Ark Invest Stock Portfolio: 5 Biggest Positions

In this article, we discuss the 5 biggest positions in the ARK Invest portfolio. If you want to read about some more stocks in the ARK Invest portfolio, go directly to Ark Invest Stock Portfolio: 16 Biggest Positions.

5. Zoom Video Communications, Inc. (NASDAQ:ZM)

Cathie Wood & Ark Invest’s Q3 2023 Investment: $712.19 million

Number of Hedge Fund Investors: 30

Zoom Video Communications, Inc. (NASDAQ:ZM) is a communications technology company headquartered in San Jose, California. After experiencing rapid growth during the pandemic, where it became a household name during lockdowns, Zoom Video Communications, Inc. (NASDAQ:ZM) is now concentrating on introducing several essential features for businesses. These include word processing capabilities and an increased utilization of artificial intelligence to enhance its flagship video conferencing service.

Zoom Video Communications, Inc. (NASDAQ:ZM) reported stellar quarterly revenue, surpassing expectations due to strong sales in the enterprise sector. The results underscore the company’s resilience in the competitive business collaboration software market. With a notable 3.2% increase in fiscal third-quarter sales, Zoom Video Communications, Inc. (NASDAQ:ZM) reached approximately $1.14 billion, exceeding the predicted $1.12 billion. Moreover, Zoom’s EPS stood at $1.29, a significant improvement over the consensus estimate of $1.08. The quarter also saw a robust 7.5% increase in enterprise revenue, reaching a substantial $660.60 million.

During this year’s June quarter, 30 out of the 910 hedge funds researched by Insider Monkey had bought the firm’s shares. Zoom Video Communications, Inc. (NASDAQ:ZM)’s biggest hedge fund investor in the same quarter was Catherine Wood’s ARK Investment Management due to its $712.19 million investment.