TLDR
- ARK sold 327,053 shares of Roku worth $44.2 million on Tuesday
- ARK bought 81,254 shares of Palantir for $9.5 million across three ETFs
- ARK purchased shares of Amazon, Alphabet, Tesla, and CoreWeave
- Cerebras Systems was bought ahead of its Q1 earnings report
- ARK spent nearly $49.3 million in total purchases on Tuesday
Cathie Wood’s ARK Invest made a series of moves on Tuesday, June 23, buying into several major tech stocks while continuing to reduce its position in Roku.
ARK sold 327,053 shares of Roku across its ARKK, ARKW, and ARKF ETFs, worth around $44.2 million. The firm has been cutting its Roku holdings consistently over the past week.
On the buying side, ARK spent nearly $49.3 million across multiple positions.
ARK Loads Up on Palantir and Amazon
ARK purchased 81,254 shares of Palantir for $9.48 million across ARKK, ARKW, and ARKF. This reversed earlier sales of the stock. Palantir is now the 16th-largest holding in the ARK Innovation ETF at 2.58%.
Palantir Technologies Inc., PLTR
ARK also bought 41,141 shares of Amazon for $9.63 million across the same three funds. Amazon is the 18th-largest holding in ARKK at 2.36% of the fund.
The firm added 21,226 shares of Tesla worth $8.1 million. Tesla is the top holding in the ARKF ETF at 9.73%.
ARK bought 23,603 shares of Alphabet worth $8.17 million. Alphabet makes up 1.92% of the ARK Innovation ETF.
AI Infrastructure Bets
ARK bought 76,195 shares of CoreWeave for $8.06 million. CoreWeave is the 17th-largest holding in ARKK at 2.57%.
ARK also bought 25,795 shares of Cerebras Systems for $5.85 million. The chipmaker only went public on May 14. The purchase came ahead of Cerebras reporting a Q1 revenue beat after the market closed Tuesday.
Cerebras currently makes up just 1.22% of the ARK Innovation ETF, suggesting ARK is still building its position.
On Monday, ARK had purchased $32.4 million worth of SpaceX shares across four ETFs, buying after the stock dropped 16%. ARK had already picked up 3.3 million SpaceX shares on the day it went public.
ARK sold hundreds of millions in stock in the weeks before SpaceX’s IPO to fund that purchase.
The Tuesday trades show ARK shifting money out of Roku and into AI-focused companies and Magnificent 7 stocks.
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