Ark Invest Stock Portfolio: Top 5 Picks

In this article, we discuss the top 5 stock picks of ARK Invest. If you want to read our detailed discussion on Cathie Wood, head directly to Ark Invest Stock Portfolio: Top 11 Picks. 

5. Block, Inc. (NYSE:SQ)

ARK Invest’s Stake Value: $714,092,071

Number of Hedge Fund Holders: 64

Block, Inc. (NYSE:SQ) develops solutions to process card transactions, while also offering reporting, data analysis, and next-day fund settlement capabilities. It is one of the top holdings from the Cathie Wood stock portfolio. On August 3, Block, Inc. (NYSE:SQ) reported a Q2 non-GAAP EPS of $0.39 and a revenue of $5.53 billion, outperforming Wall Street estimates by $0.02 and $430 million, respectively. Revenue for the second quarter increased 25.4% on a year-over-year basis. 

In the second quarter of 2022, Cathie Wood increased her stake in Block, Inc. (NYSE:SQ) by 3%, holding 10.72 million shares worth $714 million, representing 4.72% of the total 13F securities. 

According to Insider Monkey’s first quarter database, 64 hedge funds were bullish on Block, Inc. (NYSE:SQ), compared to 70 funds in the prior quarter. Philippe Laffont’s Coatue Management held a prominent stake in the company, comprising 9.8 million shares worth $678.4 million. 

Here is what Baron Fintech Fund has to say about Block, Inc. (NYSE:SQ) in its Q2 2022 investor letter:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to mixed quarterly results with more modest growth in the Seller business offsetting strength in Cash App. While integration of recently acquired Afterpay is progressing well and credit metrics remain healthy, the buy-now-pay-later business slowed due to greater competitive intensity. We continue to own the stock due to Block’s long runway for growth, sustainable competitive advantages, and unique corporate culture.”