Tracking Cathie Wood's ARK Invest 13F Portfolio - Q3 2024 Update

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ARK Invest's 13F portfolio value decreased from $11.27B to $10.93B this quarter.They reduced several of their large positions during the quarter.The top three positions are Tesla, Roku, and Coinbase ...

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It is based on their regulatory 13F Form filed on 10/31/2024. ARK Invest was founded by Cathie Wood in 2014. They manage several actively managed ETFs, index ETFs, and certain other international products. Assets under Management (AuM) has come down from over $50B at the peak to ~$11.5B now. They invest in what they term \"disruptive innovation\". The actively managed ETFs are ARK Innovation ETF (NYSEARCA:ARKK), ARK Autonomous Tech & Robotics ETF (BATS:ARKQ), ARK Next Generation Internet ETF (NYSEARCA:ARKW), ARK Genomic Revolution ETF (BATS:ARKG), ARK Fintech Innovation ETF (NYSEARCA:ARKF), ARK Space Exploration & Innovation ETF (BATS:ARKX), and ARK 21Shares Bitcoin ETF (ARKB). This quarter, ARK Invest' 13F portfolio value decreased ~3% from ~$11.27B to ~$10.93B. The number of holdings increased from 190 to 195. There are 32 securities that are significantly large, and they are the focus of this article. The top three holdings are at ~24% while the top five are at ~33% of the 13F assets: Tesla, Roku, Coinbase Global, Roblox, and Block. Please visit our previous update for the fund's moves during Q2 2024. Note 1: Unlike other investment management businesses, ARK is pioneering an open source model of investment research through a couple of initiatives: a) Valuation models on businesses are being made available to the public through GitHub, and b) daily trades are available to anyone who signs up for it. The open source model along with the outlandish forecasts has attracted criticism as well: in April 2022, RIA lawyers urged SEC enforcement action. Note 2: The 13F data on which this article is based is as of 09/30/2024. Updated daily holdings data for each of their ETFs are publicly available. Note 3: Although as a percentage of the overall portfolio the positions are very small, it is significant that they have sizable ownership stakes in the following businesses: 908 Devices (MASS), Accolade (ACCD), Adaptive Biotech (ADPT), Arcturus Therapeutics (ARCT), Blade Air Mobility (BLDE), Butterfly Network (BFLY), Cerus Corp. (CERS), Markforged (MKFG), Nextdoor Holdings (KIND), Nurix Therapeutics (NRIX), Pacific Biosciences (PACB), Personalis (PSNL), Quantum-Si (QSI), and Repare Therapeutics (RPTX). Stake Increases: Intellia Therapeutics (NTLA): NTLA was a minutely small position in ARK's first 13F filing in 2016. The 2017-2020 time period saw the position built to a ~11.2M share position at prices between ~$12.50 and ~$62. Since then, the stake has wavered. The first three quarters of 2021 saw a ~40% selling at prices between ~$52 and ~$177 while the next four quarters saw a similar increase at prices between ~$38 and ~$138. Q4 2023 saw a ~15% increase at prices between $23.16 and $32.34. This quarter also saw a ~6% stake increase. The stock currently trades at $14.22, and the stake is at 2.30% of the portfolio. Note: they have a ~14% ownership stake in Intellia Therapeutics. Tempus AI (TEM): TEM had an IPO in June. Shares started trading at ~$40 and currently goes for $44.62. The position was primarily built this quarter at prices between $30.88 and $71.47. The stake is relatively small at 1.23% of the portfolio. Advanced Micro Devices (AMD): The small 1.18% AMD stake was built this quarter at prices between ~$129 and ~$184. The stock currently trades at ~$144. 10x Genomics (TXG), Moderna, Inc. (MRNA), Pinterest, Inc. (PINS), and Recursion Pharma (RXRX): These positions (less than ~2.25% of the portfolio each) were increased during the quarter. Note: They have significant ownership stakes in the following businesses: Recursion Pharma and 10X Genomics. Stake Decreases: Tesla, Inc. (TSLA): TSLA is currently the largest 13F position at ~11% of the portfolio. It was already a small position in their first 13F filing in 2016. Recent activity follows. Q1 2021 saw a ~40% stake increase at prices between ~$199 and ~$293. The six quarters through Q3 2022 had seen the position reduced by ~80% at prices between ~$217 and ~$407. The two quarters through Q1 2023 saw a ~30% stake increase while in the next two quarters there was a similar reduction. Q4 2023 saw a ~7% trimming at prices between ~$197 and ~$264 while in the next quarter there was a ~36% increase at prices between ~$163 and ~$248. This quarter saw a ~14% selling at prices between ~$192 and ~$263. The stock currently trades at ~$250. Roku (ROKU): ROKU is a large (top three) 7.66% of the portfolio position built in the 2019-20 period at prices between ~$33 and ~$357. The four quarters through Q3 2022 saw another ~150% stake increase at prices between ~$56 and ~$345. The stake was decreased by 13% during Q3 2023 at prices between $61.60 and $97.49. Q4 2023 saw a ~8% selling at prices between ~$56 and ~$107. The position was increased by 32% in the next quarter at prices between $62.67 and $98.57. This quarter saw a ~12% trimming at prices between $51.67 and $77.45. The stock is now at $64.08. Note: they have a ~8.5% ownership stake in Roku. Coinbase Global (COIN): COIN had an IPO in April 2021. Shares started trading at ~$290 and currently go for ~$179. The position was built during Q2 & Q3 2021 at prices between ~$225 and ~$342. Q4 2021 saw a ~22% trimming at prices between ~$231 and ~$343 while the next two quarters saw a two-thirds stake increase at prices between ~$49 and ~$252. The two quarters through Q1 2023 saw another ~55% stake increase at prices between ~$32 and ~$82. The stake was decreased by 13% during Q3 2023 at prices between ~$71 and ~$110. That was followed by a ~19% reduction during the next quarter at prices between ~$71 and ~$186. Q1 2024 saw a further ~50% selling at prices between ~$117 and ~$280. That was followed by a ~20% reduction during the last quarter at prices between ~$199 and ~$263. This quarter also saw a ~9% trimming. The stake is still a top three position at 5.28% of the portfolio. Roblox Corp (RBLX): The 4.79% RBLX position was built during the four quarters through Q3 2022 at prices between ~$23 and ~$135. There was a ~10% stake increase in H1 2023. That was followed by a ~28% increase during Q3 2023 at prices between $25.31 and $45.54. The last quarter saw a ~13% stake increase at prices between $30.42 and $40.54. This quarter saw a similar reduction at prices between $36.18 and $47.64. The stock currently trades at $51.72. Block, Inc. (SQ): SQ was a small stake in the portfolio in their first 13F filing in 2016. The position was built during the 2018-20 period at prices between ~$40 and ~$99. H1 2022 saw a ~45% stake increase at prices between ~$58 and ~$164. There was a ~16% stake increase during Q1 2023 and that was followed with marginal increases in the next two quarters. The position was increased by 9% during Q4 2023 at prices between $39.22 and $79.60. The next quarter saw a 15% selling at prices between $62.57 and $85.72. The last quarter also saw a similar reduction at prices between $61.90 and $81.46. There was another ~20% selling this quarter at prices between $57.21 and $72.07. The stock currently trades at $72.32, and the stake is now at ~4% of the portfolio. Robinhood Markets (HOOD): HOOD had an IPO in August 2021. Shares started trading at ~$55 and currently go for $23.49. The 3.85% of the portfolio position was built through consistent buying over the four quarters through Q2 2022 at prices between ~$7 and ~$55. The stake was decreased by 25% during Q1 2024 at prices between $10.56 and $20.13. The last quarter saw another ~27% selling at prices between $16.23 and $23.70. That was followed by a ~6% trimming this quarter. Palantir Technologies (PLTR): The 3.75% stake in PLTR was established during Q2 2023 at prices between ~$7.40 and ~$16.60 and the stock currently trades well above that range at $41.56. There was a ~38% stake increase during Q3 2023 at prices between $13.96 and $19.99. That was followed by a ~16% increase in the next quarter at prices between $14.69 and $21.34. The last quarter also saw a similar increase at prices between $15.98 and $26.46. This quarter saw a ~15% trimming at prices between $24.09 and $37.95. Shopify (SHOP): The bulk of the current 3.42% position in SHOP was built during the three quarters through Q2 2021 at prices between ~$92 and ~$147. The stake has since wavered. H2 2021 saw a ~40% reduction at prices between ~$135 and ~$169 while the next three quarters saw a stake doubling at prices between ~$27 and ~$136. There was a ~37% reduction during Q2 2023 at prices between ~$45 and ~$66. The stake was decreased by another ~22% in the next quarter at prices between $51.51 and $70.37. Q4 2023 also saw a ~14% selling at prices between $46.40 and $79.11. The stake was decreased by ~24% in the next quarter at prices between $71.82 and $90.72. The last quarter saw a ~8% stake increase, while this quarter there was similar trimming. The stock is now at $78.21. CRISPR Therapeutics AG (CRSP): The bulk of the current 3.22% of the portfolio position in CRSP was built in 2020 at prices between ~$38 and ~$169. The stake has wavered. Q1 2021 saw a ~20% selling, while in Q4 2021 there was a similar increase. There was a ~20% stake increase during Q4 2023 at prices between $38.62 and $72.18. The stock is now at $46.39. The last three quarters saw a ~12% trimming. Note: they have a ~9.5% ownership stake in CRISPR Therapeutics. UiPath Inc. (PATH): PATH had an IPO in April 2021. Shares started trading at ~$72 and currently go for $12.36. The 2.45% of the portfolio position was built in the Q2 to Q3 2021 period at prices between ~$52 and ~$80. The four quarters through Q3 2022 saw the position almost double at prices between ~$12.50 and ~$56. H1 2023 saw a ~10% increase, while Q4 2023 saw a ~8% reduction at prices between $14.94 and $26.26. The stake was decreased by 27% in the next quarter at prices between $21.60 and $26.88. That was followed by another ~30% selling this quarter at prices between $10.75 and $13.24. DraftKings Inc. (DKNG): DKNG came to market through a De-SPAC transaction in Q1 2021. The 2.16% of the portfolio stake was built through consistent buying every quarter at prices up to ~$70. Q2 2023 saw a ~25% selling at prices between ~$18 and ~$27. That was followed by a ~19% reduction during Q3 2023 at prices between $25.23 and $32.38. The stake was decreased by 16% during Q4 2023 at prices between $26.22 and $39. That was followed by a ~30% reduction in the next quarter at prices between $32.21 and $48.68. The last quarter also saw another similar reduction at prices between $35.13 and $47.20. The stock is now at $35.32. There was a minor ~3% trimming this quarter. Beam Therapeutics (BEAM): BEAM is a 1.46% of the portfolio position built over the seven quarters through Q2 2022 at prices between ~$22 and ~$130. There was a ~7% increase during Q4 2023 at prices between $17.69 and $30.76. The stake was decreased by 13% in the next quarter at prices between $23.46 and $45.07. The stock is now at $21.91. The last two quarters saw another ~20% selling. Note: they have a ~7.5% ownership stake in Beam Therapeutics. Unity Software (U): The 1.38% Unity stake was built during the four quarters through Q2 2021 at prices between ~$68 and ~$165. Q4 2021 saw a one-third reduction at prices between ~$126 and ~$197 while in the next three quarters there was a ~45% stake increase at prices between ~$32 and ~$139. That was followed by a ~20% increase during Q4 2023 and Q1 2024 at prices between ~$25 and ~$43. The last quarter saw a similar reduction at prices between $15.53 and $27.08. That was followed by a ~40% selling this quarter at prices between $13.93 and $23.19. The stock is now at ~$20. ARK 21Shares Bitcoin ETF (ARKB), Archer Aviation (ACHR), CareDx, Inc. (CDNA), Kratos Defense & Security (KTOS), Meta Platforms (META), PagerDuty (PD), SoFi Technologies (SOFI), Twist Bioscience (TWST), Trade Desk (TTD), Teradyne, Inc. (TER), Veracyte, Inc. (VCYT), and Zoom Video (ZM): These small (less than ~2.1% of the portfolio each) stakes were reduced during the quarter. Note: they have significant ownership stakes in the following businesses - Archer Aviation, CareDx, Kratos Defense & Security, Twist Bioscience, and Veracyte. The spreadsheet below highlights changes to ARK Invest' 13F holdings in Q3 2024:  Cathie Wood - ARK Invest Portfolio - Q3 2024 13F Report Q/Q Comparison (John Vincent (author))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"analysis","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"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/2480042909"}