2023-09-06 08:45:00 ET
Cathie Wood is the founder and CEO of Ark Invest, an asset management firm that invests in innovative companies and disruptive technologies. The firm offers several exchange-traded funds to clients, including its flagship Ark Innovation ETF , which has returned 39% year to date. But the Ark Fintech Innovation ETF is up 49% this year, and the firm is leaning into those gains.
Throughout August, Ark trimmed its holdings in Tesla -- though it remains the portfolio's largest position -- and redeployed capital across several fintech companies, including Block (NYSE: SQ) and Adyen (OTC: ADYE.Y) . In terms of asset allocation, Block currently ranks no. 6 and Adyen ranks no. 51 out of 125 total holdings.
Here's what investors should know about these two growth stocks.
For further details see:
Cathie Wood's Ark Invest Is Selling Tesla Stock and Buying 2 Remarkable Fintech Growth Stocks