5 Best Stocks to Buy and Hold for the Next 15 Years According to Cathie Wood’s Portfolio

1. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Holders: 86

Cathie Wood first bought a stake in Intuit Inc. (NASDAQ:INTU) in the second quarter of 2017. Over the years she’s trimmed and upped her stake in Intuit Inc. (NASDAQ:INTU). As of the end of the second quarter of 2023, ARK Invest had a $33 million stake in Intuit Inc. (NASDAQ:INTU).

In August Intuit Inc. (NASDAQ:INTU) posted fiscal Q4 results. Adjusted EPS in the period came in at $1.65 beating estimates by $0.21. Revenue in the quarter came in at $2.7 billion, beating estimates by $60 million.

Artisan Global Opportunities Fund made the following comment about Intuit Inc. (NASDAQ:INTU) in its Q2 2023 investor letter:

“Intuit Inc. (NASDAQ:INTU) has dominant market share positions in its two largest brands. QuickBooks has 75%–80% share in small business accounting, and TurboTax has 60%–65% share in tax prep software and 30% share of overall tax filings. And Intuit is driving growth within each platform. The recently launched QuickBooks Advanced is serving as a new customer acquisition funnel in the middle market and a retention tool for the 10%–15% of customers who “graduate” off the QuickBooks platform each year. Also, the company is experiencing accelerating growth within its underpenetrated payroll and payments offerings, which will drive higher average revenues per customer and higher margins. With TurboTax, the company is focusing on moving more people to live-assisted and full-service offerings. The do-it-yourself tax market is gaining 1%–2% of market share per year against CPA/accountants who control about 40% market share. And the overall market should continue to grow 1%–2% per year just based on growth in total IRS returns. While the company has sizable exposure to the small- and medium-sized business market, we believe it would be insulated from an economic slowdown given the mission-critical nature of these two offerings. We are also encouraged by the company’s plans to improve the platform by utilizing AI, which would drive an enhanced customer experience.”

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