Ark Invest Stock Portfolio: Top 5 Picks

4. Roku, Inc. (NASDAQ:ROKU)

ARK Invest’s Stake Value: $764,852,333

Number of Hedge Fund Holders: 27

Roku, Inc. (NASDAQ:ROKU) operates a TV streaming platform. It is one of the top picks from the Cathie Wood stock portfolio. Wood has consistently maintained a stake in Roku, Inc. (NASDAQ:ROKU) from the second quarter of 2019. In Q2 2023, ARK Invest held approximately 12 million shares of the company valued at $764.85 million. 

On July 27, Roku, Inc. (NASDAQ:ROKU) reported a Q2 GAAP EPS of -$0.76 and a revenue of $847 million, outperforming Wall Street consensus by $0.51 and $72.47 million, respectively. The number of active accounts rose to 73.5 million, marking a net growth of 1.9 million users compared to the first quarter of 2023.

According to Insider Monkey’s first quarter database, 27 hedge funds were bullish on Roku, Inc. (NASDAQ:ROKU), compared to 30 funds in the prior quarter. D E Shaw is a prominent stakeholder of the company, with 3.35 million shares worth approximately $221 million. 

Here is what Saga Partners has to say about Roku, Inc. (NASDAQ:ROKU) in its Q2 2022 investor letter:

“The Portfolio first bought Roku in Q3’20. It was a company we followed closely given our investment in The Trade Desk and its importance in connected television (CTV). Roku continued to impressively grow its CTV market share and it took some extra work to understand the underlying dynamics causing Roku’s success. I think there is some misunderstanding surrounding the connected television landscape. Since I haven’t written extensively on the topic in past letters, I thought it would be helpful to provide a little more background on the underlying dynamics of the space below…” (Click here to see the full text)