Cathie Wood Stock Portfolio: 5 Newest Stock Picks This Year

3. XPeng Inc. (NYSE:XPEV)

Ark Investment’s Stake Value: $5.1 million

Percentage of Ark Investment’s 13F Portfolio: 0.03%

Number of Hedge Fund Holders: 24

XPeng Inc. (NYSE:XPEV) is a Chinese electric vehicle manufacturer that sells a variety of vehicles such as sports utility vehicles (SUVs), sports sedans, and family sedans. The company is headquartered in Guangzhou, the People’s Republic of China.

XPeng Inc. (NYSE:XPEV) is one of the primary players in China’s booming electric vehicle market which saw a record of 675,000 sales in September 2022. As of September end, the company had delivered 98,553 vehicles, which marked a 75% annual increase and surpassed the deliveries that it had made in the full calendar year 2021.

Ark Investment bought a $5.1 million stake in the company during this year’s third quarter. By the end of this year’s second quarter, 24 out of the 895 hedge funds polled by Insider Monkey had invested in XPeng Inc. (NYSE:XPEV).

Out of these, Chase Coleman and Feroz Dewan’s Tiger Global Management LLC is XPeng Inc. (NYSE:XPEV)’s largest investor. It owns 4.3 million shares that are worth $138 million.