Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several major portfolio changes on Monday, May 18, according to the firm’s daily trade disclosures. The ace investor continued selling semiconductor stocks such as Advanced Micro Devices (AMD) and Teradyne (TER) after their strong rally this year, while adding money to defense, e-commerce, and electric air-taxi companies such as Archer Aviation (ACHR) and Joby Aviation (JOBY).
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ARCX: an alternative to margin or options on ACHRWhat Did Cathie Wood Buy on May 18?
L3Harris Technologies (LHX) – ARK’s largest buy of the day was defense contractor L3Harris Technologies, with the firm purchasing about $3.18 million worth of shares. Defense stocks have attracted investor attention recently as governments continue increasing military and aerospace spending. LHX stock also rose 2.5% on Monday.
Amazon (AMZN) – ARK added nearly $1.84 million worth of Amazon shares. The company remains one of the largest AI and cloud computing players through Amazon Web Services, while the stock has gained more than 14% year-to-date.
Archer Aviation (ACHR) – Wood also bought around $1.7 million worth of Archer Aviation stock. Shares of the electric air taxi company are down nearly 20% this year, even though Wall Street analysts still see upside potential of over 100% ahead.
Joby Aviation (JOBY) – ARK increased its position in Joby Aviation as well, buying roughly $1.23 million worth of shares. Like Archer, Joby operates in the growing electric vertical takeoff and landing (eVTOL) aircraft market.
Here’s What Wood Sold
Advanced Micro Devices (AMD) – ARK sold about $16.3 million worth of AMD shares, continuing its recent reduction in semiconductor exposure. AMD stock has nearly doubled this year, with the stock up 98% amid strong investor enthusiasm around artificial intelligence chips and data center demand. Yesterday, Citi analyst Atif Malik raised his price target on AMD stock to $460 from $358, citing growing demand for AI-driven server CPUs.
Taiwan Semiconductor (TSM) – Wood also trimmed Taiwan Semiconductor Manufacturing after the stock climbed more than 33% year-to-date. TSM remains one of the biggest beneficiaries of rising global AI chip production demand.
Teradyne (TER) – ARK sold roughly $14.7 million worth of Teradyne shares. The semiconductor equipment company has surged over 74% this year as demand for AI-related chip-testing equipment increased.
Rocket Lab (RKLB) – At the same time, Wood reduced ARK’s Rocket Lab position after the stock jumped another 5% Monday and extended its strong 2026 rally. RKLB stock is now up nearly 79% year-to-date.
Wood’s Strategic Portfolio Shuffle
Let’s see how these stocks perform using the TipRanks Stock Comparison Tool.
Currently, most of these stocks carry a “Strong Buy” analyst consensus rating, while Archer Aviation and L3Harris hold “Moderate Buy” ratings. Among them, Archer stock offers the highest upside potential, while Rocket Lab is the only stock with downside risk based on analyst price targets.
