Cathie Wood tech stock investment stayed pointed at Tesla even after the stock slid. Ark Investment Management held 2.76 million Tesla shares worth about $1.16 billion as of June 30, then added an estimated 450,000 more shares between June 21 and Aug. 5 as Tesla weakened.
That buying left Ark with a larger position while Tesla was down roughly 23% year to date through Aug. 19. For investors tracking Wood’s strategy, the filing shows she kept leaning into the same autonomy bet instead of trimming exposure after the stock moved to the bottom of the Magnificent Seven.
Ark’s June 30 Tesla stake
2.76 million shares is the size of Ark Investment Management’s Tesla position in its second-quarter filing, and the stake was worth approximately $1.16 billion at the end of June. The firm’s holdings made Tesla one of its largest disclosed positions even before the later buying spree.
450,000 shares is Ark’s estimated additional purchase between June 21 and Aug. 5, valued at roughly $170 million to $180 million. The timing matters because it puts the new buying inside a window when Tesla’s stock was already under pressure, rather than after a rebound.
23% year to date was Tesla’s decline through Aug. 19, and it ranked last among the Magnificent Seven over that stretch. Cathie Wood kept buying anyway, extending a position that had already been built around Tesla’s autonomy story instead of its EV sales alone.
Tesla’s Q2 numbers and margin squeeze
25% year over year was Tesla’s delivery growth in Q2, when it shipped 480,126 vehicles. The company also reported $28.24 billion in revenue, but adjusted earnings came in at $0.33 per share, well below the $0.54 per share consensus estimate.
1.4% was Tesla’s operating margin in Q2, a thin level for a company still spending heavily on AI, autonomy, and robotics. June 2025 brought the launch of Robotaxi, and Tesla said it kept expanding and refining that service in the first half of 2026 while starting Cybercab production at Gigafactory Texas during Q2.
Ark’s 2029 Tesla valuation
$2,600 per share is Ark’s published 2029 target for Tesla, with a $2,000 bear case and a $3,100 bull case around it. Ark also estimates that nearly 90% of Tesla’s enterprise value and earnings could come from robotaxis by 2029, which leaves the stock’s long-term value tied to whether that business scales fast enough.
$350 per share was Ark’s earlier estimate for Tesla in 2029 without the robotaxi opportunity. That gap is the whole trade: if Robotaxi and Cybercab do not become a meaningful recurring business, Wood’s model points to a far lower outcome than the current target implies.
