DOCSLIB.ORG

Fintech Innovation (ARKF) HOLDINGS As of 09/28/2021

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fintech Innovation (ARKF) HOLDINGS As of 09/28/2021 Fintech Innovation (ARKF) HOLDINGS As of 09/28/2021 Company Ticker CUSIP Shares Market Value($) Weight(%) 1 SQUARE INC - A SQ 852234103 1,415,621 365,385,936.31 10.69 2 SHOPIFY INC - CLASS A SHOP 82509L107 149,720 216,167,233.20 6.32 3 COINBASE GLOBAL INC -CLASS A COIN 19260Q107 802,357 186,339,389.68 5.45 4 ZILLOW GROUP INC - C Z 98954M200 2,053,549 185,784,578.03 5.43 5 SEA LTD-ADR SE 81141R100 475,529 159,901,381.54 4.68 6 PAYPAL HOLDINGS INC PYPL 70450Y103 574,828 157,152,226.92 4.60 7 ADYEN NV ADYEN BZ1HM42 41,208 127,459,847.22 3.73 8 OPENDOOR TECHNOLOGIES INC OPEN 683712103 5,909,304 124,095,384.00 3.63 9 TWILIO INC - A TWLO 90138F102 354,240 122,255,308.80 3.58 10 MERCADOLIBRE INC MELI 58733R102 66,677 117,894,937.55 3.45 11 UIPATH INC - CLASS A PATH 90364P105 1,670,379 90,968,840.34 2.66 12 TELADOC HEALTH INC TDOC 87918A105 668,940 90,132,975.60 2.64 13 JD.COM INC-ADR JD 47215P106 1,145,373 87,540,858.39 2.56 14 PINTEREST INC- CLASS A PINS 72352L106 1,610,056 86,572,711.12 2.53 15 DOCUSIGN INC DOCU 256163106 295,811 78,040,858.02 2.28 16 Z HOLDINGS CORP 4689 6084848 11,124,676 74,585,440.35 2.18 17 FACEBOOK INC-CLASS A FB 30303M102 210,713 74,503,902.54 2.18 18 DRAFTKINGS INC - CL A DKNG 26142R104 1,418,825 72,913,416.75 2.13 19 STONECO LTD-A STNE G85158106 1,825,646 69,867,472.42 2.04 20 INTUIT INC INTU 461202103 122,932 69,703,673.32 2.04 21 SILVERGATE CAPITAL CORP-CL A SI 82837P408 622,111 68,786,813.27 2.01 22 TCS GROUP HOLDING-GDR REG S TCS LI 87238U203 747,039 66,411,767.10 1.94 23 WORKDAY INC-CLASS A WDAY 98138H101 246,082 64,911,509.96 1.90 24 LENDINGCLUB CORP LC 52603A208 2,226,945 65,071,332.90 1.90 25 PINDUODUO INC-ADR PDD 722304102 659,750 63,547,120.00 1.86 26 ROBINHOOD MARKETS INC - A HOOD 770700102 1,416,836 63,417,579.36 1.85 27 INTERCONTINENTAL EXCHANGE IN ICE 45866F104 500,944 59,431,996.16 1.74 28 DISCOVERY LTD DSY 6177878 6,714,014 58,438,202.82 1.71 29 BILL.COM HOLDINGS INC BILL 090043100 198,127 53,666,660.49 1.57 30 ETSY INC ETSY 29786A106 235,339 53,134,839.42 1.55 31 PALANTIR TECHNOLOGIES INC-A PLTR 69608A108 1,781,210 48,929,838.70 1.43 32 FARFETCH LTD-CLASS A FTCH 30744W107 1,106,859 45,303,738.87 1.33 33 TENCENT HOLDINGS LTD-UNS ADR TCEHY 88032Q109 733,938 44,282,152.17 1.30 34 SNAP INC - A SNAP 83304A106 494,632 39,610,130.56 1.16 35 AMAZON.COM INC AMZN 023135106 8,650 29,460,170.00 0.86 36 JSC KASPI.KZ GDR-REG S KSPI BMXZ8G7 205,683 22,337,173.80 0.65 37 DREYFUS GOVT CASH MAN INS X9USDDGCM 14,003,983 14,003,983.02 0.41 38 TOAST INC-CLASS A TOST 888787108 14,813 813,233.70 0.02 39 YEAHKA LTD 9923 BL58D39 37,200 126,183.52 0.00 40 SOUTH AFRICAN RAND ZAR 137 9.15 0.00 The principal risks of investing in ARK ETFs include equity, market, management and non-diversification risks, as well as fluctuations in market value and net asset value ("NAV"). Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ETF before investing. This and other information are contained in each ETF's prospectus, which may be obtained by contacting the ETF's transfer agent The Bank of New York Mellon or by clicking here. Please read the prospectus carefully before you invest. The market price of ETF shares may differ significantly from their NAV during periods of market volatility. ETF shares may only be redeemed directly with the ETF at NAV by Authorized Participants, in very large creation units. Holdings are subject to change without notice and are not a recommendation to buy or sell any security. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns. ©2021, ARK Investment Management LLC. All content is original and has been researched and produced by ARK Investment Management LLC unless otherwise stated. No part of this content may be reproduced in any form, or referred to in any other publication, without the express written permission of ARK Investment Management LLC. All statements made regarding companies, securities or other financial information on this site or any sites or articles relating to ARK Investment Management LLC are strictly beliefs and points of view held by ARK Investment Management and are subject to change without notice. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product..
Load more

Recommended publications
  • Quarterly Commentary—Artisan Developing World Fund
    QUARTERLY Artisan Developing World Fund FactCommentary Sheet Investor Class: ARTYX | Advisor Class: APDYX | Institutional Class: APHYX As of 30 September 2018 NAFTA resolution, the future policy direction of President-Elect Andrés Manuel López Obrador and the direction of monetary Portfolio Management policy in Mexico which is likely to favor shallow rate cuts and stable Lewis S. Kaufman, CFA net interest margins for the bank. Visa continues to benefit from higher discretionary spending in the US, and strength in the emerging markets as visible in the company’s cross-border business. Dear Fellow Shareholder: Key detractors from performance for the quarter included Chinese Market Backdrop educational services provider TAL Education Group, Chinese Internet firm Tencent, surveillance and security provider Hangzhou Artisan Developing World Fund (Investor Class) returned -5.66% for Hikvision Digital Technology, Argentine bank Grupo Financiero the quarter ended September 30, 2018, versus -1.09% for the MSCI Galicia and Macau casino operator Galaxy Entertainment Group. Emerging Markets Index (all returns in USD unless stated TAL suffered as the Chinese government provided updated policy otherwise). Since June 30, 2015, Artisan Developing World Fund guidance on the education sector, which is likely to result in more has returned 15.62% cumulatively, versus 16.47% for the MSCI restrictive standards for new teachers, course offerings and Emerging Markets Index. Muted market returns mask a varied and classroom utilization, and which could pressure margins and school at times tumultuous emerging markets backdrop, sparked by US expansion in the near term even as it benefits industry leaders trade tensions with China and a challenging external environment.
    [Show full text]
  • Mercadolibre Annual Report 2021
    MercadoLibre Annual Report 2021 Form 10-K (NASDAQ:MELI) Published: March 1st, 2021 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33647 MercadoLibre, Inc. (Exact name of Registrant as specified in its Charter) Delaware 98-0212790 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) Pasaje Posta 4789, 6th Floor Buenos Aires, Argentina, C1430EKG (Address of registrant’s principal executive offices) (Zip Code) (+5411) 4640-8000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share MELI Nasdaq Global Select Market 2.375% Sustainability Notes due 2026 MELI26 The Nasdaq Stock Market LLC 3.125% Notes due 2031 MELI31 The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
    [Show full text]
  • Graham & Doddsville
    Graham & Doddsville An investment newsletter from the students of Columbia Business School Inside this issue: Issue XXXIV Fall 2018 From Graham to Tweedy, Browne Company Tweedy, Browne Buffett and Beyond Company is a value- Omaha Dinner P. 3 oriented asset manager that Howard Marks manages domestic, Book Signing P. 4 international, and Tweedy, Browne global equity portfolios for Company P. 6 individuals, family Student groups, and Investment Ideas P. 17 institutions from all over the world. The Scott Miller P. 21 firm was one of the Clockwise from top left: Roger De Bree; Andrew Ewert ‘07; Frank Hawrylak, few investment firms Steve Tusa P. 28 CFA; Jay Hill, CFA; Bob Wyckoff; John Spears; Tom Shrager; Amelia Koh ‘16 mentioned by Warren Buffett in his Editors: (Continued on page 6) Ryder Cleary MBA 2019 Scott Miller, Greenhaven Road Capital Gregory Roberson, Esq. MBA 2019 Scott Miller formally launched long-biased value hedge fund Greenhaven Road Capital in 2011. Prior to founding David Zheng Greenhaven, Mr. Miller was the Co-Founder and CFO/Chief of MBA 2019 Strategy of Acelero Learning, a Head Start education services Frederic Dreyfuss company that has grown to over 1,200 employees. He was MBA 2020 previously an Analyst at Litmus Capital, an Associate at NewSchools Venture Fund, and has further experience as a Sophie Song, CFA business owner-operator. Mr. Miller earned a B.A. in Political MBA 2020 Science from the University of Pennsylvania, an M.B.A. from Scott Miller the Stanford University Graduate School of Business, and an John Szramiak MBA 2020 (Continued on page 21) Steve Tusa, Wall Street’s GE Bear Visit us at: www.grahamanddodd.com Rolf Heitmeyer www.csima.info JP Morgan’s Steve Tusa is Institutional Investor magazine’s #1 ranked analyst covering the Electrical Equipment & Multi- Industry sector.
    [Show full text]
  • Release Date: 06-30-2021
    Release Date: 06-30-2021 .......................................................................................................................................................................................................................................................................................................................................... Foreign Large Growth The investment seeks to provide long-term capital as of 03-31-21 % Assets as of 03-31-21 % Mkt Cap appreciation. U.S. Stocks 12.2 Large Giant The fund invests predominantly in the stocks of Non-U.S. Stocks 86.9 ........................................................ Mid Large companies located outside the United States and is Bonds 0.0 Cash 0.7 Medium expected to diversify its assets in countries across Small Other 0.3 Small developed and emerging markets. In selecting stocks, the ........................................................ fund's advisors evaluate foreign markets around the world Value Blend Growth Micro and choose large-, mid-, and small-capitalization companies considered to have above-average growth potential. The fund uses multiple investment advisors. as of 03-31-21 % Assets as of 03-31-21 % Fund ASML Holding NV 6.82 Americas 17.84 ........................................................................................................ Tencent Holdings Ltd 5.38 North America 13.38 Initial Inception Date 08-13-01 MercadoLibre Inc 4.09 Latin America 4.46 Management Company Baillie Gifford Overseas Limited Tesla Inc 3.49 Greater Europe
    [Show full text]
  • Portfolio Holdings Listing Fidelity Advisor Equity Growth Fund As Of
    Portfolio Holdings Listing Fidelity Advisor Equity Growth Fund DUMMY as of July 30, 2021 The portfolio holdings listing (listing) provides information on a fund’s investments as of the date indicated. Top 10 holdings information (top 10 holdings) is also provided for certain equity and high income funds. The listing and top 10 holdings are not part of a fund’s annual/semiannual report or Form N-Q and have not been audited. The information provided in this listing and top 10 holdings may differ from a fund’s holdings disclosed in its annual/semiannual report and Form N-Q as follows, where applicable: With certain exceptions, the listing and top 10 holdings provide information on the direct holdings of a fund as well as a fund’s pro rata share of any securities and other investments held indirectly through investment in underlying non- money market Fidelity Central Funds. A fund’s pro rata share of the underlying holdings of any investment in high income and floating rate central funds is provided at a fund’s fiscal quarter end. For certain funds, direct holdings in high income or convertible securities are presented at a fund’s fiscal quarter end and are presented collectively for other periods. For the annual/semiannual report, a fund’s investments include trades executed through the end of the last business day of the period. This listing and the top 10 holdings include trades executed through the end of the prior business day. The listing includes any investment in derivative instruments, and excludes the value of any cash collateral held for securities on loan and a fund’s net other assets.
    [Show full text]
  • Roger A. Ikeda, Et Al. V. Baidu, Inc., Et Al. 20-CV-02768-Order Granting
    Case 5:20-cv-02768-LHK Document 60 Filed 04/07/21 Page 1 of 31 1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 SAN JOSE DIVISION 11 12 ROGER A. IKEDA, et al., Case No. 20-CV-02768-LHK 13 Plaintiffs, ORDER GRANTING MOTION TO DISMISS WITH LEAVE TO AMEND 14 v. Re: Dkt. No. 50 15 BAIDU, INC. et al., 16 Defendants. 17 Lead Plaintiff Robert J. Allustiarti, individually and on behalf of all other persons similarly United States District United States Court Northern District of CaliforniaNorthern of District 18 situated (“Plaintiff”), alleges that Defendants Baidu, Inc.; Yanhong Li; and Cheng-Chun Yu 19 (collectively, “Defendants”) violated federal securities laws. Before the Court is Baidu’s motion to 20 dismiss Plaintiff’s Amended Complaint. ECF No. 50. Having considered the parties’ submissions, 21 the relevant law, and the record in this case, the Court GRANTS Baidu’s motion to dismiss with 22 leave to amend. 23 I. BACKGROUND 24 A. Parties 25 Plaintiff sues Defendant Baidu, Inc. (“Baidu”), which is a Cayman Islands corporation with 26 its headquarters in Beijing, China. ECF No. 41 (“AC”) ¶ 25. Since at least 2005, Baidu has 27 1 28 Case No. 20-CV-02768-LHK ORDER GRANTING MOTION TO DISMISS WITH LEAVE TO AMEND Case 5:20-cv-02768-LHK Document 60 Filed 04/07/21 Page 2 of 31 1 sponsored American Depositary Shares (“ADSs”) that trade on the NASDAQ. Id. ¶ 26. 2 Plaintiff also sues Defendants Yanhong Li (“Li”) and Cheng-Chun Yu (“Yu”) (collectively, 3 “the Individual Defendants”).
    [Show full text]
  • Vanguard International Growth Adm VWILX
    Release Date: 06-30-2021 Vanguard International Growth Adm VWILX Category Overall Morningstar RatingTM Morningstar Return Morningstar Risk Foreign Large Growth High High ★★★★★ Out of 384 Foreign Large Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details. Investment Information from investment’s prospectus Morningstar Proprietary Statistics Investment Objective & Strategy 1-Year 3-Year 5-Year 10-Year Morningstar Rating — The investment seeks to provide long-term capital appreciation. The ★★★★★ ★★★★★ ★★★★★ fund invests predominantly in the stocks of companies located outside Fund Rank Percentile 1 3 4 4 the United States and is expected to diversify its assets in countries Out of # of Investments 445 384 323 225 across developed and emerging markets. In selecting stocks, the fund's as of 03-31-21 advisors evaluate foreign markets around the world and choose large-, Portfolio Analysis mid-, and small-capitalization companies considered to have above- Composition as of 03-31-21 % Assets Morningstar Style BoxTM as of 03-31-21 % Mkt Cap average growth potential. The fund uses multiple investment advisors. U.S. Stocks 12.25 Giant 65.76 •Non-U.S. Stocks 87.32 Large 28.12 Broad Asset Class: International Stocks •Bonds 0.00 Medium 6.03 •Cash 0.65 Small 0.09 Shares of ownership in corporations headquartered outside of the U.S. •Other 0.30 • Micro 0.00 Notes This material is authorized for client use only when preceded or accompanied by a Disclosure Statement, a current plan performance Top 10 Holdings as of 03-31-21 % Assets Statistics as of 03-31-21 Stk Port Avg S&P 500 Category summary, and a fund prospectus and/or informational brochure ASML Holding NV 6.82 P/E Ratio 26.72 21.89 24.20 containing more complete information.
    [Show full text]
  • The Competitive Landscape for E-Commerce in China
    The Competitive Landscape for E-Commerce in China 1 2 0 2 , H T 4 1 L I Jeff Towson - Peking University R P A April 14th, 2021 The Competitive Landscape for E-Commerce in China Alibaba paved the way for the e-commerce revolution that has taken China by storm. Today, China is the largest e-commerce market in the world. Roughly 50% of global online transactions occur within China. To truly understand the Chinese competitive e-commerce landscape, we need to look into the consumer trends, the characteristics of the Chinese consumer, the Chinese marketplace, and the growth of internet users and fintech. Joining us for a discussion on the Chinese E-commerce competitive landscape Jeff Towson— Keynote Speaker on Digital China and Asia, Head of Research at Asia Tech Strategy US-China Series has been blessed to have leading authorities on many segments of the Chinese economy, but I struggle to find another with Jeff’s knowledge of e-commerce and the digital landscape. His understanding of companies such as JD, Alibaba, and Pinduodou was exceptional, and our deep dive into these companies and their ecosystem provided insights into not only the prevailing competitive landscape but where the industry is likely headed in the years to come. Chinese e-commerce has merged content, commerce, and social media into one platform. Traditional retailers like Walmart pitch themselves as places where one would buy what they need with extensive selections to choose from, and many e-commerce retailers have followed this model. In contrast, the shopping mall represents a different retail experience: one may go there for fun with friends and experience different things.
    [Show full text]
  • Presentación De Powerpoint
    Business Overview MercadoLibre OVERVIEW MercadoLibre hosts the largest online commerce The leading and payments ecosystem in Latin America e-commerce and Our efforts are centered on enabling e-commerce and digital and mobile payments on behalf of our Fintech platform in customers by delivering a suite of technology solutions across the complete value chain of Latin America commerce CONNECTING WE ARE THE LEADING TECHNOLOGY 140M ACTIVE USERS COMPANY IN DEVELOPING E-COMMERCE AND PAYMENTS WITH SOLUTIONS OUR ECOSYSTEM BUSINESS OVERVIEW 2Q'21. © 2021 MercadoLibre, Inc. All rights reserved. ACTIVE USERS AS OF LAST TWELVE MONTHS BASIS Overview Net Revenues (US$M) $3,973 GMV TPV $2,296 Take rate $1,703 19% $1,440 2Q21 1Q21 17% $1,217 $844 $878 $7.0B $ 17.5B $652 12% 12% $557 11% 9% 23% 24% 8% 2Q20 1Q20 2014 2015 2016 2017 2018 2019 2020 2Q20 2Q21 $5.0B $ 11.2B BUSINESS OVERVIEW 2Q'21. © 2021 MercadoLibre, Inc. All rights reserved. Source: Company Source GMV: Gross Merchandise Volume TPV: Total Payment Volume Overview MercadoLibre is well positioned to capture a significant market opportunity 18 COUNTRIES TOP OF MIND ENHANCED ECOSYSTEM The largest online payments In E-commerce and traffic Payments, Shipping, SaaS, network in Latin America leader Advertising 638M 362M 200M 76M Population Internet Online Active in Latam Users Shoppers Users * 1. Last 12 months BUSINESS OVERVIEW 2Q'21. © 2021 MercadoLibre, Inc. All rights reserved. Source: Company source, eMarketer, World Bank. *In the quarter of 2Q'21 Our Achievements Our Achievements 1999 2000 2003 2004 2006 2007 2009 2012 2013 2014 2017 Company founded Launched Launched Launched Launched IPO Launched Top searched Launched Issued Launched from business operations operations Central brand on $330M in plan written at in 4 additional in Peru.
    [Show full text]
  • Paypal Third Quarter 2020 Results
    PAYPAL HOLDINGS, INC. (NASDAQ: PYPL) Third Quarter 2020 Results San Jose, California, November 2, 2020 Q3’20: Strongest growth in total payment volume and revenue in PayPal’s history • Total Payment Volume (TPV) of $247 billion, growing 38%, and 36% on an FX-neutral basis (FXN); revenue of $5.46 billion, growing 25% on a spot and FXN basis • GAAP EPS of $0.86, up 121% and non-GAAP EPS of $1.07, up 41% • 15.2 million Net New Active Accounts (NNAs) added; ended the quarter with 361 million active accounts FY’20: Raising TPV and earnings guidance; delivering record NNAs • FY’20 TPV growth now expected to be approximately 30%; revenue growth now expected in the range of 20%–21%, and 21%–22% FXN • FY’20 GAAP EPS growth now expected in the range of 37%–38% and non-GAAP EPS growth in the range of 27%–28% • Approximately 70 million NNAs expected to be added to PayPal’s platform in FY’20 Q3’20 Highlights PayPal’s third quarter was one of the GAAP Non-GAAP strongest in our history. Our growth YoY YoY reinforces the essential role we play in USD $ Change USD $ Change our customers’ daily lives during this pandemic. Going forward, we are investing Net Revenues $5.46B 25% $5.46B 25%* to create the most compelling and expansive digital wallet that embraces all forms of digital currencies and payments, Operating Income $0.98B 40% $1.49B 45% and operates seamlessly in both the physical and online worlds.” EPS $0.86 121% $1.07 41% Dan Schulman President and CEO * On an FXN basis Q3 2020 Results 2 Results Q3 2020 Key Operating and Financial Metrics Net
    [Show full text]
  • K Invest Globale Aktier II Quarter End Statement for the Period January 1, 2021 to March 31, 2021
    K Invest Globale Aktier II Quarter End Statement For the period January 1, 2021 to March 31, 2021 BARON CAPITAL® As of March 31, 2021 Baron Investment Philosophy Reporting Currency: DKK As of March 31, 2021 K Invest Globale Aktier II Reporting Currency: DKK Portfolio Manager: Alex Umansky Primary Contact: Stephen Millar +44(0)20 3941 5961 Vice President, Head of EMEA Client Service: Janet Lam Chen +1-212-583-2162 Director, Client Service Investment Strategy Jennifer Bailey +1-212-583-2197 Senior Associate, Client Service The portfolio invests mainly in growth companies of all sizes located throughout the world. Diversified. Michael Howard +1-917-933-0127 Associate, Client Service Table of Contents: Portfolio Summary 2 Performance 3 Quarterly Top Contributor/Detractors 4 Performance Attribution 5 Performance Attribution by Region 6 Attribution Commentary 7 Significant Transactions 8 GICS Sector Breakdown 9 Relative Sector Breakdown 10 Relative Country, Region, Developed/Emerging Breakdown 11 Top Ten Holdings Investment Premise 12 Portfolio Holdings by GICS Sector 13 Portfolio Holdings by Country 14 Reports 15 Schedule of Investments 1 As of March 31, 2021 K Invest Globale Aktier II Reporting Currency: DKK Portfolio Characteristics Summary of Activities Account MSCI ACWI Index Portfolio Value on December 31, 2020 1,246,463,818.96 DKK # of Equity Securities / % of Net Assets 56 / 97.4% - Contributions 181,033,609.15 Median Market Cap 123.10 billion DKK 72.28 billion DKK Withdrawals -90,563,300.36 Weighted Average Market Cap 1,603.84 billion DKK 1,894.16 billion DKK Dividends and Interest -10,268.53 Inception Date December 21, 2020 - Net Assets 1.35 billion DKK - Management Fees 0.00 Appreciation/Depreciation 9,647,473.14 Monthly Performance (Net %) for Quarter Ended March 31, 2021 Portfolio Value on March 31, 2021 1,346,571,332.36 DKK Account MSCI ACWI Index January 2.22 0.18 February 5.92 2.39 March -6.30 6.05 Portfolio Review and Outlook The first quarter of 2021 saw a perceptible shift in market leadership from growth to value.
    [Show full text]
  • Pinduoduo Inc
    Pinduoduo Inc. Equity Research Target Price: 28,82$ Current Price: 169,43$ Downside Potential: -82,1% Recommendation: UNINVESTABLE Investment Horizon: 1 Year Vienna, January 29th, 2021 - 1 - © WUTIS Team – Overview Equity Research Jan Iryna Benedikt Katrin Tanson Zginnyk Lucny Haas Director Associate Analyst Analyst ▪ Task distribution ▪ Market & industry ▪ Business model ▪ Business model ▪ Story guideline analysis ▪ Industry analysis ▪ Financial analysis ▪ Valuation ▪ Peer benchmarking ▪ HR analysis ▪ Management analysis ▪ Valuation ▪ BSc. (WU) – 7th Sem. ▪ BSc. (WU) – 3rd Sem. ▪ BSc. (WU) – 2nd Sem. ▪ BSc. (WU) – 5th Sem. ▪ BSc. Pharma – 5th Sem. - 2 - © WUTIS Agenda 1 Executive summary 4 2 Business description 6 3 Market outlook 13 4 Competitive landscape 21 5 Questionable financials 24 6 Benchmarking 28 7 Risk analysis 34 8 Catalysts 36 9 Conclusion 38 - 3 - © WUTIS Share price performance PDD has experienced a tremendous growth in share price and a lofty valuation since 2020 Share price – Major Events $180 ▪ [1] April 2019 (-5%) – Financial Times cash $160 burn criticism [5] $140 ▪ [2] August 2019 (+39%) – Q2 2020 results – $120 Pinduoduo beats estimates & GMV strength [4] ▪ [3] April 2020 (+35%) – Strategic partnership $100 with GOME (financing of struggling retailer) $80 ▪ [4] August 2020 (-19%) – Q2 2020 results – [3] Pinduoduo missed top-line estimates $60 [1] [2] ▪ [5] November 2020 (+21%) – Q3 2020 results $40 – Pinduoduo beats expectations (89% Y/Y revenue growth) & Q3 report shows $20 “investments paying off” $0 Source: Yahoo
    [Show full text]