This article presents an overview of the Warren Buffett and Hedge Funds Love These 5 Stocks. For a detailed overview of such stocks, read our article, Warren Buffett and Hedge Funds Love These 11 Stocks.
5. Bank of America Corp (NYSE:BAC)
Number of Hedge Funds: 88
Warren Buffett owns a $28.3 billion stake in Bank of America Corp (NYSE:BAC) as of the end of the third quarter of 2023. Overall, 88 hedge funds tracked by Insider Monkey had stakes in Bank of America Corp (NYSE:BAC).
Diamond Hill Select Strategy made the following comment about Bank of America Corporation (NYSE:BAC) in its Q2 2023 investor letter:
“Other bottom contributors included SunOpta, Bank of America Corporation (NYSE:BAC) and Texas Instruments. Bank of America (which we added to the portfolio in Q2) is among the US’s largest banks. Shares were pressured during the quarter against a still-challenging backdrop for banks, particularly as investors fret about rising deposit costs and the values of some longer-duration assets in a rising-rates environment.”
4. APPLE Inc. (NASDAQ:AAPL)
Number of Hedge Funds: 134
APPLE Inc. (NASDAQ:APPL) is one of the most favorite stocks of Warren Buffett. Berkshire owns a $157 billion stake in APPLE Inc. (NASDAQ:APPL) as of the end of the third quarter.
Recently, a Financial Times report said that APPLE Inc. (NASDAQ:APPL) is considering India as a production site for batteries of its next generation iPhones.
Here is what Claret Asset Management has to say about Apple Inc. (NASDAQ:AAPL) in its Q3 2023 investor letter:
“We have mentioned in the last letter that the “magnificent seven”, including Apple Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”
3. Mastercard Incorporated (NYSE:MA)
Number of Hedge Funds: 140
Berkshire Hathaway owns a $1.6 billion stake in Mastercard Incorporated (NYSE:MA). Overall, 140 hedge funds tracked by Insider Monkey reported owning stakes in Mastercard Incorporated (NYSE:MA) as of the end of the third quarter of 2023.
Mastercard Incorporated (NYSE:MA) recently increased its dividend by a whopping 15.8%. Mastercard Incorporated’s (NYSE:MA) board also approved a new $11 billion share repurchase program.
Here is what Baron FinTech Fund has to say about Mastercard Incorporated (NYSE:MA) in its Q3 2023 investor letter:
“Performance in Payments was bolstered by gains from Mastercard Incorporated. Shares of global payment network Mastercard were up modestly after reporting a continuation of double-digit earnings growth and resilient payment volumes.”
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…”
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Funds: 286
Warren Buffett owns a $1.3 billion stake in ecommerce and Cloud giant Amazon.com, Inc. (NASDAQ:AMZN). Out of the 910 hedge funds in Insider Monkey’s database, 286 hedge funds had stakes in Amazon.com, Inc. (NASDAQ:AMZN).
Last month, AWS and Amgen Inc (NASDAQ:AMGN) said they will work together for generative artificial intelligence (AI) solutions for discovery and development of medicines.
Here is what Claret Asset Management has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:
“We have mentioned in the last letter that the “magnificent seven”, including Amazon.com Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 13 Cheap Value Stocks To Buy According To Warren Buffett and the 12 Best Value Stocks To Buy According To Warren Buffett.
