Cathie Wood’s ARK Buys SpaceX and Coinbase

Cathie Wood’s ARK Invest bought roughly $17.8 million of SpaceX shares and $13.85 million of Coinbase shares in its latest disclosed trading session, while cutting positions in AMD, Roku, Deere and 10X Genomics.

The July 10 trade list shows a broad portfolio rotation rather than a single-company bet. Purchases and sales were distributed across several ETFs with different investment mandates.

SpaceX was the largest purchase

ARK acquired 116,971 shares of Space Exploration Technologies Corp., valued at approximately $17,798,307 at the trade price used in the disclosure.

The purchase followed repeated additions during the week and came as SpaceX shares closed lower on Friday.

Buying after a decline is consistent with ARK’s active-management approach, which often adds to companies when market moves reduce their portfolio weights or when managers believe the long-term thesis remains stronger than the short-term price action.

The trade should not be read as a single fund placing all $17.8 million into one account.

SpaceX exposure can appear in ARK funds with broad innovation, internet, autonomous-technology or space-and-defense mandates. The ARKX fund page says the portfolio targets companies connected to space and defense innovation and warns that aerospace holdings can be affected by government spending, regulation and global events.

The purchase also increases exposure to a stock that has experienced sharp moves since becoming publicly traded.

That volatility can create both opportunity and concentration pressure. Active funds may need to keep buying after a drop or trim after a rally to maintain target weights.

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Coinbase was bought across three ETFs

ARK acquired 87,409 Coinbase shares worth about $13,849,081.

The purchases were spread across ARKK, ARKW and ARKF, according to the trade notification.

Those funds approach Coinbase from different angles.

ARKK is the firm’s broad disruptive-innovation strategy. ARKW targets next-generation internet themes, including digital assets and smart contracts, while ARKF focuses on financial technology.

The ARKW fund description specifically includes digital assets, cryptocurrencies, digital wallets and smart contracts among its target themes.

Coinbase can therefore satisfy more than one mandate at the same time.

Its business is tied to crypto trading activity, custody, subscriptions, stablecoins, institutional services and blockchain infrastructure. That gives ARK several reasons to hold it, but also exposes the funds to crypto-market cycles, regulation and trading-volume swings.

A purchase across three ETFs does not mean every fund has the same position size or risk tolerance.

Each portfolio has its own assets, holdings and concentration limits. A trade that looks large in total may represent a modest weight adjustment inside each fund.

AMD sales funded a different risk mix

ARK sold 19,540 AMD shares worth approximately $10.68 million across ARKK, ARKQ and ARKX.

The semiconductor company remained a major market performer, making the sale notable.

Active managers do not need to turn negative on a company before selling it.

A strong price move can push a holding above its target weight. Managers may also decide that another stock offers more upside relative to current valuation or that one theme has become too dominant inside the portfolio.

The AMD reduction moved capital away from a large, liquid semiconductor name while the firm added SpaceX, Coinbase, selected biotech companies and X-Energy.

That changes the portfolio’s risk distribution.

AMD is still volatile, but it has deeper liquidity and a more established earnings base than several of the names ARK purchased. Replacing part of that position with earlier-stage or more cyclical holdings can raise both upside potential and drawdown risk.

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Roku, 10X Genomics and Deere were also reduced

ARK sold 158,592 shares of 10X Genomics worth about $6.84 million.

It also sold 45,625 Roku shares valued near $6.4 million and 11,092 Deere shares worth roughly $6.58 million.

The three sales span genomics, streaming and industrial equipment.

That breadth matters because it shows the day was not a narrow shift from one technology company to another.

Roku has long been associated with ARK’s internet and media thesis. A sale can reflect valuation, weight management or a changing view of advertising and streaming economics.

10X Genomics sits inside the firm’s life-sciences theme, while Deere fits automation, robotics and precision agriculture.

Reducing all three on the same day created capacity for purchases in other high-conviction areas without requiring the funds to raise large amounts of cash.

Biotech purchases were smaller but strategically consistent

ARK added 293,106 Prime Medicine shares worth about $1.24 million through ARKG.

The firm also purchased 54,804 Generate Biomedicines shares for roughly $862,000 and 28,276 Tempus AI shares for about $1.74 million.

Those transactions were smaller than the SpaceX and Coinbase buys but aligned closely with ARK’s genomic and artificial-intelligence research themes.

Smaller-dollar purchases can still matter in less liquid companies.

A $1 million trade in a smaller biotech name may change a fund’s ownership or daily volume exposure more meaningfully than a much larger trade in Coinbase or AMD.

Investors comparing ARK’s trades should therefore look at portfolio weight, company market value and trading liquidity rather than dollar value alone.

X-Energy added another energy and infrastructure position

ARK bought 137,071 X-Energy shares worth approximately $2.28 million.

The purchase adds exposure to advanced nuclear technology and energy infrastructure.

That theme can connect with rising electricity demand from data centers, manufacturing and electrification.

It also carries regulatory, construction, financing and project-execution risk. Nuclear developers may require long approval periods and substantial capital before generating commercial revenue.

The trade fits ARK’s preference for technologies that could reshape large systems, but it is not evidence that project timelines or returns are guaranteed.

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Daily trade emails are not full investment theses

ARK’s trade notifications show what the funds bought and sold during a session.

They do not provide the complete reason for every transaction.

A purchase can reflect conviction, rebalancing, cash flows or a price move. A sale can reflect risk limits, redemptions, tax management, valuation or the need to fund another position.

The ARKK fund page warns that the strategy is non-diversified and more volatile than broad market averages.

That disclosure is central to interpreting the trade list.

ARK is not attempting to mirror the market. It concentrates in companies it believes could benefit from disruptive innovation, which means its portfolios can differ sharply from major indexes and experience larger drawdowns.

The clearest signal is the direction of the rotation

The day’s largest buys increased exposure to space and crypto infrastructure.

The largest sales reduced semiconductor, genomics, streaming and industrial positions.

That does not prove ARK has abandoned any of the sold themes.

It shows where the manager chose to deploy incremental capital at the end of the week. Future holdings reports will reveal whether the trades were one-day adjustments or part of a larger shift.

TL;DR

• ARK bought 116,971 SpaceX shares worth about $17.8 million.

• It bought 87,409 Coinbase shares worth about $13.85 million.

• Coinbase purchases were spread across ARKK, ARKW and ARKF.

• ARK sold AMD, Roku, 10X Genomics and Deere shares.

• It also added Prime Medicine, Tempus AI, Generate Biomedicines and X-Energy.

• Daily trade notices do not explain every portfolio-management reason.

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