Cathie Wood’s ARK Invest Buys DraftKings and Sells Roblox in Latest Moves

TLDR

• Cathie Wood’s ARK Investment made its largest trade on October 14, 2025, purchasing 236,289 shares of DraftKings worth $7.9 million
• ARK bought 8,901 shares of L3Harris Technologies for $2.6 million, focusing on aerospace and defense technology
• The fund sold 30,276 shares of Roblox for $3.9 million, continuing a trend of reducing its position in the gaming platform
• ARK also sold 53,917 shares of Rocket Lab for $3.5 million and reduced holdings in several other companies
• DraftKings operates online sports betting in 28 states and i-gaming in 5 states, with a market cap of $17.06 billion

Cathie Wood’s ARK Investment Management executed multiple trades on October 14, 2025, with the largest transaction involving online betting company DraftKings. The fund purchased 236,289 shares of DraftKings for $7,934,584, marking the biggest trade of the day.

DraftKings started in 2012 as a daily fantasy sports platform. After a 2018 Supreme Court ruling allowed states to legalize online sports wagering, the company expanded into sports betting and casino gambling.

The company now operates in 28 states for online or retail sports betting. It offers i-gaming services in 5 states. DraftKings also has operations in Canada, reaching about 40% of the population.

In 2024, DraftKings generated 61% of revenue from sports betting. I-gaming made up 32% of sales. Fantasy and lottery services accounted for 7% of revenue.

The company has a market capitalization of $17.06 billion. It operates in the consumer cyclical sector within the travel and leisure industry.

Defense and Technology Purchases

ARK Invest also added aerospace and defense stocks to its portfolio. The fund purchased 8,901 shares of L3Harris Technologies for $2,611,731. L3Harris makes aerospace and defense technology products.

The fund bought 4,823 shares of DoorDash for $1,319,186. It also purchased 2,966 shares of Deere & Co for $1,302,400. Deere manufactures agricultural machinery.

Roblox Position Reduced

ARK sold 30,276 shares of Roblox for $3,882,594. This sale continues a pattern from previous weeks. The fund has been steadily reducing its position in the user-generated gaming platform.

The fund also sold 53,917 shares of Rocket Lab for $3,527,250. Rocket Lab provides space launch services and makes spacecraft.

ARK sold 3,890 shares of AeroVironment for $1,594,238. AeroVironment designs and makes unmanned aircraft systems.

The fund continued selling Brera Holdings shares. It divested 23,659 shares for $367,187. This follows previous week selloffs of the same stock.

These trades reflect Wood’s investment approach. The fund focuses on companies with disruptive technology. It invests in businesses positioned for growth in emerging sectors.

The DraftKings purchase represents confidence in the online betting industry. The L3Harris buy shows continued interest in defense technology. The Roblox sale suggests a shift away from certain gaming sector positions.

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