ARK Invest Dumps $100M+ in Roku and Robinhood — See What Cathie Wood Bought Instead

TLDR

Table of Contents

ARK Invest divested $26.65M in Robinhood following workforce reduction announcement that propelled share prices higher
Approximately $77M in Roku stock was sold across ARK’s portfolios after Fox’s $22 billion buyout agreement at $160/share
ARK purchased $46.18M in Eli Lilly following share price decline and the company’s 4E Therapeutics neuroscience acquisition
$18.92M invested in Coinbase as the platform launches tokenized equities and AI-powered investment features
Tesla maintains position as ARK Innovation ETF’s top holding at 9.50%, while SpaceX enters top five

On June 18, Cathie Wood’s ARK Invest executed significant portfolio rebalancing, offloading between $60 million and $77 million in Robinhood and Roku shares while establishing fresh positions in Eli Lilly, Coinbase, and additional growth-focused companies.

The transactions occurred after both divested stocks experienced rallies triggered by company-specific developments, creating favorable exit opportunities for ARK’s fund managers.

Through the ARK Innovation ETF, the firm liquidated 275,572 Robinhood shares valued at approximately $26.65 million. This exit followed Robinhood’s disclosure of workforce reductions affecting 10% of full-time employees—roughly 290 positions—as CEO Vlad Tenev implemented efficiency measures. Market response was positive, with the announcement driving share appreciation and prompting several analysts to raise price targets.

Robinhood Markets, Inc., HOOD

Regarding Roku, ARK disposed of between 239,267 and 561,800 shares distributed across ARKK, ARKW, and ARKF funds, representing $33 million to $77.57 million in total value depending on fund allocation methodology. The timing aligned with Fox’s announcement of a $22 billion acquisition agreement at $160 per share, which effectively established a price ceiling for Roku stock. With the buyout premium largely realized, further appreciation potential became limited.

ARK Moves Cash Into Eli Lilly and Coinbase

The capital raised from these sales was strategically redeployed into positions offering what ARK perceives as developing growth drivers.

Eli Lilly represented the most substantial acquisition. ARK accumulated 41,138 shares via its ARK Genomic Revolution ETF, committing approximately $46.18 million to the pharmaceutical giant following a share price correction. The company recently completed its purchase of 4E Therapeutics, a neuroscience-focused firm developing non-opioid chronic pain therapies. This acquisition diversifies Lilly’s development portfolio beyond its prominent obesity and diabetes medication franchises.

Coinbase emerged as the second-largest purchase target. ARK accumulated 111,799 shares distributed across several funds, totaling roughly $18.92 million. The crypto exchange has been expanding its service offerings with tokenized U.S. equity products for international clients and AI-enhanced investment tools, signaling a strategic evolution beyond traditional cryptocurrency trading toward a comprehensive financial services platform.

Additionally, ARK invested $17.68 million in Block shares while establishing smaller positions in biotechnology companies.

SpaceX Enters Top Five Holdings

This portfolio reshuffling represents part of a broader strategic repositioning. Earlier that week, ARK had accumulated a substantial post-IPO stake in SpaceX, purchasing nearly 3.3 million shares worth approximately $531 million by the conclusion of its inaugural trading session.

Concurrently, Tesla CEO Elon Musk executed a substantial options exercise detailed in a separate SEC disclosure, acquiring approximately 303.96 million shares at a $23.34 strike price while relinquishing around 17.53 million shares for tax settlement purposes totaling $7.09 billion. Musk’s current holdings now stand at approximately 699.58 million shares, equivalent to a 19.9% voting interest in Tesla.

Tesla continues to occupy the leading position in ARK Innovation ETF’s portfolio at 9.50%. Robinhood ranks second at 4.93%, trailed by CRISPR Therapeutics at 4.87%, Tempus AI at 4.83%, and SpaceX at 4.71%.

These recent transactions indicate ARK’s strategy of reallocating capital from positions where immediate catalysts have materialized toward opportunities where significant developments may still be forthcoming.

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