Billionaire Izzy Englander’s 5 Favorite Stocks Heading Into 2021

4. PayPal Holdings, Inc. (NASDAQ:PYPL)

A technology platform and digital payments company PayPal Holdings, Inc. (NASDAQ: PYPL) is one of the favorite stocks of Millennium Management. The hedge fund increased its position in PayPal by 4% in the latest quarter.

Other hedge funds are also bullish on PayPal Holdings. It was in 150 hedge funds’ portfolios at the end of September, up from a previous all-time high of 144. PayPal also ranks 8th among the 30 most popular stocks among hedge funds.

Polen Capital Management, which has generated a 9.09% return gross of fees, commented about PayPal in the investor’s letter. Here is what Polen Capital Management stated:  

“We continue to have high conviction in MasterCard and Visa, which we trimmed last quarter, and chose to rebalance our weights as we added to our position in PayPal. PayPal’s value proposition to merchants and consumers continues to expand in the current environment, and we believe this will have a lasting positive impact on the business. At the end of the quarter, our collective position in Visa, MasterCard, and PayPal was more than 13%, an increase in our aggregate weight from the start of the year.”