Tesla, Circle and Robinhood: what stocks Cathie Wood bought and sold

The Cathie Wood fund's portfolio grew from $10 billion to $13.6 billion in the second quarter of 2025, its Form 13F report showed. ARK Invest focuses on breakthrough innovations: the fund has strengthened stakes in companies in the digital assets, semiconductors and biotechnology sectors, while reducing positions in a number of long-time favorites. In her quarterly report, Cathie Wood provides a forecast for the next six months: are the markets ready for new growth and which companies will benefit from this upswing?

In the second quarter, the fund's interest was focused on companies operating at the intersection of technology and new markets,

Participation in the June IPO of steblecoin issuer Circle Internet Group was the most notable event of the quarter for ARK. The fund purchased about 4.5 million Circle shares during the offering and already on the open market. After the quotations rose to $299, which is 850% above the offering price, the fund reduced its position - at the end of the second quarter ARK Invest had 2.9 million Circle shares in its portfolio.

Significant purchases in the second quarter were in the technology and biotech sectors. The fund almost doubled its stake in Advanced Micro Devices, a key supplier of chips for data centers and AI systems, to 2.7 million shares. In addition, the fund bought almost 87,000 shares of Amazon, which it has been building up for the second quarter in a row. At the end of June, its stake in the Internet giant was 1.1 million. ARK Invest also bought 605 thousand shares of Shopify, which specializes in e-commerce platforms for business: its stake reached 5 million securities.

In biotech, ARK increased its position by 0.2% in CRISPR Therapeutics, a developer of drugs based on gene editing technology, where it already controls more than 10% of the capital. These moves reflect the fund's strategy to increase its presence in companies that can take leading positions in growing technology markets.

At the same time, Wood continued to lock in profits in companies that have been drivers of the fund's returns in recent years. The portfolio's largest position, Tesla, which makes up 7.17% of assets, was reduced by 6% after a strong rise in quotes. Coinbase stocks in the fund's portfolio were reduced by 15%. At the same time, Coinbase remains the second largest position in the ARK Invest portfolio (6.7%).

Other significant positions of the fund were also reduced. In Robinhood and Roblox, packages were reduced by 24-25%: Robinhood added +6.9pc to the fund's total return, while Roblox provided another +4.4pc upside, ARK said in its quarterly report. Robinhood's growth was supported by strong quarterly reporting and the launch of new products, including 24/7 trading of tokenized securities.

The fund exited UiPath entirely, selling 8.3 million shares. ARK began building a position in the second to third quarters of 2021 at prices ranging from $52 to $80, shortly after the IPO of the company, one of the world's leaders in robotic process automation. The stake reduction began in late 2023 and continued through 2024. In the current quarter, the fund sold the remaining shares at prices ranging from $9.38 to $14.99, recording a loss of about 73% on the investment.

Wood is not afraid to invest in companies that are not yet profitable, but may become industry leaders in the next 7-10 years. Among the famous deals of the fund are investments in Tesla, Coinbase, Zoom, Roku, as well as participation in the development of cryptocurrency infrastructure. Wood's approach differs from the traditional one: she does not rely on current multiples, but on the ability of businesses to reduce costs, expand the availability of products and form new markets. This strategy has earned her global acclaim, especially after her flagship ARK Innovation ETF gained more than 150% in 2020.

ARK analysts believe that the "rolling recession" that has lasted for the past three years will end in the next three to six months, once there is clarity on U.S. trade, tax, regulatory and monetary policies. Wood believes that the factors that have hindered the growth of advanced technologies are giving way to sustainable growth drivers: the market is expanding, regulations are changing in cryptocurrencies, AI and healthcare, and the Trump administration's economic policies could trigger a new cycle of long-term growth.

The five areas on which the fund bases its investment strategy - artificial intelligence, blockchain, robotics, energy storage and DNA sequencing - will play a decisive role in this rise. According to Wood, companies that are still undervalued and not yet among the leaders of traditional market indexes could come out ahead. "Innovation is more likely to gain momentum in turbulent times. When consumers and businesses are concerned about the future, they are willing to change their habits. Inertia gives way to more efficient, less expensive, faster, more productive and creative ways of living and working. During the current turbulent transition in the U.S., consumers and businesses are likely to accelerate their shift toward technological innovation," writes Cathie Wood.

This article was AI-translated and verified by a human editor