Cathie Wood-LED ARK Investment Management has bought over 66,000 shares Tesla Inc TSLA at a valuation of over $13 million based on Thursday’s closing price on the company’s flagship product ARK Innovation ETF ARKK.

Tesla shares Zoom Video Communications Inc ZM seem to be in a tight race for the top spot in the fund’s holdings. Currently, Tesla is the largest holding in the ARKK fund, with a 9.42% weight in the portfolio, according to the latest data on the company’s website.

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Shares in the Elon Musk-led company fell 6.6% to close at $207.28 on Thursday Data from Benzinga Proafter its earnings came in below Wall Street expectations.

Wood was a big supporter of Tesla, which was a top contributor to ARK Innovation ETFs and ARK Next Generation Internet ETF‘s ARKW Third quarter performance. wood pure their quarterly commentary discussed how companies focused on disruptive innovation have the potential to surprise positively with significant exponential growth trajectories.

“Traditional auto analysts thought Tesla was doomed: they didn’t understand that Tesla was a robotics, energy storage and artificial intelligence company, not a car company,” Wood said.

The veteran investor began buying shares of Tesla in the first week of October after a hiatus of over three months through two different funds at an estimated cost of $32 million.

NVIDIA sale: The ARK Innovation ETF sold over 59,000 shares of the chipmaker NVIDIA Corporation NVDA valued at over $7 million based on Thursday’s closing price. On Tuesday, Deutsche Bank kept its “hold” rating on the stock and cut its price target to $140 from $165, according to the Benzinga Analyst Stock Ratings tool.

Continue reading: Tesla is ‘solution for business’: Cathie Wood says EV trend is unstoppables