Cathie Wood Is Loading Up On These 5 Stocks

In this piece, we will take a look at the top five stocks that are on Cathie Wood’s radar. For more stocks, head on over to Cathie Wood Is Loading Up On These 12 Stocks.

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. (NYSE:TDOC) 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. (NYSE:TDOC)’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. (NASDAQ:SLGC)’s shares. Ark Investment bought 23,062 shares of the company on December 22, 2022, and SomaLogic, Inc. (NASDAQ:SLGC)’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. (NASDAQ:COIN) 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. (NASDAQ:COIN) is headquartered in Wilmington, Delaware.

Catie Wood bought 23,509 Coinbase Global, Inc. (NASDAQ:COIN) 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. (NASDAQ:COIN).

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. (NYSE:DNA) 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. (NYSE:DNA). 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 (NYSE:RBLX) 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 (NYSE:RBLX) is headquartered in San Mateo, California.

Ark Investment added another 154,095 shares to its stake in Roblox Corporation (NYSE:RBLX) 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 (NYSE:RBLX)’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.

Disclosure: None. You can also take a peek at 14 Best Agriculture Stocks to Buy Now and 12 Countries That Produce The Best Cosmetics.

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