Cathie Wood's Ark Invest shifted more capital toward artificial intelligence, space and defense stocks in late July, with SpaceX emerging as the firm's largest purchase, according to an Aug. 3 report.
Ark bought more than 358,000 shares of SpaceX across several funds, with the purchases valued at about $26 million. The investment came ahead of the company's first earnings report following its public listing.
The firm also added $15.5 million of CoreWeave NASDAQ:CRWV after the AI cloud provider's shares fell about 15% last week. Tesla (TSLA) was another major addition, with Ark purchasing $14.3 million worth of shares after the stock reached a new 52-week low.
Ark also increased positions in Taiwan Semiconductor Manufacturing (TSM) and Nvidia NASDAQ:NVDA, buying about $8.2 million of each. Meta Platforms (META) received another $8.6 million of investment after its shares weakened following its second-quarter profit shortfall.
Meanwhile, Ark reduced several positions. Shopify (SHOP), Snowflake NYSE:SNOW and Robinhood Markets (HOOD) led the selling, while the firm also trimmed Alphabet (GOOGL), Amazon.com (AMZN), Deere (DE) and several biotechnology holdings.