After adding Tesla and Xpeng during the last weeks, Ark Investment Management is now adding another EV manufacturer: BYD. The fund led by Cathie Wood bought on Monday 53,228 shares and another 11,143 this Tuesday. Total holdings of the Warren Buffett backed BYD are now worth $14,86 Million and represent a weight of 1.05% on ARKQ’s portfolio. The last time that ARK Invest. bought BYD shares was on November 30th, 2021, with 98,964 shares being added at a price per share of around $75.
The Chinese manufacturer is backed by Buffett sold more electric and hybrid vehicles in China than Tesla and the company is expected to double its sales numbers in 2022. ARK Invest Fund also added recently 56,159 Xpeng shares for the fourth time this year getting advantage of the decline on the price. Xpeng is the 26th biggest holding for the ARKQ Fund out of 37 different companies, with more than $19M invested as of March 16th.
ARK’s ARKQ ETF is focused on Autonomous Tech. & Robotics and has Tesla as the main holding with a weight of 9.93% while the EV maker Xpeng represents 2.26% of the portfolio. ARKQ is currenlty holding 39 different stocks and the top-3 holdings include also $PATH and $KTOS, with 8.22% and 7.34% weight respectively.
ARKQ is an actively managed ETF that seeks long-term growth of capital by investing under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of of autonomous technology and robotics companies that are relevant to the Fund’s investment theme. Autonomous technology and robotics companies are companies that the Adviser believes are expected to focus on, among other things, disruptive innovation in automation and manufacturing, transportation, energy, artificial intelligence, and materials.