Cathie Wood’s ARK Invest Adjusts Portfolio: Boosts Chinese Tech, Trims AMD and Shopify
Cathie Wood's ARK Invest executed significant portfolio rebalancing on October 23, doubling down on Chinese tech giants while reducing exposure to several U.S. growth names. The moves highlight Wood's contrarian bets amid ongoing market volatility.
ARK purchased $11.43 million worth of Alibaba (BABA) shares across three ETFs—ARKK, ARKF, and ARKW—marking its largest trade of the day. The firm also added to positions in Baidu (BIDU) and biotech play Arcturus Therapeutics (ARCT). These buys come despite persistent regulatory risks surrounding Chinese equities.
On the sell side, Wood trimmed stakes in Advanced Micro Devices (AMD), SoFi Technologies (SOFI), and Shopify (SHOP). Smaller sales included positions in Kratos Defense, Iridium Communications, and streaming plays Roku and Roblox.
