Key Highlights
- ARK Invest purchased 54,815 shares of Tesla valued at approximately $21.9 million on Thursday
- By June 12, ARK accumulated roughly 3.29 million SpaceX shares during its initial public offering
- SpaceX shares declined 5% on Wednesday and an additional 3.6% on Thursday, settling at $185 after peaking at $225.64
- ARK divested 721,279 Roku shares valued at approximately $99 million
- ARK acquired 223,690 Snowflake shares worth roughly $52.4 million
Cathie Wood’s ARK Invest re-entered a position in Tesla on Thursday following a previous week’s divestment. This strategic move occurred just days after ARK participated in SpaceX’s initial public offering with a significant capital commitment.
On June 18, ARK accumulated 54,815 Tesla shares distributed across two exchange-traded funds. The acquisition was divided between the ARK Innovation ETF and the ARK Next Generation Internet ETF, representing approximately $21.9 million based on Tesla’s closing price of $400.49.
Tesla continues to hold the number one position within ARK Innovation, accounting for 9.7% of the fund’s total assets. Within ARK Next Generation Internet, it represents the second-largest allocation at 8.6%.
The Tesla acquisition followed ARK’s decision to reduce its position during the previous week. This strategic selling seemingly created portfolio space for SpaceX, which completed its public market debut on June 12.
SpaceX Investment Details
By the conclusion of trading on June 12, ARK possessed approximately 3.29 million SpaceX shares distributed throughout multiple ETFs. Whether these holdings originated from IPO allocations, secondary market acquisitions, or a combination remains undisclosed, as does ARK’s average cost basis.
SpaceX experienced robust initial trading momentum following its $135 IPO pricing. The stock surged to an intraday peak of $225.64, representing a 67% gain. However, shares subsequently retreated 5% during Wednesday’s session and declined an additional 3.6% on Thursday to close at $185.
Brett Winton, ARK’s Chief Futurist, published analysis this week suggesting SpaceX could emerge as a formidable competitor in the artificial intelligence sector, leveraging orbital server infrastructure to deliver more economical compute resources compared to terrestrial providers.
Wood has consistently characterized Tesla as transcending its electric vehicle manufacturing roots. ARK’s investment thesis emphasizes autonomous taxi services, advanced robotics applications, and energy storage solutions. The firm maintains a $2,600 price projection for Tesla shares by 2029.
Roku Divestment and Snowflake Acquisition
Roku represented ARK’s highest-volume transaction on Thursday. The firm liquidated 721,279 shares for approximately $99 million. This sale extends a recent trend of progressively reducing ARK’s Roku exposure.
On the acquisition side, ARK also secured 223,690 Snowflake shares for approximately $52.4 million. This investment signals sustained conviction in the cloud-based data platform provider.
Within the biotechnology sector, ARK expanded positions in Eli Lilly, Generate Biomedicines, and Alamar Biosciences. Conversely, it reduced holdings in Strata Critical Medical, Twist Bioscience, and Baidu.
These transactions illustrate ARK’s strategic reallocation, decreasing Roku exposure while amplifying positions in Tesla, SpaceX, and Snowflake.
SpaceX concluded its inaugural trading week below its intraday peak but maintained substantial gains above its IPO price. ARK’s sizable position establishes it among the most significant institutional shareholders of the newly public aerospace company.
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