Warren Buffett and Hedge Funds Love These 5 Stocks

2. Visa Inc. (NYSE:V)

Number of Hedge Funds: 167

Warren Buffett owns a $1.91 billion stake in Visa Inc. (NYSE:V) as of the end of the third quarter of 2023. Berkshire first bought a stake in the payments giant back in 2011. This shows the confidence and long-term perspective Berkshire has on Visa Inc. (NYSE:V) stock.

Overall, 167 hedge funds tracked by Insider Monkey had stakes in Visa Inc. (NYSE:V) as of the end of the third quarter.

Ensemble Capital Management made the following comment about Visa Inc. (NYSE:V) in its Q3 2023 investor letter:

“Mastercard is a company that pretty much everyone has heard of. In fact, when we meet with Ensemble’s clients, we occasionally tell them that we’re nearly certain that they are carrying a Mastercard in their wallet or purse as we speak, and if not, they are carrying a Visa Inc. (NYSE:V). Most people carry both.

People carry Mastercard and Visa because they are accepted nearly everywhere in developed markets. And they are accepted in most emerging economies, at least at locations where higher income people spend money. As a shopper you can show up at a bodega in Peru, a high end hotel in Tokyo, a truck stop in Alabama, or an ice cream cart in Milan, show them a piece of plastic and they’ll let you walk away with goods and services without any worry that they aren’t going to get paid…”