Cathie Wood, the CEO of ARK Invest, has made notable shifts in her investment portfolio recently. On January 12, ARK Invest executed substantial trades, including selling shares of Meta Platforms and Illumina, while significantly increasing investments in early-stage genomics companies.
Following a decline of 11.9% in the stock price of GeneDx Holdings, ARK Invest capitalized on the opportunity by purchasing $15.88 million in shares. This acquisition was made through both the ARK Innovation ETF and ARK Genomic Revolution ETF, totaling 133,191 shares. Despite the drop, GeneDx is recognized as a leader in rare disease diagnostics, boasting the largest genomic dataset in its field.
In conjunction with this purchase, ARK also acquired 99,292 shares of Intellia Therapeutics for approximately $1.13 million, with the company”s stock rising by 10.2% on that trading day. ARK further expanded its biotechnology portfolio by adding 49,963 shares of 10X Genomics after a 3.2% decline in its stock price, as well as 17,748 shares of Personalis.
On the other hand, Wood liquidated 91,312 shares of Illumina for $13.29 million, signaling a strategic pivot away from established genomics firms toward more innovative, emerging competitors. Illumina”s stock had recently appreciated by nearly 48% over the past six months, making this sale particularly noteworthy.
Additionally, last week saw ARK selling about $12.7 million worth of Meta Platforms shares across various ETFs, including ARK Innovation ETF, ARKW, and ARKF. This move represents a continued trend of reallocating capital away from large-cap technology and social media companies.
Other notable reductions on January 12 included $2.61 million in Natera, $5.15 million in Teradyne, and $1.11 million in Beam Therapeutics, alongside smaller sales of Ionis Pharmaceuticals stock.
In a bid to diversify its holdings, ARK Invest also ventured into emerging sectors. The ARK Space Exploration & Innovation ETF acquired shares of Joby Aviation and Archer Aviation, both key players in the development of electric vertical takeoff and landing aircraft aimed at revolutionizing urban transport. Furthermore, ARK added Deere & Company stock to capitalize on automation prospects within the construction and agriculture industries.
These portfolio adjustments reflect Wood”s strategy of transitioning from established market leaders to focus on disruptive innovation within the realms of healthcare, autonomous transportation, and advanced manufacturing technologies. The combined transactions across multiple ARK ETFs exceeded $50 million, emphasizing a clear investment thesis centered on long-term growth opportunities in breakthrough technologies.
