Building a position in $NU (+0,45%) ahead of tonight's Q2'26 print — a quality call, not momentum.
The market's pricing it like a fragile growth story (down ~20% YTD) after the Q1 miss, but this is still the dominant digital bank in LatAm: 135M+ customers, ~30% of Brazilian adults, early-innings expansion in Mexico and Colombia, and under 7% of Brazil's gross profit opportunity captured. What reads as "slowing momentum" looks more like disruption doing its normal work — ROE above 25%, revenue growth near 45% YoY, forward P/E in the mid-teens.
This entry also diversifies my growth exposure away from concentrated US names into LatAm and also Fintech.
Watching efficiency ratio and credit quality tonight.
