Top 5 Stock Picks of Brad Farber’s Atika Capital

1. Upstart Holdings, Inc. (NASDAQ:UPST)

Atika Capital’s Stake Value: $86,072,000

Percentage of Atika Capital’s 13F Portfolio: 5.12%

Number of Hedge Fund Holders: 21

Upstart Holdings, Inc. (NASDAQ:UPST) is the largest holding in Atika Capital’s Q3 portfolio, with the firm owning 272,000 shares in Upstart Holdings, Inc. (NASDAQ:UPST), worth over $86 million, representing 5.12% of the fund’s total investment securities. 

Upstart Holdings, Inc. (NASDAQ:UPST) is a financial technology company that employs artificial intelligence to use non-traditional metrics like employment and education to assess creditworthiness for consumer lending. As of June this year, 21 hedge funds were bullish on Upstart Holdings, Inc. (NASDAQ:UPST), up from 13 in the preceding quarter. Jim Simons’ Renaissance Technologies holds a $292 million stake in the company, making it one of the leading Upstart Holdings, Inc. (NASDAQ:UPST) stakeholders. 

On November 9, the Q3 EPS for Upstart Holdings, Inc. (NASDAQ:UPST) came in at $0.60, exceeding estimated EPS by $0.27. Revenue for the quarter equaled $228.45 million, outperforming estimates by $13.57 million. 

Here is what Third Point Management has to say about Upstart Holdings, Inc. (NASDAQ:UPST) in its Q3 2021 investor letter:

“Our top winners on a percentage basis in Q3 were our two largest positions (which includes) Upstart, up 153%. Upstart has started to upend the FICO-dependent, $84 billion unsecured personal loan market with its AI-driven underwriting approach and is ramping up its footprint in the $685 billion auto lending market. In its most recent earnings report, the company raised its full-year revenue estimates by 25%.”

You can also take a look at Michael Burry Stock Portfolio: 10 Newest Additions in 2021 and Mark Cuban Stock Portfolio: 10 Stocks To Consider.

Follow Insider Monkey on Twitter