In this article, we will take a look at the 10 Best European Stocks to Buy According to Billionaires.
On March 12, European markets opened on a high note, surging after the European Union revealed its retaliatory tariffs on U.S. steel and aluminum imports. While U.S. indices have been struggling with continued uncertainty, European equities gained momentum, driven by geopolitical developments, fiscal stimulus, and shifting investor sentiment. With renewed commitments to defense spending, easing inflation, and a more attractive valuation landscape compared to U.S. stocks, European markets are increasingly capturing investor interest. The big question now is whether this momentum is here to stay or if Europe is simply enjoying a momentary surge.
A primary driver of Europe’s market rally has been increased defense spending, as reported by World Economic Forum (WEF). Following a Ukraine peace summit hosted by UK Prime Minister Keir Starmer, European leaders pledged to boost military investments, propelling the broad measure of the European equity market up 1% and the aerospace and defense index by 6.5%. Germany’s blue-chip index also climbed 0.9% amid reports of a potential defense fund. CNBC reported a recent upgrade by HSBC of European stocks to “Overweight” while the downgrading of U.S. equities to “Neutral” showcases a fundamental shift in economic narratives and a game-changing fiscal stimulus in the eurozone.
According to CNBC, Eurozone inflation eased to 2.4% in February, aligning with expectations ahead of the European Central Bank’s upcoming policy decision. The euro also rebounded, rising nearly 1% against the dollar after earlier declines. Meanwhile, discussions around a €500 billion infrastructure investment plan in Germany have fueled speculation about a broader fiscal expansion, further enhancing Europe’s market appeal.
U.S. markets have struggled with volatility as trade tensions and economic uncertainties persist. The Magnificent Seven tech stocks have lost momentum, and recent economic projections indicate a potential slowdown. President Donald Trump’s tariff policies continue to introduce unpredictability, prompting investors to seek alternatives. European stocks, offering lower valuations and higher dividend yields, have emerged as an attractive option against this backdrop. With the recent Purchasing Managers’ Index (PMI) showing the eurozone’s manufacturing contraction easing to its mildest level in two years, investor confidence in the region has strengthened.
However, risks remain. The recently brokered U.S.-Ukraine ceasefire agreement could shift geopolitical dynamics. Additionally, European equities have faced headwinds, with a recent sell-off in tech stocks and concerns about Germany’s fiscal policies. While Europe’s market rally is notable, its long-term trajectory will depend on economic resilience, policy decisions, and global trade developments.
With billionaire investors increasingly reallocating capital toward European stocks, the region is experiencing a renewed investment focus. The recent UBS Billionaire Ambitions Report finds that 43% of billionaires plan to expand their investments in real estate, while 42% are increasing exposure to developed market equities. Simultaneously, they are allocating more capital to perceived safe-haven assets. Whether this marks a fundamental shift or a temporary rebalancing remains to be seen, but for now, Europe is firmly in the spotlight. By using key themes from billionaire portfolios, investment strategies can be streamlined for long-term resilience. With this key point in mind, we look at the best European stocks that billionaires invest in.
An investor viewing a laptop with multiple country flags on the screen.
Our Methodology
We analyzed Insider Monkey’s exclusive database of billionaire stock holdings to compile our list of the best European stocks to invest in according to billionaires. We searched European companies that trade on the NASDAQ and NYSE stock exchanges and picked the 10 best stocks to buy based on the highest number of billionaire investors, updated as of Q4 2024. For the stocks with the same number of billionaire holdings, we have used the total value of billionaire holdings as a secondary metric to rank the stocks. These billionaires are founders or managers of some of the world’s leading hedge funds and companies.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. AngloGold Ashanti plc (NYSE:AU)
Number of Billionaires: 13
AngloGold Ashanti plc (NYSE:AU) is a global gold mining company registered in the UK with a diverse portfolio of operations, projects, and exploration activities across nine countries on four continents. Headquartered in Denver, USA, the company primarily produces gold and silver. It is among the best European stocks billionaires are investing in.
AngloGold Ashanti plc (NYSE:AU) is expanding its asset base through strategic partnerships. In February 2025, the company agreed to acquire a majority stake in Matsa Resources’ Lake Carey gold project in Western Australia. The $70.4 million deal, contingent on certain conditions, adds nearly 949,000 ounces of gold resources and 104,000 ounces of reserves to AngloGold’s portfolio, reinforcing its presence in a high-potential gold region. In November 2024, AngloGold Ashanti plc (NYSE:AU) completed the acquisition of Centamin plc for $2.5 billion, adding the Sukari gold mine in Egypt to its assets.
The company reported a strong financial performance in 2024, with free cash flow surging to $942 million from just $109 million in 2023. Adjusted EBITDA nearly doubled year-over-year, reaching $2.747 billion, driven by cost-control measures and robust gold production in Q4 2024. This financial strength has enabled AngloGold Ashanti plc (NYSE:AU) to implement a revised dividend policy, targeting a 50% payout of free cash flow while maintaining a prudent debt-to-EBITDA ratio.
Analysts maintain a “Moderate Buy” rating on the stock, with an average price target of $34.00, suggesting further upside potential. As gold prices rise, AngloGold Ashanti plc (NYSE:AU) is well-positioned for continued growth in 2025.
9. ASML Holding N.V. (NASDAQ:ASML)
Number of Billionaires: 13
ASML Holding N.V. (NASDAQ:ASML) is a leading Dutch multinational specializing in photolithography systems, which are crucial for semiconductor production. Known for its advanced extreme ultraviolet (EUV) lithography technology, ASML enables the development of smaller and more efficient microchips.
In 2024, ASML Holding N.V. (NASDAQ:ASML) reported €9.1 billion in free cash flow, exceeding its statutory profit of €7.57 billion, highlighting strong cash generation. However, earnings fell flat owing to impacted demand in China, which accounts for 36% of ASML’s sales. The demand slump was caused by U.S. semiconductor sanctions on China. Despite these headwinds, Bank of America (BofA) maintains a Buy rating on ASML, citing robust EUV demand and a solid outlook into 2026.
ASML Holding N.V. (NASDAQ:ASML) recently announced a five-year strategic partnership with imec, backed by funding from the Chips Joint Undertaking and government support from Flanders and the Netherlands. This collaboration focuses on semiconductor advancements and sustainability initiatives. ASML is one of the best European stocks billionaires are investing in.
While the broader semiconductor sector has faced volatility, with the Semiconductor Select Industry Index down over 15% in 2025, ASML Holding N.V. (NASDAQ:ASML) remains a dominant player. Analysts remain optimistic, with 81% of 42 ratings holding a Buy consensus. The company’s Revenue (ttm) stands at $28.26 billion, and it has demonstrated strong long-term growth, with a five-year EPS growth rate of 25.62%.
8. Accenture plc (NYSE:ACN)
Number of Billionaires: 14
Accenture plc (NYSE:ACN) is a global professional services company headquartered in Dublin, Ireland, specializing in management consulting, technology services, and outsourcing. The company operates across various sectors, including communications, media, technology, financial services, health and public service, products, and resources, serving clients in more than 120 countries.
Accenture plc (NYSE:ACN) has been at the forefront of integrating artificial intelligence (AI) into its service offerings. In the fourth quarter of the fiscal year 2024, the company secured $1 billion in new AI bookings, totaling $3 billion for the fiscal year, and generated nearly $900 million in AI revenue, a threefold increase from the previous year.
The company continues to expand its AI and infrastructure capabilities with strategic investments. In March 2025, Accenture plc (NYSE:ACN) invested in OPAQUE, a confidential AI platform that enables organizations to process AI workloads securely with encrypted data, emphasizing privacy and compliance. Additionally, the company announced the acquisition of Soben, a global construction consultancy, to strengthen its expertise in managing large-scale capital projects, particularly in the data center sector.
Analysts remain optimistic about the stock’s performance, expecting second-quarter results to surpass market forecasts, which could lead to upward revisions in revenue and EPS projections for the fiscal year 2025. Accenture plc (NYSE:ACN) is currently trading at a discount to its five-year average, presenting a potential buying opportunity. With a strong bookings pipeline and stable financial outlook, the company maintains a 64% Buy consensus among 28 analyst ratings. Over the past five years, ACN has delivered a 102.94% return with $66.36 billion in revenue and $11.36 billion in EBITDA achieved in the previous fiscal year.
7. Trane Technologies plc (NYSE:TT)
Number of Billionaires: 14
Trane Technologies plc (NYSE:TT) is a global climate innovator specializing in efficient and sustainable climate solutions for buildings, homes, and transportation. Through its strategic brands, Trane and Thermo King, the company offers a comprehensive portfolio of environmentally responsible products and services that cater to a wide range of clients across various end markets.
In December 2024, Trane Technologies plc (NYSE:TT) announced a new $5 billion share repurchase program, reflecting its robust financial health and commitment to returning value to shareholders. TT is one of the best European stocks billionaires are investing in.
Innovation remains a key focus for Trane Technologies. The recent acquisition of BrainBox AI, a leader in autonomous HVAC controls and generative AI technology, illustrates the company’s commitment to cutting-edge solutions. By integrating BrainBox AI’s technology with its existing capabilities, Trane aims to enhance building management and reduce emissions, aligning with the growing demand for sustainable solutions.
As of March 14, 2025, Trane Technologies plc (NYSE:TT) is trading at $347.32, reflecting a 0.02485% increase from the previous close. The stock reached an all-time high of $407.32 in November 2024, marking an 83.06% increase over the past year.
Barclays recently reiterated a Buy rating on Trane Technologies plc (NYSE:TT). Over the past month, TT shares declined 6.13%, however, outperformed the broader Construction sector’s 8.64% loss. The company reported a trailing twelve-month (TTM) revenue of $19.84 billion, marking a 12.22% year-over-year increase. Trane has delivered a 138.27% return over three years, reflecting its robust growth. Analysts remain optimistic, with 26 ratings and a 23% Buy consensus. Investors await the upcoming earnings disclosure for further insight into its performance and future outlook.
6. Medtronic plc (NYSE:MDT)
Number of Billionaires: 14
Medtronic plc (NYSE:MDT) is a global leader in medical technology, offering a wide range of products and therapies that address various health conditions. Its portfolio includes cardiac devices like pacemakers and defibrillators, insulin pumps for diabetes management, surgical instruments, and neurostimulation devices. Operating across cardiovascular, medical-surgical, neuroscience, and diabetes segments, Medtronic serves healthcare systems and patients worldwide.
In the second quarter of fiscal year 2025, ending October 25, 2024, Medtronic plc (NYSE:MDT) reported revenue of $8.403 billion, a 5.3% increase from the previous year. This growth was driven by strong performances in its cardiovascular and neuroscience portfolios, which saw revenue increases of 6.1% and 7.1%, respectively.
Despite these positive results, Medtronic plc (NYSE:MDT) faced challenges in its medical-surgical unit, which experienced a 0.4% revenue decline due to shifts in U.S. distributor buying patterns. Additionally, foreign currency fluctuations negatively impacted earnings, with the company reporting a $104 million currency impact.
Analysts remain optimistic about Medtronic’s future, citing its strong product pipeline, including innovations in surgical robotics and diabetes devices. As of March 14, 2025, Medtronic plc (NYSE:MDT) is trading at $93.16, reflecting a 0.83% increase from the previous close. The stock rose 7.7% in 2025.
5. AstraZeneca PLC (NASDAQ:AZN)
Number of Billionaires: 14
AstraZeneca PLC (NASDAQ:AZN) is a British-Swedish multinational pharmaceutical and biotechnology company headquartered in Cambridge, UK. The company specializes in developing and manufacturing prescription medicines, primarily for oncology, cardiovascular, gastrointestinal, infection, neuroscience, respiratory, and inflammation areas. AstraZeneca’s diverse portfolio includes leading products such as Tagrisso, Imfinzi, and Lynparza in oncology and Symbicort in respiratory care. AZN is among the best European stocks according to billionaires.
In 2024, AstraZeneca PLC (NASDAQ:AZN) reported a 21% increase in revenue, reaching $54.1 billion, driven by strong performance in its oncology segment. Despite challenges in China, its second-largest market, the company offset a 3% sales decline there with growth in other regions. CEO Pascal Soriot projects a “catalyst-rich period” ahead, aiming for $80 billion in revenue by 2030, with a high single-digit revenue increase expected for 2025.
In 2025, AstraZeneca (NASDAQ:AZN) continues to show strong momentum, with its 50-day moving average and 21-day exponential moving average trending upward. The stock has gained nearly 17% since the start of the year, significantly outperforming the broader market. On March 13, the stock closed at $75.57, up 1.79%, and has risen 2.08% over the past month, outpacing the Medical sector’s decline of 1.05%. Analysts project earnings per share (EPS) of $1.10, marking a 6.8% increase from the previous year. Analysts remain bullish, with 88% of 33 analysts giving a Buy rating and a strong revenue base of $54.1 billion reinforcing its long-term growth potential.
4. Shell plc (NYSE:SHEL)
Number of Billionaires: 14
Shell plc (NYSE:SHEL) is a global energy and petrochemical company headquartered in London, operating across more than 70 countries. Its diverse portfolio includes the exploration and production of oil and natural gas, the manufacturing and marketing of chemicals and petrochemicals, and a growing presence in renewable energy solutions.
Shell plc (NYSE:SHEL) reported adjusted earnings of $3.66 billion for the latest quarter, falling short of the anticipated $4.10 billion, primarily due to lower oil prices and refining margins. Despite this, the company announced a $3.5 billion share buyback program, reflecting robust cash-flow generation. Additionally, Shell increased its dividend by 4% to $0.358 per share. Financially, the company’s full-year 2024 results showed a decline in sales to $284.3 billion from $316.6 billion the previous year, with net income decreasing to $16.1 billion from $19.4 billion.
Shell plc (NYSE:SHEL) is reportedly considering the sale of its chemical assets in both Europe and the United States, including the Deer Park facility near Houston. This potential divestment is part of a broader review of Shell’s chemical operations following significant workforce reductions and recent financial challenges in its chemicals business.
Shell plc (NYSE:SHEL) has faced some headwinds, with its share price declining by 2.7% over the past month. However, the company’s long-term fundamentals remain strong. Over the past five years, Shell has delivered an impressive 175.5% return, reflecting its ability to generate consistent revenue growth. Analysts remain overwhelmingly bullish on the stock, with 90% of the 31 analysts covering Shell assigning it a “Buy” rating.
3. Chubb Limited (NYSE:CB)
Number of Billionaires: 14
A global leader in insurance, Chubb Limited (NYSE:CB) operates in 54 countries and territories. The company offers a comprehensive range of products, including commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance, serving a diverse clientele from individuals to multinational corporations. CB is one of the best European stocks to buy according to billionaires.
In the fourth quarter of 2024, Chubb Limited (NYSE:CB) reported strong financial results, with core operating income rising to $2.45 billion, or $6.02 per share, up from $2.28 billion, or $5.54 per share, in the same period the previous year. This growth was driven by a 6.7% increase in Global P&C net premiums, excluding Agriculture, and a 13.7% surge in net investment income, reaching $1.69 billion for the quarter.
Despite challenges such as the California wildfires, which are expected to result in a pre-tax net cost of $1.5 billion in the first quarter of 2025, Chubb’s diversified portfolio and strong underwriting practices have enabled it to maintain profitability.
Chubb Limited (NYSE:CB) recently launched its North America Small & Lower Midmarket division, consolidating its Lower Middle Market and Digital Small Business units to strengthen its presence in the middle-market insurance segment. On March 5, HSBC upgraded CB to a Buy rating from Hold, setting a price target of $323. As of March 14, 2025, Chubb’s stock trades at $290.60, reflecting a 0.71% gain from the previous close and demonstrating steady growth over the past year. The company exceeded analyst expectations with 2024 earnings of $22.51 per share, surpassing the $22.00 consensus. Chubb reported a total revenue of $55.88 billion for 2024, marking an 11.78% year-over-year increase. With strong financial performance and a positive outlook, 54% of 26 analysts covering the stock maintain a Buy rating.
2. Aon plc (NYSE:AON)
Number of Billionaires: 15
Aon plc (NYSE:AON) is a leading global professional services firm headquartered in London, United Kingdom, specializing in risk management, insurance brokerage, and human capital consulting. With operations in over 120 countries, Aon provides a wide array of solutions, including Commercial Risk Solutions, Health Solutions, Reinsurance Solutions, and Wealth Solutions, serving diverse clients across various industries.
In the fourth quarter ending December 31, 2024, Aon plc (NYSE:AON) reported a substantial increase in profit, driven by the robust performance of its Commercial Risk Solutions unit. The adjusted net income attributable to shareholders rose to $965 million, or $4.42 per share, surpassing the previous year’s $785 million, or $3.89 per share, and exceeding analyst expectations of $4.25 per share. Revenue from the Commercial Risk Solutions unit increased by 15% to $2.19 billion, while the Health Solutions business also saw growth, reporting $1.07 billion in revenue.
Aon plc (NYSE:AON)’s share price gained 10% last quarter, outperforming major indexes, which fell 5%. Revenue grew 17.51% YoY, driven by strong Q4 results. The company has recently announced new leadership appointments, including Rob McDonough as CEO of Construction, Infrastructure, and Surety, North America, Rob McDonough as CEO of Construction, Infrastructure, and Surety, North America, and Brian Hodges as Head of Surety, which is set to boost investor confidence in an uncertain market. Further reinforcing investor optimism, Aon plc (NYSE:AON) has reaffirmed its 2025 earnings guidance.
The stock has returned 37.07% over three years. Analyst sentiment remains positive, with 24 analysts covering Aon and 33% issuing a Buy rating. Strong financials, strategic leadership moves, and market resilience make Aon a solid investment in uncertain times.
1. Spotify Technology S.A. (NYSE:SPOT)
Number of Billionaires: 17
Sweden-based, Spotify Technology S.A. (NYSE:SPOT), is a leading global audio streaming service offering users access to a vast library of music, podcasts, and other audio content. As of 2024, Spotify boasts 675 million monthly active users, including 263 million paid subscribers, positioning it as a leader in the music streaming industry.
In 2024, Spotify Technology S.A. (NYSE:SPOT) achieved significant financial milestones, reporting an 18% increase in revenue to $16.95 billion. This growth was propelled by higher subscription fees that did not deter user growth, reflecting the platform’s strong value proposition. The company also paid out over $10 billion in royalties, up from $9 billion the previous year, while reducing the percentage of total revenue spent on royalties to 59%. This strategic cost management contributed to a gross margin of 30% and an EBITDA of $1.48 billion, marking Spotify’s first full year of profitability. The company’s market value more than doubled in 2024 and has increased by another 16% since January 2025, indicating robust investor confidence.
On March 13, Spotify Technology S.A. (NYSE:SPOT) announced the launch of a new publishing program that allows authors to submit short-form stories for audiobook adaptation, expanding its presence in the audiobook market. The company will handle production and distribution, positioning itself as a stronger competitor to Audible, which dominates the audiobook industry with exclusive short-form content. This move follows Spotify’s 2021 acquisition of Findaway, a digital audiobook distributor.
Financially, Spotify Technology S.A. (NYSE:SPOT) continues to break records, recently surpassing $10 billion in annual payments to the music industry—more than any single retailer in history. However, its stock has faced volatility, losing 16.35% over the past month and underperforming the broader market. Despite this, analyst sentiment remains bullish, with 41 analysts rating the stock, 63% of whom have issued a “Strong Buy” rating.
On March 14, 2025, Spotify Technology S.A. (NYSE:SPOT) closed at $574.79, up 6.86% in a single day, extending gains from earlier in the week. Strong revenue growth and strategic expansions keep investors optimistic about future performance.
Overall, Spotify Technology S.A. (NYSE:SPOT) ranks first on our list of best European stocks to buy according to billionaires. While we acknowledge the potential for SPOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SPOT but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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