Warren Buffett and Hedge Funds Are Crazy About These 10 Stocks

4. MasterCard Incorporated (NYSE:MA)

Berkshire Hathaway’s Stake Value: $1.92 Billion

Number of Hedge Fund Investors: 148

MasterCard Incorporated (NYSE:MA) has returned to life amid the artificial intelligence revolution. A move by the digital payment processing company to integrate artificial intelligence technology into its product offerings to enhance how retailers and consumers connect is increasingly paying off. For instance, MasterCard Incorporated (NYSE:MA) is using the technology to beef up its platform’s security and improve fraud detection.

The improvements have been the catalyst behind MasterCard Incorporated (NYSE:MA) delivering better-than-expected financial results characterized by 13% growth in revenues and 20% growth in EPS in the recent quarter. With management confident of double-digit revenue growth in 2024, MasterCard Incorporated (NYSE:MA) will remain one of the top stocks that Warren Buffett and hedge funds would be crazy about.

The number of hedge funds that held stakes in the digital payment processing company as of the first quarter stood at 148, an improvement from 141 as of the end of 2023, according to the Insider Monkey Database.

In the second quarter investor letter of 2024, L1 Capital International Fund shared its commentary on Mastercard Incorporated (NYSE:MA), detailing the company’s performance and strategic direction. Here is what the fund said:

“The share prices of Mastercard Incorporated (NYSE:MA) and Visa, both long term Fund investments, have both drifted down over recent months. There have been no dramatic developments, but there has been a general slight softening in the rate of growth of consumer spending in the U.S. and globally, a court decision rejecting Mastercard and Visa’s proposed settlement of a long-lasting dispute with U.S. merchants as well as other modest adverse regulatory developments. We continue to view Mastercard and Visa as two of the highest quality businesses in the world, and both are well placed to continue to deliver attractive, risk adjusted returns to shareholders over time.”