- Cathie Wood’s Ark Invest rebalances portfolio according to the latest trade filings.
- Coinbase shares worth $16 million were offloaded along with $8.2 million in Robinhood shares.
- The company also shed stocks of chipmakers like NVIDIA and TSMC.
The latest trade filings from Cathie Wood’s Ark Invest showed that the company has decided to rebalance its portfolio. In the process of rebalancing, Ark Invest has reduced holdings of chipmakers like TSMC and Nvidia, along with Coinbase and Robinhood from the finance sector.
Read more: Nvidia turns the tables for global stock market dynamics
Cathie Wood’s Ark Invest trims chipmakers and Coinbase holdings
Based on company filings, Cathie Wood’s Ark Invest has offloaded 2,362 shares of Nvidia on Friday as the market takes a breather from the AI-induced rally. Along with NVIDIA, Ark Invest has also sold US crypto exchange Coinbase’s $16 million shares and shares in Robinhood (HOOD) worth $8.2 million.
Read more: Nvidia Stock Earnings: NVDA Q4 results trounce consensus
Here’s a detailed breakdown of the recent filings:
Cathie Wood’s Ark Invest has been making adjustments to its portfolio, trimming holdings in both chipmakers and Coinbase.
Chipmakers:
- Ark Autonomous Technology and Robotics ETF sold shares of TSMC (first sale since late 2021) and Nvidia.
- This follows Ark’s ongoing portfolio rebalancing as chip stock prices surge (Nvidia up 59% and TSMC up 25% year-to-date).
- Ark still holds around 221,848 shares of TSMC.
- Previously, Cathie Wood was bullish on AI, investing in software companies like UiPath and Twilio instead of chipmakers.
- Due to recent price increases, both TSMC and Nvidia have fallen out of the fund’s top 10 holdings.
Coinbase:
- Ark Invest sold a total of 96,435 Coinbase shares ($16 million) across three ETFs in the past week.
- This is part of Ark’s strategy to rebalance fund weightings despite a recent 30% surge in Coinbase’s price.
- Coinbase stock remains down over 50% from its all-time high, though it’s up 160% in the past year.
Overall, these sales indicate that Ark Invest is adjusting its portfolio to reflect current market conditions and its long-term investment strategies.
Also read: Nvidia overtakes Tesla as most-traded stock, while AI boosts revenue 265%
