VST

Vistra Corp.

Ticker: VSTUtilitiesElectric, Gas & WaterS&P 500
HQ IRVING, TXCIK 1692819FY end 12-31Book / share $16.10Shares 341M
Revenue (FY)
$17.74B+2.98%
TTM $19.21B
Op. margin
10.75%-12.95%
TTM 18.55%
Net income
$944.00M-66.43%
TTM $2.22B
Operating cash
$4.07B-10.80%
TTM $5.12B
Free cash flow
$1.32B-46.96%
TTM $2.25B
Return on equity
22.61%-25.13%
TTM 40.48%
Debt / equity
3.78+0.78%
TTM 3.57
Shares outstanding
345.7M-1.96%
TTM 340.5M

The business

Vistra Corp. (NYSE: Texas) operates as an integrated retail electricity and power generation company serving approximately five million residential, commercial, and industrial customers across eighteen states and the District of Columbia. The company's website is located at www.vistraenergy.com.

Vistra combines a customer-centric retail energy platform with one of the largest competitive power generation fleets in the United States, totaling approximately 44,000 megawatts of generation capacity. This integrated business model distinguishes Vistra from standalone competitors by enabling efficient procurement of electricity to serve retail customers at competitive costs while managing commodity price volatility.

The company operates through five reportable business segments: Retail, Texas, East, West, and Asset Closure. The Retail segment engages in electricity and natural gas sales through multiple brands including TXU Energy, Ambit Energy, Dynegy Energy Services, Homefield Energy, Energy Harbor, and U.S. Gas & Electric. The generation segments operate across major competitive wholesale power markets including ERCOT, PJM, ISO-NE, NYISO, MISO, and CAISO.

Vistra's generation portfolio reflects fuel and technology diversity, comprising natural gas facilities (62 percent of capacity), coal-fueled generation (20 percent), nuclear units (15 percent), and renewable solar and battery storage (3 percent). The company owns and operates six nuclear generation units across four facilities and maintains significant natural gas and coal-fueled generation capacity distributed across its operating regions.

As of December 31, 2025, Vistra employed approximately 6,390 full-time employees, including approximately 1,860 employees under collective bargaining agreements. The company's largest retail market concentration is in Texas, where it serves approximately 2.6 million customers. Vistra's wholesale operations include a commodity risk management group responsible for dispatching the generation fleet and managing portfolio optimization strategies.

The company emerged from reorganization under Chapter 11 of the U.S. Bankruptcy Code on October 3, 2016, following its predecessor's emergence from Energy Future Holdings Corp. Vistra's strategic focus emphasizes maintaining a resilient balance sheet, disciplined capital allocation, and executing a strategic energy transition toward low-to-no carbon resources while supporting grid reliability and affordability.

Sector
Utilities
Industry
Electric, Gas & Water
HQ
IRVING, TX
FY end
12-31
CIK
1692819
SIC
4911
Financial performance · annual
20172025
$-3.31B$2.83B$8.97B$15.12B$21.26B201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Vistra Corp. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

931
funds hold it
1 of 35
superinvestors hold it
$20.29B
fund-held value
38.1%
of shares held by funds
3
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.07%$1.70B
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.08%$1.30B
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.52%$1.16B
State Street(R) Utilities Select Sector SPDR(R) ETF
XLU · SELECT SECTOR SPDR TRUST
3.54%$818.12M
iShares Core S&P 500 ETF
IVV · iShares Trust
0.08%$691.54M

Superinvestors in Vistra Corp.

David TepperINCREASED +9.5%
Appaloosa
4.7%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 3 issues of Vistra Corp.'s debt, $1.45B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 7.77%, maturing 20262029.

IssueCouponMaturesFundsFund-held
Vistra Corp7.000%2026-12-15136$609.23M
Vistra Corp8.000%2026-10-15131$521.04M
Vistra Corp8.875%2029-01-1562$317.49M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of Vistra Corp.'s financials

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