Brad Gerstner Portfolio: Top 7 New Stock Picks

4. Futu Holdings Limited (NASDAQ:FUTU)

Altimeter Capital’s Stake Value: $55,070,488

Number of Hedge Fund Holders: 29

Futu Holdings Limited (NASDAQ:FUTU) is a financial technology company based in Hong Kong. The stock is a new addition to Brad Gerstner’s portfolio, as of Q3 2024. The company operates a fully digitized brokerage platform, Futubull, that offers market data, financial news, interactive social features, and investor education. Its subsidiaries provide trading and clearing services for the United States, Hong Kong SAR, China Connect, Singaporean, Australian, Japanese, Canadian, and Malaysian stocks.

The company holds over 100 licenses and qualifications from across the globe. In July, Futu Holdings Limited (NASDAQ:FUTU) announced a license uplift allowing the company to provide virtual asset dealing in Hong Kong. During the same month, the company’s wealth management subsidiary surpassed $10 billion in assets under management, and in July the company announced a HKD 440 million investment in Airstar Bank.

In the third quarter of 2024, Futu Holdings Limited (NASDAQ:FUTU) saw a 33% increase in total paying clients and a 23% increase in registered clients. Overall, total users grew by 14.4%, and client assets by 48%. The third quarter has been exemplary for FUTU, given that trading volume increased by nearly 75% to reach HKD1.9 trillion.

According to the company’s chairman and chief executive officer, the company acquired another 154,000 paying clients, with Hong Kong and Singapore making up more than one-third of them. The company claims to continue optimizing its client acquisition channels and marketing campaigns in the two markets. Analysts are also bullish on the stock and their median price target represents an upside of 33% from current levels.