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All stocks in Cathie Wood’s Ark Innovation fund are in a bear market except 2

Catherine Wood, Managing Director of ARK Investment Management LLC, speaks at the Milken Institute Global Conference in Beverly Hills, Calif., Monday, October 18, 2021.

Kyle Grillot | Bloomberg | Getty Images

It’s been a dismal week for Cathie Wood’s flagship fund, Ark Innovation, which left almost all of its holdings in the bear market.

Wood’s main exchange-traded fund, which trades under the ticker ARKK, is down more than 12% this week, its worst week since February. Ark Innovation is down 6% on Friday.

The painful losses have left all but two of Wood’s components over 20% of their recent high, meaning they are in a bear market.

Just Trimble and Tesla are within 20% of their peak, but the pair is over 10% of their 52-week highs. Berkeley Lights, Proto Labs, and Skillz are all over 80% below their 52-week highs.

Wood spoke to CNBC this week and kept his belief in Ark’s strategies, which focus on “disruptive innovation” in five digital platforms: DNA sequencing, robotics, energy storage, artificial intelligence and blockchain technology.

Wood said his strategies are expected to quadruple over the next five years, after underperforming this year.

The portfolio manager expects the next few years to bring “the most spectacular period of innovation we’ve ever seen,” said Wood.

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