Yahoo Finanza Cathie Wood's ARK Makes Bold Moves in Q1 2024, Coinbase Global Inc Sees Major Reduction
ARK Investment Management's Latest 13F Filing Highlights Key Strategic Changes
Cathie Wood, the visionary founder of ARK Investment Management, has once again made headlines with her firm's latest 13F filing for the first quarter of 2024. With over four decades of investment experience, Wood has become synonymous with betting on disruptive innovation. As ARK's chief investment officer and portfolio manager, she has been instrumental in shaping the firm's investment philosophy, which is rooted in the belief that technological advancements in areas like AI, robotics, and blockchain can lead to significant market opportunities. The recent filing reveals Wood's strategic moves in a dynamic market landscape, reflecting her commitment to staying ahead of the curve in identifying growth potential.
Summary of New Buys
Catherine Wood (Trades, Portfolio)'s ARK has welcomed 15 new stocks to its portfolio this quarter. Noteworthy additions include:
The ARK 21Shares Bitcoin ETF Beneficial Interest (ARKB), with 2,909,018 shares, making up 1.43% of the portfolio and valued at $206.48 million.
Standard BioTools Inc (NASDAQ:LAB), holding 13,042,440 shares, which represents 0.24% of the portfolio, with a total value of $35.35 million.
Natera Inc (NASDAQ:NTRA), with 322,384 shares, accounting for 0.2% of the portfolio and a total value of $29.49 million.
Key Position Increases
Wood's ARK has also ramped up its stakes in 62 existing holdings, with the most significant increases seen in:
Tesla Inc (NASDAQ:TSLA), with an additional 1,375,910 shares, bringing the total to 5,178,429 shares. This represents a 36.18% increase in share count and a 1.67% impact on the current portfolio, valued at $910.32 million.
Roku Inc (NASDAQ:ROKU), with an additional 3,027,775 shares, bringing the total to 12,556,647. This adjustment marks a 31.77% increase in share count, with a total value of $818.32 million.
Summary of Sold Out Positions
ARK has completely divested from 8 holdings in the first quarter of 2024, including:
SomaLogic Inc (SLGC), where Wood sold all 14,241,979 shares, impacting the portfolio by -0.21%.
Invitae Corp (NVTAQ), with all 32,550,683 shares liquidated, causing a -0.12% impact on the portfolio.
Key Position Reductions
Wood's ARK reduced its positions in 151 stocks. The most notable reductions include:
Coinbase Global Inc (NASDAQ:COIN), with a reduction of 4,178,670 shares, leading to a -48.59% decrease in shares and a -4.31% impact on the portfolio. The stock traded at an average price of $179.97 during the quarter and has seen an 80.15% return over the past 3 months and a 28.79% year-to-date return.
Twilio Inc (NYSE:TWLO), with a reduction of 6,187,545 shares, resulting in an -86.78% decrease in shares and a -2.78% impact on the portfolio. The stock's average trading price was $65.86 during the quarter, with a -18.70% return over the past 3 months and a -22.29% year-to-date return.
Portfolio Overview
As of the first quarter of 2024, Catherine Wood (Trades, Portfolio)'s portfolio encompasses 231 stocks. The top holdings include 8.12% in Coinbase Global Inc (NASDAQ:COIN), 6.3% in Tesla Inc (NASDAQ:TSLA), 5.89% in Block Inc (NYSE:SQ), 5.67% in Roku Inc (NASDAQ:ROKU), and 4.96% in UiPath Inc (NYSE:PATH). The investments are primarily concentrated across nine industries, including Technology, Healthcare, Communication Services, Financial Services, Consumer Cyclical, Industrials, Energy, Consumer Defensive, and Basic Materials.
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