Star investor Cathie Wood bought shares in chip manufacturer Nvidia from her flagship fund’s portfolio in January this year – and thus missed the stock’s recent rally.
At the time, Nvidia was valued too highly for the star fund manager. But Nvidia stock has rallied lately, up around $560 billion in market cap since February of this year. Since the beginning of the month alone, the share price has risen by almost 37 percent.
Who has not benefited from it is Cathie Wood. The star investor had initially reduced the Nvidia position from over 750,000 shares to under 39,000 shares in November 2022 – and finally removed the share from the portfolio in January 2023. In February, Wood justified her decision against the title in an interview with CNBC with the fact that although she still believes in the success of the company, it is currently rated very highly.
Wood was one of the early investors in chip manufacturer Nvidia. When it launched Ark Innovation ETF (ARKK), the well-known tech investor’s flagship fund, in 2014, Nvidia was there — as one of the top positions. And Wood has made good money on the increase in value of the title: Loud Bloomberg Nvidia shares alone have contributed 13 percent to the 112 percent overall increase in value since the ARKK was launched. This makes Nvidia one of the fund’s performance drivers, as only the shares of Tesla, Grayscale Bitcoin Trust and Invitae contributed more to the ARKK’s price gain. However, this is of little help to investors who have only recently entered the equity fund. From their perspective, Wood has left profits at Nvidia.
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