5 Recession-Proof Stocks Billionaires Are Loading Up On

3. Visa Inc. (NYSE:V)

Number of Billionaire Investors: 24

Visa Inc. (NYSE:V) shares have gained about 13% year to date. Visa Inc. (NYSE:V) is also a strong dividend payer. In April Visa Inc. (NYSE:V) posted fiscal Q2 results. Visa’s EPS and revenue beat analyst estimates.

Insider Monkey’s database of billionaire-owned stocks shows that 24 billionaire-led hedge funds had stakes in Visa Inc. (NYSE:V). Some of the notable billionaires with stakes in Visa Inc. (NYSE:V) are Chris Hohn, Rajiv Jain, Warren Buffett and Andreas Halvorsen.

Overall, 173 hedge funds tracked by Insider Monkey had stakes in Visa Inc. (NYSE:V).

Manole Capital Management made the following comment about Visa Inc. (NYSE:V) in its second quarter 2023 investor letter:

“We like to start out all of our discussions by telling investors who we are. We are FINTECH investors, and we define Fintech as “anything utilizing technology to improve an established process.” We realize that half of Fintech is financial, but we don’t invest in traditional, credit sensitive banks. Having managed money during the Financial Crisis, we learned firsthand how certain opaque and balance sheet intensive financials could go bankrupt or insolvent.

We prefer transaction-based businesses, generating recurring revenue, with sustainable margins, and significant cash flow. From our perspective, the perfect example of a FINTECH business is the secularly growing payments industry. Names like Visa Inc. (NYSE:V) or Mastercard, that generate revenue and profit per swipe or transaction, without the underlying credit sensitivity or risk associated with that underlying line of credit.”