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
- $13.1B
- Holdings
- 136
- Top-10 weight
- 48%
- As of
- 2025-12-31
- Filed
- 2026-03-16
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-01-31 → 2025-12-31), modeled subset of holdings. Roughly 23% of the gross return came from stock selection (residual return) — most of the return came from factor exposure, not selection.
Gross
+32.3%
Market
+19.4%
Sector
-0.5%
Subsector
+3.5%
Stock selection
+7.4%
Top holdings
136 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 | TSLA | 10.0% | $1.3B | 47% |
| 2 | SHOP | 4.9% | $640M | 63% |
| 3 | ROKU | 4.9% | $638M | 70% |
| 4 | COIN | 4.4% | $575M | 61% |
| 5 | PLTR | 4.4% | $574M | 55% |
| 6 | CRSP | 4.2% | $552M | 68% |
| 7 | AMD | 4.2% | $551M | 49% |
| 8 | HOOD | 4.2% | $544M | 51% |
| 9 | TER | 3.5% | $456M | 49% |
| 10 | TEM | 3.4% | $446M | 74% |
| 11 | RBLX | 3.0% | $392M | 79% |
| 12 | BEAM | 2.6% | $346M | 63% |
| 13 | CRCL | 2.5% | $328M | 89% |
| 14 | AMZN | 2.1% | $280M | 48% |
| 15 | ACHR | 2.0% | $264M | 66% |
100% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-03-16.
Interrogate this portfolio
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