Frank Fu’s CaaS Capital Portfolio: Top 5 Stock Picks

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1. Lufax Holding Ltd (NYSE:LU)

CaaS Capital’s Stake Value: $95.3 million

Percentage of CaaS Capital’s 13F Portfolio: 1.6%

Number of Hedge Fund Holders: 19

Lufax Holding Ltd (NYSE: LU) is a Chinese financial company that provides services like wealth management and retail credit facilitation. The company has 47 million customers. It was listed in the New York Stock Exchange in 2020. In the second quarter, the company filed a revenue of $2.29 billion with an EPS of $0.29, beating analyst estimates by $0.05. 

On August 10, Morgan Stanley analyst Richard Xu switched LU to ‘Overweight’ rating with a price target of $13, down from $14.80, after the company filed better than expected profits in the second quarter of 2021 with “stable loan business and good cost control.” After the recent share-price pullback, he perceives the “de-rating” of the shares as “overdone” and sees good value at present levels, Xu notes to investors. CaaS Capital has over 8.4 million shares in the company representing 1.6% of their total investment portfolio. 

You can also take a peek at the 5 New Stocks for 2021: Qing Li’s Sciencast Management Portfolio and Ark Invest Stock Portfolio: Top 10 Picks.

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