1 TESLA INC TSLA 88160R101 3,375,196 1,929,565,801.24 10.27 2 TELADOC HEALTH INC TDOC 87918A105 8,532,945 1,132,407,130.95 6.03 3 ROKU INC ROKU 77543R102 3,477,197 1,076,540,191.20 5.73 4 SQUARE INC - A SQ 852234103 4,222,487 832,378,862.31 4.43 5 ZOOM VIDEO COMMUNICATIONS-A ZM 98980L101 2,605,608 756,043,217.28 4.02 6 SHOPIFY INC - CLASS A SHOP 82509L107 704,895 738,567,834.15 3.93 7 ZILLOW GROUP INC - C Z 98954M200 6,318,794 676,742,837.40 3.60 8 SPOTIFY TECHNOLOGY SA SPOT L8681T102 3,075,719 667,646,323.33 3.55 9 TWILIO INC - A TWLO 90138F102 2,289,657 643,439,410.14 3.42 10 UNITY SOFTWARE INC U 91332U101 7,489,877 606,005,948.07 3.23 11 COINBASE GLOBAL INC -CLASS A COIN 19260Q107 2,262,602 599,815,790.20 3.19 12 EXACT SCIENCES CORP EXAS 30063P105 5,349,695 501,052,433.70 2.67 13 CRISPR THERAPEUTICS AG CRSP H17182108 4,811,526 485,964,126.00 2.59 14 DOCUSIGN INC DOCU 256163106 2,321,853 418,305,036.48 2.23 15 PALANTIR TECHNOLOGIES INC-A PLTR 69608A108 21,387,343 392,885,490.91 2.09 16 INVITAE CORP NVTA 46185L103 14,354,751 374,515,453.59 1.99 17 10X GENOMICS INC-CLASS A TXG 88025U109 2,670,787 364,856,212.07 1.94 18 INTELLIA THERAPEUTICS INC NTLA 45826J105 5,004,785 304,691,310.80 1.62 19 IRIDIUM COMMUNICATIONS INC IRDM 46269C102 8,233,256 301,007,839.36 1.60 20 DRAFTKINGS INC - CL A DKNG 26142R104 7,303,874 299,385,795.26 1.59 21 BEAM THERAPEUTICS INC BEAM 07373V105 4,523,414 299,178,601.96 1.59 22 NINTENDO CO LTD-UNSPONS ADR NTDOY 654445303 4,300,015 294,981,029.00 1.57 23 SEA LTD-ADR SE 81141R100 1,366,606 276,519,058.04 1.47 24 IOVANCE BIOTHERAPEUTICS INC IOVA 462260100 10,756,576 269,021,965.76 1.43 25 TWITTER INC TWTR 90184L102 5,035,277 252,317,730.47 1.34 26 UIPATH INC - CLASS A PATH 90364P105 3,613,882 240,034,042.44 1.28 27 FATE THERAPEUTICS INC FATE 31189P102 3,335,655 238,532,689.05 1.27 28 TERADYNE INC TER 880770102 2,000,648 234,555,971.52 1.25 29 TENCENT HOLDINGS LTD-UNS ADR TCEHY 88032Q109 3,172,205 234,362,505.40 1.25 30 PROTO LABS INC PRLB 743713109 2,410,159 223,686,856.79 1.19 31 TWIST BIOSCIENCE CORP TWST 90184D100 2,445,902 215,557,343.26 1.15 32 2U INC TWOU 90214J101 6,243,775 211,788,848.00 1.13 33 SKILLZ INC SKLZ 83067L109 15,261,703 209,543,182.19 1.12 34 PAGERDUTY INC PD 69553P100 5,854,195 197,286,371.50 1.05 35 PURE STORAGE INC - CLASS A PSTG 74624M102 10,494,563 180,296,592.34 0.96 36 KE HOLDINGS INC-ADR BEKE 482497104 3,436,124 162,872,277.60 0.87 37 EDITAS MEDICINE INC EDIT 28106W103 5,158,874 161,988,643.60 0.86 38 INTERCONTINENTAL EXCHANGE IN ICE 45866F104 1,400,860 157,134,466.20 0.84 39 TUSIMPLE HOLDINGS INC - A TSP 90089L108 4,439,074 154,169,040.02 0.82 40 NOVARTIS AG-SPONSORED ADR NVS 66987V109 1,633,767 144,425,002.80 0.77 41 PACIFIC BIOSCIENCES OF CALIF PACB 69404D108 6,023,740 134,329,402.00 0.72 42 VERACYTE INC VCYT 92337F107 3,752,634 132,092,716.80 0.70 43 SERES THERAPEUTICS INC MCRB 81750R102 6,230,340 128,718,824.40 0.69 44 BERKELEY LIGHTS INC BLI 084310101 3,483,621 126,803,804.40 0.67 45 TRIMBLE INC TRMB 896239100 1,405,701 104,429,527.29 0.56 46 MATERIALISE NV-ADR MTLS 57667T100 4,470,711 105,866,436.48 0.56 47 STRATASYS LTD SSYS M85548101 5,018,854 94,655,586.44 0.50 48 NANOSTRING TECHNOLOGIES INC NSTG 63009R109 1,884,448 91,244,972.16 0.49 49 DREYFUS GOVT CASH MAN INS X9USDDGCM 90,972,176 90,972,176.16 0.48 50 CERUS CORP CERS 157085101 14,776,037 82,007,005.35 0.44 51 HUYA INC-ADR HUYA 44852D108 4,417,549 66,174,884.02 0.35 52 COMPUGEN LTD CGEN M25722105 7,773,844 57,604,184.04 0.31 53 SYNOPSYS INC SNPS 871607107 224,714 51,877,474.04 0.28 54 LENDINGTREE INC TREE UW 52603B107 210,028 35,209,093.92 0.19 55 SYROS PHARMACEUTICALS INC SYRS 87184Q107 3,919,106 19,948,249.54 0.11 56 BAIDU INC - SPON ADR BIDU 056752108 19,967 3,580,083.10 0.02 57 REGENERON PHARMACEUTICALS REGN 75886F107 1,121 579,747.57 0.00 58 PACCAR INC PCAR 693718108 4,434 417,815.82 0.00 59 ORGANOVO HOLDINGS INC ONVO 68620A203 77,138 512,967.70 0.00

1. Deep Learning 5 2. The Re-Invention of the Data Center 13 3. Virtual Worlds 21 4. Digital Wallets 28 5. Bitcoin’s Fundamentals 37 6. Bitcoin: Preparing For Institutions 44 7. Electric Vehicles (EVs) 51 8. Automation 58 9. Autonomous Ride -Hailing 65 10. Delivery Drones 72 11. Orbital Aerospace 78 12. 3D Printing 85 13. Long Read Sequencing 92 14. Multi -Cancer Screening 99 15. Cell and Gene Therapy: Generation 2 106 Big Ideas 2021 TABLE OF CONTENT ARK requires a big idea to be investable and long -term. This report includes research that has been updated or revised over the years as well as completely new sections marked with “ “. • Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice, or a recommendation to buy, sell or hold any particular security. 5 Deep Learning Deep Learning Could Be The Most Importan

1 TESLA INC TSLA 88160R101 901,687 515,485,441.03 10.25 2 GRAYSCALE BITCOIN TRUST BTC GBTC 389637109 6,930,720 257,698,031.04 5.12 3 SHOPIFY INC - CLASS A SHOP 82509L107 219,027 229,489,919.79 4.56 4 TELADOC HEALTH INC TDOC 87918A105 1,681,291 223,124,128.61 4.43 5 SQUARE INC - A SQ 852234103 1,107,966 218,413,337.58 4.34 6 TWITTER INC TWTR 90184L102 4,047,533 202,821,878.63 4.03 7 SPOTIFY TECHNOLOGY SA SPOT L8681T102 901,396 195,666,029.72 3.89 8 ROKU INC ROKU 77543R102 630,154 195,095,678.40 3.88 9 COINBASE GLOBAL INC -CLASS A COIN 19260Q107 647,178 171,566,887.80 3.41 10 PELOTON INTERACTIVE INC-A PTON 70614W100 1,668,164 158,959,347.56 3.16 11 TWILIO INC - A TWLO 90138F102 564,307 158,581,553.14 3.15 12 ZOOM VIDEO COMMUNICATIONS-A ZM 98980L101 504,286 146,323,625.76 2.91 13 JD.COM INC-ADR JD 47215P106 1,987,663 133,233,050.89 2.65 14 SEA LTD-ADR SE 81141R100 649,526 131,425,090.84 2.61 15 UNITY SOFTWARE INC U 91332U101 1,563,822 126,528,838.02 2.51 16 ZILLOW GROUP INC - C Z 98954M200 1,148,618 123,016,987.80 2.45 17 PINDUODUO INC-ADR PDD 722304102 957,697 110,355,425.31 2.19 18 TRADE DESK INC/THE -CLASS A TTD 88339J105 215,413 106,306,315.50 2.11 19 SKILLZ INC SKLZ 83067L109 7,671,218 105,325,823.14 2.09 20 PALANTIR TECHNOLOGIES INC-A PLTR 69608A108 5,445,576 100,035,231.12 1.99 21 TENCENT HOLDINGS LTD-UNS ADR TCEHY 88032Q109 1,301,612 96,163,094.56 1.91 22 DRAFTKINGS INC - CL A DKNG 26142R104 2,040,864 83,655,015.36 1.66 23 PAYPAL HOLDINGS INC PYPL 70450Y103 314,223 75,664,898.40 1.50 24 NETFLIX INC NFLX 64110L106 152,881 74,401,067.46 1.48 25 KE HOLDINGS INC-ADR BEKE 482497104 1,550,593 73,498,108.20 1.46 26 CLOUDFLARE INC - CLASS A NET 18915M107 974,358 64,940,960.70 1.29 27 OPENDOOR TECHNOLOGIES INC OPEN 683712103 4,398,376 62,237,020.40 1.24 28 ROBLOX CORP -CLASS A RBLX 771049103 872,923 60,825,274.64 1.21 29 SNAP INC - A SNAP 83304A106 1,128,176 57,491,848.96 1.14 30 PAGERDUTY INC PD 69553P100 1,611,796 54,317,525.20 1.08 31 INTERCONTINENTAL EXCHANGE IN ICE 45866F104 477,340 53,543,227.80 1.06 32 OKTA INC OKTA 679295105 237,003 52,605,185.88 1.05 33 NINTENDO CO LTD-UNSPONS ADR NTDOY 654445303 745,113 51,114,751.80 1.02 34 DOCUSIGN INC DOCU 256163106 284,818 51,312,810.88 1.02 35 HUYA INC-ADR HUYA 44852D108 3,376,475 50,579,595.50 1.01 36 HUBSPOT INC HUBS 443573100 106,854 50,787,706.20 1.01 37 LENDINGCLUB CORP LC 52603A208 4,119,388 50,874,441.80 1.01 38 UIPATH INC - CLASS A PATH 90364P105 743,329 49,371,912.18 0.98 39 ADYEN NV-UNSPON ADR ADYEY 00783V104 1,190,100 49,032,120.00 0.97 40 2U INC TWOU 90214J101 1,415,811 48,024,309.12 0.95 41 MERCADOLIBRE INC MELI 58733R102 34,622 44,892,616.30 0.89 42 VERACYTE INC VCYT 92337F107 1,237,512 43,560,422.40 0.87 43 PURE STORAGE INC - CLASS A PSTG 74624M102 2,467,620 42,393,711.60 0.84 44 NANO DIMENSION LTD - ADR NNDM 63008G203 7,649,415 42,301,264.95 0.84 45 AGORA INC-ADR API 00851L103 855,026 31,584,660.44 0.63 46 DREYFUS GOVT CASH MAN INS X9USDDGCM 5,069,718 5,069,718.31 0.10 47 BAIDU INC - SPON ADR BIDU 056752108 3,852 690,663.60 0.01 48 LENDINGTREE INC TREE UW 52603B107 1,906 319,521.84 0.01 49 PINTEREST INC- CLASS A PINS 72352L106 1,284 71,197.80 0.00 50 NVIDIA CORP NVDA 67066G104 218 119,160.98 0.00 51 CROWDSTRIKE HOLDINGS INC - A CRWD 22788C105 420 77,179.20 0.00 52 SILVERGATE CAPITAL CORP-CL A SI 82837P408 2,371 217,942.32 0.00 53 SNOWFLAKE INC-CLASS A SNOW 833445109 98 18,447.52 0.00 54 FASTLY INC - CLASS A FSLY 31188V100 2,737 109,425.26 0.00