Renowned investor Catherine Wood, founder and CEO of ARK Investment Management, has made significant changes to her investment portfolio in the third quarter of 2023. Wood, known for her focus on disruptive innovation, has adjusted her holdings in line with her forward-thinking approach to investing.
Wood’s investment philosophy centers around identifying and capitalizing on technological advancements, particularly 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 that reflect her continued pursuit of disruptive innovation.
In the third quarter, Wood made notable additions to her portfolio, acquiring 13 new stocks. Some of the key acquisitions include:
– Cameco Corp (NYSE: CCJ): Wood purchased 337,315 shares of this company, representing 0.1% of her portfolio, with a value of $13.37 million.
– AvidXchange Holdings Inc (NASDAQ: AVDX): Wood added 1,007,634 shares of this company, making up approximately 0.07% of her portfolio, totaling $9.55 million.
– Nikon Corp (NINOF): Wood acquired 477,888 shares of this company, accounting for 0.04% of her portfolio, with an investment worth $5.04 million.
Wood also made significant increases in her existing holdings, with the most substantial increases seen in:
– Roblox Corp (NYSE: RBLX): Wood added 2,655,333 shares to bring her total holdings to 11,973,881 shares. This represents a 28.5% increase in share count and a 0.59% impact on her current portfolio, valued at $346.76 million.
– Archer Aviation Inc (NYSE: ACHR): Wood increased her position by adding 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.
In terms of reductions, Wood decided to exit nine holdings entirely in the third quarter, including Codexis Inc (NASDAQ: CDXS) and Iovance Biotherapeutics Inc (NASDAQ: IOVA).
Wood also made notable reductions in her positions in 128 stocks. The most significant reduction was in Tesla Inc (NASDAQ: TSLA), where she cut back by 764,970 shares, resulting in a 15.79% decrease in shares and a 1.33% impact on her portfolio.
Wood’s investment portfolio is primarily concentrated across nine industries, including Technology, Healthcare, Communication Services, Consumer Cyclical, Financial Services, Industrials, Consumer Defensive, Energy, and Basic Materials.
Q: What is Catherine Wood’s investment philosophy?
A: Catherine Wood focuses on identifying and capitalizing on disruptive technological innovations in areas such as DNA sequencing, robotics, AI, energy storage, and blockchain.
Q: What stocks did Catherine Wood add to her portfolio in the third quarter?
A: Some of the key additions to Catherine Wood’s portfolio in the third quarter include Cameco Corp, AvidXchange Holdings Inc, and Nikon Corp.
Q: Which existing holdings did Catherine Wood increase in the third quarter?
A: Catherine Wood significantly increased her positions in Roblox Corp and Archer Aviation Inc.
Q: Which stocks did Catherine Wood exit completely in the third quarter?
A: Catherine Wood decided to exit nine holdings entirely in the third quarter, including Codexis Inc and Iovance Biotherapeutics Inc.
Q: Which stock saw the most significant reduction in Catherine Wood’s portfolio?
A: Tesla Inc experienced the most significant reduction in Catherine Wood’s portfolio, with a decrease of 764,970 shares.