Cathie Wood's ARK: Tesla and SpaceX together are 16% of the fund
Tesla (9.62%) and SpaceX (6.28%) — both run by Elon Musk — together make up roughly 16% of Cathie Wood's ARK Invest fund, the top two positions among 47 holdings. Wood maintains a 2029 price target of $2,600 for Tesla, implying over 700% upside from current levels, based largely on robotaxi and FSD expansion rather than Optimus.
The latest portfolio disclosure reconfirms just how concentrated Cathie Wood's bullish bet on Elon Musk remains. In ARK Invest's flagship fund, Tesla holds the largest weighting at 9.62%, followed by SpaceX at 6.28% — meaning two companies led by the same CEO account for about 16% of a portfolio spread across 47 holdings.
Wood's Tesla thesis leans more on robotaxi and FSD expansion than on the Optimus humanoid robot. ARK has held a 2029 price target of $2,600 per share for Tesla, implying upside of more than 700% from current levels. The case rests on Musk's own claim that Tesla's robotaxi fleet will scale faster than Waymo's, reaching as many as half of major U.S. cities by year-end.
That target remains ARK's own bull-case scenario, unproven at a moment when Cybercab is only weeks into commercial service in Austin and still under an active NHTSA audit. Still, dedicating a double-digit share of a diversified fund to two Musk-led companies continues to be cited in markets as a signal of a major active manager's conviction.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.