Yahoo Finance
Cathie Wood, head of Ark Investment Management, has a history of buying stocks shortly after their IPOs.
In recent years, Wood’s Ark funds have invested in newly public companies such as TempusAI(TEM), Coinbase (COIN), and CoreWeave (CRWV), reflecting her strategy of gaining early exposure to high-growth businesses in artificial intelligence, cryptocurrency, and cloud computing.
Now, Wood is making anotherIPObet, buying more than $529 million worth ofSpaceXstock.
In 2025, the flagship Ark Innovation ETF gained 35.49%, far outpacing theS&P 500’s return of 17.88% in the same period.
But so far this year, Wood’s flagshipArk Innovation ETF(ARKK) is down 2.85%, while the S&P 500 surged 8.56%,Yahoo Finance datashows.
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020.
However, her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.
Those swings have weighed on Wood’s long-term gains.
As of June 12, the Ark Innovation ETF has delivered a five-year annualized return of-8.06%, while theS&P 500has an annualized return of11.84%over the same period, according to data fromMorningstar.
Wood focuses on high-tech companies across artificial intelligence,blockchain, biomedical technology, and robotics.
She thinks these businesses have strong growth potential, though theirvolatilityoften causes fluctuations in the Ark’s funds.
According to Morningstar analystBella Albrecht, two of Wood’s Ark funds were among the worst-performing ETFs in the first quarter of 2026.
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