Chinese Billionaire Chen Tianqiao’s Top 5 Stock Picks

Below is the list of billionaire Chen Tianqiao’s top 5 stock picks. For a comprehensive list and Chen’s track record please see Billionaire Chen Tianqiao’s Top 10 Stock Picks.

5. Visa Inc. (NYSE: V)

Billionaire Chen Tianqiao bought a stake in the payment technology company Visa Inc. (NYSE: V) during the pandemic selloff in early 2020 and added to the existing position in the December quarter. The firm held 165,000 shares of Visa at the end of the fourth quarter, accounting for 1.96% of the overall portfolio.

Wedgewood Partners, an investment management firm, highlighted a few stocks including Visa in the fourth-quarter investor letter. Here is what Visa said:

“Visa payment volume recovered along with consumer spending habits, finishing up +5% during the December quarter; but it skewed heavily toward online purchases, particularly with debit. Historically, Visa has had a meaningful portion of its volume derived from higher-yielding credit card spending related to cross-border travel and entertainment (T&E). As many countries maintain closed borders, Visa’s cross-border T&E segment has stayed depressed. However, we expect this business will rebound as borders inevitably reopen to COVID-19 vaccinated populations. In the meantime, we trimmed Visa to help fund a reestablished position in Booking Holdings, which should disproportionately benefit from the aforementioned reopening as well.”