NU
LONGINSIDER SELLNU HLDGS LTD
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NegativeNu Holdings delivered record Q1 2026 revenue ($5B+) and net income growth (56% YoY) with expanding geographic footprint (135M customers, Mexico break-even achieved), but margins contracted 760bps to 19.2% amid aggressive credit expansion and credit quality deteriorated materially with NPL ratios rising and provisions up 33% QoQ. Multiple major analysts downgraded the stock citing unsustainable growth funded primarily through credit expansion rather than operational leverage.
Red flags
- •EPS missed consensus by 10% ($0.18 vs $0.20 forecast)
- •Operating margins collapsed 760 basis points to 19.2%
- •Risk-adjusted net interest margin fell 100bps sequentially to 9.5%
- •Credit loss allowance surged 33% QoQ to $1.79B
- •15-to-90-day NPL ratio deteriorated to 5.0% from 4.1% at year-end
- •Stock fell 9% in after-hours trading post-earnings
- •Five major analyst downgrades including BofA (Sell), Susquehanna, Citi, Scotiabank citing margin compression and credit-driven growth sustainability concerns
- •CFO transition effective July 2026 creating near-term leadership uncertainty
- •U.S. expansion requires significant capital deployment (12-18 month timeline) with efficiency ratio constraints
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Lone Pine Capital | Steve Mandel | 38.0M | +8.4M | $546M | 4.4% | +28% | Existing |
| D1 Capital | Dan Sundheim | 25.9M | +25.9M | $372M | 3.3% | — | NEW |
| Maverick Capital | Lee Ainslie | 22.4M | +10.7M | $323M | 3.8% | +92% | Existing |
| Point72 | Steve Cohen | 1.7M | +1.7M | $25M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where NU ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #5 of this fund's book
- 2AMAZON COM INC$483M
- 3TAIWAN SEMICONDUCTOR MANUFAC$418M
- 4ASML HLDG NV$341M
- 5NU HLDGS LTD$323M
- 6APPLIED MATLS INC$297M
- 7MICROSOFT CORP$269M
- 8RTX CORPORATION$263M
position #9 of this fund's book
- 6US FOODS HLDG CORP$395M
- 7CLEAN HARBORS INC$384M
- 8AMAZON COM INC$376M
- 9NU HLDGS LTD$372M
- 10THERMO FISHER SCIENTIFIC INC$356M
- 11SOMNIGROUP INTERNATIONAL INC$347M
- 12TEXAS INSTRS INC$340M
position #9 of this fund's book
- 6TALEN ENERGY CORP$580M
- 7TERADYNE INC$555M
- 8CARVANA CO$552M
- 9NU HLDGS LTD$546M
- 10MEDLINE INC$525M
- 11CORNING INC$506M
- 12CLEAN HARBORS INC$503M
Values are quarter-end position sizes. Shown only for funds where NU ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 4 | 4.85 | +4.2% |
| Q1 2026 | LONG | 4 | 6.02 | -13.7% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Sands Anita M | — | SELL | 21K | $12.24 | $0.26M | 2026-05-15 | ↗ |