9 Stocks to Invest In According to Joshua Kushner’s Thrive Capital

Published March 1, 2022 at 2:16 pm EST Updated August 19, 2026 at 7:09 am EDT

In this article, we discuss 9 stocks to invest in according to Joshua Kushner’s Thrive Capital.

Joshua Kushner is an American businessman and investor. He is an active partner at Thrive Capital, a hedge fund focused on venture capital and the co-founder of Oscar Health.

Thrive Capital is a private equity hedge fund that focuses on investments in media and technology. It is located in New York and was founded in 2009. The hedge fund concluded its eighth fund on February 17, with about $3 billion. It intends to invest $500 million in early-stage start-ups and the remaining $2.5 billion in later-stage enterprises. Oscar Health Inc., Compass Inc., Affirm Holdings Inc., Opendoor Technologies Inc., Unity Software Inc., Lemonade Inc., and Hims & Hers Health Inc. are a few companies Kushner’s business has backed that have gone public. As of the fourth quarter of 2021, Thrive Capital had a portfolio worth $1.06 billion.

Among the essential stocks in the portfolio of Joshua Kushner’s Thrive Capital are Compass, Inc. (NYSE:COMP), Vimeo, Inc. (NASDAQ:VMEO), and Robinhood Markets, Inc. (NASDAQ:HOOD).

In Compass, Inc., Joshua Kushner owns 7.29 million shares. The considerable investment covers 6.22% of the fund’s portfolio. As of February 28, Compass, Inc. shares shed 62.98% over the last twelve months.

Another mid-cap stock in Joshua Kushner’s portfolio is Vimeo, Inc.. The hedge fund chaired by Joshua Kushner owns more than 5.85 million shares in Vimeo, Inc. worth over $105.12 million, representing 9.88% of its investment portfolio.

Based on the 13F holdings for the fourth quarter of 2021, Thrive Capital owns 20.41 million shares in Robinhood Markets, Inc.. On February 18, Deutsche Bank analyst Brian Bedell boosted his price target on Robinhood Markets, Inc. to $14 from $12 and reiterated a Hold rating on the shares.

9 Stocks to Invest In According to Joshua Kushner's Thrive Capital

Source:Pixabay

Our Methodology

With this context in mind, here is our list of 9 stocks to invest in according to Joshua Kushner’s Thrive Capital. We picked these stocks from the Q4 portfolio of Kushner’s hedge fund.

Stocks to Invest In According to Joshua Kushner’s Thrive Capital

9. Twilio Inc. (NYSE:TWLO)

Thrive Capital Stake Value: $458,000

Percentage of Thrive Capital’s 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 80

Twilio Inc. (NYSE:TWLO) is a communications software company that offers a cloud-based platform and services. Based on its 13F holdings for the fourth quarter of 2021, Thrive Capital owns 1,741 shares in Twilio Inc., a position valued at $458,000.

Needham analyst Ryan Koontz cut Twilio Inc.’s price target from $400 to $350 on February 10, after noting many reductions among software rivals, but kept a Buy rating on the company following its Q4 results and projection. Twilio Inc. reported earnings for the fourth quarter of 2021 on February 9, with revenue of $842.74 million, beating predictions by $73.34 million.

Of the 80 hedge funds that were bullish on Twilio Inc. according to the fourth quarter database of Insider Monkey, Catherine D. Wood’s ARK Investment Management is the leading stakeholder of the company, holding 4.06 million shares worth $1.07 billion.

Twilio Inc. is one of the notable stocks gaining the attention of Thrive Capital, just like Compass, Inc., Vimeo, Inc., and Robinhood Markets, Inc..

In its second quarter 2021 investor letter, Lakehouse Capital mentioned Twilio Inc.. Here is what the fund said:

“The Fund held 20 positions as of the end of June and exited four during the year (including) Twilio. The companies we exited were sold almost entirely on the basis of their valuations getting stretched well past their norms and to levels where the return profile no longer offered the asymmetric upside that led us to invest in the first place. We dislike selling on valuation as great growth companies are hard to find and letting winners run is an important facet of a winning growth strategy, however, we’re not gluttons for punishment either and in each of those cases we redeployed capital towards other high-quality growth companies with less demanding valuations.”

8. Roblox Corporation (NYSE:RBLX)

Thrive Capital Stake Value: $981,000

Percentage of Thrive Capital’s 13F Portfolio: 0.09%

Number of Hedge Fund Holders: 61

Roblox Corporation (NYSE:RBLX) is an internet gaming company that offers a diverse selection of games. Roblox Client, Roblox Studio, and Roblox Cloud are the platform’s three components. Roblox Corporation is getting the attention of the smart money, as 61 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the fourth quarter, up from 50 funds a quarter earlier.

On February 18, Jefferies analyst Andrew Uerkwitz decreased his price target on Roblox Corporation from $70 to $60 and maintained a Hold rating. He stated that the company’s Q4 results were the most divided since coming public, with high DAU growth mixed with the company’s worst net bookings growth.

On February 15, Roblox Corporation published earnings for the fourth quarter, announcing bookings of $770 million, missing estimates by $2 million. However, the 49.5 million average daily active users (DAUs) for the period was up 33% year-over-year.

In its third quarter 2021 investor letter, Jefferies Group, an investment management firm, mentioned Roblox Corporation. Here is what the fund said:

“If we look at the Metaverse concept with more lenient guidelines for interoperability, then it becomes easier to see why certain companies are being referred to as Metaverse. On the virtual side, we’d point to companies like Epic Games, TakeTwo and Roblox. In augmented reality, it would be Niantic and SNAP. These are the large capitalized players in the space but albeit, not the only ones. We expect new mulit-billion dollar companies will rise as the Metaverse becomes more mature.

Roblox is a good example. The content is almost entirely user generated, the engine that powers the developer studio is provided by Roblox and developers/creators share in almost all the money that users spend on the platform. In addition, many of the items that you purchase in the avatar marketplace, or even a branded experience like Vans World, can be taken across experiences. Roblox talks a lot about platform extension, which would move the platform beyond just gaming/leisure experiences and into education and workplace offerings. The developer community has the capability to build tools for other developers, there are professional studios being built on the platform and many consumer-facing brands/content are partnering with Roblox to ensure a virtual presence. Roblox actually has a lot of the pieces for our utopian definition of Metaverse, but things like technology, interoperability with outside platforms and a dynamic, two-way economy are what’s missing. However, given our thesis that full interoperability is somewhat unrealistic, it’s easy to see how Roblox fits the definition….(Click to read full text)

7. Blend Labs, Inc. (NYSE:BLND)

Thrive Capital Stake Value: $2,547,000

Percentage of Thrive Capital’s 13F Portfolio: 0.23%

Number of Hedge Fund Holders: 16

Blend Labs, Inc. (NYSE:BLND) is a cloud-based software platform that supports the end-to-end client journey for banking solutions for financial services companies. On February 14, Keefe Bruyette analyst Ryan Tomasello initiated coverage of Blend Labs, Inc., rating the stock as Market Perform and setting a price target of $11.75.

The fund first bought a stake in Blend Labs, Inc. in the third quarter of 2021. According to the 13F filings for the fourth quarter of 2021, Thrive Capital holds 346,970 shares of Blend Labs, Inc., amounting to more than $2.55 million and representing 0.23% of the fund’s portfolio value.

At the end of the fourth quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $325.58 million in Blend Labs, Inc., down from 19 the preceding quarter worth $487.75 million.

6. Hims & Hers Health, Inc. (NYSE:HIMS)

Thrive Capital Stake Value: $20,977,000

Percentage of Thrive Capital’s 13F Portfolio: 1.97%

Number of Hedge Fund Holders: 22

Hims & Hers Health, Inc. is a company that provides telemedicine consultations. It links patients with healthcare providers, allowing them to get mental health, sexual health, dermatology, and general care services. The number of hedge funds tracked by Insider Monkey having stakes in Hims & Hers Health, Inc. grew to 22 in Q4, up from 14 in the preceding quarter. These funds hold a consolidated value of $74.99 million, up from $55.22 million.

Sean Wieland of Piper Sandler cut his price objective on Hims & Hers Health, Inc. to $8 from $12 on February 23 and kept an Overweight rating on the stock. In a research note, Wieland informed investors that the lowered price target reflected significant reductions across the market in expectation of increasing rates and concerns connected with a shifting data privacy scenario.

Hims & Hers Health, Inc. and GNC Holdings, LLC announced a collaboration on February 15 to provide consumers health and wellness solutions at select GNC locations nationally and online at GNC.com.

Along with Compass, Inc., Vimeo, Inc., and Robinhood Markets, Inc., Hims & Hers Health, Inc. is one of the stocks on the radar of Joshua Kushner.

5. Compass, Inc. (NYSE:COMP)

Thrive Capital Stake Value: $66,261,000
Percentage of Thrive Capital’s 13F Portfolio: 6.22%
Number of Hedge Fund Holders: 28

Compass, Inc. is a registered real estate broker in the United States that uses real estate technology to sell its properties on the internet. Thrive Capital began building its position in Compass, Inc. in the second quarter of 2021. In the fourth quarter of 2021, the hedge fund held over 7.29 million shares of the company, valued at $66.26 million.

On February 17, Needham analyst Mayank Tandon cut his price objective on Compass, Inc. to $13 from $18, highlighting weaker real-estate tech stock multiples, but maintained a Buy rating on the stock.

At the end of the fourth quarter of 2021, 28 hedge funds in the database of Insider Monkey held stakes worth $499.52 million in Compass, Inc., up from 25 in the preceding quarter valued at $708.38 million.

In its third quarter 2021 investor letter, Artisan Partners mentioned Compass, Inc.. Here is what the fund said:

“We added several new GardenSM positions in Q3 including Compass. Compass is a real estate brokerage firm which provides its agents with a proprietary, end-to-end cloud-based platform. The company helps address the needs of buying and selling homes from client prospecting to closing, which includes customer relationship management, AI-driven prospecting, marketing (digital, social, email, video, print, signage, lead generation), market analysis and collaboration tools. The platform also uses machine learning, artificial intelligence and other advanced data analytics strategies to draw insights across the platform, allowing agents to be more efficient and informed in their selling efforts. We believe this technology advantage is key to the company continuing to disrupt and capture real estate commission market share. We have been impressed with the company’s ability to capture 4% market share since it was founded in 2012 (vs. Redfin, founded in 2002, holding a 1% market share). The company’s profit cycle can also be boosted by adding on additional services such as title insurance referral and escrow services, real estate marketing, home renovation referrals, home insurance and home warranty referrals—all of which we believe have a significantly larger addressable market than commissions (~7X).”

4. Vimeo, Inc. (NASDAQ:VMEO)

Thrive Capital Stake Value: $105,117,000
Percentage of Thrive Capital’s 13F Portfolio: 9.88%
Number of Hedge Fund Holders: 34

Vimeo, Inc., based in New York City, is an American video hosting, sharing, and services platform provider. Joshua Kushner’s Thrive Capital is the most significant stakeholder of Vimeo, Inc., with 5.85 million shares worth $105.12 million.

After Vimeo, Inc.’s Q4 earnings miss, Truist analyst Youssef Squali trimmed his price objective to $22 from $36 and maintained a Buy rating on February 14. Vimeo, Inc. announced a $7.6 million adjusted EBITDA loss for the fourth quarter of 2021 on February 9, compared to $0.7 million in the fourth quarter of 2020. Revenue over the period came in at $106.1 million, up 26.6% YoY.

At the end of the fourth quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $271.63 million in Vimeo, Inc., down from 36 in the preceding quarter worth $465.30 million.

Alphyn Capital Management, an investment management firm, in its second quarter 2021 investor letter, discussed its stance on Vimeo, Inc.. Here is what the fund said:

“Clients will notice a new ticker, VMEO, on your brokerage statements following its spin-out from IAC. I profiled IAC’s companies, including Vimeo, in some detail last year. The pandemic accelerated the use of video by both enterprises and small businesses, and I believe this will continue given the high engagement that video generates. The most recent numbers bear this out: May revenues rose 42% from a year earlier while subscriber base and average revenue per user increased 18%. With its comprehensive set of tools to make video creation more accessible, Vimeo has a great opportunity to capture a share of this growth. It further benefits from an attractive customer acquisition funnel – 65% of Fortune 500 enterprises have at least one self-serve Vimeo subscription (with ARPU6 of $250). The company is building out its sales team to help upsell these into enterprise accounts (with ARPU of $12,000). Finally, by buying IAC shares ahead of the spin, we received a long-term, high-growth SAAS “call option” at a much more palatable valuation than the current 20x price-to-sales. Historically, it has been very rewarding to hold onto IAC spins…”

3. Nu Holdings Ltd. (NYSE:NU.A)

Thrive Capital Stake Value: $209,483,000
Percentage of Thrive Capital’s 13F Portfolio: 19.69%
Number of Hedge Fund Holders: 28

Nu Holdings Ltd. (NYSE:NU.A) is a holding corporation. It owns stakes in several operational entities that provide digital banking services. On February 16, Bradesco BBI analyst Gustavo Schroden initiated coverage of Nu Holdings Ltd., rating the stock as Underperform and setting a price target of $5. According to the analyst, due to Brazil’s dismal economic conditions, Nu Holdings Ltd. would have both short and long-term hurdles in monetizing its extensive client base.

Nu Holdings Ltd. is a new arrival in Joshua Kushner’s portfolio, as his hedge fund bought about 22.33 million shares of the company in Q4, worth $209.48 million. By the end of the fourth quarter of 2021, Insider Monkey identified 28 hedge funds that had stakes in Nu Holdings Ltd.. The total value of these stakes was over $4.61 billion.

Nu Holdings Ltd., on February 22, posted earnings for the fourth quarter. The reported loss per share was $0.10, missing estimates by $0.06. Revenue over the period came in at $1.7 million, below the market predictions by $1.4 billion.

2. Oscar Health, Inc. (NYSE:OSCR)

Thrive Capital Stake Value: $295,272,000
Percentage of Thrive Capital’s 13F Portfolio: 27.76%
Number of Hedge Fund Holders: 19

Oscar Health, Inc. (NYSE:OSCR) is a holding company that offers medical insurance. Oscar Health, Inc. was raised to Neutral from Sell by Goldman Sachs analyst Nathan Rich on February 14, with a price objective of $9, up from $6.50.

According to the 13F filings for the fourth quarter of 2021, Thrive Capital is the most significant shareholder of Oscar Health, Inc.. The hedge fund holds over 37.61 million shares of Oscar Health, Inc., amounting to more than $295.27 million and representing 27.76% of the fund’s portfolio value.

At the end of the fourth quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $440.97 million in Oscar Health, Inc., down from 17 the preceding quarter worth $947.59 million.

1. Robinhood Markets, Inc. (NASDAQ:HOOD)

Thrive Capital Stake Value: $362,499,000
Percentage of Thrive Capital’s 13F Portfolio: 34.08%
Number of Hedge Fund Holders: 24

Robinhood Markets, Inc. is a company that provides financial services. The company pioneered commission-free stock trading and fractional share trading with no account minimums. Overall, hedge funds are loading up on Robinhood Markets, Inc. (NASDAQy:HOOD), as 24 out of the 924 funds tracked by Insider Monkey held stakes in the company, up from 20 funds a quarter earlier.

Out of the hedge funds being tracked by Insider Monkey, ARK Investment Management is a leading shareholder of Robinhood Markets, Inc., with 23.85 million shares worth more than $423.54 million. Another major stakeholder of Robinhood Markets, Inc. is Joshua Kushner’s Thrive Capital, which has a $362.50 million stake in the company.

In its fourth quarter 2021 investor letter, Claret Asset Management mentioned Robinhood Markets, Inc.. Here is what the fund said:

“Robinhood went public at $38 a share at the end of July of this year. After a one-day decline of 8%, it proceeded to rise to a peak of $85 in a matter of 4 days before settling down around $40 in September. Then, we found out that the company does not appear to understand the margin rules that apply to their client’s trades… and got fined by the Securities Exchange Commission. As of today, it is trading below $20, at 57 times earnings, approximately half of its IPO price. Caveat emptor… Buyer beware.”

You can also take a peek at Top 10 Stock Picks of Kenneth A. Moffet’s Hourglass Capital and 10 Stocks to Buy Now According to Hari Hariharan’s NWI Management

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