ARK Investment Management's Q4 2023 13F Filing Reveals Strategic Moves
Catherine Wood (Trades, Portfolio), the visionary founder of ARK Investment Management, has recently disclosed her 13F filing for the fourth quarter of 2023. With a career spanning over four decades, Wood has established herself as a leading figure in the investment world, focusing 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 potential of technological advancements such as AI, robotics, and blockchain. Her latest portfolio adjustments offer a glimpse into her strategic thinking in the face of evolving market dynamics.
Summary of New Buys
Catherine Wood (Trades, Portfolio) has expanded her portfolio with new positions in the fourth quarter. Notably, she has made a significant investment in:
- ProShares Bitcoin Strategy ETF (BITO, Financial), purchasing 4,549,207 shares. This addition represents 0.55% of the portfolio, with a total value of $93.21 million.
Key Position Increases
Wood has also bolstered her stakes in several companies, with noteworthy increases in:
- The Trade Desk Inc (TTD, Financial), where she added 1,979,319 shares, bringing the total to 2,149,654 shares. This represents a substantial 1,162.02% increase in share count and a 0.85% impact on the current portfolio, valued at $154.69 million.
- Recursion Pharmaceuticals Inc (RXRX, Financial), with an additional 13,777,689 shares, resulting in a total of 20,654,287 shares. This adjustment marks a 200.36% increase in share count, with a total value of $203.65 million.
Summary of Sold Out Positions
During the quarter, Wood decided to exit several positions entirely, including:
- Grayscale Bitcoin Trust (GBTC, Financial), selling all 5,630,602 shares, which had a -0.83% impact on the portfolio.
- General Motors Co (GM, Financial), liquidating all 293,043 shares, resulting in a -0.07% portfolio impact.
Key Position Reductions
Reductions were also a part of Wood's Q4 strategy, with significant cuts in:
- Coinbase Global Inc (COIN, Financial), reducing her stake by 2,003,881 shares. This led to an 18.9% decrease in shares and a -1.15% impact on the portfolio. COIN's average trading price was $109.2 during the quarter, with a 75.20% return over the past three months and a -25.53% year-to-date performance.
- Tesla Inc (TSLA, Financial), cutting back by 276,132 shares, equating to a -6.77% reduction in shares and a -0.53% impact on the portfolio. TSLA traded at an average price of $237.66 during the quarter, with a -13.74% return over the past three months and a -15.76% year-to-date return.
Portfolio Overview
As of the fourth quarter of 2023, Catherine Wood (Trades, Portfolio)'s portfolio is composed of 221 stocks. The top holdings include 8.86% in Coinbase Global Inc (COIN), 6.39% in UiPath Inc (PATH, Financial), 5.6% in Tesla Inc (TSLA), 5.45% in Block Inc (SQ, Financial), and 5.17% in Roku Inc (ROKU, Financial). The investments are predominantly concentrated in nine industries: Technology, Healthcare, Communication Services, Financial Services, Consumer Cyclical, Industrials, Energy, Consumer Defensive, and Basic Materials.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
