ARK Invest Stock Portfolio: Top 5 Picks

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1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 72

Tesla, Inc. (NASDAQ:TSLA) is the largest holding in the Cathie Wood stock portfolio. Wood owns more than 4 million shares of Tesla, Inc. (NASDAQ:TSLA) as of the third quarter of 2022, worth $1 billion and representing 7.54% of the total 13F securities. Cathie Wood elevated her stake in Tesla by 183% in the September quarter. She has consistently held a stake in Tesla, Inc. (NASDAQ:TSLA) since the last quarter of 2016, apart from a few minor breaks over the years. 

On October 14, Wells Fargo analyst Colin Langan lowered the price target on Tesla, Inc. (NASDAQ:TSLA) to $230 from $280 and kept an Equal Weight rating on the shares ahead of the Q3 results. The analyst expects a “slight” earnings beat, noting that the higher pricing will potentially be offset by currency headwinds. However, Tesla, Inc. (NASDAQ:TSLA) remains the biggest beneficiary of the Inflation Reduction Act and the analyst raised his 2023 through 2026 earnings estimates by 33% to factor in the bill’s benefits. 

According to Insider Monkey’s data, Tesla, Inc. (NASDAQ:TSLA) was part of 72 hedge fund portfolios at the end of Q2 2022, compared to 80 funds in the preceding quarter. Philippe Laffont’s Coatue Management is a prominent stakeholder of the company, with 1.40 million shares worth $949 million. 

Here is what Carillon Tower Advisers specifically said about Tesla, Inc. (NASDAQ:TSLA) in its Q2 2022 investor letter:

“Tesla, Inc. (NASDAQ:TSLA), the electric vehicle and clean energy company, is set to recall more than 100,000 cars in China over a potential safety risk and is reportedly delaying a plan to restore production at its Shanghai plant. CEO Elon Musk was reported to have said that the company would cut 10% of salaried staff and freeze hiring due to a bad feeling he has about the economy.”

You can also take a look at 10 Best Italian Stocks To Buy Now and 11 Best Dividend Stocks To Buy According To Warren Buffett

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