10 Best Stocks to Buy for the Long-Term According to Charles Akre

6. Visa Inc. (NYSE:V)

Akre Capital Management’s First Major Purchase: 2012

Akre Capital Management’s stake value: $899.56 million

Number of Hedge fund holders as of Q3: 165

Visa Inc. (NYSE:V) is a payment technology company that operates VisaNet, a transaction processing network. The network enables authorization, clearing, and settlement of payment transactions. With the global digital payment market projected to reach USD 361.3 billion by 2030, growing at a CAGR of 21.1%, it is arguably one of the best long-term stocks to buy amid this growth.

Visa Inc. (NYSE:V) revenue has grown from $12.7 billion a decade ago to over $35 billion in fiscal 2024. Given their growing convenience, the growth is poised to continue amid the rise of cashless transactions. Visa should be one of the biggest beneficiaries as a provider of the base layer service that connects consumers’ merchants and banks. Given that Visa operates the largest credit card network, which powers over 4 billion cards worldwide while working with over 14,500 financial institutions, opportunities for growth are endless.

In its fiscal fourth quarter, Visa Inc. (NYSE:V) launched the Yueda Card to strengthen its push for cross-border payments. Its revenues in the fourth quarter were up 12% year over year to $9.6 billion as the company benefits from increased consumer spending and global reach as global interest rates come down.