Cathie Wood’s Thoughts on Automobile Industry and Her Top 5 Car Stock Picks

2. TuSimple Holdings Inc. (NASDAQ:TSP)

Percentage of ARK Investment Management’s 13F Portfolio: 0.91%

ARK Investment Management’s Stake Value: $382,967,000

Number of Hedge Fund Holders: 12

TuSimple Holdings Inc. (NASDAQ:TSP) develops autonomous technology for commercial semi-trucks. The company’s driverless trucks operate completely autonomously without human intervention. As the California-based trucking company went public last year, TuSimple Holdings Inc. (NASDAQ:TSP) gained partnerships with various logistics companies including United Parcel Service, Inc. (NYSE:UPS), Ryder System, Inc. (NYSE:R), and DHL.

TuSimple Holdings Inc. (NASDAQ:TSP) increased its revenue by approximately three times from the previous year in the third quarter of 2021 to $1.8 million, owing to increased utilization of its own commercial and partner fleet.

Cathie Wood increased her stake in TuSimple Holdings Inc. (NASDAQ:TSP) by 60% during the third quarter of 2021, bringing her total holdings to over 10 million shares worth $383 million. Overall, 12 funds of the 867 elite funds tracked by Insider Monkey reported owning stakes in TuSimple Holdings Inc. (NASDAQ:TSP) at the end of September 2021.