ARK Investment Management Discloses 21.2M Teladoc Shares

TL;DR

**ARK still holds over 21 million shares of Teladoc, signaling continued conviction.**

AI Summary

ARK Investment Management LLC, led by Cathie Wood, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership of Teladoc Health, Inc. common stock as of December 31, 2023. The filing shows ARK beneficially owns 21,224,565 shares, representing a significant stake in the virtual healthcare provider. This matters to investors because ARK is a prominent institutional investor known for its high-conviction growth stock picks, and its continued large holding could signal confidence in Teladoc's long-term prospects, or conversely, any future reduction could indicate a shift in their investment thesis.

Why It Matters

This filing confirms ARK Investment Management's substantial stake in Teladoc Health, providing transparency into a major institutional investor's position and potentially influencing market sentiment.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an institutional investor, not indicating any immediate negative or positive event for the company.

Analyst Insight

Investors should note ARK's continued large position in Teladoc, but also monitor future filings for any significant changes, as ARK's investment decisions can influence market perception of growth stocks.

Key Numbers

• 21,224,565 — Total Shares Beneficially Owned (This is the total number of Teladoc Health, Inc. common stock shares ARK Investment Management LLC reported owning as of December 31, 2023.)
• 20,164,041 — Sole Voting Power Shares (This represents the number of shares over which ARK Investment Management LLC has exclusive voting control.)
• 535,392 — Shared Voting Power Shares (This indicates the number of shares over which ARK Investment Management LLC shares voting control with other entities.)
• 21,224,565 — Sole Dispositive Power Shares (This is the number of shares over which ARK Investment Management LLC has exclusive power to sell or dispose of.)

Key Players & Entities

• ARK Investment Management LLC (company) — the reporting person and institutional investor
• Teladoc Health, Inc. (company) — the subject company whose shares are being reported
• Delaware (company) — place of organization for ARK Investment Management LLC
• 21,224,565 (dollar_amount) — total shares beneficially owned by ARK Investment Management LLC
• December 31, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• ARK Investment Management will maintain a significant stake in Teladoc Health, Inc. throughout 2024. (ARK Investment Management LLC) — medium confidence, target: 2024-12-31

FAQ

From the Filing

0001104659-24-007695.txt : 20240129 0001104659-24-007695.hdr.sgml : 20240129 20240129160101 ACCESSION NUMBER: 0001104659-24-007695 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Teladoc Health, Inc. CENTRAL INDEX KEY: 0001477449 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 043705970 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89259 FILM NUMBER: 24573559 BUSINESS ADDRESS: STREET 1: 2 MANHATTANVILLE ROAD STREET 2: SUITE 203 CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 2036352002 MAIL ADDRESS: STREET 1: 2 MANHATTANVILLE ROAD STREET 2: SUITE 203 CITY: PURCHASE STATE: NY ZIP: 10577 FORMER COMPANY: FORMER CONFORMED NAME: Teladoc, Inc. DATE OF NAME CHANGE: 20091123 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ARK Investment Management LLC CENTRAL INDEX KEY: 0001697748 ORGANIZATION NAME: IRS NUMBER: 464309299 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 200 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 212-426-7040 MAIL ADDRESS: STREET 1: 200 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 SC 13G/A 1 tm244117d24_sc13ga.htm SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 3)* Teladoc Health, Inc. (Name of Issuer) Common stock (Title of Class of Securities) 87918A105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) ¨ Rule 13d-1(c) ¨ Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 87918A105 13G Page 2 of 5 Pages 1. NAMES OF REPORTING PERSONS ARK Investment Management LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨ 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 20,164,041 6. SHARED VOTING POWER 535,392 7. SOLE DISPOSITIVE POWER 21,224,565 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,224,565 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.82% 12. TYPE OF REPORTING PERSON IA CUSIP No. 87918A105 13G Page 3 of 5 Pages Item 1(a) Name of issuer: Teladoc Health, Inc. Item 1(b) Address of issuer's principal executive offices: 2 Manhattanville Road, Suite 203, Purchase, New York 10577 Item 2(a) Name of person filing: ARK Investment Management LLC Item 2(b) Address or principal business office or, if none, residence: ARK Investment Management LLC 200 Central Avenue St. Petersburg, FL 33701 Item 2(c) Citizenship: Delaware, United States Item 2(d) Title of class of securities: Common stock Item 2(e) CUSIP No.: 87918A105 Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under