The Top Holdings of ARK Investment Management Company in Q1 2021
According to reports, the 13F report submitted by ARK Investment Management Company, a subsidiary of \”Wood Sister\” Cathie Wood, shows that its top five holdings in the first quarte
According to reports, the 13F report submitted by ARK Investment Management Company, a subsidiary of “Wood Sister” Cathie Wood, shows that its top five holdings in the first quarter were Tesla, ROKU, Zoom, Coinbase, and Uibath, with a 17% increase in its holdings in Tesla and an increase of nearly 2.56 million shares in Coinbase. In addition, ARK established positions in 6 stocks such as AMD and Pinterest in the first quarter, and cleared positions in 17 stocks such as NIO Motors and Silvergate; And increase holdings in Block, Rocket Lab, Teladoc Health, and reduce holdings in individual stocks such as Xiaoniu Electric, DraftKings, and NVIDIA.
Mu Jie increased her holdings of nearly 2.56 million shares in Coinbase in the first quarter
As Wall Street and retail investors alike eagerly awaited the filing of the first quarter 13F reports, ARK Investment Management Company, led by renowned investor Cathie Wood, delivered on everyone’s expectations. The firm’s filing reveals that their top holdings in Q1 were Tesla, ROKU, Zoom, Coinbase, and Uibath. Further, they increased their holdings in Tesla by a percentage of 17% and significantly increased their holdings in Coinbase by nearly 2.56 million shares. ARK Management also established positions in six new stocks such as AMD and Pinterest while exiting positions in 17 stocks such as NIO Motors and Silvergate.
Tesla: The Crown Jewel
Tesla was ARK’s largest holding and is undoubtedly the crown jewel of their investment portfolio. ARK has been a vocal proponent of Tesla and its CEO, Elon Musk, and has often predicted explosive growth in the company’s stock price. ARK has also maintained its optimistic outlook on the electric vehicle market overall, which has led the firm to hold significant investments in other electric vehicle makers such as NIO.
ARK Management’s recent 17% overall increase of holdings in Tesla would suggest that they have a bullish outlook on the company’s future prospects. In the 13F filing, Cathie Wood’s ARK Management held over 4.4 million shares of Tesla.
Coinbase Investment
ARK’s devotion to innovation carried over to their investment in Coinbase. The digital currency exchange had a successful listing on NASDAQ on the 14th of April, 2021, and investment management firm bought more shares post-IPO.
ARK Management acquired nearly 2.56 million shares of Coinbase Technologies. The investment was valued at approximately $1.07 billion as of the end of March. ARK Management’s investment in Coinbase appears to be a clear example of the company buying into a leading firm in a growing industry, as the cryptoconomy continues to expand around the world.
ARK’s New Positions
ARK has diversified its portfolio with stakes in various companies other than its existing top holdings. ARK’s new positions in leadership positions include 3D printing pioneer Stratasys and Toronto-based Nuance Communications. ARK also established positions in Pinterest and AMD, among others.
ARK also purchased Rocket Lab shares, a space transportation company, in the first quarter of 2021. The company is a good example of ARK’s emphasis on innovation as it tries to revolutionize space transport.
ARK’s Reduced Positions
ARK appears to have reduced its position in companies that they may have felt overpriced or, for some other reason, did not do as well in the first quarter. The company sold its shares of several fashion brands, including Canadian-based Lululemon and online fashion retailer Farfetch.
ARK Management sold all of its shares in EV maker NIO and the US-based Silvergate Capital. The firm also decreased its holdings in Xiaoniu Electric, DraftKings, and NVIDIA.
Conclusion
Despite the challenges that COVID-19 has presented to the financial sector, Catie Wood’s ARK Investment Management has proven to be one of the brightest fund managers in the industry. Their investments in Tesla, Coinbase, and Rocket Lab, among others, demonstrate a commitment to innovation and insight into what they believe to be future growth industries. By leveraging technology advancements, Wood’s firm is pushing forward the future economy.
FAQs
1. What does ARK Investment Management Company invest in besides technology?
ARK Investment Management Company is known for its investments in technology, particularly companies that have the potential for explosive growth in the future.
2. What is ARK Investment Management Company’s top 5 holdings in the first quarter of 2021?
According to their 13F filings, Tesla, ROKU, Zoom, Coinbase, and Uibath were ARK Management’s top five holdings in Q1 2021.
3. What is the significance of the large investment in Coinbase?
ARK Management’s investment in Coinbase underscores their commitment to digital currencies and the emerging crypto economy. As Coinbase continues to make news headlines, investors will be watching closely to see how it performs.
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