Cathie Wood’s Latest Portfolio: 10 New Stock Picks in 2022

view original post

In this article we will discuss some new stock picks of Cathie Wood’s hedge fund. You can skip this part and go directly to see the top 5 New Stock Picks of Cathie Wood in 2022.

Despite huge criticism and losses, Cathie Wood’s hedge fund ARK Investment continues to attract investors amid promises of future growth. Bloomberg reports that the The ARK Innovation ETF received a whopping $366.7 million on Tuesday, the biggest inflow in a year. The fund also gained about 11% this week. In total, investors poured $447.4 million in the fund this week.

Cathie Wood’s hedge fund has released its first quarter 2022 13F filings. Some notable holdings of the fund are Shopify Inc. (NYSE:SHOP), Tesla, Inc. (NASDAQ:TSLA) and Coinbase Global, Inc. (NASDAQ:COIN). For this article we analyzed these filings and picked some important new stock picks of Cathie Wood’s fund.

Cathie Wood ARK Investment Management

Cathie Wood of ARK Investment Management

10. RedHill Biopharma Ltd (NASDAQ:RDHL)

RedHill Biopharma Ltd (NASDAQ:RDHL) is an Israel-based company which is known for its medicines for the treatment of gastrointestinal and infectious diseases. In the first quarter of 2022, Cathie Wood’s hedge fund bought 861,798 shares of RedHill Biopharma Ltd (NASDAQ:RDHL), which had a total worth of $2.17 million. RedHill Biopharma Ltd (NASDAQ:RDHL) recently announced that its investigational oral COVID therapy opaganib maintained the viability of host cells in lab studies and proved its effectiveness against the Omicron variant.

Out of 924 hedge funds in our database, just four funds had stakes in RedHill Biopharma Ltd (NASDAQ:RDHL) as of the end of the fourth quarter.

9. ATAI Life Sciences NV (NASDAQ:ATAI)

Cathie Wood bought 1.7 million new shares of ATAI Life Sciences NV (NASDAQ:ATAI) in the first quarter of 2022. The total value of these shares was $8.5 million. The clinical-stage company focuses on disease-modifying mental health treatments by researching both psychedelic and non-psychedelic compounds. Last month, Canaccord analyst Sumant Kulkarni decreased his price target for ATAI Life Sciences NV (NASDAQ:ATAI) to $27 from $28 but kept a Buy rating on the shares. The analyst said that the pullback in shares at that time was a good buying opportunity.

At the end of the fourth quarter of 2021, 16 hedge funds had stakes in ATAI Life Sciences NV (NASDAQ:ATAI), compared to 17 funds in the previous quarter.

8. Nio Inc – ADR (NYSE:NIO)

Shares of the Chinese electric vehicle company Nio Inc – ADR (NYSE:NIO) are down by a whopping 60% in the last 12 months. Still, Cathie Wood bought a new stake in the company. ARK added 420,057 shares of Nio Inc – ADR (NYSE:NIO) to its portfolio in the first quarter, valued at $8.84 million. In April, Nio Inc – ADR (NYSE:NIO) sold 5,074 units, down 49% on a month-over-month basis and 29% year over year. Morgan Stanley analyst Tim Hsiao said in a note to investors that Nio Inc – ADR (NYSE:NIO)’s vehicle production and delivery were “severely affected” by supply chain problems amid lockdowns in China. The analyst has an Overweight rating and a $34 price target on Nio Inc – ADR (NYSE:NIO).

Nio has been losing traction lately amid China’s crackdown on businesses. Nevertheless, Nio Inc – ADR (NYSE:NIO) remains an important stock pick of Cathie Wood, in addition to American companies like Shopify Inc. (NYSE:SHOP), Tesla, Inc. (NASDAQ:TSLA) and Coinbase Global, Inc. (NASDAQ:COIN).

A total of 30 hedge funds out of the 924 funds in Insider Monkey’s database had long positions in Nio Inc – ADR (NYSE:NIO) at the end of the fourth quarter. By the end of the last year, Ken Griffin’s Citadel Investment Group had a $189 million stake in Nio.

7. Global-E Online Ltd (NASDAQ:GLBE)

Global-E Online Ltd (NASDAQ:GLBE) is an Israel-based company that provides cross-border sales solutions. The company claims to use big-data and business intelligence to boost international traffic conversion for businesses. Global-E Online Ltd (NASDAQ:GLBE)’s stock is down a whopping 60 % in the last 6 months. Cathie Wood’s hedge fund added 563,078 shares of Global-E Online Ltd (NASDAQ:GLBE) to its portfolio in the first quarter of 2022. The total value of these shares was$19.02 million.

Overall, hedge fund sentiment around Global-E Online Ltd (NASDAQ:GLBE) was positive as of the end of the fourth quarter of 2021. Our database shows that 28 funds had stakes in the company, compared to 22 funds a quarter earlier.

Artisan Partners, a high value-added investment management firm, mentioned Global-E Online Ltd in its fourth quarter investor letter. The fund said:

“We added to several positions during the quarter including Global-E Online Ltd (NASDAQ:GLBE). Global-e online is a global e-commerce service platform enabling cross-border transactions across 200+ countries. It provides three critical elements: website localization, payments and logistics. For background, ~30% of a global brand’s online traffic is from international shoppers, though the portion of its international sales is no more than 5%-10% as brands struggle to overcome numerous cross-border challenges—different languages, currencies, payment methods, duties/taxes and shipping providers. There is no one-size-fits-all solution as each market is unique; hence, merchants of all sizes find a do-it-yourself cross-border strategy to be complex, costly and difficult to maintain. In our view, the capability of Global-e online’s platform to remove these frictions was recently validated by its strategic partnership with e-commerce platform giant Shopify, which also made an equity investment in the company. With strong current performance and the potential for accelerated growth once Global-e completes its technological integration with Shopify’s platform, we added to our GardenSM position.”

6. Fathom Digital Manufacturing Corp (NYSE:FATH)

Fathom Digital Manufacturing Corp (NYSE:FATH) is a 3D printing company. The company also provides plastic and metal additive manufacturing, computer numerical control machining, injection molding and tooling, precision sheet metal fabrication, design engineering, and chemical etching. Cathie Wood’s hedge fund bought 886,752 shares of Fathom Digital Manufacturing Corp (NYSE:FATH) in the first quarter, worth $5.5 million. Unlike Shopify Inc. (NYSE:SHOP), Tesla, Inc. (NASDAQ:TSLA) and Coinbase Global, Inc. (NASDAQ:COIN), in which Wood has huge investments, Fathom Digital Manufacturing Corp (NYSE:FATH) is a very small holding of ARK.

As of the end of the fourth quarter of 2021, 17 hedge funds tracked by Insider Monkey had stakes in Fathom Digital Manufacturing Corp (NYSE:FATH).

Click to continue reading and see Cathie Wood’s Latest Portfolio: 5 New Stock Picks in 2022.

Suggested Articles:

Disclosure. None. Cathie Wood’s Latest Portfolio: 10 New Stock Picks in 2022 is originally published on Insider Monkey.