ARK Invest, led by Cathie Wood, added on Monday another 35,000 shares of the world’s second-largest electric vehicle maker, BYD. The company is now the 26th biggest holding out of 39 companies in ARK’s ETF, ARKQ. The Chinese manufacturer has now a 1.47% weight of ARKQ’s portfolio with total holdings valuing $24,534,979.98, as of March 28.
On Friday, the Fund trimmed its position on Tesla selling 145,977 shares ($147M) and initiated a position on NIO, after entering the other Chinese EVs Xpeng and BYD Co. Via ARQ ETF, Wood added 420,057 shares ($8.36M) of NIO one day after the company reported its Q4 and 2021 Earnings Results. NIO’s share price closed 9.4% lower at $19.9 a share on Friday being down 40.5% year-to-date.
Cathie Wood had bought recently nearly 65,000 BYD shares. Before that, the last time that the fund bought shares on the Warren Buffett-backed company was on November 30th, 2021, with 98,964 shares being added at a price per share of around $75.
BYD announced last week that it is building its next-generation fleets on the NVIDIA’S DRIVE Hyperion architecture. This platform, based on DRIVE Orin, is now in production, and powering a wide ecosystem of 25 EV makers building software-defined vehicles on high-performance, energy-efficient AI compute. The open DRIVE Hyperion 8 platform allows these companies to individualize this programmable architecture to their needs, leveraging end-to-end solutions to accelerate autonomous driving development.