Popular stockpicker Cathie Wood-led Ark Investment Management’s top ten key bets — spread across clean energy, innovation, tech, healthcare, and space sectors that constitute nearly half of its investments are not faring well in 2022 — as the first quarter nears an end.
Each of the high-flying stocks that are spread across six of Ark Invest’s exchange-traded funds is down in the range of 23% to 55% so far this year.
Despite the dip, the St. Petersburg, Florida-based Ark Invest has stayed the course and has been piling up shares in companies that make up the top ten constituents of its portfolio on every single dip, a closer analysis of the data showed.
Here’s a look at where the top ten investments are at now in 2022.
Tesla Inc TSLA: Wood, famous for making bets on high-growth disruptive firms, continues to count Tesla as its top investment. The Elon Musk-led company’s stock is down 33.7% so far this year at around $800 levels now after trading at $1,200 levels at the beginning of the year.
Ark Invest booked profit in Tesla during the first eight trades of the year before switching to buying shares in the electric vehicle company’s stock again as shares pulled back.
Tesla currently represents a 7.13% weight in Ark Invest’s portfolio and ranks first in terms of weight. The investment firm expects Tesla shares to hit a $3,000 milestone by 2025.
Ark Invest held 1.7 million shares — worth $1.36 billion— in Tesla, prior to Friday’s trade.
The investment firm has also been buying shares in Chinese electric vehicle company Xpeng Inc XPEV.
Teladoc Health Inc TDOC: The telemedicine stock is next in the queue, representing about 5.6% of the weight in the investment firm’s portfolio. Teladoc stock is down 36% year-to-date at $54.6 a share as of Friday’s close.
Ark Invest held 17.7 million shares — worth $967 million— in Teladoc, prior to Friday's trade.
Coinbase Global Inc COIN: Ark Invest has been piling up shares in crypto-related fintech stock Coinbase since its NASDAQ debut last April. The stock is down 36% year-to-date at $160 a share and is trading way below its listing price of $250. Ranked fourth, Coinbase represents 4.9% weight in Ark Invest.
The investment firm held 5.75 million shares — worth $920.5 million— in Coinbase.
Exact Sciences Corp EXAS: Molecular diagnostics startup Exact Sciences is yet another healthcare company in which Ark Invest has been piling up shares. The stock is currently 23% year-to-date at $62.7 a share and ranks fourth with a 4.4% representation of the total weight.
Ark Invest held 13 million — worth $818.8 million—in Exact Sciences, prior to Friday’s trade.
Block, Roku, UiPath: Shares of Block Inc SQ, Roku Inc ROKU and UiPath Inc PATH are down 37.8%, 55.5% and 40.3% year-to-date and the stocks represent 4.3%, 4% and 3.9% weight in Ark Invest’s portfolio, respectively. The stocks currently rank fifth, sixth and seventh positions in terms of weight.
The investment firm held 7.85 million shares —worth $800.7 million, Block, prior to Friday.
It held 7.26 million shares — worth $754.6 million— in Roku.
In UiPath, the investment firm held 11.5 million shares —worth $780.2 million, prior to Friday.
Zoom, Twilio, Unity Software: Zoom Video Communications Inc ZM, Twilio Inc TWLO, and Unity Software Inc U shares are down 46.7%, 49.5% and 43% year-to-date, respectively.
The investment firm held 7.42 million shares —worth $728.5 million — in Zoom. In Twilio, it held 4.47 million shares —worth $593 million. Ark Invest held 7.43 million shares — worth $589 million— in Unity Software.
Together the top ten constituents held a 44.2% weight in Ark Invest’s total portfolio.
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