Cathie Wood’s ARK Invest made notable portfolio shifts on Thursday, adding to its Tesla holdings while dramatically reducing exposure to Roku. The moves came just a week after ARK trimmed Tesla to purchase shares of SpaceX during its initial public offering.
ARK bought 54,815 Tesla shares across two funds—the ARK Innovation ETF and the ARK Next Generation Internet ETF—worth approximately $21.9 million at Tesla’s closing price of $400.49. Tesla remains the top holding in ARK Innovation at 9.7% and the second-largest in the internet fund at 8.6%.
Simultaneously, ARK sold 721,279 Roku shares valued at roughly $99 million, continuing a pattern of reducing that position over the prior days. On the buying side, ARK also added 223,690 Snowflake shares (~$52.4 million) along with healthcare plays like Eli Lilly.
ARK’s SpaceX stake stood at about 3.29 million shares by the end of June 12, the IPO date. SpaceX shares priced at $135, surged as high as $225.64 before retreating 5% Wednesday and 3.6% Thursday to close at $185. ARK Chief Futurist Brett Winton highlighted SpaceX’s potential in AI infrastructure, while Wood reiterated her long-term Tesla target of $2,600 by 2029.
The trades reflect ARK’s conviction in artificial intelligence, cloud computing, and Musk’s ecosystem, while shying away from media-streaming businesses like Roku.
