Cathie Wood’s Ark Invest bought shares of pandemic darlings including Roku Inc, Roblox Corp, and Zoom that have fallen out of favor, according to a report by Reuters on Friday.

  • The asset manager’s core ARK Innovation ETF (ARKK.P) has plunged 43% this year, coming far behind the S&P 500’s 7.7% decline as the outlook of aggressive US policy tightening hurt the fund’s growth stocks.
  • In the current week, ARK acquired 100,642 shares of e-commerce firm Shopify Inc, 329,073 of Zoom, 739,082 of gaming platform Roblox, and 575,648 of streaming device manufacturer Roku.
  • Wood’s buying spree comes after an unexpected subscriber loss at Netflix Inc led to a selloff in stocks that prospered during COVID-19 lockdowns.
  • The asset manager disposed of more than half a million shares of Snap Inc before the company’s earnings.

Last Week, Cathie Wood emphasized her bullish outlook on the fund’s biggest holding, Tesla. ARK Innovation ETF’s holding in Tesla is valued at $969M or 10% of the fund’s weight. ARKK up +0.36%, ROKU down -0.44%, ZM down -0.069%