Top 2 Stock Picks of Vikram Kumar’s Kuvari Partners

1. Upstart Holdings, Inc. (NASDAQ:UPST)

Kuvari Partners’ Stake Value: $81,164,000

Percentage of Kuvari Partners’ 13F Portfolio: 31.79%

Number of Hedge Fund Holders: 21

Upstart Holdings, Inc. (NASDAQ:UPST) is the largest holding in the Q2 portfolio of Vikram Kumar, who owns 649,829 shares in Upstart Holdings, Inc. (NASDAQ:UPST) via Kuvari Partners as of June this year. This stock accounts for 31.79% of the firm’s investment portfolio. 

The leading stakeholder in Upstart Holdings, Inc. (NASDAQ:UPST) according to the hedge funds tracked by Insider Monkey, as of the second quarter, is Aubrey Capital Management, with stakes valued at more than $8.6 billion. Overall, 21 hedge funds in the database of Insider Monkey were long Upstart Holdings, Inc. (NASDAQ:UPST) as of Q2. 

Upstart Holdings, Inc. (NASDAQ:UPST) posted Q3 results on November 9. EPS for the period totaled $0.60, topping estimates by $0.27. Revenue for the quarter came in at $228.45 million, beating estimated revenue by $13.57 million. 

Arvind Ramnani from Piper Sandler, on November 10, stated that the Q3 earnings beat was a result of the increased loan volume and stable conversion rate, however, the stock is down by 20% since investors have high expectations and Upstart Holdings, Inc. (NASDAQ:UPST)’s auto opportunity is yet to be quantified. According to Ramnani, this stock dip is a good opportunity to purchase Upstart Holdings, Inc. (NASDAQ:UPST), which was awarded an Overweight rating and a $300 price target by the analyst. 

Here is what Third Point Management has to say about Upstart Holdings, Inc. (NASDAQ:UPST) in its Q3 2021 investor letter:

“Our top winners on a percentage basis in Q3 were our two largest positions (which includes) Upstart, up 153%. Upstart has started to upend the FICO-dependent, $84 billion unsecured personal loan market with its AI-driven underwriting approach and is ramping up its footprint in the $685 billion auto lending market. In its most recent earnings report, the company raised its full-year revenue estimates by 25%.”

You can also take a look at 10 Stocks That Beat Profit Expectations and 10 Stocks to Buy in 2021 According to Guy Spier’s Aquamarine Capital. 

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