Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Monday, September 22, according to the funds’ daily disclosures.
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The ace hedge fund manager invested roughly $21 million in Chinese technology stocks, including Alibaba Group (BABA), Baidu (BIDU), and Pony AI (PONY). These investments mark a strategic shift in the ARK Invest portfolio as Chinese companies attract growing investor attention.
Wood Bets $21M in Chinese Stocks
The largest trade was the purchase of 99,090 shares of Chinese e-commerce giant Alibaba Group (BABA), totaling $16.13 million. These shares were acquired through the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF) funds. Alibaba also operates a robust cloud-computing platform that offers proprietary large language models (LLMs) and AI development tools, and maintains a solid global logistics network.
At the same time, the ARK Autonomous Technology and Robotics ETF (ARKQ) acquired 21,245 shares of Chinese search giant Baidu (BIDU), worth $2.90 million. Apart from its dominant internet search engine in China, Baidu offers AI-powered products, cloud-computing solutions, autonomous driving through its Apollo platform, and video streaming services.
Moreover, the ARKQ ETF bought 103,002 shares of autonomous mobility company Pony AI, valued at $2.13 million. Pony AI is advancing its robotaxi ambitions with expansion into Singapore and the Middle East.
Alibaba and Baidu have gained significant popularity recently due to their AI advancements. Both companies have started using in-house AI chips to train AI models, reducing reliance on American chip giant Nvidia (NVDA). Alibaba recently introduced a high-performance processor designed to challenge Nvidia’s dominance in the Chinese market.
Wood Trims Stakes in Oklo, Roblox, and Shopify
On the sell side, Wood sold a major chunk of nuclear energy company Oklo (OKLO), selling 54,936 shares for $7.70 million. OKLO stock hit a fresh 52-week high of $142.85 yesterday, supported by rising interest in the nuclear power sector. Wedbush top analyst Daniel Ives also raised the price target on OKLO to a new Street-high of $150, citing the company’s nuclear growth strategy following meetings in Washington D.C.
Furthermore, Wood continued to trim the fund’s exposure to gaming platform Roblox (RBLX), selling stock worth $2.71 million. Wood also reduced the fund’s stake in Canadian e-commerce platform Shopify (SHOP) by $2.67 million.
Here’s how these stocks perform on TipRanks’ Stock Comparison Tool:
