This year has been particularly difficult for Cathie Wood of ARK Investment Management. Her fund’s holdings totaled more than $41 billion at the end of September. Wood has taken advantage of the downturn to increase her shares in eight of her top ten holdings. The ARK Innovation ETF, which ARK Investment Management manages, is down more than 24% year to date. More than 15 of the fund’s fifty holdings have experienced share price declines of more than 38% since the start of the year. Except for a few, all of the equities in the ETF are in a bear market.
Here is Insider Monkey’s list of the 15 biggest losers in the portfolio of Cathie Wood’s ARK. According to the most recent data, ARK Investment Management owned 4.7 million shares of Roku, Inc., worth $2.1 billion at the end of the third quarter of 2021, accounting for 4.05 percent of the company’s market value. At the end of September 2021, ARK Investment Management owned 4.5 million shares of CareDx, Inc worth $417 million, representing 0.77 percent of the company’s market cap. The Department of Justice is looking into the company’s actions regarding kidney testing and phlebotomy services. Cathie Wood’s hedge fund owned 10.7 million shares of Exact Sciences Corporation, valued at more than $1.3 billion at the end of the third quarter of 2021. In recent days, the short interest in the stock has risen above 7%. Accolade, Inc. gets a Buy recommendation from Needham, but the price target has lately been decreased to $56 from $68. One of the reasons for the decreased aim was the company’s board-based multiple compression in the digital health domain. ARK Investment Management owns $1.4 billion worth of Zoom Video Communications, Inc., or 2.64 percent of the company’s market value. Back-to-work tech platforms like Salesforce, Microsoft, and Meta have required a significant adjustment. For more details, click the 15 Biggest Losers In The Portfolio Of Cathie Wood’s ARK.
