Cathie Wood's ARK Sells $21.8M Tesla Shares, Buys $18.3M Tempus AI Stock

GuruFocus.com
2024-12-13

On Dec. 12, Ark Innovation (ARKK, Financial), a company of Cathie Wood, disclosed its portfolio trades, showing how assets are moving from one Ark ETF to the next. The ARKK ETF sold 51,335 shares of Tesla Inc. (TSLA, Financial), the biggest transaction of the day, with proceeds worth approximately $21.81 million. This trade implies that ARK is rebalancing its position as the leader in the electric vehicle market.

    Simultaneously, ARK became optimistic about Tempus's (TEM, Financial) outlook, adding 424,522 shares to its ARKK and ARKG ETFs for a total of $18.34 million. This purchase further affirmed ARK's bullish stance on the market impact artificial intelligence will have.

    In another notable move, ARKQ ETF sold 205,897 shares of Rocket Lab USA (RKLB, Financial). Funds were reallocated to purchase 154,873 shares of Symbotic (SYM, Financial) for $4.13 million ($4.81 million), or $4.81 million. ARK seemed interested in robotics and automation sectors, as this reflects.

    Other trades included sales of Adaptive Biotechnologies Corp. ( ADPT, Financial): On Friday, Veracyte Inc. (VCYT, Financial) sold 31,181 shares at a value of $1.36 million, ADPT sold 20,353 shares worth $129,852, and Veeva Systems Inc. (VEEV, Financial) sold 4,660 shares at $1.09 million. Senti Biosciences Inc. (SNTI, Financial): A smaller adjustment of 163 shares was seen at SNTI $893.However, investors are intensely following ARK's moves, trading for clues to its strategic priority: Many believe ARK indicates confidence in AI innovation, and the Tesla sale may be profit-taking or portfolio recomposition.

    This article first appeared on GuruFocus.

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