Top 5 Stock Picks of Joshua Kushner’s Thrive Capital

3. Nu Holdings Ltd. (NYSE:NU)

Thrive Capital’s Stake Value:  $172,410,000

Percentage of Thrive Capital’s 13F Portfolio: 16.14%

Number of Hedge Fund Holders: 17

Nu Holdings Ltd. (NYSE:NU) operates primarily in Brazil, Mexico, and Colombia as a digital financial services platform and technology company.

Securities filings for Q1 2022 reveal that Thrive Capital added Nu Holdings Ltd. (NYSE:NU) to its portfolio by purchasing 22.3 million shares worth $172.4 million, representing 16.14% of the total 13F holdings.

Soomit Datta of New Street Research on July 6 reduced the firm’s price target on Nu Holdings Ltd. (NYSE:NU) to $7 from $9 and maintained a Neutral rating on the stock. According to the analyst, the tougher cycle will “likely catch up with the digital banks/wallets in Brazil” more in Q2 following a “generally stronger” than expected Q1 for both Nu Holdings and MercadoLibre (MELI).

Among the hedge funds tracked by Insider Monkey, 17 funds were bullish on Nu Holdings Ltd. (NYSE:NU) at the end of Q1 2022, with combined stakes worth $2.8 billion. Catherine Wood’s ARK Investment Management is the leading position holder in the company, with 4.8 million shares valued at around $18.6 million.