In a significant reshuffling of its investment portfolio, ARK Invest, led by Cathie Wood, made notable moves in cryptocurrency and semiconductor stocks on Thursday and Friday. The investment firm aggressively purchased over 164,000 shares of Bullish (BLSH), a crypto exchange, across three of its actively managed exchange-traded funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
On Thursday, ARK acquired a substantial 99,580 shares for ARKK, constituting approximately 0.06% of the fund’s total assets. The following day, the firm continued its buying spree, adding another 17,974 shares for ARKK, along with 4,829 shares for ARKW and 2,226 shares for ARKF. Overall, these transactions represent a strategic focus on crypto-related equities, in line with Wood’s long-standing belief in the potential of digital asset infrastructure and exchanges. Despite these active purchases, BLSH faced challenges in the market, hitting a monthly low on Friday, but sentiment among retail investors on platforms like Stocktwits remained notably bullish.
In contrast to its bullish stance on cryptocurrency, ARK took a step back from traditional semiconductor investments. The firm sold 2,131 shares of Taiwan Semiconductor Manufacturing (TSM) on Thursday and 1,859 shares of Advanced Micro Devices (AMD) on Friday, both from the ARKW fund. These sales, representing a minor fraction of the respective funds, indicate a strategic pivot as ARK looks to capitalize on emerging technologies.
Moreover, ARK Invest made an exciting new bet on Cerebras Systems (CBRS), an AI chip maker that recently entered the public market. On Friday, ARK purchased 38,646 shares of CBRS for ARKK, which represents about 0.16% of that fund, alongside an additional 3,480 shares for ARKW. This investment marks ARK’s first significant stake in a rival to Nvidia, a company currently leading in the AI chip sector.
Also noteworthy was ARK’s increased investment in Twist Bioscience (TWST), where it acquired 105,810 shares across its funds, marking the largest single-stock purchase in terms of share count during this recent two-day activity. This move reflects ARK’s strategy of emphasizing innovative biotech firms alongside its tech investments.
Overall, Cathie Wood’s ARK Invest is reinforcing its commitment to cryptocurrency while also making strategic bets on emerging players in the AI and biotech sectors, all while assessing its positions in more established companies within the semiconductor industry.
