1、1BIG IDEAS2024Annual ResearchReportFOR INFORMATIONAL PURPOSES ONLYBIG IDEAS 2024JANUARY 31,2024ARK Investment Management LLC.This is not a recommendation in relation to any named particular securities/cryptocurrencies and no warranty or guarantee is provided.Any references to particular securities/c

2、ryptocurrencies are for illustrative purposes only.There is no assurance that the Adviser will make any investments with the same or similar characteristics as any investment presented.The reader should not assume that an investment identified was or will be profitable.PAST PERFORMANCE IS NOT INDICA

3、TIVE OF FUTURE PERFORMANCE,FUTURE RETURNS ARE NOT GUARANTEED.2BIG IDEAS 2024:DISCLOSURERisks Of Investing In InnovationPlease note:Companies that ARK believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do

4、 so.ARK aims to educate investors and seeks to size the potential investment opportunity,noting that risks and uncertainties may impact our projections and research models.Investors should use the content presented for informational purposes only,and be aware of market risk,disruptive innovation ris

5、k,regulatory risk,and risks related to certain innovation areas.Please read risk disclosure carefully.DISRUPTIVE INNOVATIONRAPID PACE OF CHANGEUNCERTAINTY AND UNKNOWNS EXPOSURE ACROSS SECTORS AND MARKET CAPRISK OF INVESTING IN INNOVATIONREGULATORY HURDLESCOMPETITIVE LANDSCAPEPOLITICAL OR LEGAL PRESS

6、URESources:ARK Investment Management LLC,2023.Aim to understand the regulatory,market,sector,and company risks.(See Disclosure Page)Aim for a cross-sector understanding of technology and combine top-down and bottom-up research.3BIG IDEAS 2024:INTRODUCTIONBig Ideas 2024ARK Invest proudly presents Big