Billionaire Richard Chilton’s Top 5 Stock Picks

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Below are Billionaire Richard Chilton’s Top 5 Stock Picks. For a comprehensive list please see Billionaire Richard Chilton’s Top 10 Stock Picks.

5. Mastercard Incorporated (NYSE: MA)

The hedge fund has been holding a position in Mastercard Incorporated (NYSE: MA) over the last eight years. It is the fifth-largest stock holding of billionaire Chilton’s firm. Despite underperformance in 2020, MA stock performed significantly well in the last ten years. Its shares are up 289% in the last five years and grew 1296% in the last ten years.

Del Principe O’Brien Financial Advisors highlighted a few stocks in their investor letter, and that includes Mastercard. Here’s what Del Principe O’Brien Financial Advisors stated:

“The market pullback in the spring gave us a chance to become owners of Mastercard, one of the biggest players in the global payments industry. In the fiscal year 2019, the company processed almost $5 trillion in purchase transactions and holds 29% of the global market share for credit cards and 24% of the global market for debit cards.

In June, Mastercard entered into an agreement to acquire Finicity, a financial data and insight provider, for a purchase price of $825 million. The move is meant to strengthen Mastercard’s existing open banking platform. Open banking is a system that gives third parties, including other banks and tech start-ups that provide financial services (think budgeting apps), digital access to financial data. A user-focused innovation in the banking industry, open banking is thought to be the future of banking. We see an active investment in its open banking platform as a good move for Mastercard toward maintaining its leadership in the global market.”

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