Cathie Wood Adjusts Portfolio, Trims Tesla Stake

GuruFocus.com2023-11-15

SummaryFund trims Tesla holding.ARK Investment Management's Latest 13F Filing Highlights Key Stock MovementsRenowned for her focus on disruptive innovation, Catherine Wood, the founder and CEO of ARK ...

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MIe
2023-11-15
MIe
Bull upside with fed rate cuts 2024
neo26000
2023-11-15
neo26000
It says holdings as of end Sept. Not sure how useful it can be.

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Wood's investment philosophy centers on identifying and capitalizing on technological advancements in areas such as DNA sequencing, robotics, AI, energy storage, and blockchain. As the chief investment officer and portfolio manager at ARK, Wood's latest 13F filing reveals strategic adjustments, reflecting her forward-thinking approach to investing.New Additions to the ARK PortfolioCatherine Wood's ARK Investment Management has expanded its portfolio with the addition of 13 new stocks. Key acquisitions include:Cameco Corp, purchasing 337,315 shares, which now represent 0.1% of the portfolio, valued at $13.37 million.AvidXchange Holdings Inc, with 1,007,634 shares, making up approximately 0.07% of the portfolio, totaling $9.55 million.Nikon Corp, acquiring 477,888 shares, accounting for 0.04% of the portfolio, with an investment worth $5.04 million.Significant Increases in Existing HoldingsWood has also bolstered her stakes in several companies, with the most substantial increases seen in:Roblox Corp, adding 2,655,333 shares, bringing the total to 11,973,881 shares. This represents a 28.5% increase in share count and a 0.59% impact on the current portfolio, valued at $346.76 million.Archer Aviation Inc, with an additional 14,625,655 shares, resulting in a total of 23,790,372 shares. This adjustment marks a 159.59% increase in share count, with a total value of $120.38 million.Exiting PositionsIn the third quarter of 2023, Catherine Wood decided to exit nine holdings entirely, including:Codexis Inc, selling all 4,124,339 shares, which had a -0.08% impact on the portfolio.Iovance Biotherapeutics Inc, liquidating 775,787 shares, resulting in a -0.04% portfolio impact.Noteworthy ReductionsARK Investment Management has also reduced its positions in 128 stocks. The most significant reductions include:Tesla Inc, cutting back by 764,970 shares, leading to a -15.79% decrease in shares and a -1.33% impact on the portfolio. Tesla's stock traded at an average price of $256.88 during the quarter, with a -0.98% return over the past three months and a 92.73% year-to-date return.Shopify Inc, reducing the stake by 1,919,646 shares, which equates to a -21.63% reduction in shares and a -0.82% impact on the portfolio. Shopify's stock had an average trading price of $60.59 during the quarter, with a 17.04% return over the past three months and an 88.76% year-to-date return.Portfolio Overview and Sector AllocationAs of the third quarter of 2023, Catherine Wood's portfolio comprises 225 stocks. The top holdings include 7.81% in Tesla Inc, 6.2% in UiPath Inc, 6.09% in Coinbase Global Inc, 5.64% in Roku Inc, and 5.45% in Zoom Video Communications Inc. The investments are primarily concentrated across nine industries, including Technology, Healthcare, Communication Services, Consumer Cyclical, Financial Services, Industrials, Consumer Defensive, Energy, and Basic Materials.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":241720986988792,"gmtCreate":1700051117348,"gmtModify":1700051122604,"author":{"id":"3577182936341023","authorId":"3577182936341023","name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":0,"idStr":"3577182936341023","authorIdStr":"3577182936341023"},"htmlText":"Bull upside with fed rate cuts 2024","listText":"Bull upside with fed rate cuts 2024","text":"Bull upside with fed rate cuts 2024","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/241720986988792","repostId":2383006443,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":241630159843400,"gmtCreate":1700020139279,"gmtModify":1700020144206,"author":{"id":"4131703342800552","authorId":"4131703342800552","name":"neo26000","avatar":"https://community-static.tradeup.com/news/11d50ec0d6202770a8629aa7f06a5d4f","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":9,"crmLevelSwitch":1,"idStr":"4131703342800552","authorIdStr":"4131703342800552"},"htmlText":"It says holdings as of end Sept. Not sure how useful it can be.","listText":"It says holdings as of end Sept. Not sure how useful it can be.","text":"It says holdings as of end Sept. Not sure how useful it can be.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/241630159843400","repostId":2383006443,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":14,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2383006443"}