Special purpose acquisition companies (SPACs) were a hot topic for investors in 2020 and continue to be a big story in 2021. While SPACs have lost some of the initial buzz surrounding them, some of the larger names going public via this method are attracting interest from mutual funds and ETFs.
Ark Funds CEO Cathie Wood has been adding several SPACs to the company’s ETFs. Here is a look at 10 SPACs and former SPACs that are owned in the Ark Funds.
DraftKings: Online sports betting company DraftKings Inc (NASDAQ:DKNG) is held in two Ark Funds ETFs. The Ark Next Generation Internet ETF (NYSE:ARKW) owns 1.38 million shares of DraftKings valued at $98.7 million. The stock is the 30th largest holding in the ETF and represents 1.3% of the fund’s assets. DraftKings is also held in the Ark Fintech Innovation ETF (NYSE:ARKF). The ARKF ETF owns over 630,000 shares of DraftKings valued at $45.2 million. The sports betting stock represents 1.1% of the ETF’s assets.
Related Link: Why Cathie Wood Is Bullish On DraftKings
Opendoor: Online real estate company Opendoor Technologies (NASDAQ:OPEN) was an early SPAC add for Wood and team dating back to it trading as ticker "IPOB." The Ark Next Generation ETF owns over 6.2 million shares of Opendoor valued at $170 million. The Opendoor position in ARKW is the ninth largest and represents 2.3% of the assets. Opendoor is also held in the Ark Fintech Innovation ETF, which owns 4.2 million shares valued at $115.1 million. Opendoor's is the 14th largest position in ARKF representing 2.7% of assets.
Skillz: Mobile gaming company Skillz (NYSE:SKLZ) offers a unique social offering of person-to-person wagering on games. The Ark Next Generation Internet EF owns over 3.7 million shares valued at nearly $111 million. The company is the 23rd largest position in the ETF, representing 1.5% of assets.
CM Life Sciences: Still trading as SPAC CM Life Sciences Inc (NASDAQ:CMLF), Ark Funds owns the company set to take Sema4 public. The Ark Genomic Revolution ETF (BATS:ARKG) owns 4.2 million shares of CMLF worth $73.5 million. The stock is the 39th largest holding in the ETF, representing 0.8% of assets.
Butterfly Network: Another SPAC that was added to the Ark Funds prior to completing its merger was Butterfly Network (NYSE:BFLY). The Ark Genomic Revolution ETF owns 4.1 million shares. The portable ultrasound company backed by Bill Gates and Baillie Gifford represents 0.8% of the funds assets and is the 38th largest holding in the ETF.
Virgin Galactic: Space travel company Virgin Galactic (NYSE:SPCE) is owned in the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ). The space stock is the 25th largest holding in the ETF with 1.7 million shares valued at $58.9 million. Virgin Galactic represents 1.7% of the fund’s assets.
Experience Investment: Urban air mobility company Blade is going public with Experience Investment Corp (NASDAQ:EXPC). The Ark Autonomous Technology ETF owns 2.8 million shares valued at $36 million. The SPAC is the 33rd largest holding in ARKQ representing 1.1% of assets.
One: Markforged, a 3D printing company, is going public with the SPAC One (NYSE:AONE). Ark Funds owns nearly 1.6 million shares worth $19.7 million. The SPAC is the 41st largest holding in ARKQ representing 0.6% of the assets in the ETF.
Atlas Crest Investment: Archer, an urban air mobility company, is going public with SPAC Atlas Crest Investment Corp (NYSE:ACIC). The Ark Autonomous ETF owns 1.4 million shares of ACIC valued at $16 million. The position in Atlas Crest is the 43rd largest in ARKQ and represents 0.5% of assets.
Desktop Metal: Shares of additive manufacturing 3D printing company Desktop Metal (NYSE:DM) is owned by The 3D Printing ETF (BATS:PRNT). Just under one million shares valued at $20.4 million are held in the PRNT ETF. The former SPAC is the 14th largest position in the ETF representing 3.7% of the assets.