5 Stocks to Buy Now According to Billionaire Jeffrey Talpins

3. StoneCo Ltd. (NASDAQ:STNE)

Element Capital’s Stake Value: $18,602,000 

Percentage of Element Capital’s 13F Portfolio: 8.13%

StoneCo Ltd. (NASDAQ:STNE) is Jeffrey Talpins’ way of betting on the Brazilian fin-tech industry. The company is a provider of digital financial services and e-commerce solutions to small and medium enterprises (SMEs) in Brazil. Both these industries are rapidly penetrating and growing in the Brazilian market. The Oracle of Omaha, Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK-B), has also allocated 0.24% to its portfolio to this company. Moreover, Cathie Wood’s ARK Investment disclosed that it had acquired 294,220 shares of StoneCo Ltd. (NASDAQ:STNE) during Q3 2021.

However, StoneCo Ltd. (NASDAQ:STNE) had to book higher provisions for non-performing loans, which looks manageable. Furthermore, StoneCo Ltd. (NASDAQ:STNE) has entered into a commercial partnership with Banco Inter, a leading Brazilian digital bank with a customer base of over 10 million customers. Under the terms of the deal, StoneCo Ltd. (NASDAQ:STNE) became a minority shareholder in Banco Inter with a 4.99% stake by investing approximately $471 million. Meanwhile, both companies will work on bringing Banco’s large customer base to Stone merchants and provide an Omni-channel experience to Banco Inter’s customers. Out of 867 hedge funds covered by Insider Monkey, 37 hedge funds held a position in StoneCo Ltd. (NASDAQ:STNE) at the end of Q3 2021.