Cathie Wood’s Stock Portfolio: Top 5 2024 Stock Picks

4. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Investors: 75

Ark Investment’s Q4 2023 Investment Value: $919.5 million

Founded in 2009 by Jack Dorsey and Jim McKelvey, Block Inc. (NYSE:SQ) is an American public company. Originally named Square Inc., the company encompasses diverse businesses within the financial technology sector. As of 2023, Block’s service network boasts nearly 4 million merchants and 51 million users.

Block Inc (NYSE:SQ) shares recently surged after the company released Q4 results and provided strong 2024 EBITDA guidance. Block Inc’s (NYSE:SQ) net income in the fourth quarter came in at 2 cents a share, significantly better than the loss of 93 cents a share it posted in the year-ago period.

Out of the 933 hedge funds tracked by Insider Monkey in the fourth quarter of 2023, 75 hedge funds had stakes in Block Inc (NYSE:SQ), a notable increase from 60 hedge funds in the previous quarter.