By David Randall

NEW YORK, (Reuters) – Star stock picker and well-known Tesla (NASDAQ) investor Cathie Wood from ARK Invest appears not to have bought the drop in electric car manufacturer shares. Shares fell around 13% in anticipation of Elon Musk selling them.

According to ARK’s website, Wood has a 9.7% share of her Tesla flagship fund, which was trading at the beginning of Wednesday. This is thanks to Wood’s ARK Innovation fund, which outperformed all U.S. equity funds in the last year.

The fund has been paring its stake in the company since July when the stock was trading at around $655, according to daily trade notifications compiled by Cathie’s Ark https://cathiesark.com/arkk-holdings-of-tsla, a newsletter service and online forum that tracks the asset manager.

In a Tuesday monthly webinar, Wood did not mention Tesla’s stock volatility.

When we have some success, that’s the next big “Aha” moment for the market [Tesla’s]She stated that the front is fully autonomous and self-driving.”

Tesla shares rebounded Wednesday after a sale earlier in the week, when Musk stated that he would sell 10% of the company’s stock to help pay taxes.

Wood indicated in September that her five-year price target for the stock is $3,000. The stock was traded on Wednesday at $1,030 a share.

ARK Invest didn’t respond to a request of comment regarding this story.

Morningstar reports that ARK Innovation has lost 3.1% in its first year. This puts them at the bottom of all U.S. midcap growth funds. The fund has seen a 45.1% annualized increase in performance over the past five year and is currently among the most successful funds in the category.