Sometimes there are companies you should take a closer look at before they eventually become household names.

Nu Holdings (NYSE: $NU (+7,45 %) ) definitely falls into this category for me right now.

What exactly is Nu?

Nu Holdings operates Nubank, a digital financial platform, and has become one of Latin America’s largest digital financial service providers. The business model is simple: banking, credit cards, loans, savings products, and other financial services—all digital and without the traditional branch-based banking model.

And now the numbers get interesting.

Q2 2026:

• Revenue: $5.88 billion

• +39% year-over-year

• Net income: $1.06 billion

• +49% year-over-year

• First time exceeding $1 billion in profit in a single

quarter

• ROE: 33%

• 138.9 million customers worldwide

• Approximately 4 million new customers in the last quarter alone

• Loan portfolio: $39.4 billion

• +37% year-over-year

• Deposits: $45.3 billion

• Risk-adjusted NIM: 12.4%

• Efficiency ratio: 19.5%

The key point:

Nu isn’t just growing.

Nu is growing AND earning more and more money in the process.

It’s exactly this combination that makes the company interesting to me.

And then there’s the long-term story:

🇧🇷 Brazil

The home market is already huge. Nearly 118 million customers now come from Brazil alone.

🇲🇽 Mexico

I see this as one of the biggest growth drivers. Nu already has 15.8 million customers in Mexico—in July, it even surpassed the 16 million mark.

🇨🇴 Colombia

Here, too, the 5 million customer mark has now been surpassed.

And the story doesn’t end there.

Nu is working to further expand its offerings in these markets while simultaneously preparing to enter the U.S. market.

So what’s exciting isn’t just today’s business.

It’s the potential growth over the next 5–10 years.

139 million customers today.

What happens if Nu eventually reaches 200 million or even 250 million customers and, at the same time, sells more financial products per customer?

That’s exactly where I see the real leverage.

BUT:

I wouldn’t consider NU a “safe bank stock.”

The lending business is a key component of the business model. The loan portfolio is growing very rapidly at 37%, so default rates must be monitored closely.

That, to me, is currently the biggest risk.

Nevertheless:

33% ROE

49% profit growth

39% revenue growth

139 million customers

These aren’t just promises for the future.

These are figures that have already been achieved.

For me, Nu is therefore less of a traditional bank and more of a mix of FINTECH + BANK + GROWTH PLATFORM.

And that’s exactly why the stock is on my watchlist.

Not because of hype.

But because of the question:

What could this company become if it can sustain this growth for another 5–10 years?

I’ll definitely keep an eye on NU.

What do you think of Nu Holdings?

Already invested, or have you completely overlooked it so far?

#NuHoldings
#NU
#Nubank
#Aktien
#Aktienanalyse
#Wachstumsaktien
#Fintech
#Investment
#Börse
#DividendenDepot

📊 The $NU (+7,45 %)

Key Figures at a Glance (vs. Expectations):

• 💰 Revenue:
  $5.88 billion
  (vs. ~$5.40 billion expected) 📈 +55% YoY
• 💵 Net income:
  $1.06 billion
  (vs. ~$940 million expected) ➡️ For the first time in the company’s history, quarterly profit has surpassed the $1 billion mark!
• 🎯 Return on Equity (ROE): An impressive 33%
• 👥 Customer base:
  138.9 million users (Growth in Brazil, Mexico, and Colombia is in full swing)

💡 Why this matters:

After Q1 fell slightly short of expectations due to a slight increase in costs and provisions, there were some skeptics regarding margins and credit quality. David Vélez and his team have proven just how extremely scalable this business model is. The combination of explosive new-customer growth and rapidly rising monetization per customer is fully reflected in the bottom line.

📌 My conclusion: For me, this is one of the most exciting and profitable growth stocks in the global fintech sector. If the expansion in Mexico and Colombia continues to scale at the same rate as in Brazil, there’s still plenty of upside potential here.

👇 What’s your take on $NU? Have you bought into the stock, or are you sitting on the sidelines?

$NU (+7,45 %) The company exceeded analysts' estimates and posted a new record profit.

📌 An overview of the newly reported Q2 figures

• Customer growth: Nubank has broken yet another record and now has over 139 million customers across all platforms in Latin America (a net increase of approximately 4 million users compared to the previous quarter).
• Revenue: Quarterly revenue rose sharply on a currency-adjusted basis, reaching $5.48 billion , hitting the upper end of market expectations (forecasts ranged from $5.39 billion to $5.45 billion).
• Net Income (Profit): Net income continued to rise compared to the previous quarter (USD 871 million). Adjusted earnings per share (EPS) came in exactly at $0.20, thereby finally making up for the disappointment of Q1.
• Margins & Risk: There was some relief on the credit front. The feared massive increase in loan loss provisions in Mexico and Colombia did not materialize. The efficiency ratio stabilized near its all-time high.

On July 1, the second rebalancing of my Wikifolio took place—a rule-based portfolio with 30 equally weighted positions that has been running since March 13. Nine positions out, nine in. I had expected this to shift the structure. When I checked the numbers, almost everything was the same as before.

A quick note on how it works

A Python scanner evaluates approximately 845 stocks from 14 indices daily based on six factors. Those that make it into the top 25 are purchased. Those that fall below rank 40 are removed. Quarterly adjustments, no sector allocation, no discretion.

What was dropped:

• 4 tech stocks: Applied Materials $AMAT (-1,49 %) (+92%), KLA-Tencor $KLAC (-3,56 %) (+90%), Broadcom $AVGO (-6,51 %) , Amphenol $APH (+0,58 %). Not because of earnings, but because the valuation could no longer keep up with the share price and the stock’s ranking plummeted.

• 5x Finance: ING $ING (-0,64 %), Jyske Bank $JYSK (+0,14 %), Unicaja $UNI (+0,89 %), Baader Bank $BWB (-0,89 %), Nu Holdings $NU (+7,45 %).

New additions:

• ASML $ASML (-0,98 %), Alphabet $GOOG (-0,23 %), SanDisk $SNDK (+5,95 %), Investor AB $INVE B (-1,25 %), BBVA $BBVA (-0,16 %), UniCredit $UCG (-0,4 %), Monte dei Paschi $BMPS (+1,18 %), Banca Mediolanum $BMED (+0,68 %), Swedbank $SWED A (-0,03 %).

The interesting part

Micron $MU (+0,63 %) stayed in the portfolio, up over 100 percent. The score held, and the ranking remained higher. A system that sells based on profit would have kicked Micron out first. The model treated these three big winners completely differently because it doesn’t know the purchase price at all.

And on the other hand:

SanDisk $SNDK (+5,95 %) was added that same evening, at 1,820 euros. The stock had already been on the buy list in April but wasn’t tradable at the time. Today, the position is down about 50 percent. The timing could hardly have been worse.

The sector breakdown before and after

Technology fell from 30 to 23.3 percent, financials rose from 36.7 to 40. Materials remained at 16.7.

A factor model does not distinguish between sectors. It sorts by score, and stocks in the same sector often receive similar scores because they are influenced by the same drivers. If one falls below rank 40, there is a high probability that another from the same sector is ready to take its place in the top 25. The model captures gains and returns to the same sector, just with different names.

My Conclusion

One quarter doesn’t prove anything. I don’t have a sector cap in the model because my backtest doesn’t have one either.

Next rebalancing: October 1.

Who among you uses a rule-based approach and has a sector cap in place?

I’m curious to know what percentage cap you use.

July was a month of contrasts. The Nasdaq slipped into its second correction of 2026, triggered by a sharp sell-off in semiconductor stocks—memory chip manufacturers and chip equipment suppliers saw losses, in some cases in the double digits, and even strong quarterly results were no longer enough to prop up share prices. The DAX, on the other hand, hit new record highs during the same period, driven by software stocks and a rebound at Rheinmetall. At the same time, a significant amount of capital rotated out of AI and chip stocks and into Chinese tech and electric vehicle stocks, which staged a strong comeback after months of decline.

My portfolio benefited from this rotation and is back in the black:

📊 Monthly performance: +1.02%

📊 Portfolio value: ~€44,139

📊 Peak performance (Jan. 6, 2022): +43%

📊 YTD performance: ~+14.09%

Performance & Comparison 🚀

July demonstrated how differently the indices could perform depending on their composition. While the Nasdaq suffered from the chip sell-off, the DAX benefited from its lower concentration of semiconductor stocks and the Rheinmetall recovery. My portfolio tracked the DAX more closely than the Nasdaq and ended the month in positive territory.

Performance Comparison (July 1–July 31, 2026, end of day):

My portfolio: +1.02%

DAX: +2.57%

S&P 500: -1.25%

FTSE All-World: -1.47%

NASDAQ 100: -6.97%

Purchases, Sales & Allocation 💶

In July, I reduced my cash position. The Xtrackers II EUR Overnight Rate Swap ETF, which I had been using to park liquidity, was sold in three tranches: €301.00 on July 17, and €232.13 each on July 28 and July 29—totaling approximately €765. The freed-up funds were immediately allocated to three positions: BE Semiconductor Ind. $BESI (-0,95 %) I increased my position in two steps: €150.00 on July 17 and €230.00 on July 29. For Solaria $SLR (+0,85 %) , I added another €150.00 on July 17, and for Hermès $RMS (-1,11 %) on July 28. In doing so, I deliberately reallocated cash into stocks rather than injecting new capital.

Additionally, on July 30, I invested €454.36 in my own Wikifolio certificate $DE000LS9V052 (+0,05 %) —a private position separate from the rest of my portfolio.

Top Movers in July 🟢

The month clearly belonged to stocks that benefited from the rotation out of U.S. tech.

BYD posted the strongest gain at +27.08% (+€305.27). The stock received a double boost: capital flowed from AI and chip stocks into Chinese electric vehicle stocks, and BYD also reported $1211 (+0,05 %) reported a nearly 22% jump in sales for July and more than a doubling of overseas deliveries. Alibaba $BABA (+0,94 %) followed suit with a gain of +25.33% (+€149.06)—part of the same China-led rally that also swept up Tencent and Xiaomi. Snowflake $SNOW (-3,22 %) rose by +17.46% (+€155.91) and Cloudflare $NET (-4,84 %) by +15.62% (+344.80 €), the largest euro gain in the portfolio—both software stocks fared significantly better than hardware and chips in the rotation. Rheinmetall $RHM (+2,7 %) rebounded by +15.09% (+€186.59) from its 52-week low following the frigate shock in June, supported by full order books and rising defense budgets in Europe. Nubank $NU (+7,45 %) rounded out the list with a gain of +9.49% (+€97.49)—here, too, the rotation away from U.S. tech toward other regions played a role.

July’s Big Losers 🔴

On the other hand, the list consisted almost exclusively of stocks that were directly or indirectly hit by the chip sell-off.

Tempus AI $TEM (-4,42 %) suffered the biggest loss at -25.08% (-€55.74)—AI-related stocks came under particular pressure during the broad sell-off. IREN $IREN (-2,93 %) fell by -20.39% (-€179.15) and has remained weak since the price slump in early summer, still weighed down by the combination of Bitcoin weakness and skepticism regarding its transition to an AI cloud provider. BE Semiconductor Ind. $BESI (-0,95 %) fell by -18.77% (-€169.56), directly impacted by the global sell-off among chip equipment manufacturers. TSMC $TSM (-1,4 %) lost -15.04% (-€80.55)—despite a strong quarter, the stock was swept up in the general semiconductor correction. Hermès $RMS (-1,11 %) dropped -10.27% (-24.26 €), with luxury goods following the downward trend of weaker growth stocks. Solaria $SLR (+0,85 %) rounded out the list with a -9.50% (-€46.19) decline—solar and renewable energy stocks remain under pressure.

Conclusion 💡

July showed just how quickly capital flows can shift. While the chip sector underwent one of the sharpest corrections of the year, Chinese tech and electric vehicle stocks found their bottom. For my portfolio, this was a good example of why broad diversification across sectors and regions makes all the difference.

❓ Question for the Community

That was my month in numbers—how did the July chip sell-off affect you? Did you rotate into Chinese stocks, or are you holding onto your U.S. tech positions?

👇 Let us know in the comments!

➡️ Follow @codeandcapital26 for transparent portfolio updates!

🗞️ Newsletter: codeandcapitalquant.beehiiv.com

📈 Wikifolio: https://www.wikifolio.com/de/de/w/wf0gquant6

I'd also like to send warm greetings from my vacation in Sardinia ☀️🏝️

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$992 (-3,1 %)
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$AMAT (-1,49 %)
$NU (+7,45 %)

I added to my position again today $NU (+7,45 %) I added to my position. I still see a lot of long-term growth here. Are you invested too?

Have a great evening, everyone!

Hello, community,

I could really use some help from the smart folks in the community.

I’d like to downsize my portfolio, but unfortunately, I’m really having a hard time choosing—and I’m wondering if I should sell a few shares of some tech stocks and use the cash to further increase my holdings in the ones I already own.

After much thought, these 6 candidates are on my shortlist:

$3350 (+0,29 %) Metaplanet (it was pure FOMO), but also the smallest speculative position

$SNPS (+0,83 %)

$UNH (+0,26 %)

$MSFT (-0,54 %)

$GRAB (-2,25 %)

$NU (+7,45 %)

What do you think of my selection, or which stocks would you have chosen instead?

I’d love to hear lots of opinions.

Best regards