ARK Invest Exits Roku and Robinhood: Here’s What Cathie Wood Is Buying Instead

TLDR

• ARK Invest divested $26.65M worth of Robinhood stock following the company’s workforce reduction announcement that drove share prices higher
• Approximately $77M in Roku holdings were liquidated across ARK’s funds after Fox’s $22B buyout deal was announced at $160/share
• ARK purchased $46.18M in Eli Lilly stock during a price dip, capitalizing on the company’s 4E Therapeutics acquisition
• Coinbase saw $18.92M in fresh ARK investment as the platform expands into tokenized equities and AI-powered investment products
• ARK Innovation ETF maintains Tesla as its top allocation at 9.50%, while SpaceX has entered the fund’s top five positions

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

The strategic repositioning occurred as both exited stocks experienced rally momentum tied to specific corporate developments, creating an opportune moment for ARK to realize profits.

Through its ARK Innovation ETF, the firm liquidated 275,572 Robinhood shares valued at approximately $26.65 million. This divestment followed Robinhood’s disclosure of plans to eliminate roughly 10% of its permanent staff—approximately 290 positions—as part of CEO Vlad Tenev’s efficiency initiative. The restructuring announcement propelled the stock higher and prompted several analysts to revise their price targets upward.

Robinhood Markets, Inc., HOOD

Regarding Roku, ARK disposed of between 239,267 and 561,800 shares distributed across ARKK, ARKW, and ARKF, representing $33 million to $77.57 million in total value depending on specific fund allocations. These sales transpired immediately after Fox’s announcement of its $22 billion acquisition agreement at $160 per share, which drove Roku’s trading price toward that threshold. With a definitive buyout price established, the stock’s potential for additional appreciation became severely limited.

Capital Redeployment Focuses on Eli Lilly and Coinbase

ARK channeled the liquidated capital into positions where the firm identifies emerging growth catalysts.

Eli Lilly represented the most substantial acquisition. ARK accumulated 41,138 shares via its ARK Genomic Revolution ETF, deploying approximately $46.18 million into the pharmaceutical giant during a price correction. Lilly recently completed its acquisition of 4E Therapeutics, a neuroscience-focused firm developing non-opioid chronic pain therapies. This transaction expands Lilly’s development pipeline beyond its established obesity and diabetes pharmaceutical franchises.

Coinbase emerged as the second-largest purchase. ARK acquired 111,799 shares distributed across several funds, totaling roughly $18.92 million. Coinbase has been introducing tokenized U.S. equity products for international clients alongside AI-powered investment platforms, transitioning from a pure cryptocurrency exchange toward a comprehensive financial services provider.

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

SpaceX Secures Position Among Top Five Holdings

This portfolio realignment occurred within a broader strategic context. Earlier during the same week, ARK established a substantial post-IPO stake in SpaceX, purchasing nearly 3.3 million shares valued at approximately $531 million by the conclusion of the initial trading session.

Concurrently, Tesla CEO Elon Musk executed stock options in a transaction disclosed through SEC filings, acquiring approximately 303.96 million shares at a $23.34 strike price while relinquishing around 17.53 million shares to satisfy a $7.09 billion tax obligation. Musk’s current holdings total approximately 699.58 million shares, constituting a 19.9% voting interest in Tesla.

Tesla maintains its position as ARK Innovation ETF’s largest allocation at 9.50%. Robinhood ranks second at 4.93%, with CRISPR Therapeutics at 4.87%, Tempus AI at 4.83%, and SpaceX at 4.71% rounding out the top five.

These recent transactions indicate ARK is reallocating capital from equities where immediate catalysts have materialized toward companies positioned for upcoming developments.

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