Ark Invest Stock Portfolio: Top 5 Picks

In this piece, we will take a look at Cathie Wood and Ark Invest’s five latest stock picks. If you want to learn more about Ms. Wood and her hedge fund, then read Ark Invest Stock Portfolio: Top 11 Picks.

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

Cathie Wood & Ark Invest’s Q3 2023 Investment: $712 million

Number of Hedge Fund Investors In Q2 2023: 37

Zoom Video Communications, Inc. (NASDAQ:ZM) is a communications company that provides software products. Even though the stock has cratered from its pandemic era highs, Zoom Video Communications, Inc. (NASDAQ:ZM) has been performing well as of late since it has beaten analyst EPS estimates in all four of its latest quarters.

37 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 research had invested in Zoom Video Communications, Inc. (NASDAQ:ZM). Catherine D. Wood’s ARK Investment Management owned the biggest stake among these, which is worth $710 million.

4. Roku, Inc. (NASDAQ:ROKU)

Cathie Wood & Ark Invest’s Q3 2023 Investment: $736 million

Number of Hedge Fund Investors In Q2 2023: 29

Roku, Inc. (NASDAQ:ROKU) is an entertainment company that provides online entertainment products and services. The third quarter saw Cathie Wood’s Ark Invest reduce its stake in the company by 13% even though Roku, Inc. (NASDAQ:ROKU)’s latest financial results outperformed analyst estimates.

After digging through 910 hedge funds for their June quarter of 2023 shareholdings, Insider Monkey discovered that 29 had bought a stake in the company. During the same time period, Roku, Inc. (NASDAQ:ROKU)’s largest shareholder in our database was ARK Investment Management due to its $764 million investment.

3. Coinbase Global, Inc. (NASDAQ:COIN)

Cathie Wood & Ark Invest’s Q3 2023 Investment: $796 million

Number of Hedge Fund Investors In Q2 2023: 27

Coinbase Global, Inc. (NASDAQ:COIN) is one of the biggest cryptocurrency exchanges in the world. The firm’s shares have soared by nearly 7% during the five days ending on November 10 2023 due to a rise in Bitcoin’s price.

Insider Monkey’s second quarter of 2023 survey covering 910 hedge funds revealed that 27 had bought and owned Coinbase Global, Inc. (NASDAQ:COIN)’s shares. ARK Investment Management was the biggest investor among these as it owned $867 million worth of shares.

2. UiPath Inc. (NYSE:PATH)

Cathie Wood & Ark Invest’s Q3 2023 Investment: $809 million

Number of Hedge Fund Investors In Q2 2023: 28

UiPath Inc. (NYSE:PATH) is a software company that provides automation and artificial intelligence products and services. Given that AI is one of Ark’s most favored innovative sectors, it’s unsurprising that UiPath Inc. (NYSE:PATH) is the second biggest Ark Investment stock pick during the third quarter of 2023.

In the prior quarter, 28 out of the 910 hedge funds surveyed by Insider Monkey had invested in the company. UiPath Inc. (NYSE:PATH)’s largest hedge fund shareholder in Q2 2023 was ARK Investment Management as it owned 48.2 million shares that are worth $800 million.

1. Tesla, Inc. (NASDAQ:TSLA)

Cathie Wood & Ark Invest’s Q3 2023 Investment: $1 billion

Number of Hedge Fund Investors In Q2 2023: 79

Tesla, Inc. (NASDAQ:TSLA) is the biggest electric vehicle manufacturer in the world. After its third quarter saw CEO Elon Musk strike a dour tone and warn about economic troubles, Tesla, Inc. (NASDAQ:TSLA) appears to be increasing its online retail presence by listing cars for sale on Cars.com.

As of Q2 2023 end, 79 out of the 910 hedge funds polled by Insider Monkey were Tesla, Inc. (NASDAQ:TSLA)’s investors. ARK Investment Management was the biggest shareholder among these through a $1.2 billion stake.

Disclosure: None. You can also take a look at 14 Best Cyclical Stocks To Invest In and 12 Best High Beta Stocks to Buy Now.

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