Cathie Wood Pours Millions into Nvidia and Biotech, Dumps Rocket Lab

July 23 – Cathie Wood’s ARK Invest shifted weight toward biotech and AI, scooping up nearly $3 million of Illumina (NASDAQ:ILMN) and over $2 million of Nvidia (NASDAQ:NVDA) shares while trimming stakes in Guardant Health (NASDAQ:GH) and Rocket Lab USA (NASDAQ:RKLB).

ARK’s Genomic Revolution ETF added 31,265 Illumina shares, about $2.98 million, after Leerink Partners upheld its Buy rating and raised the price target to $120. ILMN closed roughly 7% higher on Tuesday.

The ARK Space Exploration & Innovation ETF picked up 11,973 Nvidia shares valued at $2.05 million. NVDA dipped about 3% that day, but Wood’s firm continues to back the chipmaker’s lead in artificial intelligence.

On the sell side, ARKG offloaded 68,228 Guardant Health shares for just over $3.1 million, and ARKX sold 43,481 Rocket Lab USA (NASDAQ:RKLB) shares worth around $2 million.

Both moves mark a sustained reduction in these positions.

This article first appeared on GuruFocus.