Wood’s flagship Ark Innovation ETF is down 37% over the past 12 months, but has rebounded 21% so far this year.
Cathy Wood’s trading activity on Tuesday included selling shares of a major Japanese construction equipment maker.
The CEO of Ark Investment Management also repeated several familiar deals. All ratings below are as of Tuesday’s close.
Don’t Miss: Cathy Wood Watch: ARK sells out Alphabet for the first time since July
The Ark Autonomous Technology & Robotics ETF (ARKQ) – Get a free reportHe sold 29,447 shares of the Japanese company Komatsu (KMTUY) valued at $696,000.
Komatsu is the world’s second largest construction equipment manufacturer by revenue, after Caterpillar. It has a “leading position in the global construction machinery field,” according to Morningstar analyst Ken Foong.
Komatsu shares are up 4% in the past 12 months and 13% year-to-date. Wood has been selling it off and on since July. But it’s still the ninth-largest holding in the Ark Autonomous Tech fund.
Also Tuesday, Ark funds dumped 63,368 shares of DraftKings (DKNG) – Get a free reportan online sports platform, worth $1.2 million.
DraftKings stock has gained 10% in the past year and 63% so far, amid strength in the sports gambling market. DraftKings is the 11th largest company in the leading Woodland-based Ark Innovation ETF (ark) – Get a free report.
Patrick T Fallon/AFP via Getty Images
Ark Trades Unity Software, Exact Sciences
Ark Funds has purchased 65,019 shares of Unity Software (Yu) – Get a free report, worth $2 million. The company provides software for creating interactive 3D content. Its clients include video game and architecture firms. The unit’s revenue was up 25% last year, but its net loss has widened.
Unity’s stock is down 69% over the past year, but it’s flat 1% so far. It’s 12y The largest holding company in Wood’s flagship Ark Innovation ETF.
Finally, Ark funds disposed of 37,166 shares of Exact Sciences (EXAS) – Get a free report, worth $2.5 million. The company is a provider of medical diagnostics and is best known for its Cologuard at-home test for colon cancer.
The stock is up 31% so far in 2023, buoyed by strong earnings, but has fallen 2% over the past 12 months.
Ark has offloaded more than 3 million shares of Exact Sciences since Jan. 1, but it’s still the sixth largest stake in the Ark Innovation ETF.
Wood’s late returns
Meanwhile, Wood’s performance hasn’t quite set the investment world on fire over the past year, as its emerging technology stocks have plunged. Ark Innovation is down 37% over that period and 76% from its February 2021 peak.
However, the fund has rebounded 21% so far this year, as technology stocks have rebounded in general.
Mama Kathy, as Wood knows her fans, defends her strategy by pointing out that she has a five-year investment horizon. But the five-year annualized return of $7.4 billion in Ark Innovation assets was just 0.6% through April 11, compared to 11.17% for the S&P 500.
The fund’s performance is also nowhere near Wood’s goal of achieving 15% annual returns over five years.
Ark Innovation experienced a net investment inflow of $128 million in the five days to April 11, but enjoyed an inflow of $765 million over the past year, according to the ETF’s research firm VettaFi.
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