Wisconsin Investment Board adds third ETF from Cathie Wood’s ARK Investment Management

The Wisconsin State Investment Board held shares of three exchange-traded funds from Cathie Wood’s ARK Investment Management, according to a report for the quarter ended June 30, one more than in a report for the previous quarter. .

Shares of ARK Next Generation Internet ETF, which were not listed in SWIB’s 13F holdings report for the quarter ended March 31, ranked among the holdings listed in its 13F report for the quarter ended June 30 , which was filed with the Securities and Exchange Commission on Monday.

SWIB held 358,400 shares of the ARK Next Generation Internet ETF worth $17.6 million. The filing also indicated that SWIB continued to hold shares of both the ARK Innovation ETF and the ARK Genomic Revolution ETF. Together, the dollar value of the shares of the three ARK ETFs that SWIB held as of June 30 totaled just under $109 million.

As of December 31, SWIB had $160 billion in assets, including Wisconsin’s $140.9 billion retirement system.

“These ETFs are best used with a long-term horizon because they try to invest in companies that can benefit from long-term disruptive trends,” said Todd Rosenbluth, head of research at VettaFi, a data and analytics provider. analysis, adding that the three ETFs appeared to be “extremely small” slices of SWIB’s overall portfolio.

“And if these ETFs are small slices of the portfolio, then patience may be warranted, and they may take longer to let the disruptive technology thesis play out,” Rosenbluth said, adding that adoption by ETF ARK’s SWIB suggests it is “increasingly confident in the disruptive technology theme and confident in management’s ability to identify winners.”

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