5 Chinese Stocks in Cathie Wood’s Portfolio

4. Tencent Holdings Limited (OTC:TCEHY)

ARK Investment Management’s Stake Value: $43.69 million

Percentage of ARK Investment Management’s 13F Portfolio: 0.1%

Number of Hedge Fund Holders: 4

Tencent Holdings Limited (OTC:TCEHY) is a Chinese tech giant that operates through its segments: Value-Added Services, FinTech and Business Services, Online Advertising, and Others.

As of the third quarter, ARK Investment Management reported owning 731,000 shares in Tencent Holdings Limited (OTC:TCEHY), valued at $43.69 million which represents 0.1% of the fund’s total portfolio. This is a decrease of 88% in stake over the previous quarter, where the fund held 6 million shares in the company.

On November 2, Barclays analyst Jiong Shao initiated coverage of Tencent Holdings Limited (OTC:TCEHY) with an ‘Overweight’ rating and an $84 price target. Shao assessed that China would continue to attract investment being the second-largest economy in the world, and its aim is to make its homegrown tech companies stronger.