White Falcon Capital Management, an investment fund manager, released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In 2023, the fund was up 36.0% compared to the S&P 500 (CAD), the MSCI All Country (CAD), and the S&P TSX’s returns of 23.2%, 18.5%, and 11.8%, respectively. The portfolio benefited from technology stocks during the year. In addition, please check the fund’s top five holdings to know its best picks in 2023.
White Falcon Capital Management featured stocks such as Nu Holdings Ltd. (NYSE:NU) in the fourth quarter 2023 investor letter. Headquartered in Sao Paulo, Brazil, Nu Holdings Ltd. (NYSE:NU) offers a digital banking platform and digital financial services. On January 17, 2024, Nu Holdings Ltd. (NYSE:NU) stock closed at $9.09 per share. One-month return of Nu Holdings Ltd. (NYSE:NU) was 10.45%, and its shares gained 151.10% of their value over the last 52 weeks. Nu Holdings Ltd. (NYSE:NU) has a market capitalization of $43.222 billion.
White Falcon Capital Management stated the following regarding Nu Holdings Ltd. (NYSE:NU) in its fourth quarter 2023 investor letter:
“The top 5 positions in the portfolio were: Precious Metals royalty basket, Nu Holdings Ltd. (NYSE:NU), AMD Amazon.com and Converge Technology Services. We often talk about our investment in Nu Holdings but have not presented you with a detailed research report. Our cost base on Nu is about $4 per share while the stock is currently trading for $9 per share. We continue to hold this position and, in the appendix to this letter, we are attaching our thesis on Nu Holdings. We are of the opinion that Nu is a rare company with the powerful combination of substantial market opportunity, an excellent business model, and an outstanding management team.
Nu Holdings is a $40 bn market capitalization company listed on the NYSE that provides digital banking platforms and digital financial services in Brazil, Mexico, Colombia. It offers Nu credit and debit cards; savings solutions, such as Nu Personal Accounts, and a digital account solution that supports all personal finance activities…” (Click here to read the full text)
A close-up of a busy executive’s hand tapping the screen of a digital device, signifying the development of a digital retail banking solution.
Nu Holdings Ltd. (NYSE:NU) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held Nu Holdings Ltd. (NYSE:NU) at the end of third quarter which was 44 in the previous quarter.
We discussed Nu Holdings Ltd. (NYSE:NU) in another article and shared the list of stocks that billionaire Steve Cohen bought aggressively recently. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
