10 Best Stocks to Buy According to Billionaire Hedge Fund Managers

9. PG&E Corporation (NYSE:PCG)

Billionaire: Dan Loeb

Billionaire’s Stake Value: $712,334,000

Number of Hedge Fund Holders: 77

PG&E Corporation (NYSE:PCG) is placed 9th on our list of the best stocks to buy. PCG reported Q2 profits on July 31 that marginally fell short of Wall Street estimates, as higher operating and maintenance costs weighed on results.

The company’s total operating and maintenance costs went up 3.7% to $2.86 billion in the second quarter, with wildfire-related claims and expenses from its wildfire fund also higher than last year. PG&E has been held responsible for causing several wildfires, including some of California’s deadliest, and has been investing in improving the stability of its power grid.

In a wildfire mitigation plan filed in March for 2026 to 2028, PCG mentioned that it plans to add nearly 700 miles of power lines underground and complete 500 miles of additional wildfire safety upgrades between 2025 and 2026.

CEO Patti Poppe commented on a post-earnings call that PG&E Corporation (NYSE:PCG) has set up over 10,000 sensors in high-risk areas to detect problems early and control outages.

The utility company added that it is preparing to meet 10 gigawatts (GW) of new electricity demand from data centers over the next decade. Right now, 17 projects worth about 1.5 GW are in the final engineering phase and are expected to go online between 2026 and 2030.

In the second quarter, the company onboarded about 3,300 new customers to its grid. Still, its operating revenue slipped a bit to $5.90 billion, down from $5.99 billion last year. Adjusted earnings came in at 31 cents per share for the quarter ending June 30, which was just shy of Wall Street’s forecast by 1 cent.

PG&E Corporation (NYSE:PCG) provides electricity and natural gas to customers in northern and central California. It generates power from sources like nuclear, hydro, fossil fuels, fuel cells, and solar.