ARK Adjusts Tech Holdings: Sells Tesla and Meta, Buys Baidu and Trade Desk

Cathie Wood's ARK Investment Management made significant portfolio moves on December 5, continuing its week-long divestment from Tesla while increasing exposure to Chinese tech and AI plays. The firm sold $17.2 million worth of Tesla shares through its ARK Innovation ETF (ARKK), bringing its total sales of the electric vehicle maker to nearly 38,000 shares this week alone.

In a parallel reduction of mega-cap tech exposure, ARK trimmed 9,200 Meta Platforms shares worth $6.1 million. The sales come as growth stocks face pressure from rising interest rates and valuation concerns.

The fund deployed capital into strategic growth opportunities, purchasing 119,982 Baidu shares ($14.2 million) and 180,445 Trade Desk shares ($7.1 million). The Baidu investment signals conviction in Chinese tech's AI capabilities, while the Trade Desk acquisition aligns with ARK's advertising technology thesis.

Notable smaller purchases included GeneDx ($8.3 million), WeRide ($336,875), and Robinhood ($1.3 million), maintaining ARK's focus on disruptive innovation across genomics, autonomous vehicles, and fintech.