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“Wooden Sister” bought Alphabet and Meta and sold this chip-related stock.
Kathy Wood’s Ark Invest continued to increase its holdings in large technology stocks this week, implementing its strategy: buy the assets it highly favors regardless of price.
Although the first-quarter earnings reports boosted stock prices, three actively managed funds under Ark continued to increase their positions in Alphabet. The Ark Innovation ETF (ticker: ARKK) bought 43,953 Class C shares on Thursday. As of Friday, ARKK held a total of 250,688 shares of Alphabet, with a market value of approximately $95.7 million, accounting for 1.48% of the fund’s investment portfolio.
Ark Autonomous Vehicles and Robotics ETF (ARKQ) purchased 28,180 shares of Alphabet, while Ark Space and Defense Innovation ETF (ARKX) increased its holdings by 11,996 shares. Alphabet has a higher proportion in these two funds, with weights of 4.63% and 4.04%, respectively.
After Facebook’s parent company Meta announced a high capital expenditure plan, causing its stock price to decline, Ark Invest took the opportunity to buy Meta shares on the dip. ARKK increased its holdings by 26,753 shares, the Next Generation Internet ETF added 13,653 shares, and the Blockchain and Financial Technology Innovation ETF increased by 6,795 shares. Meta’s share of these portfolios is relatively small, with ARKK at only 0.6%, and the other two funds each over 2%.
Also on Thursday, Ark Invest sold a total of 172,305 shares of Advanced Micro Devices (AMD) across five of its funds.
As of Thursday’s close, more than half of these funds had a five-year annualized total return negative. The largest decline was in the flagship fund ARKK, which fell 8.73% over five years. ARKQ and ARKX performed noticeably better, rising 9.25% and 9.89%, respectively, but still lagged behind the broader market. During the same period, the S&P 500 and Nasdaq Composite indexes both returned over 13%.
However, over the past three years, all five actively managed funds under Ark have outperformed the two major indices mentioned above.