TLDR
- Ark Invest bought 456,059 shares of Block worth $37.4 million across three ETFs on Monday
- Ark also picked up 35,192 shares of Circle Internet Group for $3.36 million
- Palantir shares worth $26 million were sold across ARKF, ARKK, and ARKW
- AMD holdings were trimmed by 8,623 shares, worth around $4.1 million
- Block holds 9,177 Bitcoin worth roughly $714 million, and Circle is up 52.6% over the past month
Cathie Wood’s Ark Invest made a series of major trades on Monday, offloading shares in Palantir Technologies and Advanced Micro Devices while buying heavily into Block and Circle Internet Group.
Ark picked up 456,059 shares of Block across its ARKF, ARKK, and ARKW funds. With Block closing at $82.02, the total trade came to around $37.4 million. Block fell 1.85% on the day.
The purchase follows Block’s second-quarter earnings report from early August, where the company posted earnings of $1.02 per share and revenue of $6.62 billion, both beating expectations.
Block raised its full-year profit forecast to $12.5 billion, representing 21% growth. Analysts at Mizuho did flag concerns about rising operating expenses, despite a 40% staff cut in February.
Block’s Bitcoin Holdings in Focus
Block has deep ties to the crypto space. The Jack Dorsey-led company holds 9,177 Bitcoin, currently valued at around $714 million. Bitcoin gained 23.73% this month, while Ethereum rose 31.44%.
Ark also bought 35,192 shares of Circle Internet Group for roughly $3.36 million. Circle’s stock jumped 9.65% on Monday to $95.55, recovering after a 7.5% drop the previous Friday.
Bernstein analysts gave Circle an Outperform rating last week with a $140 price target. They cited growth in stablecoin payments, blockchain capital markets, and the use of stablecoins for agentic payments.
Circle, which issues the USDC stablecoin, is up 52.6% over the past month. Cathie Wood has previously spoken about Circle’s potential in the digital payments space.
Ark Sells Palantir and AMD
On the sell side, Ark offloaded 139,456 shares of Palantir across its three main ETFs at a closing price of $186.38, bringing the total to around $26 million.
This comes after Palantir reported strong second-quarter numbers, with revenue of $1.94 billion beating estimates of $1.80 billion. Adjusted earnings came in at 41 cents per share against an estimate of 35 cents.
Ark also trimmed its AMD position by selling 8,623 shares through ARKF, worth around $4.1 million at AMD’s closing price of $470.72.
AMD had recently announced AI infrastructure expansion in Saudi Arabia alongside Cisco Systems and HUMAIN. Ark has been reducing its AMD stake consistently over recent weeks.
Ark’s rules prevent any single holding from exceeding 10% of a fund’s portfolio. Circle closed Monday at $95.55, and Bernstein’s $140 price target remains the most recent analyst call on the stock.
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