Ark Invest Cuts SpaceX Stake During Portfolio Reshuffle

Ark Invest reduced its SpaceX position on October 6 as Cathie Wood’s investment firm reshuffled several growth-focused portfolios, selling shares of the private space company while maintaining significant exposure across multiple funds. The move came as Ark adjusted holdings in technology and healthcare companies, according to reports from the Globe and Mail and Yahoo Finance.

According to the Globe and Mail, Ark sold 54,873 SpaceX shares from the Next Generation Technology ETF, representing about 0.4% of that fund’s position. The report said the transaction was a small reduction rather than a broad exit from the company.

Ark Invest continues to hold SpaceX across several investment vehicles, including the Ark Disruptive Innovation ETF, Ark Autonomous Tech and Robotics ETF, Ark Space and Defense Innovation ETF, and Ark Venture Fund, according to the Globe and Mail. SpaceX remains one of the firm’s larger holdings.

The Globe and Mail reported that Ark has maintained a positive view of SpaceX because of its Starlink satellite broadband business and the potential expansion of the space economy. The firm estimates reusable rocket launchers could create a $160 billion market opportunity.

According to the Globe and Mail, Starlink subscriber numbers doubled to 12 million in the second quarter, while the service expanded through more than 11,000 satellites. The report said Starlink revenue increased 66% year over year and operating income rose 79% during the same period.

The Globe and Mail also reported that SpaceX revenue increased 29% year over year in the second quarter. Starlink was described as the company’s only profitable segment, while rocket launches and its artificial intelligence-related efforts remain areas requiring further investment.

Yahoo Finance reported that Ark’s selling activity extended beyond SpaceX, with the firm reducing positions in companies including Advanced Micro Devices, Alphabet, Robinhood Markets, and Shopify. The trades were spread across several exchange traded funds rather than being limited to a single portfolio.

The same report said Ark directed buying activity toward biotechnology companies through the Ark Genomic Revolution ETF. Purchases included CRISPR Therapeutics, Intellia Therapeutics, Beam Therapeutics, Nurix Therapeutics, Guardant Health, Kymera Therapeutics, Compass Pathways, Alamar Biosciences, and Freenome.

TradingView reported that Ark also sold shares of Advanced Micro Devices, Alphabet, and Meta Platforms, with the combined value of those sales estimated at about $36.96 million. The report said the transactions reflected portfolio adjustments involving major technology holdings.

According to TradingView, Ark’s recent changes also included increased exposure to technology and defense-related companies through other portfolio adjustments. The firm’s latest transactions continued its pattern of frequently rebalancing holdings across sectors.