Ark Invest Stock Portfolio: Top 5 Picks

1. Tesla, Inc. (NASDAQ:TSLA)

ARK Invest’s Stake Value: $1,267,914,698

Number of Hedge Fund Holders: 82

Tesla, Inc. (NASDAQ:TSLA) is the largest holding in the Cathie Wood stock portfolio. Wood is a Tesla bull, and she has owned the stock consistently since the first quarter of 2018. In Q2 2023, Cathie Wood’s Tesla, Inc. (NASDAQ:TSLA) stake consisted of 4.84 million shares worth $1.26 billion. 

Data from the China Passenger Car Association revealed that Tesla, Inc. (NASDAQ:TSLA) sold 64,285 electric vehicles manufactured in China in July. Although this electric vehicle count displayed a 128% increase from the same period last year, during which the Shanghai Gigafactory underwent a few weeks of upgrades, the production volume experienced a decline of 31% compared to June and marked the lowest production so far in 2023.

According to Insider Monkey’s first quarter database, 82 hedge funds were bullish on Tesla, Inc. (NASDAQ:TSLA), compared to 91 funds in the earlier quarter. D E Shaw is a significant position holder in the company, with 6.24 million shares worth $1.3 billion. 

Baron Opportunity Fund had this to say about Tesla, Inc. (NASDAQ:TSLA) in the first quarter of 2023:

“Tesla, Inc. (NASDAQ:TSLA) designs, manufactures, and sells EVs, related software and components, and solar and energy storage products. Following a sharp decline at the end of 2022, Tesla’s stock rebounded in the first quarter of 2023 on investor expectations that Tesla will continue to grow vehicle deliveries and maintain solid gross and operating margins despite a potential recession, competition in China, and vehicle price reductions. We wrote a long piece on Tesla last quarter and refer readers back to it, because for long-term investors not much has changed over the last three months. Tesla did hold its first Investor Day in March, and several Baron analysts and portfolio managers attended. We toured the Austin Gigafactory, drove in a Cybertruck, boarded a Semi truck, and spoke with a wide swath of Tesla senior managers. During the formal presentation, Tesla highlighted, among other things: (1) its broad and deep bench of executive talent supporting CEO Elon Musk; (2) its “Master Plan 3–Sustainable Energy for All of Earth,” which featured EVs, renewable power from solar and wind, and stationary electric storage; (3) its vehicle assembly innovations, including massive casted parts (building Model Y bodies with single front and rear castings, replacing a substantial number of parts and fastening steps), a stainless steel exoskeleton (for Cybertruck), and its next-generation highly efficient “unboxed process” for its next-gen $25,000 vehicle; (4) a future permanent[1]magnet electric motor that will not require any rare earths; and (5) the massive untapped market opportunity for commercial stationary electric storage, branded Megapack, as the world steadily shifts to renewable energy. As long-term shareholders, we have witnessed Tesla exploit its innovative Model 3/Y now-global mass-market platform to increase vehicle deliveries from barely a standing start to over 1.3 million units, while achieving industry-leading margins and reinforcing its iron-clad balance sheet to almost $23 billion in cash (and effectively no recourse debt). We expect Tesla’s next-generation EV and Megapack products to have a similar impact on company results.”

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