ARK Next Generation Internet ETF

ARK Invest

Part of ARK Invest

These are ARK Next Generation Internet ETF's own holdings, not the firm's. Percentages are of the stock positions in its latest filing — the fund's cash and bonds are not included. A fund that hunts for companies reshaping the internet rather than the internet as it exists today: it looks for businesses profiting from cloud computing, e-commerce, big data, mobile, artificial intelligence, digital payments and the internet of things, betting that computing and commerce are migrating out of hardware and onto the network. It is not tied to any single industry or geography, and its managers are free to hold whatever they believe is riding that shift. Unlike the firm's broader innovation fund, which sweeps across genomics, robotics and energy storage, this one keeps its lens trained specifically on the internet's own next generation. It launched on September 30, 2014, the same year its parent firm was founded, as one of the first actively managed ETFs — a structure that lets the managers trade on their own research rather than tracking an index. Cathie Wood, who founded ARK Invest and built the firm around technology themes like genomics, automation and fintech, has run the fund since its inception and remains its portfolio manager today. Her analysts score candidates on management, culture and barriers to entry, model how costs fall as production scales — a pattern the firm calls Wright's Law — and hold their bets on an unusually long horizon of about five years, concentrating the portfolio in a small set of companies they believe markets are underpricing.