Cathie Wood's ARK Innovation ETF (NYSEMKT: ARKK) made investors a lot of money for years. But the exchange-trade fund peaked about two years ago, and began to sink like a brick a bit over a year ago as growth stocks fell out of favor.

But that's not the end of the story. Wood is trouncing the market so far in 2023. And the great performance of her flagship ETF has mainly been due to these three stocks.

Coinbase Global (NASDAQ: COIN) currently ranks as the eighth-largest holding of the ARK Innovation ETF. However, the crypto exchange operator has been by far Wood's biggest winner this year with a gain of more than 50%.

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Source Fool.com