Cathie Wood’s Ark Invest made notable portfolio adjustments on Thursday, selling 36,600 shares of Tesla and buying 5.08 million shares of Archer Aviation. The Tesla sale, valued at $15.3 million based on Thursday’s closing price of $418.10, included 34,823 shares from the ARK Innovation ETF (ARKK), accounting for 0.21% of the fund, and 1,777 shares from the ARK Autonomous Technology & Robotics ETF (ARKQ), representing 0.078% of that fund.
Ark’s decision to trim its Tesla holdings reflects efforts to manage the stock’s growing weight in its portfolios as Tesla’s price surges.
On the buy side, Ark Invest significantly increased its position in Archer Aviation, a company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air taxis. The total purchase, spread across ARKK, ARKQ, and the ARK Space Exploration & Innovation ETF (ARKX), amounted to $36.43 million based on Archer’s closing price of $7.17 per share. ARKK received the largest allocation, with 4.7 million shares.
These trades underscore Ark’s strategic balancing of high-performing legacy investments and high-growth opportunities in innovative sectors.
Update, 19th December, 2024
On Thursday, Cathie Wood’s Ark Invest made notable trades, selling Tesla (TSLA) and Palantir (PLTR) stocks. Ark Innovation ETF (ARKK) sold 14,016 Tesla shares worth $6.1M at $436.17/share. This follows a $9.06M Tesla sale the day before, despite Elon Musk’s optimism about the stock reaching $690.
ARKK also sold 33,402 Palantir shares worth $2.5M at $74.21/share. This comes after Palantir secured a $400.7M U.S. Army contract extension. Despite a 350% YTD rise, insiders have been selling. Ark also traded Tempus AI, Ionis Pharma (IONS), and Personalis Inc (PSNL).
Additionally, Berkshire Hathaway, led by Warren Buffett, has significantly boosted its investment portfolio by increasing stakes in two companies. The conglomerate purchased an additional 8.9 million shares of Occidental Petroleum, reinforcing its confidence in the energy sector. This move aligns with Berkshire’s ongoing strategy of expanding its exposure to oil and gas companies. Simultaneously, Berkshire acquired 4.9 million shares of Sirius XM Holdings,
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