Bares Capital’s Top 5 Stock Picks

2. Block Inc (NYSE:SQ)

Number of Hedge Fund Holders: 75
Bares Capital Management’s Equity Stake: $347.09 Million
2023 share price performance: 20%

Block Inc (NYSE:SQ) sums up Bares Capital Management’s exposure in the technology sector as it specializes in building ecosystems focused on commerce and financial products and services. Its Square segment offers commerce products for restaurants, appointments, retail, and point of sale. On the other hand, the Cash App segment provides financial tools, including peer-to-peer payments.

Block Inc (NYSE:SQ) was on a roll in 2023 as its stock gained 20%, affirming its status as one of Bare Capital’s top stock picks.

Wolfe Research analysts are optimistic about Block Inc (NYSE:SQ)’s growth metrics, especially in the Cash App’s segment.

“We see upside to #’s particularly in 2H (primarily from Cash App) due to higher inflow/active and adoption of Direct Deposit, uptake of new product and features, and faster integration and scaling of Commerce,” analysts led by Darrin Peller noted.

There were 75 hedge funds long Block Inc (NYSE:SQ) in the fourth quarter of last year. Catherine D. Wood’s ARK Investment Management remains the most prominent holder, with stakes worth $919.50 million.

[/company-follow-email]