The Only TSX Stocks Held by Cathie Wood of Ark Invest

Cathie Wood and Ark Invest have become very popular names among investors. Which Canadian names does she hold in her portfolio?

| More on:
Man holding magnifying glass over a document

Image source: Getty Images.

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

Cathie Wood became one of the most popular institutional investors in 2020 because of her aggressive style of investing. Over the course of the year, it seemed like she could do no wrong, as all her portfolios crushed the market. Unfortunately for Canadians, most of her positions are comprised of American-listed companies. However, there are three stocks she likes a lot that TSX investors will be able to buy as well.

This seems to be her favourite Canadian company

Shopify (TSX:SHOP)(NYSE:SHOP) is her largest Canadian holding. As of Ark Invest’s latest filing, Shopify was the seventh-largest position held by the firm, a position worth US$1.2 billion. What’s even more impressive is that Cathie Wood decided to double her overall position in the previous quarter. Since the start of the year, Ark Invest bought nearly 600,000 more shares of Shopify stock. Why does she like this company so much?

Shopify has proven time and time again that it is a winner. Since its IPO, Shopify stock has gained more than 3,500%! While investors may think this growth could indicate that Shopify’s best days are behind it, I would strongly disagree. In Q1 2021, Shopify reported a 110% year-over-year growth in its quarterly revenue. This shows that the company has managed to continue growing even after the COVID-19 pandemic. Cathie Wood loves this stock and it may be time for you to consider adding it to your portfolio as well.

This was a new position in 2020

Like many Canadian investors, Cathie Wood took note of the incredible run that Lightspeed (TSX:LSPD)(NYSE:LSPD) went on last year. During the back half of the stock’s 650% gain after the 2020 market crash, Cathie Wood decided to add the company into Ark Invest’s portfolio. This made Lightspeed only the second Canadian stock to feature in Ark Invests prolific portfolio.

Like Shopify, this company was a beneficiary of the COVID-19 pandemic. While many investors thought Lightspeed would suffer as a result of the lockdowns (hence its 70% drop last March), CEO Dax Dasilva was quick to act. At the start of the pandemic, Dasilva pulled out all the stops to ensure its merchants would be able to survive the pandemic. Lightspeed offered free services such as Lightspeed Delivery, Lightspeed eCommerce, and Lightspeed Loyalty. As a result, the company saw its value go through the roof, making shareholders very happy.

Are you interested in buying Amazon stock for $10?

The final position that Canadians can emulate isn’t a stock per se, but it’s an ETF. Cathie Wood holds all of the FAMANG stocks except for Google. This means that Ark Invest held positions in Facebook, Amazon, Microsoft, Apple, and Netflix as of the end of Q1 2021. Unfortunately, these stocks all trade on the American exchanges. However, Canadians can take advantage of the newly listed Evolve FANGMA Index ETF.

This ETF is the first of its kind, as no other firm offers a product that holds only the six big tech companies. When it was released earlier this month, Evolve set the price at a very affordable $10. This means that Canadians can start positions in six of the strongest market performers without breaking the bank.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Fool contributor Jed Lloren owns shares of Apple, Microsoft, and Shopify. David Gardner owns shares of Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and Netflix. Tom Gardner owns shares of Alphabet (A shares), Alphabet (C shares), Facebook, Netflix, and Shopify. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, Netflix, Shopify, and Shopify. The Motley Fool owns shares of Lightspeed POS Inc and recommends the following options: long January 2023 $1140 calls on Shopify, short January 2023 $1160 calls on Shopify, long January 2022 $1920 calls on Amazon, short March 2023 $130 calls on Apple, short January 2022 $1940 calls on Amazon, and long March 2023 $120 calls on Apple.

More on Tech Stocks

Arrow descending on a graph
Tech Stocks

2 Industries That Saw the Worst Decline Last Month

The TSX has been declining at a sharp angle since the beginning of June. And two industries (crypto and cannabis)…

Read more »

Dividend Stocks

TFSA Investors: Turn $1,000 Into $10,000 in 10 Years

10-fold growth within a decade is rare but not unheard of. You can capture this growth either by predicting a…

Read more »

Growth from coins
Tech Stocks

Got $1,000? Buy These 3 Under-$20 Growth Stocks to Earn Higher Returns

These under-$20 growth stocks can deliver solid returns in the long run.

Read more »

Shopping card with boxes labelled REITs, ETFs, Bonds, Stocks
Tech Stocks

TFSA Investors: 3 TSX Stocks You’ll Regret Not Buying on the Dip

Among wide range of investments allowed in a TFSA, now is the time to invest in stocks.

Read more »

Tired or stressed businessman sitting on the walkway in panic digital stock market financial background
Tech Stocks

2 Stocks That Lost Over 50% in 2022

The recovery of the TSX’s tech superstar and a promising high-growth stock that lost more than 50% in 2022 is…

Read more »

Man holding magnifying glass over a document
Tech Stocks

Why BlackBerry Stock Looks Way Too Undervalued After Q1 Earnings

BB stock hasn’t seen any appreciation lately, despite its continued progress on the IVY platform and early signs of the…

Read more »

A stock price graph showing declines
Tech Stocks

BlackBerry Q1 Earnings: The Declining Revenue Streak Continues!

Will BB stock break below $6?

Read more »

A bull outlined against a field
Tech Stocks

After the Recent Fall, it’s Time to Turn Bullish on 2 TSX Growth Stocks

With the kind of lows these TSX stocks have seen, the negatives appear to be priced in.

Read more »