Cathie Wood's ARK Invest bought 3.29 million SpaceX shares after the blockbuster IPO, while trimming Tesla and AMD to free up cash. The purchase positions SpaceX as a top ARK holding by cost basis.
Cathie Wood's ARK Invest bought 3.29 million shares of SpaceX (SPCX) after the space company's blockbuster IPO debut, a regulatory filing shows.
The same filing revealed ARK trimmed positions in several of its better-known holdings on the same day. The firm sold shares of Tesla (TSLA), Advanced Micro Devices (AMD), Rocket Lab USA (RKLB), and Roku (ROKU).
SpaceX closed its first trading day with a market valuation above $300 billion, the largest company to go public this year. Demand was strong from both institutional and retail desks, with order books covered multiple times over in the first hours of trading. ARK's purchase occurred during that initial session.
Wood has called SpaceX a structural disruptor in aerospace and telecom in past fund communications. The firm's addition of shares at the IPO open marks its first disclosed position in the stock since the listing.
The sales side of the trade looks like a rotation. ARK's TSLA position has been its largest single-stock weight for years. The fund has trimmed it at intervals this year. AMD and ROKU have also been trimmed in prior monthly disclosures. This latest round of selling appears to have freed up cash for the SpaceX allocation.
ARK's TSLA stock page TSLA stock page carries an Alpha Score of 34/100, labeled Weak, with the stock trading at $406.43. AMD's stock page AMD stock page scores 58/100, labeled Moderate. The trimming of both names coincided with the SpaceX purchase, a rotation visible in the daily trade data.
SpaceX faces its own set of risks. The valuation above $300 billion prices in years of Starlink revenue growth and Starship operational milestones that have not yet been met. The stock is also thinly traded relative to its market cap. That creates the potential for amplified price swings when large blocks change hands.
ARK's SpaceX addition is not a small tactical trade. At roughly 3.29 million shares, the position ranks among the largest by cost basis across the ARK suite.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.