Top 5 Stock Picks of Frank Fu’s CaaS Capital

4. The Charles Schwab Corporation (NYSE:SCHW)

CaaS Capital’s Stake Value: $21,813,000
Percentage of CaaS Capital’s 13F Portfolio: 0.89%
Number of Hedge Fund Holders: 78

The Charles Schwab Corporation (NYSE:SCHW), a savings and loan holding company, provides wealth management, securities brokerage, banking, asset management, custody, and financial advising services. CaaS Capital added The Charles Schwab Corporation (NYSE:SCHW) to its portfolio in the first quarter by buying 258,720 shares.

Analyst Brian Bedell of Deutsche Bank assigned the stock a Buy rating on May 19 but cut his price objective on The Charles Schwab Corporation (NYSE:SCHW) to $84 from $98. According to Bedell, fresh buying opportunities are emerging in the brokerage, asset management, and exchange sectors despite the stock market’s decline.

The Charles Schwab Corporation (NYSE:SCHW)’s largest investor is Natixis Global Asset Management’s Harris Associates, with 12.04 million shares worth $1.01 billion. During the first quarter of 2022, a poll of 912 hedge funds conducted by Insider Monkey revealed that 78 had held a stake in The Charles Schwab Corporation (NYSE:SCHW), up from 72 in the preceding quarter.

Baron Funds, in its Q1 2022 investor letter, mentioned The Charles Schwab Corporation (NYSE:SCHW). Here is what the fund said:

“Outperformance of the Fund’s investments in Communication Services, Financials, and Industrials and lower exposure to the lagging Consumer Discretionary sector added the most value. Within Financials, higher exposure to this outperforming sector and gains from online brokerage firm The Charles Schwab Corp (NYSE:SCHW) bolstered relative results. Schwab’s shares gained because of the positive impact higher interest rates will have on its future earnings.”