Cathie Wood's ARK Invest made significant portfolio adjustments on November 20, highlighted by the purchase of 93,374 shares of Nvidia valued at approximately $17.5 million. This marks the first time ARK has bought Nvidia stock since August 4, according to daily trade disclosures.
The move came shortly after Nvidia reported stronger-than-expected Q3 earnings, with the stock initially surging over 5% before reversing to close down 3.2% at $180.64. Broader market declines and shifting expectations for a Federal Reserve rate cut in December contributed to the downturn.
ARK also increased its exposure to cryptocurrency-related companies, buying 363,081 shares of Bitmine Immersion Technologies, 241,991 shares of Bullish, and 134,650 shares of Circle Internet through its ARK Innovation ETF. Additional purchases were made in other ETFs, including ARK Next Generation Internet and ARK Fintech Innovation.
Beyond crypto, ARK acquired 971,423 shares of Archer Aviation and added biotech positions such as Recursion Pharmaceuticals, Pacific Biosciences, CRISPR Therapeutics, and Illumina. On the selling side, the fund continued reducing its AMD holdings and offloaded 932,161 shares of Exact Sciences following Abbott's $21 billion acquisition announcement.
The ARK Innovation ETF is down more than 20% from its October peak, underperforming the Nasdaq 100's 4.3% decline during the same period.
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