CNBC's Investment Committee's Top Picks for 2026: Amazon, Sabra and Visa
Summary
CNBC's Investment Committee panelists discuss their top picks and existing positions for 2026. Kevin and Malcolm favor Amazon, Jenny discusses holding Fiserv and names Sabra Healthcare as her 2026 pick, and Malcolm favors fintech broadly and Visa specifically. The transcript ends during Kevin's comment on Visa and the Circle stablecoin partnership.
- Panelists present 2026 top picks and portfolio actions.
- Kevin sees Amazon as a catch-up trade on AWS, logistics, advertising, Prime, and video.
- Malcolm expects Amazon robotics to drive long-term cost savings and earnings.
- Jenny discusses holding Fiserv after a steep decline, citing low valuation and new management.
- Jenny picks Sabra Healthcare for value, yield, demographics, and momentum.
- Malcolm favors fintech broadly and Visa specifically on rates, deregulation, AI, and stablecoin remittances.
- Kevin says he has long owned Visa and agrees the Circle transaction is offense and defense.
- The transcript cuts off during Kevin's Visa comment.
Ideas
Amazon is a 2026 catch-up trade.
Amazon had a lackluster 2025, up only about 4-5%, which he views as a reset/stall. With AWS, operational efficiency, logistics, advertising, Amazon Prime, and video providing multiple levers, he expects the share price to catch up to the fundamentals in the near future.
Amazon robotics drive long-term margin catalyst.
Amazon's heavy robotics investments have hurt short-term prospects but should improve long-term prospects. He cites expectations that 600,000 warehouse jobs could be replaced by robots and Morgan Stanley's estimate of up to $4 billion of savings, which should fall to the bottom line and catalyze earnings.
Fiserv is a low-valuation recovery hold.
Fiserv trades at a very low valuation, owns bank backbone technology such as Zelle and Clover, mints cash flow, and has an excellent new CEO/management team. If it returns to high-single-digit to low-teens earnings growth, she would hold and play it for the future, while using tax-loss harvesting if there is a loss.
Sabra offers value, yield, demographics, momentum.
Sabra Healthcare trades at 12x FFO, about half the market multiple, with a 6.5% dividend yield. Its skilled nursing, senior housing, and behavioral health businesses benefit from demographic tailwinds; earnings are expected to grow 5.5%, management is excellent, and AI should be a benefit rather than a threat. She likes the combination of fundamentals and momentum.
Fintech benefits from rates, deregulation, AI.
He expects 2026 to be a great year for fintech broadly because of the declining rate environment, increased deregulation in the financial sector, and banks' difficulty implementing AI while other fintechs can get there faster.
Visa stablecoin remittance disruption not priced in.
Visa is his pick because its stablecoin partnership with Circle for global remittances can disrupt a huge market where up to 6% fees are charged. Visa's large installed base gives it an edge, the market did not react to the announcement, so the story is not priced in, and he intends to keep buying, especially if the share price comes down.
Visa stablecoin move is offense and defense.
He has owned Visa forever and agrees with Malcolm about the Circle stablecoin transaction, viewing it as offense and defense. He notes that there was a point when Circle and similar firms were thought to be taking business from Visa, though the transcript cuts off before he finishes the thought.
