Cathie Wood is Doubling Down on These 5 Stocks

2. Reinvent Technology Partners Y (NASDAQ: RTPY)

Number of Hedge Fund Holders: 38   

Percentage Increase in Stake in Q2: 2,547%

Reinvent Technology Partners Y (NASDAQ: RTPY) is placed second on our list of 10 stocks Cathie Wood is doubling down on. The company operates from New York. It is a special purpose acquisition firm. According to regulatory filings, ARK Investment Management owned more than 1.1 million shares in the firm worth $11.8 million at the end of June 2021, representing 0.02% of the portfolio. The hedge fund has increased stake in the company by 2,547% compared to the first quarter of 2021. 

On July 15, Reinvent Technology Partners Y (NASDAQ: RTPY) announced that it agreed to a deal with self-driving firm Aurora to take the latter public via the SPAC. Aurora is valued at more than $10 billion, according to reports.

At the end of the second quarter of 2021, 38 hedge funds in the database of Insider Monkey held stakes worth $326 million in Reinvent Technology Partners Y (NASDAQ: RTPY), down from 39 in the preceding quarter worth $321 million.