What smart money is saying about Nu Holdings
10 funds in our archive have pitched Nu Holdings, most recently White Falcon Capital Management Partner Strategy in June 2026.
Nu Holdings Ltd. provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States. The company provides spending solutions comprising Nu credit and prepaid card, a digitally enabled card that acts as a credit and a prepaid card; Nubank+ Tier, an evolution of the Nu experience; Ultraviolet credit and prepaid card, a premium metal credit card; mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones; and Nu Shopping, an integrated marketplace that enables customers to purchase goods and services from various ecommerce retailers. It also offers transactional solutions, such as Nu Personal Accounts, a digital account solution for personal financial activities; Nu business accounts for entrepreneur customers and their businesses; and Nu business prepaid and credit card. In addition, it offers savings and investing solutions, including Money Boxes, a solution for goal-based investing; investing solutions, an attractive investment product with customized and conflict-free guidance; and NuCrypto, a solution for buying and selling cryptocurrencies through the Nu app. Further, the company provides borrowing solutions comprising personal unsecured and secured loans; Pix financing that enables credit card and digital account customers to make free and instant peer-to-peer transfers; Boleto financing, which enables credit card and digital account customers to make payments; purchase financing; cash-in financing; and NuPay to make online purchases and pay for services through Nu app. Additionally, it offers protection solutions, such as NuInsurance protection solutions, including life, mobile, auto, home, and financial protection insurance policies; and beyond financial services solutions, including NuTravel, a travel portal; and NuCel, a mobile phone service. Nu Holdings Ltd. was founded in 2013 and is headquartered in São Paulo, Brazil.
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Fund signal · last 12 months
30 lettersMore funds are buying than selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q4 2026, 32 fund letters reported a position in Nu Holdings, with 14 buys (opened or added) and 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 0 | 0 |
| Q3 2026 | 10 | 4 | 2 | 0 |
| Q2 2026 | 14 | 8 | 0 | 4 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 4 | 1 | 0 | 2 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 2 | 1 | 0 | 2 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 32 positions · 17 moves
- HoldsAcatisOctober 2026
“The fund fell by 3.3% in September. Rising interest rates and higher risk pre- miums weighed on the bond side. On the equity side, TSMC (+12.6%) continued to benefit from strong AI demand; August revenue was 53% above the previous year. Infineon (+4.9%) was newly added to the portfolio. With the sale of the NOR flash business for USD 1.12 billion, the company is focusing more strongly on structural growth areas such as power semiconductors and AI data centers. Alphabet (+3.8%) impressed with its strong position in the AI competition. Stryker (-12.7%) was weighed down by lingering supply bottlenecks and weaker hip implant sales, but confirmed its full-year guidance for organic growth. Baker Hughes (-11.6%) declined despite new major orders in the LNG business. Nu Holdings (-11.0%) suffered from takeover speculation regarding Monzo, which the company subsequently rejected.”
Nu Holdings - HoldsSTK Long Biased FIC FIASeptember 2026
Listed in STK Long Biased FIC FIA’s reported holdings.
Nu Holdings - HoldsVision Capital FundSeptember 2026
“Fund Commentary. The top 5 QTD detractors were: Pro Medicus (PME), Tesla (TSLA), The Trade Desk (TTD), Nu (NU), and Wise (WISE).”
Nu Holdings - September 2026
“The top 5 positions in the portfolio are Precious Metals royalty companies, Nu Holdings, Unity Software, Rocket Companies, and Amazon.”
Nu Holdings - September 2026
“The portfolio added several names in the financials sector, including NU Holdings, Citigroup and Wells Fargo.”
Nu Holdings - September 2026
“Nu Holdings was eliminated after a period of outperformance as it saw higher expenses and a decelerating rate of loan growth.”
Nu Holdings - September 2026
“We also added to our existing positions in TSMC , Samsung Electronics , Tencent Holdings , and Mitsubishi Heavy Industries , while trimming Nu Holdings , Rheinmetall , Tokyo Electron, ASML , and SAP.”
Nu Holdings - September 2026
“We added to several of our existing positions during the quarter, including Divi's Laboratories Limited, Prio S.A., Astra Microwave Products Limited, Vista Energy, S.A.B. de C.V., Godrej Properties Limited, HD Hyundai Marine Solution Co., Ltd., Ceres Power Holdings plc, Nu Holdings Ltd., and China Mengniu Dairy Company Limited.”
Nu Holdings - AddedFairtree Asset Management Global Equity FundSeptember 2026
“Notable portfolio activity during the quarter was focused on adding to high-conviction technology and AI positions, while broadening the portfolio outside technology. On the buy side, the largest addition was to SK Hynix, as the Fund rotated its memory exposure out of Micron Technology, alongside top-ups to Alphabet, Broadcom and Nvidia. The Fund initiated new positions in Applied Materials, adding exposure to wafer fabrication equipment as chipmakers expand capacity for AI, and Siemens Energy, a beneficiary of rising investment in power generation and grid infrastructure. Outside technology, the Fund opened new positions in British American Tobacco, Goldman Sachs and AstraZeneca, and topped up Nu Holdings.”
Nu Holdings - New positionLiontrust GF Global Alpha FundJuly 2026
“Portfolio changes The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo.”
Nu Holdings - New positionLiontrust Global Alpha FundJuly 2026
“Portfolio changes The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo. Financials look set to benefit from the ‘stronger for longer’ theme”
Nu Holdings - AddedVision Capital FundJune 2026
“We had strong inflows in early Q2 from our largest investors (us included) seeking to take advantage of buying opportunities. We deployed some of that new capital to 10 of our existing positions (in alphabetical order): Cloudflare (NET), MercadoLibre (MELI), Meta (META), Nu (NU), Palantir (PLTR), Pro Medicus (PME), Sea Limited (SE), ServiceNow (NOW), Shopify (SHOP), and Zscaler (ZS).”
Nu Holdings - HoldsACATIS InvestmentJune 2026
“In May, the fund delivered a +1.0% return in a divided market environment: while the AI supercycle boosted the technology sector, interest rate pressure and macroeconomic uncertainties weighed on defensive sectors. The biggest winners were ASML (+13.3%), Microsoft (+11.0%) and Salesforce (+8.8%), all of which benefited from strong AI-driven demand. The good performance of software stocks in particular shows that there is still potential for a revaluation. Zoetis (-32.1%) recorded the sharpest decline, where regulatory concerns about side effects of high-selling osteoarthritis drugs and subdued demand dynamics signi- ficantly shook investor confidence. Nu Holdings (-8.8%) and Pepsi Co (-8.5%) suffered from interest rate pressure and margin problems respectively.”
Nu Holdings - June 2026
“Nu Holdings (-8.8%) and Pepsi Co (-8.5%) suffered from interest rate pressure and margin problems respectively.”
Nu Holdings - June 2026
Listed in Coronation Global Managed Strategy’s reported holdings.
Nu Holdings - June 2026
“Nu Holdings, a top 5 position in the portfolio for the last three years, is a leading digital financial services platform in Latin America.”
Nu Holdings - June 2026
“We added to several of our existing positions during the quarter, including JSW Energy Limited , Grupo Mexico, S.A.B. de C.V. , SK hynix Inc. , Alibaba Group Holding Limited , Nu Holdings Ltd. , Power Grid Corporation of India Limited , Contemporary Amperex Technology Co., Limited , d'Alba Global Co., Ltd. , and Pony AI Inc.”
Nu Holdings - June 2026
“A similar line of thinking could apply to other core investments including Tencent, MercadoLibre, Nubank, Grab, Adyen, MakeMyTrip, Eternal, and Paytm, all of which have declined (in some cases significantly) YTD.”
Nu Holdings - June 2026
“▪ New positions in Nu Bank and Disco were initiated; positions in Tencent Music, MakeMyTrip, Bank of Central Asia, and Tata Consultancy Services were sold due to forced attrition.”
Nu Holdings - June 2026
“The market’s reaction as an attractive opportunity to increase our position, taking advantage of the pullback in the share price.”
Nu Holdings - June 2026
“Shares of Nu Holdings Ltd. underperformed during the quarter, declining 7.1% following a weaker-than-expected 1Q26 earnings release. Provisions exceeded expectations by 37%, resulting in a 7% earnings miss and raising investor concerns about the near- term outlook for credit costs and profitability. The unexpected departure of the CFO also weighed on sentiment. Concerns were further compounded by management’s ambitions in the U.S., where the competitive landscape is materially more mature and the long-term returns on incremental investment remain less certain. That said, the CEO subsequently outlined a more measured approach to U.S. expansion (limiting investment to 1% of revenues over 2026-2027) and capital deployment, which provided us with greater comfort regarding execution and resource allocation. We viewed the market’s reaction as an attractive opportunity to increase our position, taking advantage of the pullback in the share price.”
Nu Holdings - June 2026
“We added to several of our existing positions during the quarter, including JSW Energy Limited, Grupo Mexico, S.A.B. de C.V., SK hynix Inc., Alibaba Group Holding Limited, Nu Holdings Ltd., Power Grid Corporation of India Limited, Contemporary Amperex Technology Co., Limited, d'Alba Global Co., Ltd., and Pony AI Inc.”
Nu Holdings - June 2026
Listed in Coronation Global Emerging Markets Equity Strategy’s reported holdings.
Nu Holdings - June 2026
Listed in Coronation Global Equity Strategy’s reported holdings.
Nu Holdings - AddedSquadra Investimentos Long-Biased and Long-Only FundsJune 2026
“Although with some occasional spasms, several Brazilian companies of good quality have traded at low valuations since mid-2022. This context, in general, remains present and allows us to find especially promising prospective returns in our long portfolio. Relative to last year's portfolio, the main change was the construction of relevant investments in two companies with exceptional competitive advantages and skilled management teams: Mercado Livre and Nubank.”
Nu Holdings - HoldsWhite Falcon CapitalMarch 2026
“The top 5 positions in the portfolio are Precious Metals royalty companies, NFI, Nu Holdings, Unity Software and Amazon.”
Nu Holdings - December 2025
“The memory industry has consolidated into an oligopoly, dominated by three companies, including SK hynix and Samsung.”
Nu Holdings - December 2025
“Nu Holdings operates Nubank, a digital financial services platform that serves over 127 million customers in Latin America.”
Nu Holdings - New positionClearbridge Global Growth StrategyDecember 2025
“In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.”
Nu Holdings - HoldsPolar Capital Emerging Market Stars FundDecember 2025
Listed in Polar Capital Emerging Market Stars Fund’s reported holdings.
Nu Holdings - HoldsAsheville CapitalJune 2025
“We completed the first half of the year with acceptable performance as the portfolio improved by 17% in Q2 and by 23% from our intra-period low on April 7th with all of our holdings’ share prices improving, but with the largest contributions coming from our top three positions, Nu Holdings, Basic-Fit and Wise.”
Nu Holdings - New positionBaron Global Advantage FundJune 2025
“During the quarter, we initiated a position in Nu Holdings Ltd., a leading Latin American digital bank operating in Brazil, Mexico, and Colombia.”
Nu Holdings
Also mentioned · 6
These funds discuss Nu Holdings as a competitor, benchmark or comparable, without disclosing a position in it.
- September 2026
“As intelligence becomes cheaper, we believe value should shift towards companies with strong customer relationships, proprietary data and the infrastructure to put that intelligence to work. Nubank in Latin America is a good example.”
Nu Holdings - MentionedAVI MIGO Opportunities TrustSeptember 2026
“With Starling emerging from the regulatory purdah that had been limiting its growth over the last year or so, and recent sector M&A speculation (Monzo/Nubank, ultimately unfulfilled) serving as a reminder of the business’ strategic value, we think Starling’s valuation has upside from here.”
Nu Holdings - MentionedAVI Worldwide Opportunities FundSeptember 2026
“We believe Starling’s valuation can be justified by reference to its high return-on-equity, while its banking-as-a-service subsidiary, Engine, is on a clear pathway to £100m of annualised recurring revenue. With Starling emerging from the regulatory purdah that had been limiting its growth over the last year or so, and recent sector M&A speculation (Monzo/Nubank, ultimately unfulfilled) serving as a reminder of the business’ strategic value, we think Starling’s valuation has upside from here.”
Nu Holdings - MentionedEagle Equity StrategySeptember 2026
“In Brazil, MELI is the #1 player in ecommerce, Shopee is a strong #2, and Amazon is a distant third. We expect MELI and Shopee to continue to account for most of the market’s growth. In fintech, Nubank is the leader, with MELI a faster -growing #2.”
Nu Holdings - May 2026
“Nubank: A snowball on a long, wet hill 17 ▪ Lowest unit-cost bank – and very high ROE’s & customers LOVE it ▪ Powerful ‘Scale Economy Shared’ model in sleepy banking sector ▪ A perfect SNC.”
Nu Holdings - December 2025
“Nequi also helped Grupo Cibest fend off competition from Brazilian fintech Nubank.”
Nu Holdings
Fund coverage · 10 theses
Nu Holdings is a leading digital financial services platform with a low-cost model, prudent risk management, rapid growth, exceptional profitability, strong management, and attractive long-term compounding potential.
Read the full thesisNubank is gaining share with highly efficient operations and AI-driven underwriting that improves credit access and risk control.
Read the full thesis- Squadra Investimentos Long-Biased and Long-Only FundsJune 2026
Nubank is a high-ROE, fast-growing digital bank with superior credit underwriting, low-cost structural advantage, and valuable optionalities in Mexico and the US that are not reflected in its valuation.
Read the full thesis Nu Holdings is a digital banking platform with structurally lower costs, strong customer engagement, and a long runway for market share gains and growth.
Read the full thesis- Infuse AMDecember 2025
Nu Holdings is evolving into a super app with replicable expansion beyond Brazil, leveraging a lean cost structure and proven lending algorithms to potentially become a global banking leader.
Read the full thesis - White Falcon Capital ManagementDecember 2025
Nu Holdings is a fast-growing, high-ROE, tech-enabled financial services company expanding across Latin America while trading at a reasonable multiple.
Read the full thesis - Sands Capital International GrowthJuly 2025
Nu Holdings is a digital financial services platform, Nubank, that leverages its competitive advantages to disrupt the underbanked Latin American market, targeting customer acquisition and monetization for growth.
Read the full thesis - Baron Global Advantage FundJune 2025
Nu Holdings Ltd. is a rapidly growing digital bank in Latin America, disrupting traditional banking with a tech-first platform, a strong brand, and significant growth potential in underserved markets.
Read the full thesis - Holland AdvisorsJune 2025
Nu Holdings is a disruptive force in consumer banking, leveraging low unit costs and relentless customer focus to offer superior services and challenge traditional banks globally.
Read the full thesis - Polen Emerging Markets GrowthDecember 2024
**Nu Holdings** is the largest online neo-bank globally, with a strong presence in Brazil and Mexico, boasting 100 million and 10 million users respectively, and is expected to deliver attractive revenues and profits in the coming years.
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