Ark Invest's flagship fund realized $3.5 billion in losses in a yr. Here were its 10 biggest losers.

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Ark Invest’s Innovation ETF realized $3.5 billion in losses within the fiscal yr ending July 2024.
Ark Invest saw an collected lack of $22 billion across its suite of ETFs.
Cathie Wood said in an X post this summer that trading losses are useful for offsetting future taxes.

Cathie Wood’s Ark Invest recently filed its annual report for its fiscal yr ending July 31, and it reveals some steep losses.

Ark’s flagship Innovation ETF realized $3.5 billion in losses from July 31, 2023, through July 31, 2024.

Across Ark’s suite of eight innovation and disruption-focused ETFs, the overall collected loss was $21.7 billion, in line with the annual report.

The past few years have been tough for the sorts of speculative growth stocks Ark funds have focused on. The losses for its funds followed the deflation of the speculative trade in 2021, as investors fled the sorts of money-losing corporations by which Ark Invest is heavily invested amid high inflation and rising rates of interest.

The Financial Times flagged a now-deleted thread on X in July, by which Ark CEO Cathie Wood defended her fund’s losses by arguing that they are an “under-appreciated asset related to our strategies.”

“Consequently, our trading-related capital tax losses should offset trading-related capital tax gains for years, an under-appreciated asset related to our strategies,” Wood said within the post.

The Ark Innovation ETF is down 9% year-to-date and off 70% from its record high.

Ark Invest didn’t reply to a request for comment.

Listed below are the stocks in Ark Invest’s flagship ETF that saw the largest realized losses for the fiscal yr ending July 31.

10. Veracyte