Cathie Wood Is Loading Up On These 12 Stocks

Published December 24, 2022 at 6:13 pm EST Updated September 7, 2026 at 11:50 am EDT

In this piece, we will take a look at the top twelve stocks that are on Cathie Wood’s radar.

If there’s one thing that can be said for certain in today’s highly volatile environment, it’s that 2022 has not been a good year for Cathie Wood. Ms. Wood, who heads the hedge fund Ark Investment Management, is one of the most dynamic managers you’re likely to come across. Her bets focus on the highest growth stocks in the industry, which are often those companies that are disrupting the industries they are in. Whether it’s 3D printing, biotechnology, or electric cars, Ms. Wood is right at the front of identifying firms that she believes are truly poised to explode.

Naturally, this aggressive approach, which can very well be categorized as being disruptive to the hedge fund world as well, has come under criticism from more conservative investors who believe that high risk companies should be balanced out with stable players. Ms. Wood is aware of this criticism. In a research paper that she wrote at the start of this month, Cathie Wood used quantitative data to hit back at the critics.

She criticized the approach of simply using the operating income (EBITDA) to value growth companies that are investing heavily in research and development. The hedge fund boss explained that purely focusing on EBITDA — just 27.8% of her Innovation ETF’s holdings are EBITDA positive — is not a reliable indicator of performance since research and development ends up adding to the long term value of a firm. Ms. Wood added that for startups and early stage companies, deferred revenue, which is revenue that it will earn beyond one accounting period, is also a source of “validation” and is more important for valuation purposes than it would be if a mature company was being analyzed. To bolster her claim of R&D costs being a relevant valuation metric for Ark’s investments, she quoted that for the firms that her fund has invested in, these costs are 28.6% of total revenues as opposed to 12% for the NASDAQ 100 index. Should these and some other costs be removed from the operating income, then, as opposed to the 27.8% positive EBITDA percentage shared above, the percentage of firms in the Ark Innovation fund that are profitable jumps to 84.9%.

Finally, she concluded her criticism by sharing an example of Tesla, Inc. (NASDAQ:TSLA). Ms. Wood is one of Tesla’s biggest investors, and she has a whopping $1,530 price target for the company whose shares have taken a beating on the stock market this year due to what some believe is an effect of Mr. Elon Musk’s Twitter tryst, with Musk himself countering by pointing out that a higher benchmark interest rate leaves little incentive for people to invest in risky stocks when they have the comfort of bonds instead. Ms. Wood shares that while Tesla’s EBITDA based profitability was negative as early as 2016, it was actually positive based on her adjusted EBITDA metrics and ended up being positive in 2015, five years before the company entered the S&P 500 index.

Ark Investment’s portfolio is one of the largest in the industry right now, and by the end of this year’s third quarter, it was worth a whopping $14 billion. Unlike some other hedge funds, it also shares daily trading data with anyone who signs up for the service on its website, with details of the shares that it has bought as part of its managed funds sent out regularly a little over three hours after markets have closed. The hedge fund has six different funds. These are the ARK Space Exploration & Innovation ETF, ARK Fintech Innovation ETF, ARK Next Generation Internet ETF, ARK Genomic Revolution ETF, ARK Autonomous Tech. & Robotics ETF, and the flagship ARK Innovation ETF. The top additions to Cathie Wood’s investment portfolio are Coinbase Global, Inc. (NASDAQ:COIN), Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), and Roblox Corporation (NYSE:RBLX).

Cathie Wood of ARK Investment Management

Our Methodology

We used Ark’s daily trading data for December 22 and December 21 to sift out the largest number of shares purchased and the companies that they represented. The shares bought earlier are listed first, and the firms are ranked through the number of shares bought by Ark.

Cathie Wood Is Loading Up On These 12 Stocks

12. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Shares Bought By Ark Investment on December 21, 2022: 486

Zoom Video Communications, Inc. (NASDAQ:ZM) is a video communications platform provider that enables companies and everyday users to communicate with their relatives, workers, and others all over the globe from the comfort of their homes. It is headquartered in San Jose, California, the United States.

Cathie Wood bought 486 Zoom Video Communications, Inc. shares on December 21, 2022, adding to her massive $801 million stake which made her the company’s largest investor in Q3 2022. During the same time period, 50 out of the 920 hedge funds polled by Insider Monkey had invested in Zoom Video Communications, Inc..

Along with Coinbase Global, Inc., Ginkgo Bioworks Holdings, Inc., and Roblox Corporation, Zoom Video Communications, Inc. is one company that’s on Cathie Wood’s keen stock picking radar.

11. Roku, Inc. (NASDAQ:ROKU)

Number of Shares Bought By Ark Investments on December 21, 2022: 8,004

Roku, Inc. (NASDAQ:ROKU) is an American entertainment platform provider that is headquartered in San Jose, California. It provides a streaming platform that lets users watch television shows, movies, and other channels. The firm also sells hardware products such as media players. It is headquartered in San Jose, California.

As has been the case with other high growth, high technology stocks, Roku, Inc.’s shares have also taken a beating on the stock market this year. They are down a painful 82% year to date. It looks like Cathie Wood thinks it’s the perfect buying opportunity. Data shared by her firm revealed that it had bought 8,004 shares of the firm on December 21, 2022, as part of its Ark Innovation ETF.

Insider Monkey’s Q3 2022 data of 920 hedge funds revealed that 33 had held a stake in Roku, Inc..

Roku, Inc.’s largest investor in our database is also Catherine D. Wood’s ARK Investment Management which owns 11.9 million shares that are worth $672 million.

Saga Partners mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“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)

10. Block, Inc. (NYSE:SQ)

Number of Shares Bought By Ark Investments on December 21, 2022: 1,932

Block, Inc. (NYSE:SQ) is a payments platform provider that sells both hardware and software. Its hardware products let merchants accept payments from plastic cards, through both chip and near field verification. Additionally, its software platform enables users to make payments.

When trading ended on December 21, 2022, Ark Investment had bought 1,932 Block, Inc. shares as part of its ARK Innovation ETF. It is already the company’s largest investor as it owns 9.1 million shares that are worth $505 million as of Q3 2022 end. During the same quarter, 75 out of the 920 hedge funds polled by Insider Monkey had also invested in Block, Inc..

Baron Funds’ Q2 2022 investor letter mentioned the company and outlined that:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to mixed quarterly results with more modest growth in the Seller business offsetting strength in Cash App. While integration of recently acquired Afterpay is progressing well and credit metrics remain healthy, the buy-now-pay-later business slowed due to greater competitive intensity. We continue to own the stock due to Block’s long runway for growth, sustainable competitive advantages, and unique corporate culture.”

9. Tesla, Inc. (NASDAQ:TSLA)

Number of Shares Bought By Ark Investments on December 21, 2022: 9,952

Tesla, Inc. is one of the world’s largest manufacturers of electric vehicles, and one that is also credited with having pioneered the industry. The firm is headquartered in Austin, Texas, the United States, and it also sells other energy products such as battery packs.

Cathie Wood scooped up 9,952 Tesla, Inc. shares on December 22, 2022, even as the wider market was sharing its concerns about Tesla chief Mr. Elon Musk not paying enough attention to the company. For instance, Canaccord lowered its share price target to $275 from $304 for the company in December 2022, outlining that future growth can reverse current losses.

By the end of this year’s third quarter, 88 out of the 920 hedge funds covered by Insider Monkey had bought Tesla, Inc.’s shares.

As was the case with Roku, Ms. Wood is Tesla, Inc.’s largest hedge fund shareholder with a $1 billion stake that comes via four million shares.

8. Verve Therapeutics, Inc. (NASDAQ:VERV)

Number of Shares Bought By Ark Investments on December 22, 2022: 484

Verve Therapeutics, Inc. (NASDAQ:VERV) is a quintessential Cathie Wood investment. The firm is a gene editing company that is headquartered in Cambridge, Massachusetts. It is developing treatments for liver diseases.

Ms. Wood believes that Verve Therapeutics, Inc. can deliver “explosive growth” if its gene editing technologies for heart problems are successful. The company’s main product is the VERVE-101 treatment which focuses on manipulating liver genes. December 2022 has been a mixed bag for Verve Therapeutics, Inc., as while VERVE-101 continues to be on FDA hold, the data requested by the agency is not limitless, and the firm stands the chance of clearing regulatory hurdles.

Insider Monkey’s Q3 2022 survey of 920 hedge funds revealed that 18 had invested in Verve Therapeutics, Inc.. Ms. Wood bought 484 shares on December 22, adding to the 3.3 million that she had owned during the third quarter, making her Verve Therapeutics, Inc.’s largest investor with a $116 million stake.

7. Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Number of Shares Bought By Ark Investment on December 22, 2022: 5,992

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a biotechnology company that is developing treatments for liver diseases such as hemophilia. Alongside these, it also focuses on developing cures for cancer. The firm is headquartered in Cambridge, Massachusetts.

Cathie Wood bought 5,992 Intellia Therapeutics, Inc. shares on December 22, 2022. During the third quarter, her hedge fund was already the company’s largest investor as it owned a massive $540 million stake in the company. During the same time period, 36 out of the 920 hedge funds polled by Insider Monkey had invested in Intellia Therapeutics, Inc..

6. Beam Therapeutics Inc. (NASDAQ:BEAM)

Number of Shares Bought By Ark Investment on December 22, 2022: 6,991

Beam Therapeutics Inc. (NASDAQ:BEAM) develops gene edited treatments for sickle cell anemia, leukemia, eye diseases, nervous system disorders, and other ailments. The firm is headquartered in Cambridge, Massachusetts.

Beam Therapeutics Inc. scored a big win in December 2022 when the FDA lifted its hold on the company’s BEAM-201 treatment. BMO Capital raised the company’s share price target to $66 from $61 in December 2022, stating that the company has a strong treatment pipeline.

27 out of the 920 hedge funds polled by Insider Monkey for their September quarter of 2022 investments had held a stake in Beam Therapeutics Inc.. Cathie Wood bought 6,991 shares of the company on December 22, 2022, and she is also the company’s largest investor as it owns a $404 million stake.

Beam Therapeutics Inc., Coinbase Global, Inc., Ginkgo Bioworks Holdings, Inc., and Roblox Corporation are some of Cathie Wood’s latest stock picks.

5. Teladoc Health, Inc. (NYSE:TDOC)

Number of Shares Bought By Ark Investment on December 22, 2022: 18,972

Teladoc Health, Inc. (NYSE:TDOC) is a telemedicine company that is headquartered in Purchase, New York. The company provides remote medical care over the telephone and the Internet. It lets patients access the service at any time, and get prescriptions for a limited number of medications.

Cathie Wood bought 18,972 Teladoc Health, Inc. shares on December 22, 2022. 27 out of the 920 hedge funds polled by Insider Monkey during Q3 2022 had held a stake in the company. Ark Investment is Teladoc Health, Inc.’s largest investor as well, as it owns a $528 million stake in the company.

Greenhaven Road Capital mentioned the company in its Q3 2022 investor letter, outlining that:

“At the end of last year and the beginning of this year, I sold two of our highest multiple holdings and invested in Teladoc Health, Inc. (NYSE:TDOC), believing that swapping out of the highest multiple holdings into a lower multiple holding would provide protection in the event of multiple compression. However, the reality is that the multiple compression on currently loss-making (unprofitable) companies has been severe regardless of starting multiple, and TDOC’s lower relative starting point afforded us far less protection than I expected. We are no longer shareholders today but continue to follow the business and may return someday given its market size, product portfolio, and valuation.”

4. SomaLogic, Inc. (NASDAQ:SLGC)

Number of Shares Bought By Ark Investment on December 22, 2022: 23,062

SomaLogic, Inc. (NASDAQ:SLGC) is a clinical diagnostics company that is based in Boulder, Colorado. The firm develops products that enable researchers to study specific kinds of proteins, that allow for drug development for various diseases covering the heart, metabolism, and more.

Insider Monkey took a look at 920 hedge fund portfolios for their September quarter of 2022 investments to discover that 29 had bought SomaLogic, Inc.’s shares. Ark Investment bought 23,062 shares of the company on December 22, 2022, and SomaLogic, Inc.’s largest investor is Eli Casdin’s Casdin Capital with a $36 million stake in the company.

3. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Shares Bought By Ark Investment on December 22, 2022: 23,509

Coinbase Global, Inc. is an American cryptocurrency exchange. It is one of the largest exchanges in the U.S. in terms of volume, and the company is unique in the sense that all of its employees work remotely. Coinbase Global, Inc. is headquartered in Wilmington, Delaware.

Catie Wood bought 23,509 Coinbase Global, Inc. shares on December 22, 2022, and her investment firm is also the company’s largest hedge fund holding, as it owned 7.7 million shares that were worth $497 million by the end of Q3 2022. During the same quarter, 28 of the 920 hedge funds polled by Insider Monkey had also owned a stake in Coinbase Global, Inc..

Miller Value Partners mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“Coinbase Global Inc. Ordinary Shares (NASDAQ:COIN) fell during the quarter as the crypto markets continued to suffer. While the company reported disappointing results, it committed to capping EBITDA losses at $500M even in the event of “a prolonged market downturn”. COIN’s ample liquidity ($6b in cash on hand) should enable them to survive a prolonged “crypto winter” and invest to strengthen the business in the downturn. While the crypto market is early in its adoption, Coinbase is focused on building the platform for crypto not only supporting trading, and cold storage, but moving into NFTs, staking, and crypto derivatives. We see tremendous upside potential for COIN over the next decade if they are able to successfully execute on their platform strategy.”

2. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Number of Shares Bought By Ark Investment on December 22, 2022: 26,329

Ginkgo Bioworks Holdings, Inc. is a biotechnology firm that has one of the most unique technology platforms in the world. The firm is developing technologies that seek to ‘program’ cells to produce products used in food, therapies, and even chemicals that are derived from petroleum. It is based in Cambridge, Massachusetts.

By the end of this year’s third quarter, 24 out of the 920 hedge funds part of Insider Monkey’s research had bought a stake in Ginkgo Bioworks Holdings, Inc.. Cathie Wood, on the other hand, bought 1,979 shares of the company on December 22, 2022. The firm entered into an agreement with the Botswanese government in December 2022 to provide biosecurity services.

1. Roblox Corporation (NYSE:RBLX)

Number of Shares Bought By Ark Investment on December 22, 2022: 154,095

Roblox Corporation is an American company that operates a virtual reality platform often called a metaverse. This platform lets users interact with each other in a fully immersive digital environment, and the company also provides a development platform to developers for creating applications for its metaverse. Roblox Corporation is headquartered in San Mateo, California.

Ark Investment added another 154,095 shares to its stake in Roblox Corporation on December 22, 2022. The firm had owned 8.4 million shares of the company as of Q3 2022 end, and in the same quarter, 38 out of the 920 hedge funds part of Insider Monkey’s research had owned a stake in the metaverse firm.

However, Roblox Corporation’s largest investor is not Cathie Wood. Instead, it’s the legendary quantitative investment billionaire Jim Simons of Renaissance Technologies whose firm owns 10.6 million shares that are worth $380 million.