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Tesla Loses Top Spot in Cathie Wood’s Flagship Fund

  • Elon Musk’s firm was top ARKK position on most days since 2017
  • Roku pips Tesla to take the pole position in ARKK’s holdings
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Why This Tesla Bull Cut Its Price Target by 29%

Tesla Inc. has lost its crown jewel status in Cathie Wood’s main fund for the first time in about four-and-a-half years.

Elon Musk’s company had commanded the pole position by market value in the ARK Innovation ETF, an exchange-traded fund known as ARKK, on most days since at least 2017, according to data compiled by Bloomberg. That changed on Thursday, when electronics product maker Roku Inc., a firm with $13.2 billion of market value, pipped it to take the top spot.