Only the top ten holdings are profitable with Tesla! "Wood Sister" ARKK underperformed the Nasdaq 100 by 27% this year
"Wood Sister" 's Ark Investment Management has incurred losses of $14.3 billion in the past decade, and the flagship fund ARKK ETF's assets under management have dropped from a peak of $28 billion to $6.3 billion
The flagship fund's performance has plummeted, and the label of "female version of Buffett" on Cathie Wood is being ruthlessly torn apart.
Cathie Wood, also known as "Wood Sister," saw her ARK Invest ETF (ARKK) drop by 72% since reaching its peak on February 19, 2021. Meanwhile, its main benchmark, the Nasdaq 100 index, surged 39% during the same period, hitting a historical high. Year-to-date, the ARKK ETF has accumulated a 15% decline, while the Nasdaq 100 has accumulated a 12% increase.
According to data released on the Cathie's Ark website, among the top 10 holdings of ARKK, only Tesla has remained profitable since joining the portfolio. Out of the 35 stocks held in the portfolio, only 7 have seen gains.
As losses continue to mount, the assets under management of the ARKK ETF have dropped from a peak of $28 billion to $6.3 billion.
In addition to the ARKK ETF, Wood's Innovation Fund, ARK Innovation ETF, has also performed poorly, with its stock price falling by 12% year-to-date, and its largest holding, Tesla, dropping nearly 30% this year.
Cathie Wood also missed out on Nvidia, as her funds sold all their Nvidia holdings in January 2023, after which Nvidia's stock price roughly quintupled.
Furthermore, a recent analysis report by Morningstar revealed that over the past decade, Cathie Wood's Ark Invest company has incurred losses of $14.3 billion. In 2022 alone, the ARKK ETF lost $7.1 billion, while the ARK Genomic ETF, which focuses on healthcare, lost $4.2 billion