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Cathie Wood Was Buying These 11 Stocks for 2024

In this article, we will take a detailed look at Cathie Wood Was Buying These 11 Stocks for 2024. For a quick overview of such stocks, read our article Cathie Wood Was Buying These 5 Stocks for 2024.

Cathie Wood was again in the news recently after data from Morningstar showed that ARK ETF Trust lost about $14.3 billion in shareholder value over the past decade. Investors have also questioned Cathie Wood’s decision to sell Nvidia in January 2023 just when the AI boom was taking off. Cathie Wood has clearly missed on the huge Nvidia rally, but she says investing in Nvidia was too easy and expensive. In May 2022 Cathie Wood in a tweet had said that Artificial General Intelligence (AGI) was expected to transform how the world works.

 “Within 6-12 years, breakthroughs in AGI could a accelerate growth in GDP from 3-5% per year to 30-50% per year. New DNA will win!,” Cathie Wood had said.

Despite her prescient thought process Cathie Wood failed to foresee the potential of Nvidia and instead kept on piling into stocks many of which are still money-losing. Was that a blunder or there’s something the market is missing and only Cathie Wood can see due to her long-term horizon? Only time would tell.

ARK Innovation’s Strong Performance in 2023

Despite these performance gaps what is causing ARK investors to stick around? After all, ARK funds have not seen a mass investor exodus. One reason could be Cathie Wood’s investment philosophy which almost always demands having at least five-year investment horizon. Perhaps ARK investors are patient and they are waiting for Cathie Wood’s ambitious and futuristic bets to pay off. And these investors were also impressed with ARK’s performance last year. ARK Investment Management’s flagship ETF ARK Innovation exchange-traded fund ($ARKK) rallied about 70% in 2023. This was the fund’s third best performance in a year on record since its inception in 2014.  ARK Innovation ETF is up 30% over the past one year.

A Bloomberg report quoted Mohit Bajaj, director of ETFs at WallachBeth Capital, who said:

“I don’t think a single name has really hurt their brand,” he said. “It’s just a matter of performance with the fund. Things might perform better as Bitcoin appreciates.”

Cathie Wood of ARK Investment Management

Methodology

While Cathie Wood’s portfolio’s top holdings include Tesla Inc (NASDAQ:TSLA), Block Inc (NYSE:SQ) and Shopify Inc (NYSE:SHOP), for this article we decided to see which stocks Cathie Wood was buying for 2024. For that we scanned ARK Investment Management’s Q4’2023 portfolio and picked 11 stocks in which the fund either increased its stakes or initiated new positions. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

11. Nano-X Imaging Ltd. (NASDAQ:NNOX)

Cathie Wood’s Stake: $1,968,935

Tomographic imaging technology company Nano-X Imaging Ltd. (NASDAQ:NNOX) ranks 11th in our list of the stocks Cathie Wood was buying for 2024. Cathie Wood upped her stake in Nano-X Imaging Ltd. (NASDAQ:NNOX) by 102% during the fourth quarter of 2023. As of the end of December last year ARK had a $1.97 million stake in Nano-X Imaging Ltd. (NASDAQ:NNOX).

While Cathie Wood has missed on the Nvidia rally she did enjoy some gains from the latest jump in Nano-X Imaging Ltd. (NASDAQ:NNOX) shares that came after Nano-X Imaging Ltd. (NASDAQ:NNOX) revealed that Nvidia held an approximately $380,000 stake in Nano-X Imaging Ltd. (NASDAQ:NNOX).

10. Pagaya Technologies Ltd (NASDAQ:PGY)

Cathie Wood’s Stake: $2,055,782

Israeli fintech company Pagaya Technologies Ltd (NASDAQ:PGY) is part of the Cathie Wood’s 2024 portfolio since ARK increased its stake in Pagaya Technologies Ltd (NASDAQ:PGY) by 59% in the fourth quarter of 2023, entering the new year with a $2 million stake.

Pagaya Technologies Ltd (NASDAQ:PGY) shares have gained about 15% year to date through February 26.

9. Inmode Ltd (NASDAQ:INMD)

Cathie Wood’s Stake: $2,068,075

Israel-based aesthetic medical products company Inmode Ltd (NASDAQ:INMD) is part of Cathie Wood’s 2024 portfolio since ARK increased its stake in Inmode Ltd (NASDAQ:INMD) by 95% in the fourth quarter of 2023, concluding the period with stake worth over $2 million in Inmode Ltd (NASDAQ:INMD).

Earlier this month Inmode Ltd (NASDAQ:INMD) posted fourth quarter results. Adjusted EPS in the period came in at $0.71, surpassing estimates by $0.04. Revenue in the quarter fell 5.1% year over year to $126.78 million, beating estimates by $1.93 million.

Like Inmode, Cathie Wood also loves Tesla Inc (NASDAQ:TSLA), Block Inc (NYSE:SQ) and Shopify Inc (NYSE:SHOP).

8. Pure Storage Inc. (NYSE:PSTG)

Cathie Wood’s Stake: $17,356,792

Data storage solutions company Pure Storage Inc. (NYSE:PSTG) ranks eighth in our list of the top stocks in Cathie Wood’s 2024 portfolio. ARK increased its position in Pure Storage Inc. (NYSE:PSTG) by 175% in the fourth quarter of 2023, ending the period with a $17.4 million stake.

Stifel analyst Matthew Sheerin recently cut the stock’s rating to Hold from Buy, citing gains in the stock price since November.

As of the end of the fourth quarter of 2023, 37 hedge funds had stakes in Pure Storage Inc. (NYSE:PSTG), as per Insider Monkey’s database.

During Q3 earnings call in December the company talked about Q4 guidance:

“We have approximately $167 million remaining on our existing $250 million repurchase authorization. Now turning to our updated annual guidance for FY ’24. A key assumption used to derive our FY ’24 annual revenue guide at the beginning of the year was that the macro environment would not meaningfully improve or deteriorate throughout the year. This assumption is holding as the spending environment continues to be challenging. Though despite these challenges, we are seeing increasing demand in the second half of the year across our data storage platform especially for consumption and subscription service offerings. Although we expect the demand to increase for the second half of the year, there are two important factors that are impacting our annual revenue expectation this year, which we now expect to be $2.82 billion, growing 2.5% and Q4 revenue is expected to be $782 million, declining 3.5%.

First is the impact of our Evergreen//One Storage as a Service momentum, which will be discussed in more detail. And second is the impact of a $41 million non-canceled product order with a telco customer that is not expected to be fulfilled until next year. Both factors on a combined basis represent approximately 4.5 points of incremental headwind when compared to the annual revenue guide we provided at the beginning of the year. We are very pleased with the momentum and growth of our Evergreen//One service offering, while appreciating that this momentum creates a short-term impact on revenue growth. Last quarter, we stated that sales of our Evergreen//One service offering was expected to create 1 to 2 points of headwind to the annual revenue guide we provided at the beginning of the year.”

Read the full earnings call transcript here.

7. SoFi Technologies Inc. (NASDAQ:SOFI)

Cathie Wood’s Stake: $19,608,883

Cathie Wood can’t get enough of fintech and banking company SoFi Technologies Inc. (NASDAQ:SOFI). She snapped up more shares in SoFi Technologies Inc. (NASDAQ:SOFI) during the fourth quarter of 2023, increasing her stake in the firm by about 144%.

As of the end of the fourth quarter of 2023, 29 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in SoFi Technologies Inc. (NASDAQ:SOFI).

6. Nextdoor Holdings Inc. (NYSE:KIND)

Cathie Wood’s Stake: $20,388,364

Nextdoor Holdings Inc. (NYSE:KIND) ranks sixth in our list of the stocks Cathie Wood was buying for 2024. Cathie Wood’s fund increased its stake in Nextdoor Holdings Inc. (NYSE:KIND) by 57% during the last quarter of 2023, ending the period with a $20.4 million stake in Nextdoor Holdings Inc. (NYSE:KIND). The hyperlocal social networking platform Nextdoor Holdings Inc.’s (NYSE:KIND) shares have gained about 14% year to date through February 26. In addition to Nextdoor, Cathie Wood is also bullish on Tesla Inc (NASDAQ:TSLA), Block Inc (NYSE:SQ) and Shopify Inc (NYSE:SHOP).

Nextdoor talked about guidance and future plans in an earnings call in November 2023.

“We are targeting a reduction in current GAAP personnel expenses of up to $60 million annually. These actions, while difficult, increase our focus on efficiency and will accelerate the path to quarterly free cash flow breakeven by the end of 2025.

As Sarah said earlier, the Q4 revenue growth acceleration we initially expected has not materialized to date. We now expect Q4 2023 revenue in a range between $50 million and $52 million and 2023 revenue in a range between $213 million and $215 million, which implies flat to slightly higher year-over-year growth for the full year. We expect a Q4 adjusted EBITDA loss in a range between $21 million and $19 million, which excludes the impact of one-time expenses related to our cost reduction plan. This implies a 2023 adjusted EBITDA loss in a range between $81 million and $79 million. One other note, we currently estimate that those one-time severance and related costs associated with our cost reduction plan will be approximately $12 million. Across many measures, Nextdoor’s growth and momentum continue.

Even in an environment where important advertiser verticals have been pressured organic verified neighbor growth and engagement depth are accelerating. We are making continued progress transitioning to our proprietary ad platform and saw positive early results in Q3. And as we look ahead to 2024, we remain focused on growing WAU and revenue.”

Read the entire earnings call transcript here.

Click to continue reading and see Cathie Wood Was Buying These 5 Stocks for 2024.

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Disclosure. None. Cathie Wood Was Buying These 11 Stocks for 2024 was initially published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

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