Cathie Wood Bets Millions On Robinhood And Netflix, Dumps AMD And Palantir

This article first appeared on GuruFocus.

Oct 23 – Cathie Wood’s ARK ETFs Made Large Bets In Fintech And Media While Trimming Semiconductors, According To Wednesday Trade Filings.

The firm bought 167,489 shares of Robinhood Markets (NASDAQ:HOOD) worth about $22.1 million, splitting the purchase between ARK Innovation (ARKK) and ARK Next Generation Internet (ARKW). It also added 15,756 shares of Netflix (NASDAQ:NFLX) at roughly $19.6 million, signaling continued interest in fintech and streaming names. On the sell side, ARK pared exposure to several prior holdings.

The firm sold 44,909 shares of Advanced Micro Devices (NASDAQ:AMD) for about $10.7 million, and trimmed 23,768 shares of Palantir Technologies (NASDAQ:PLTR) for roughly $4.3 million.

Other notable disposals included 111,849 Roblox (RBLX) shares ($14.9 million) and 55,255 Roku (ROKU) shares ($5.4 million).

ARK also continued to reduce positions in names like Adaptive Biotechnologies (ADPT) while modestly buying smaller stakes in Arcturus Therapeutics (ARCT) and cutting holdings in CareDx (CDNA), Personalis (PSNL), Shopify (SHOP) and Veracyte (VCYT).