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10 Best Stocks to Buy Today According to Wallace Weitz’s Hedge Fund

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·5 min read
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  • V
  • MA
  • SCHW
  • FB
  • GOOGL
  • BRK-B

In this article, we discuss the 10 best stocks to buy today according to Wallace Weitz's hedge fund. If you want to skip our comprehensive analysis of these stocks, go directly to 5 Best Stocks to Buy Today According to Wallace Weitz's Hedge Fund.

Known in the financial world as 'Omaha's Other Miracle', both for his value investment strategy and residence in Warren Buffett's vicinity, Wallace Weitz is a towering figure in the investment community. He founded his hedge fund in 1983, and currently serves as its Co-Chief Investment Officer and Portfolio Manager. Weitz's fund currently has approximately $2.38 billion in assets under management (AUM), with primary holdings in technology, services and the financial sector.

Weitz has a Bachelor's degree in Economics from Carleton College, and is known as a savvy investor who focuses on troubled companies that eventually give significant gains.

Some of the notable stocks in Weitz's portfolio include Berkshire Hathaway Inc. (NYSE: BRK.A), Alphabet Inc. (NASDAQ: GOOG), and Visa Inc. (NYSE: V).

Based on the third quarter holdings data of Weitz Investment Management, here is a list of top 10 stocks to buy according to Wallace Weitz.

Source: Unsplash

10 Best Stocks to Buy Today According to Wallace Weitz's Hedge Fund

10. Mastercard Incorporated (NYSE:MA)

Weitz Investment Management's Stake Value: $85.7 million

Percentage of Weitz Investment Management's 13F portfolio: 3.58%

Total Number of Hedge Fund Holders: 156

Mastercard Incorporated (NYSE: MA) starts off our list of top stocks to buy according to Wallace Weitz. The technology giant offers financial payment solutions which connect merchants, institutions, governments and businesses.

As of the end of the third quarter, Wallace Weitz's fund owned 246,600 shares of the company, worth $85.74 million. The fund increased its stake in the company by 3% in the third quarter as compared to the previous quarter.

Out of 873 hedge funds in Insider Monkey's database, 156 reported owning positions in Mastercard Incorporated (NYSE: MA), with a total value of $17.09 billion. This data was compiled as of the second quarter of 2021.

In Q3 2021, Mastercard Incorporated (NYSE: MA) posted an EPS of $2.37, beating estimates by $0.18.

On November 15, research firm Mizuho retained its 'Buy' rating on Mastercard Incorporated (NYSE: MA) stock, raising the price target to $465 from $450.

Just like Berkshire Hathaway Inc. (NYSE: BRK.A), Alphabet Inc. (NASDAQ: GOOG), and Visa Inc. (NYSE: V), Mastercard Incorporated (NYSE: MA) is a popular stock among hedge funds.

9. Starz Acquisition LLC (NASDAQ:STRZA)

Weitz Investment Management's Stake Value: $87 million

Percentage of Weitz Investment Management's 13F portfolio: 3.64%

Total Number of Hedge Fund Holders: N/A

The media and entertainment firm ranks 9th on our list of top stocks to buy according to Walter Weitz's fund. Starz Acquisition LLC (NASDAQ: STRZA) was recently acquired by Lions Gate Entertainment Corp. (NYSE:LGF-A) for $4.4 billion, in a bid to increase its market dominance in premium scripted television, and to boost its global distribution presence.

8. Visa Inc. (NYSE:V)

Weitz Investment Management's Stake Value: $95.22 million

Percentage of Weitz Investment Management's 13F portfolio: 3.98%

Total Number of Hedge Fund Holders: 162

Visa Inc. (NYSE: V) is a digital payment services company based in San Francisco, California. Weitz Investment Management Inc owns 427,500 shares in the company, with a combined value of $95.22 million. Weitz has increased his holding in Visa Inc. (NYSE: V) by 3% over the last quarter.

Visa Inc. (NYSE: V) posted an EPS of $1.62 in Q3 2021, beating estimates by $0.08. The company is expected to enjoy growth in 2022 as the reopening of US borders for vaccinated travelers will boost international payments.

On November 17, research firm UBS initiated its coverage on Visa Inc. (NYSE: V) with a 'Buy' rating. The firm's analyst Rayna Kumar set the price target at $275.

7. The Charles Schwab Corporation (NYSE:SCHW)

Weitz Investment Management's Stake Value: $96.51 million

Percentage of Weitz Investment Management's 13F portfolio: 4.04%

Total Number of Hedge Fund Holders: 72

Next up is The Charles Schwab Corporation (NYSE: SCHW), a financial services company based in Austin, Texas. It operates through its two segments: Investor Services and Advisor Services. The company offers asset and wealth management, securities brokerage, banking and financial advisory services.

As of the end of the third quarter, Wallace Weitz's fund owned 1,325,000 shares of The Charles Schwab Corporation (NYSE: SCHW), worth $96.51 million. This represents 4.04% of Weitz's total holdings.

On October 26, research firm Morgan Stanley kept its 'Overweight' rating on The Charles Schwab Corporation (NYSE: SCHW) stock, raising the price target to $115 from $97. Analyst Michael Cyprys noted that the company saw accelerated customer growth since its merger with TD Ameritrade, and is positioned to reach a "$200+ billion valuation" in the next five years.

In Q3 2021, The Charles Schwab Corporation (NYSE: SCHW) posted an EPS of $0.84, beating estimates by $0.03. The company raked in $4.57 billion in revenue for the quarter, beating analysts' forecast by $47.10 million.

In Q2 2021, 72 out of 873 hedge funds tracked by Insider Monkey reported owning stakes worth $4.85 billion in The Charles Schwab Corporation (NYSE: SCHW). In contrast, 76 hedge funds held $4.90 billion worth of stakes in the previous quarter.

6. Meta Platforms, Inc. (NASDAQ:FB)

Weitz Investment Management's Stake Value: $97.37 million

Percentage of Weitz Investment Management's 13F portfolio: 4.07%

Total Number of Hedge Fund Holders: 266

Ranking 6th on Wallace Weitz's list of top stocks to buy is Meta Platforms, Inc. (NASDAQ: FB), formerly known as Facebook Inc. The global social media conglomerate owns and operates popular platforms WhatsApp and Instagram, and has a market cap of $960.54 billion. According to regulatory filings for the third quarter, Weitz's fund owns 286,900 shares of the company, which represents 4.07% of the fund's overall portfolio.

In the third quarter of 2021, Meta Platforms, Inc. (NASDAQ: FB) posted an EPS of $3.22, beating estimates by $0.04.

On October 26, research firm Jefferies maintained its 'Buy' rating on Meta Platforms, Inc. (NASDAQ: FB) stock, setting a $420 price target.

Meta Platforms, Inc. (NASDAQ: FB) remained popular among hedge funds, as 266 hedge funds out of 873 in Insider Monkey's database reported owning stakes in the company in the second quarter of 2021. The total worth of these stakes was $42.34 billion.

Along with Berkshire Hathaway Inc. (NYSE: BRK.A), Alphabet Inc. (NASDAQ: GOOG), and Visa Inc. (NYSE: V), Meta Platforms, Inc. (NASDAQ: FB) is a stock option continuing to attract investors.

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Disclosure: None. 10 Best Stocks to Buy Today According to Wallace Weitz's Hedge Fund is originally published on Insider Monkey.