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Ark Invest’s Innovation ETF posted $3.5 billion in losses in the fiscal year ending July 2024.
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Ark Invest saw an accumulated loss of $22 billion across its suite of ETFs.
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Cathie Wood said in an X-post this summer that trading losses are useful to offset future taxes.
Cathie Wood’s Ark Invest recently filed its annual report for the fiscal year ended July 31, and it reveals some steep losses.
Ark’s flagship Innovation ETF posted $3.5 billion in losses between July 31, 2023 and July 31, 2024.
According to the annual report, the total cumulative loss for Ark’s suite of eight innovation and disruption-focused ETFs was $21.7 billion.
The past few years have been tough for the kind of speculative growth stocks the Ark funds have focused on. The losses for his funds followed the deflation of speculative trading in 2021, as investors fled the type of money-losing companies that Ark Invest invested heavily in amid high inflation and rising interest rates.
The Financial Times flagged a now-deleted thread on
“As a result, our trading-related capital tax losses should offset trading-related capital tax gains for years, an undervalued asset associated with our strategies,” Wood said in the post.
The Ark Innovation ETF is down 9% this year and down 70% from its all-time high.
Ark Invest did not respond to a request for comment.
Here are the stocks in Ark Invest’s flagship ETF that had the largest realized losses for the fiscal year ending July 31.
10. Verracyte
ticker: VCIT
Ark’s realized loss: $6.8 million
9. PagerDuty
ticker: PD
Ark’s realized loss: $10.0 million
8. Beam therapy
ticker: BEAM
Ark’s realized loss: $47.3 million
7. Twist Biosciences
ticker: TWST
Ark’s realized loss: $50.0 million
6. 2H
ticker: Deleted (bankruptcy)
Ark’s realized loss: $195.4 million
5. UiPath
ticker: PATH
Ark’s realized loss: $270.9 million
4. Invitation
ticker: Deleted (bankruptcy)
Ark’s realized loss: $453.4 million
3. Roku
ticker: ROKU
Ark’s realized loss: $467.3 million
2. Ginkgo Bioworks
ticker: DNA
Ark’s realized loss: $510.3 million
1. Teladoc Health
ticker: TDOC
Ark’s realized loss: $1.50 billion
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