5 Tech Stocks to Buy According to Billionaire Philippe Laffont

4. Kanzhun Limited (NASDAQ:BZ)

Coatue Management’s Stake Value: $814,190,000

Percentage of Coatue Management’s 13F Portfolio: 3.31%

Number of Hedge Fund Holders: 18

Kanzhun Limited (NASDAQ:BZ) is a Chinese holding company offering online recruitment services, connecting job seekers and enterprise users through its interactive mobile application. Kanzhun Limited (NASDAQ:BZ), on November 23, posted its Q3 results. EPS in the period totaled $0.13, beating estimates by $0.02. The $189.58 million revenue also outperformed estimates by $3.87 million. 

Coatue Management, as of the third quarter of 2021, holds more than 23 million shares worth $814.1 million, representing 3.31% of the firm’s total 13F portfolio. The hedge fund increased its stake in Kanzhun Limited (NASDAQ:BZ) by 2143% in Q3.

A total of 18 hedge funds reported owning stakes in Kanzhun Limited (NASDAQ:BZ) at the end of September, worth $1.17 billion. This is compared to 26 funds being bullish on the stock in the prior quarter, with stakes valued at $447.7 million.

One of the largest Kanzhun Limited (NASDAQ:BZ) stakeholders from Q3 was Josh Resnick’s Jericho Capital Asset Management, with 2.26 million shares worth $81.4 million.