Cathie Wood's ARK Investment Management executed significant portfolio adjustments on Wednesday, February 11, 2026, deploying a strategy of purchasing stocks following post-earnings declines, with a notable focus on cryptocurrency-related companies.
The firm purchased 433,806 shares of Robinhood Markets (HOOD) across its ARKK, ARKW, and ARKF funds, representing a $37.1 million investment. This move came after Robinhood's stock fell 8.8% on the same day, despite the company beating earnings-per-share estimates with $0.66. The decline was triggered by the company missing its Q4 revenue estimates.
ARK also acquired 150,421 shares of Shopify worth $19.1 million after the e-commerce platform's stock dropped 6.5%. This decline occurred even though Shopify surpassed both sales and earnings forecasts for Q4 and announced a substantial $2 billion share buyback program.
Concurrently, ARK reduced its exposure to other holdings, selling 186,754 shares of Airbnb for $22.5 million. The firm also sold stakes in Teradyne ($18 million), Unity Software ($14.1 million), and Pinterest ($8.4 million).
A major theme of the trading day was ARK's continued accumulation of crypto-linked equities. The firm purchased 364,134 shares of crypto exchange Bullish for $11.7 million. This transaction marked the tenth consecutive day ARK has increased its position in Bullish, bringing the total additional shares bought over that period to 364,044 worth $11.6 million. Bullish shares have recovered 28.3% since hitting a low of $24.90 on February 9.
ARK also bought 75,559 shares of Circle Internet Financial, the issuer of the USDC stablecoin, for $4.5 million. Circle's stock had declined 3.2% at the time of purchase and is down approximately 30% over the past month, though it saw a 7.8% rise in the prior five days.
Analysts currently give Robinhood a "Strong Buy" consensus rating, with an average price target suggesting a 74% upside potential. ARK's trading activity, which totaled approximately $74 million in purchases for the day, reflects Wood's strategy of buying into technology and crypto companies during temporary price weakness, even as cryptocurrency markets face ongoing challenges from 2025's regulatory issues.
