ARK Invest Rebalances Portfolio: Exits Iridium Position, Boosts Biotech Exposure
Cathie Wood's ARK Invest executed significant portfolio adjustments on December 10, liquidating $3.32 million worth of Iridium Communications shares across three ETFs following a 6.3% price surge. The MOVE continues Wood's systematic reduction of satellite communications exposure.
ARK simultaneously increased its biotech holdings, acquiring $221,736 worth of Nurix Therapeutics shares after positive Phase 1 trial results. The fund also trimmed positions in Teradyne ($833,075 sold) and Adaptive Biotechnologies ($525,731 sold), while reducing its stake in Ibotta by 11,700 shares.
These transactions reflect ARK's strategic pivot toward therapeutic innovations, particularly in precision medicine, while scaling back technology and communications allocations. The biotech sector now represents 28% of ARK's total assets under management, up from 22% in Q3.
