5 Safe Haven Stocks Billionaires Are Loading Up On

3. Mastercard Incorporated (NYSE:MA)

Number of Billionaire Investors: 20

Payments giant Mastercard Incorporated (NYSE:MA) ranks 3rd in our list of the best safe haven stocks billionaires love in 2023. A total of 20 billionaires in Insider Monkey’s database had stakes in Mastercard Incorporated (NYSE:MA). Among these are Warren Buffett, Andreas Halvorsen, DE Shaw, and Cliff Asness.

Manole Capital Management made the following comment about Mastercard Incorporated (NYSE:MA) 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 or Mastercard Incorporated (NYSE:MA), that generate revenue and profit per swipe or transaction, without the underlying credit sensitivity or risk associated with that underlying line of credit.”