Cathie Wood Says Follow the AI Agents. Her Own Filings Show Where ARK Was Looking

Quick Read

• ARK holds Coinbase at 4% and Robinhood at 4% of its Innovation ETF, yet cut Robinhood shares across all three funds between April and July.

• Tesla stayed ARK’s largest Innovation ETF holding at nearly 10%, while AMD shares were nearly halved after a 197% year-to-date run exceeded its target weight.

• SpaceX and Cerebras entered the Innovation ETF as new positions after their IPOs, drawing the biggest fresh capital of the quarter.

Cathie Wood has a new rule of thumb for investors. “We’re probably going to be talking more and more about ‘follow the agents,'” the ARK Invest CEO said during a panel at the Houston Summit hosted by Robinhood (NASDAQ:HOOD), according to CoinDesk. Our earlier pieces looked at how much of your money an agent should be able to spend and which payment rails agents will settle on. This one asks what ARK actually owns.

ARK’s quarterly SEC holdings disclosure, dated July 31, 2026, shows US-listed long equity positions. Every change below compares share counts between the April 30 and July 31 records.

Agent-Payment Names Are All in the Book, at Modest Weights

Robinhood and Coinbase (NASDAQ:COIN) are the most direct listed ways to own agents that transact. Robinhood’s Agentic Trading drew nearly 100,000 accounts. Coinbase says 99%+ of agentic stablecoin transaction volumes in Q2 ran on Base.

In the ARK Innovation ETF, which had $5.56 billion in net assets, Coinbase was 4.17% of the fund, with shares rising from 1,460,978 to 1,584,886. Robinhood was 3.64%. In the ARK Fintech Innovation ETF, Robinhood was 5.36% and Coinbase 5.25%. Each one shows up in all three funds we reviewed, and none tops the mid-single figures.

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Recent IPOs Got the Biggest New Positions

The biggest new money went to companies that had only just gone public. SpaceX came public in a June 2026 IPO. It was 4.87% of the Innovation ETF on July 31, and did not appear in the Next Generation Internet ETF’s April records. Cerebras Systems (NASDAQ:CBRS), which serves “agentic AI flows” for customers including Block and Figma, entered the Innovation ETF at 500,719 shares, or 1.79%.

For power, the Innovation ETF held X-Energy, which went public in late April 2026, at 1.35%. Oklo, the small reactor developer with a ~14 GW customer pipeline, does not appear in any of the three records. The non-chip suppliers behind this expansion, from power to cooling to networking, are the subject of a free report we put together here.

Share counts also rose at the large-cap model builders. Meta Platforms went from 58,988 to 81,544 shares in the Next Generation Internet ETF, where Alphabet also gained shares. Tesla (NASDAQ:TSLA), which is building Robotaxi and Optimus, went from 1,653,653 to 1,740,376 shares and stayed the Innovation ETF’s largest holding at 9.74%.

AMD (NASDAQ:AMD) went the other way: shares fell from 947,960 to 465,372 in the Innovation ETF. The stock is up 197.17% year to date, and a stock that runs that hard can exceed its target weight. Taken together, ARK’s disclosed exposure to the agent economy tends toward the companies that build and power agents.

ARK Cut Robinhood Shares in All Three Funds

ARK cut Robinhood shares in all three funds. It trimmed positions from 3,825,835 to 2,336,206 in the Innovation ETF, 507,712 to 433,692 in the Fintech ETF and 1,062,442 to 846,608 in the Next Generation Internet ETF. Institutions can trim for sizing and risk reasons. Robinhood posted Q2 revenue of $1.31B (+32% YoY) and EPS of $0.62 vs a $0.43 estimate.

Next Holdings Disclosure Will Show Whether ARK Acted on the Idea

The next quarterly records will be the first one where the comment could show up in ARK’s holdings. Look for four things:

• Share counts shifted across the three ETFs. Higher Robinhood and Coinbase positions in the Innovation, Fintech and Next Generation Internet ETFs would put the agent-payment thesis into the portfolio.

• Cerebras’s share count after the stock hit a post-IPO low on Nvidia pressure and a lockup expiration.

• Oklo appearing for the first time.

• Whether AMD share counts kept falling.

Rising Robinhood and Coinbase share counts, alongside continued buying in compute and nuclear, would show ARK putting money behind Wood’s idea to “follow the agents.”

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