5 New Stock Picks of Ken Fisher

In this article, we discuss 5 new stock picks of Ken Fisher. If you want our detailed analysis of Ken Fisher’s history, investment philosophy, and hedge fund performance, go directly to 10 New Stock Picks of Ken Fisher. 

5. XP Inc. (NASDAQ:XP)

Fisher Asset Management’s Stake Value: $14,166,000

Number of Hedge Fund Holders: 28

Headquartered in São Paulo, Brazil, XP Inc. (NASDAQ:XP) is an investment management company specializing in fixed income, investment funds, private pension, wealth management, and related financial services. In Q4 2021, Ken Fisher acquired a position in XP Inc. (NASDAQ:XP), buying 492,906 shares of the company, worth $14.16 million. 

On January 11, in its Q4 update, XP Inc. (NASDAQ:XP) reported total assets under custody of R$815 billion as of December 2021, up 23% year-over-year, which was driven by R$230 billion of net inflows and R$75 billion of market depreciation.

XP (NASDAQ:XP) signed a binding agreement on January 7 for merging up to 100% of Banco Modal in exchange for 19.5 million newly issued XP Inc. (NASDAQ:XP) Class A shares or Brazilian Depositary Receipts, marking a 35% premium over Banco Modal’s last 30 days average price. 

Citi analyst Gabriel Gusan kept a Neutral rating on XP Inc. (NASDAQ:XP) on October 18 but opened a “30-day positive Catalyst Watch” on the shares. The analyst believes the company “could go back to delivering sound inflows and profitability in the medium term.”

Alkeon Capital Management is the biggest stakeholder of XP Inc. (NASDAQ:XP) as of Q3 2021, with 4.25 million shares worth $171 million. Overall, 28 hedge funds were long XP Inc. (NASDAQ:XP) in the third quarter of 2021, up from 25 funds in the preceding quarter.