Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Wednesday, November 26, as revealed in daily fund disclosures. The prominent hedge fund manager sold a substantial portion of one of her favorite stocks, Tesla (TSLA), while increasing investments in Coinbase Global (COIN), Deere (DE), and other biotech firms. These trades indicate Wood’s strategic shifts toward the cryptocurrency and biotech sectors and a surprising move away from the electric vehicle (EV) giant, despite the company making major inroads in the robotaxi market.
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Wood Capitalizes on TSLA’s Price Jump
Tesla stock gained 1.7% yesterday, but Wood has been consistently selling Tesla shares since early November. Yesterday, the ARK Innovation ETF (ARKK) sold 27,102 Tesla shares valued at roughly $11.37 million. Despite these sales, Tesla still remains the largest holding in the ARKK ETF.
Tesla’s market capitalization recently surged by nearly $90 billion, driven by investor excitement about its AI and self-driving car projects. However, there are concerns as Tesla’s main EV business faces challenges, with sales in Europe dropping 48.5% year-over-year in October.
Alongside Tesla sales, ARK funds also reduced stakes in 10X Genomics (TXG), Gitlab (GTLB), Exact Sciences (EXAS), Iridium (IRDM), and Ibotta (IBTA), among others.
Wood Pours Millions into COIN and DE Shares
Wood invested heavily in Coinbase stock, purchasing 62,166 shares worth $15.79 million across multiple ARK funds. ARK funds have been consistently accumulating COIN stock, with its shares down 26.7% over the past month. Despite reporting strong third-quarter results, two analysts recently downgraded COIN stock, citing stretched valuation. Meanwhile, Bitcoin (BTC-USD) prices have also fallen by nearly 21% during the same period.
Simultaneously, Wood acquired 30,518 shares of Deere & Co. worth about $15 million through the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Space Exploration & Innovation ETF (ARKX). DE stock fell 5.7% yesterday, despite beating Q4 FY25 sales and earnings estimates. The decline is likely due to a weaker fiscal 2026 outlook, but Wood likely sees this as a buying opportunity, betting on Deere’s long-term potential.
ARK also made smaller purchases of CoreWeave (CRWV), CRISPR Therapeutics (CRSP), Klarna (KLAR), and Recursion Pharmaceuticals (RXRX).
Wood’s Strategic Portfolio Shuffle
Let’s see how some of these stocks perform using the TipRanks Stock Comparison Tool:
Currently, none of these companies carry a “Strong Buy” consensus rating, indicating analysts remain cautiously optimistic about their long-term outlook. However, Deere stands out with a TipRanks’ Smart Score of Nine, implying that it is highly likely to outperform market expectations.
