Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Wednesday, November 5, as revealed in daily fund disclosures. The prominent hedge fund manager increased stakes in Chinese tech giants Alibaba (BABA) and Baidu (BIDU) while reshuffling investments between emerging healthcare and communications firms.
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In addition to these trades, Wood added to positions in cutting-edge biotech firms like CRISPR Therapeutics (CRSP), Tempus AI (TEM), and Twist Bioscience (TWST) across various ARK funds, signaling a strategic focus on healthcare innovation.
Wood Pours Millions in Chinese Firms
Wood appears to have leveraged the share price dip in e-commerce giant Alibaba, whose shares were down 3.1%. Meanwhile, Baidu witnessed a volatile session and settled down nearly flat yesterday.
The ARK Innovation ETF (ARKK) bought 117,335 shares of Alibaba, the ARK Next Generation Fintech ETF (ARKW) acquired 33,415 BABA shares, and the ARK Fintech Innovation ETF (ARKF) purchased another 6,981 shares. In total, ARK funds invested approximately $25.36 million in Alibaba.
Simultaneously, the ARKK fund purchased 12,006 shares of internet search giant Baidu and the ARK Autonomous Technology & Robotics ETF (ARKQ) bought 2,525 BIDU shares, totaling $1.92 million.
Wood Capitalizes on Share Price Surge
On the sell side, Wood trimmed holdings in several stocks to capitalize on price increases and refocus the portfolio.
The largest trade was the sale of 40,000 shares of social media platform Reddit (RDDT) for roughly $8.33 million, whose shares rose nearly 2% on November 11.
The ARK funds also reduced positions in Exact Sciences (EXAS), a cancer screening and diagnostic company, by selling 108,664 shares for $7.33 million.
Additionally, 192,986 shares of satellite company Iridium Communications (IRDM) were offloaded across ETFs, totaling $3.23 million. Both EXAS and IRDM saw modest share price increases of 1.4% and 1.5%, respectively.
Wood’s Strategic Portfolio Shuffle
These portfolio moves reflect Wood’s confidence in the growth potential of Chinese technology and biotech sectors, even as she capitalizes on gains in social media and diagnostics.
Let’s see how some of these stocks perform using the TipRanks Stock Comparison Tool:
Out of the above discussed companies, Exact Sciences and Alibaba stocks carry a “Strong Buy” consensus rating, with BABA stock offering a higher upside potential over the next twelve months.
