals, Mid Cap Growth, secular growth, valuation	The letter focuses on mid-cap growth companies benefiting from secular trends such as AI infrastructure, data centers, and industrial services. Volatility created by tariffs and macro uncertainty has generated selective entry points. Growth is framed as attractive when supported by fundamentals and reasonable valuations.		View
2025 Q2	Jul 27, 2025	Carillon Eagle Mid Cap Growth Fund	-	-	AXON, BKR, NET, OKTA, PLTR, RCL, RH, RYAN, SRPT, VST	broadening, earnings, Mid Caps, Resilience, secular growth	The letter highlights a rebound in mid-cap growth stocks driven by earnings resilience and easing macro fears. Management sees broadening opportunities beyond mega-cap leadership. Mid-cap secular growers are favored.	RH RYAN OKTA SRPT BKR VST NET RCL AXON PLTR	View
2025 Q2	Jul 22, 2025	Miller Howard Investments Utilities Plus	-	-	AEP, CEG, CMS, EXC, PCG, PEG, PPL, SRE, VST	Data centers, dividends, electricity demand, infrastructure, Utilities	The letter highlights regulated utilities and independent power producers as beneficiaries of surging electricity demand from AI, data centers, and electrification trends. Management stresses that utilities offer lower volatility, growing dividends, and improving growth visibility as capital spending accelerates. The theme balances defensive characteristics with structural demand growth.		View
2024 Q1	May 15, 2024	Third Point Partners	3.9%	14.0%	AAP, GOOG, LSEG LN, TSMC, VST	-			View
2024 Q1	Apr 15, 2024	Meridian Hedged Equity Fund	6.2%	0.0%	AMZN, LBRDA, NVDA, RIVN, SBH, VST	-			View
2024 Q1	Apr 15, 2024	The Sound Shore Fund	6.7%	21.1%	CEG, TEVA, VST	-			View
2025 Q1	Mar 31, 2025	Miller Howard Investments Utilities Plus	-	-	AEP, CNP, EIX, ETR, EXC, PCG, SO, VST, XEL	-			View
2025 Q1	Mar 31, 2025	The Sound Shore Fund	-1.9%	-1.9%	CHKP, PYPL, TEVA IT, VST	-			View
2024 Q4	Feb 11, 2025	Invesco Small Cap Value Fund	4.3%	24.5%	HUN, ICLR, LITE, MSM, MXL, ONTO, TECK, VST	-			View
2024 Q4	Feb 10, 2025	Meridian Hedged Equity Fund	0.1%	13.1%	AMT, AMZN, COTY, DHR, V, VST	-			View
2024 Q4	Dec 31, 2024	The Sound Shore Fund	1.3%	22.6%	BA, BKR, FLEX, ORCL, TEVA, VST	-			View
2024 Q4	Dec 31, 2024	Miller Howard Investments Utilities Plus	-	-	PCG, VST	-			View
2025 Q3	Nov 8, 2025	ClearBridge Investments All Cap Growth	-	-	AVGO, NTRA, ORCL, UNH, VST	AI, Cloud, infrastructure, semiconductors, software	The letter highlights extreme dispersion between AI winners and AI losers, with cloud providers, semiconductor leaders, and AI infrastructure companies massively outperforming. Application software and IT services names face pressure from perceived AI disintermediation, prompting portfolio shifts toward beneficiaries of AI infrastructure spending. The managers maintain a balanced but upgraded AI exposure while acknowledging persistent macro and geopolitical risks.		View
2024 Q3	Nov 8, 2024	Tall Oak Capital Advisors	-	-	VST	-			View
2024 Q3	Nov 6, 2024	Artemis US Select Fund (Class I Accumulation Shares GBP)	-2.7%	-	BLDR, MCK, NVDA, VST, WDC	-			View
2025 Q3	Oct 19, 2025	Miller Howard Investments Utilities Plus	-	-	AEP, ATO, ETR, FTS CN, MDU, NRG, PEG, PPL, SRE, VST, XEL	Data centers, dividends, Electrification, Transmission, Utilities	Utilities benefited from electrification trends and surging data center power demand driven by AI infrastructure growth. Regulatory clarity and transmission investment are major growth catalysts, with utilities poised to expand capital expenditure and regulated returns. The strategy maintains a focus on dividend growth and infrastructure resilience.		View
2024 Q4	Jan 28, 2025	Artemis US Select Fund (Class I Accumulation Shares GBP)	10.8%	29.5%	AAPL, AMZN, AVTR, BLDR, FI, FWONK, GS, VST	-			View
2025 Q4	Jan 24, 2026	Miller Howard Investments Utilities Plus	-2.4%	14.2%	AEP, BKH, CEG, DTE, MDU, NEE, PEG, PPL, SO, SRE, VST, XEL	Capital Expenditure, Data centers, dividends, earnings growth, Grid Infrastructure, nuclear, Power Markets, Utilities	US electricity demand continues to grow driven by data center proliferation. Utilities are deploying accelerating capital into grid infrastructure to bridge the gap between existing capacity and rising future demand. Companies like NextEra Energy and Black Hills are benefiting from their ability to serve data centers with diversified offerings. Utilities are deploying ever-accelerating amounts of capital into grid infrastructure to meet rising electricity demand. S&P 500 Utility Index capex forecasts for 2026 and 2027 increased by 16% and 15% respectively. Higher levels of capital deployed within the regulated utility framework are lifting utility growth profiles. This quarter, 10 of the 32 holdings announced dividend increases with an average increase of 15.3%. An enhanced earnings profile should strengthen utilities' ability to provide high and rising income to investors. The portfolio focuses on generating total returns with a high and rising stream of income. NextEra Energy signed a 25-year power purchase agreement with Google to restart the Duane Arnold nuclear plant. Constellation Energy benefited from a FERC ruling on co-location that was viewed as positive for Independent Power Producer development and from PJM Interconnection capacity auction pricing. Tightening power markets for independent power producers lifted utility growth profiles. Constellation Energy benefited from FERC ruling on co-location viewed as positive for IPP development. The company also benefited from PJM Interconnection capacity auction where pricing came in at the top of the collar range.		View
2025 Q4	Jan 21, 2026	Meridian Hedged Equity Fund	0.1%	0.0%	ABNB, AMZN, CB, DHI, DHR, DKNG, GEO, LNG, LW, LYV, MGM, MTCH, VST, YOU	energy, gaming, Hedged Equity, Homebuilders, Options, Travel, value	The fund holds positions in gaming companies including MGM Resorts International and DraftKings. MGM benefited from record results in Macau properties and BetMGM achieving profitability. DraftKings faced near-term pressures from earnings shortfalls and competitive pressures but maintains long-term earnings potential. The fund maintains exposure to energy companies including Vistra Corp and Cheniere Energy. Vistra is positioned to benefit from surging electricity demand driven by data centers and electrification trends, operating attractive nuclear and natural gas generation assets in tight power markets. The fund has exposure to travel-related companies including MGM Resorts and Clear Secure. Clear Secure provides biometric identity solutions for travelers and benefited from robust travel demand and operational efficiency during the quarter. The fund holds D.R. Horton as a top position, representing exposure to the homebuilding sector. The company is positioned in the residential construction market.	YOU DHR MGM VST DKNG LW	View
2025 Q4	Jan 19, 2026	Carillon Eagle Mid Cap Growth Fund	0.0%	8.7%	ALNY, ARES, AXON, COR, CRS, CVNA, HLT, LPLA, MDB, NTRA, RBA, RBLX, RCL, ROST, TER, VEEV, VRT, VST	aerospace, AI, Biotech, consumer, growth, healthcare, mid cap, technology	AI investment cycle accelerated notably in 2025 and expected to continue driving markets early in 2026. Strong demand for AI-related semiconductor test equipment. Bottlenecks from power supply availability remain a key gating factor for new computing capacity. Production challenges at two global aircraft manufacturers led to sustained increase in high-margin aftermarket parts and services. With manufacturers resolving production issues, original equipment exposed stocks may outperform as aircraft production rates ramp up. Biotech stocks getting boost from downtick in interest rates. Continued decline in rates could set stage for prolonged period of positive returns. Recent M&A activity has picked up though remains below normal levels. Healthcare industry remains largest US sector at $5 trillion, growing 5% annually driven by aging population and chronic conditions. Sector has underperformed recently but working off COVID excesses with improving M&A activity and favorable valuations. Consumers broadly prioritizing travel and experiences over goods. Companies offering unique experiences such as cruise vacations remain attractive despite some near-term guidance concerns and supply dynamics.	VEEV VST RCL AXON RBLX MDB ROST CRS TER NTRA	View
2025 Q4	Jan 18, 2026	Distillate Capital Fundamental Stability & Value	0.0%	0.0%	BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST	free cash flow, fundamentals, international, Quality, rebalancing, small caps, valuation, value	The firm emphasizes systematic value investing through their proprietary free cash flow valuation methodology. They focus on stocks trading at attractive valuations while avoiding richly valued names, with their U.S. FSV strategy trading at more than double the free cash flow yield of the S&P 500. The strategy systematically rotates out of names that have increased in value and reinvests into less expensive stocks. The firm filters for high quality companies with stable cash flows and low debt levels. Their investment process excludes negative free cash flow companies and avoids those with high amounts of leverage while seeking fundamental stability. This quality focus has historically been smart but was a drag on returns in 2025 as unprofitable stocks outperformed significantly. The firm sees significant opportunity in small and mid-sized U.S. stocks, though selectivity is critical given the large number of unprofitable and heavily-indebted companies. Their small/mid strategy filters out negative free cash flow companies and high leverage names. The S&P 600 excludes many troubled names and has considerably outperformed the Russell 2000 over time.		View
2025 Q4	Jan 18, 2026	Distillate Capital Small/Mid Cap Quality & Value	0.0%	0.0%	BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST	free cash flow, fundamentals, Quality, rebalancing, small cap, valuation, value	The letter extensively discusses valuation concerns across markets, highlighting that U.S. equities are historically expensive and trading at levels typically associated with subdued future returns. The firm's strategies focus on finding attractively valued stocks where quality and value overlap, with their portfolios trading at significant discounts to benchmarks. Quality is a core focus of the firm's investment process, emphasizing cash flow stability and avoiding highly leveraged or unprofitable companies. The letter discusses how their strategies systematically filter out negative free cash flow companies and those with high debt levels while seeking fundamental stability. The letter identifies significant opportunities in small and mid-sized U.S. stocks, noting that avoiding high debt levels and money-losing businesses has historically been smart but was a drag on returns in 2025. The firm sees this as creating attractive entry points for quality small cap investing.		View
2025 Q4	Jan 18, 2026	Distillate Capital Large Cap Value	0.0%	8.6%	000660.KS, 005930.KS, BMY, CAH, CSCO, ELV, FFIV, FI, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TEL, TMUS, UBER, VST	FCF, fundamentals, international, Quality, rebalancing, small caps, valuation, value	U.S. equities are historically expensive by any measure and at levels typically associated with subdued future returns. The S&P 500 is trading near record multiples with just 20 stocks accounting for over 50% of the market at a 120% premium to the rest. Historical analysis shows that rich starting valuations correlate with lower longer-term returns. Despite rich overall market valuations, many high quality stocks remain attractively valued. The firm's large cap strategy trades at a free cash flow yield more than double the S&P 500 and 60% above Russell 1000 Value. Value stocks significantly outperformed after the 2000 tech bubble when similar valuation disparities existed. Significant opportunities exist in smaller stocks where avoiding high debt levels and money-losing businesses has historically been smart but was an enormous drag on returns in 2025. Negative free cash flow stocks comprised 35% of Russell 2000 and rose 67% on average, demonstrating unusual market conditions.		View
2025 Q4	Jan 12, 2026	ClearBridge Investment Growth Strategy	-	-	ALNY, AVGO, DLB, DOCS, ELF, FCX, HLT, HOOD, MSGE, MSGS, ODFL, ONON, SHOP, TEL, TJX, TKO, UNH, VRTX, VST, XPO	AI, balance, growth, innovation, semiconductors, technology, volatility	The letter outlines a balanced growth approach combining participation in AI-driven momentum with downside protection through diversified stock selection. Emphasis is placed on companies with durable fundamentals, innovation-led growth, and disciplined capital allocation. Growth investing is positioned as increasingly selective amid heightened volatility and dispersion.	ELF SHOP	View
2024 Q3	Sep 30, 2024	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	AXON, CELH, CRWD, DXCM, ENTG, FICO, GEV, SNPS, VST, WAB	-			View
2024 Q3	Sep 30, 2024	Meridian Hedged Equity Fund	6.2%	0.0%	AMZN, MGM, PGNY, SBH, VST, YOU	-			View
2023 Q3	Sep 30, 2024	Miller Howard Investments Utilities Plus	0.0%	0.0%	NEE, SO, VST	-			View
2023 Q3	Sep 30, 2023	The Sound Shore Fund	6.7%	21.1%	CEG, GEHC, VST	-			View
2024 Q2	Jul 29, 2024	Legacy Ridge Capital	0.0%	19.7%	EQT, ETRN, NRG, SMLP, VST	-			View
2024 Q2	Jun 30, 2024	Meridian Hedged Equity Fund	6.2%	0.0%	AMZN, DIS, LSXMA, RIVN, USB, VST	-			View
2024 Q2	Jun 30, 2024	Fidelity Growth Strategies Fund	6.3%	17.9%	ALGN, ALNY, MDB, MOH, VST	-			View
2024 Q2	Jun 30, 2024	Fidelity Dividend Growth Fund	4.4%	25.2%	AAPL, NVDA, VST	-			View
2024 Q2	Jun 30, 2024	Miller Howard Investments Utilities Plus	0.0%	0.0%	AWK, VST	-			View
2023 Q2	Jun 30, 2024	Miller Howard Investments Utilities Plus	0.0%	0.0%	D, MDU, NGG, UGI, VST	-			View
2023 Q4	Jan 31, 2024	Legacy Ridge Capital	0.0%	19.7%	ENGH, ETRN, VST	-			View
2022 Q4	Jan 31, 2023	Legacy Ridge Capital	0.0%	19.7%	DCP, EPD, NRG, SMLP, VST	-			View
2023 Q4	Jan 26, 2024	The Sound Shore Fund	6.7%	21.1%	COF, PVH, VST	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Mar 16, 2026	Substack	Attitude Small Caps	Vistra Corp.	Utilities	Electric Utilities	Bull	New York Stock Exchange	capital allocation, Electric Utilities, free cash flow yield, Share Buyback, Value trap	View Pitch
Jan 30, 2026	Seeking Alpha	Seeking Alpha	Vistra Corp	Utilities	Electric Utilities	Bull	New York Stock Exchange	Acquisitions, debt management, EBITDA growth, electricity generation, Hedging, nuclear energy, Ppas, shareholder returns, utilities, Vistra Corp.	View Pitch
Jan 24, 2026	Fund Letters	Clayton Freeman	Vistra Corp.	Utilities	Independent Power Producers	Bull	New York Stock Exchange	buybacks, data centers, Electricity, Margins, Power	View Pitch
Jan 20, 2026	Fund Letters	Eric Mintz	Vistra Corp.	Utilities	Independent Power Producers	Neutral	New York Stock Exchange	AI, Power, Ppas, Sentiment, utilities	View Pitch
Jan 8, 2026	Fund Letters	Clayton Freeman	Vistra Corp.	Utilities	Independent Power Producers & Energy Traders	Bull	New York Stock Exchange	Capacity, data centers, Power, Pricing, utilities	View Pitch
Dec 6, 2025	Fund Letters	Brian Frank	Vistra Corp.	Utilities	Utilities - Independent Power Producers	Bull	NYSE	buybacks, Capacity, datacenters, Power, Storage	View Pitch
Dec 5, 2025	Fund Letters	Brian Angerame	Vistra Corp.	Utilities	Independent Power Producers & Energy Traders	Bull	NYSE	AI, Capacity, Electricity, Power, Pricing	View Pitch
Dec 4, 2025	Fund Letters	Eric Mintz	Vistra Corp.	Utilities	Independent Power Producers & Energy Traders	Bull	NYSE	Contracts, data centers, Generation, Power, utilities	View Pitch
Aug 8, 2025	Seeking Alpha	Long Term Tips	Vistra Corp.	Utilities	Utilities - Independent Power Producers	Bull	NYSE	—	View Pitch
Aug 8, 2025	Seeking Alpha	Litong Tian	Vistra Corp.	Utilities	Utilities - Independent Power Producers	Bull	NYSE	—	View Pitch

BSD Shareholders of VST

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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