Ark Invest maintains $1.16 billion Tesla stake amid robotaxi focus

Ark Investment Management, led by Cathie Wood, maintained a significant position in Tesla as of the end of the second quarter, holding 2.76 million shares valued at approximately $1.16 billion. Despite Tesla's stock underperforming relative to other 'Magnificent Seven' companies in 2026, Ark reportedly increased its holdings by purchasing an estimated 450,000 shares between late June and early August.

Ark's investment thesis focuses on Tesla's potential in autonomy rather than just electric vehicle sales. The firm's valuation model anticipates that nearly 90% of Tesla's enterprise value and earnings could stem from robotaxis by 2029. This outlook persists even as Tesla faces challenges with profitability and operating margins due to heavy spending on AI and robotics.

Other institutional movements regarding Tesla include Life Planning Partners Inc, which reduced its position by 76.5% during the second quarter, leaving the firm with 658 shares.