5 Best Performing Warren Buffett Stocks in 2023

2. StoneCo Ltd. (NASDAQ:STNE)

YTD Share Price Performance as of November 26: 71.19%

Berkshire Hathaway’s Stake Value: $114,120,430

StoneCo Ltd. (NASDAQ:STNE) offers financial technology and software solutions to merchants and integrated partners, allowing them to engage in electronic commerce in Brazil. Berkshire Hathaway 10.7 million shares of StoneCo Ltd. (NASDAQ:STNE) worth $114 million in the third quarter of 2023. It is one of the best performing Warren Buffett stocks this year. 

On November 14, StoneCo Ltd. (NASDAQ:STNE) announced board authorization to repurchase up to R$1 billion ($205.5 million) in common shares. This new buyback program replaced the previous one, which included the repurchase of 5.73 million shares at an average price of $10.29 per share, amounting to $59 million. 

According to Insider Monkey’s third quarter database, 32 hedge funds were bullish on StoneCo Ltd. (NASDAQ:STNE), compared to 35 funds in the prior quarter. Steve Cohen’s Point72 Asset Management is a significant position holder in the company, with 10.2 million shares worth $109.2 million. 

Nordstern Capital made the following comment about StoneCo Ltd. (NASDAQ:STNE) in its Q1 2023 investor letter:

“StoneCo Ltd. (NASDAQ:STNE): (STNE, share price increased + 1% in 1Q 2023)

The card association in Brazil has indicated that the industry should grow between 14% and 18% this year. And we expect to continue to gain market share.” – Thiago dos Santos Piao, Director and former CEO StoneCo Ltd

STNE’s transformation is progressing well. New key personnel have joined, the board and management have strengthened. Cash flows are growing, margins are increasing, the client base and market share keep expanding. The company is all set to restart its lending business in the second half of 2023.

In our view, despite all the changes, STNE still offers best-in-class service coupled with lower pricing than the industry and continues to drive high customer satisfaction…” (Click here to read the full text)

Follow Stoneco Ltd. (NASDAQ:STNE)