ARK Investment Management · Cathie Wood
Latest 13F holdings with ERM3 risk decomposition — how much of the portfolio's return is market beta versus genuine stock-picking, and where the residual risk concentrates.
- Reported AUM
- $15.4B
- Holdings
- 186
- Top-10 weight
- 39%
- As of
- 2026-06-30
- Filed
- 2026-08-14
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-07-31 → 2026-06-30), modeled subset of holdings. Stock selection (residual return) detracted about 36% of the gross return over this window — the factor legs carried the book.
Gross
+25.2%
Market
+34.2%
Sector
+3.2%
Subsector
-1.7%
Stock selection
-9.0%
Top holdings
186 reported positions; top 15 shown. “Stock-specific” is the share of each position's variance not explained by market, sector, or subsector factors.
| # | Holding | Weight | Value | Stock-specific |
|---|---|---|---|---|
| 1 | TSLATesla, Inc. | 7.5% | $1.2B | 48% |
| 2 | AMDAdvanced Micro Devices, Inc. | 5.3% | $823M | 42% |
| 3 | SPCXSPACE EXPLORATION TECHNOLOGIES CORP | 5.0% | $765M | — |
| 4 | TEMTempus AI, Inc. Class A | 3.8% | $581M | 77% |
| 5 | HOODRobinhood Markets, Inc. Class A | 3.4% | $525M | 48% |
| 6 | CRSPCRISPR Therapeutics AG | 3.4% | $516M | 59% |
| 7 | SHOPShopify, Inc. Class A | 3.1% | $475M | 63% |
| 8 | TWSTTwist Bioscience Corp. | 3.0% | $468M | 78% |
| 9 | TXG10x Genomics Inc Class A | 2.5% | $384M | 84% |
| 10 | AMZNAmazon.com, Inc. | 2.5% | $379M | 46% |
| 11 | PLTRPalantir Technologies Inc. Class A | 2.4% | $375M | 58% |
| 12 | GOOGAlphabet Inc. Class C | 2.4% | $369M | 57% |
| 13 | COINCoinbase Global, Inc. Class A | 2.4% | $367M | 60% |
| 14 | RBLXRoblox Corp. Class A | 2.3% | $352M | 84% |
| 15 | BEAMBeam Therapeutics, Inc. | 2.3% | $351M | 60% |
92% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-08-14.
How concentrated is this book?
Quarter-end concentration across 39 filings from 2016-12-31 to 2026-06-30, with the latest filing set against this manager's own median.
- Effective N
- 39.4
- median 31.6
- Top 5 weight
- —
- no median
- Top 10 weight
- 39.5%
- median 47.6%
- Weight HHI
- —
- no median
Effective N is inverse-Herfindahl breadth, not a holding count: it falls well below the number of positions when one name dominates, which is the case worth seeing. This book held 186 positions at 2026-06-30.
Interrogate this portfolio
Ask the AI risk analyst what changed last quarter, where the concentration risk sits, or how your portfolio overlaps with Cathie Wood's.