Cathie Wood Shifts ARK Invest Portfolio: Biotech Bets Rise as Roku and DraftKings Trimmed

ARK Invest's Cathie Wood executed significant portfolio adjustments on September 2, doubling down on biotech while reducing exposure to streaming and sports betting plays. The MOVE reflects Wood's conviction in disruptive healthcare innovation amid market volatility.

The ARK Innovation ETF (ARKK) sold $10 million worth of Roku shares, capitalizing on the stock's 32% quarterly surge. Despite the trim, Roku remains ARK's second-largest holding at $675 million. DraftKings saw $2.15 million in sales across three ARK ETFs, continuing a recent divestment trend.

Wood redirected capital toward genomic editing firms CRISPR Therapeutics, Intellia Therapeutics, and Twist Bioscience. "The genomic revolution will eclipse the digital revolution," Wood famously remarked at last month's SALT Conference, signaling her long-term biotech thesis.