Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio moves on Thursday, October 2, according to daily fund disclosures. The prominent hedge fund manager continued to invest millions in Chinese tech stocks, including Baidu (BIDU) and Alibaba (BABA).
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At the same time, Wood added a small number of shares in autonomous driving technology provider Kodiak (KDK) to the ARK Autonomous Technology & Robotics ETF (ARKQ), in line with her recent buying pattern.
On the sell side, Wood offloaded a large chunk of media streaming giant Roku (ROKU) and the recently transformed company Brera Holdings (BREA).
Wood Pours Millions into Chinese Tech Stocks
The ARK Innovation ETF (ARKK) purchased 45,478 shares of internet search giant Baidu, totaling $6.25 million. Moreover, the ARKK fund acquired 14,453 shares of e-commerce giant Alibaba, valued at $2.64 million.
Wood’s recent trades highlight her growing confidence in Chinese technology firms, which are drawing increased investor attention. Alibaba and Baidu, in particular, have gained momentum thanks to their advances in artificial intelligence (AI).
Both companies are now leveraging in-house chips to train AI models, lowering their dependence on American semiconductor giant Nvidia (NVDA). Alibaba has also rolled out a high-performance processor designed to compete directly with Nvidia’s dominance in China’s AI chip market.
Wood Trims ROKU and BREA Holdings
The ARKK ETF and the ARK Next Generation Internet ETF (ARKW) sold a total of 64,782 Roku shares, totaling $6.71 million. These sales signal growing caution about the streaming platform’s future. However, ARK has benefited significantly from its Roku investments, as shares have surged nearly 39% year-to-date.
Simultaneously, the ARKK fund sold 44,209 shares of Brea, generating $1.09 million. Wood appears to be capitalizing on BREA’s recent surge, as its stock skyrocketed over 320% in the past month.
Wood had invested $69 million in Brera’s private placement during its transformation from a multi-club sports owner to a Solana (SOL-USD)-based digital asset treasury and crypto infrastructure company, Solmate. She also invested another $162 million in the stock just last week.
Wall Street’s Take on BIDU, BABA, BREA, and ROKU
We used the TipRanks Stock Comparison Tool to determine which company is preferred by analysts.
Currently, Wall Street has assigned a “Strong Buy” consensus rating to Alibaba, with average Alibaba price target implying 1.6% upside potential over the next twelve months.
