Cathie Wood’s Ark Invest made a series of major portfolio moves this week, selling stakes in some high-flying tech names while doubling down on others. The most notable trade was a $3.7 million sale of Palantir Technologies stock, even as the company continues to lead in artificial intelligence and data analytics.
Ark trimmed 20,000 shares of Palantir across its Fintech Innovation and Next Generation Internet ETFs. The sale came as Palantir’s stock hit $181.59 and after Oracle’s Larry Ellison praised the company’s edge in proprietary data for AI development.
Wood also offloaded 22,000 shares of Shopify, valued at $3.7 million, following a recent rally fueled by its partnership with OpenAI to enable instant in-chat shopping through ChatGPT. Despite strong momentum, Ark appears to be taking profits after the surge.
On the buying side, Ark acquired over 20,000 shares of Qualcomm, worth $3.4 million, even as the chipmaker faces a regulatory probe in China over its acquisition of Autotalks. The firm also added 69,000 shares of Chinese EV giant BYD, showing continued confidence in the electric vehicle sector despite recent recalls.
Wood’s trades highlight Ark’s ongoing strategy of rotating capital from mature winners into emerging innovation sectors like robotics, AI hardware, and clean energy.