Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Thursday, September 11, according to the funds’ daily disclosures. The ace hedge fund manager continued buying shares of recently-listed IPOs (initial public offerings), while trimming the fund’s stake in Tempus AI (TEM).
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The ARK Innovation ETF (ARKK) and the ARK Genomic Revolution ETF (ARKG) sold a combined 58,629 shares of AI-driven health tech company Tempus AI, worth $4.6 million. Wood also reduced positions in Kratos Defense (KTOS) and Rocket Lab (RKLB).
Wood Eyes IPO Stocks
The largest trade of the day was the purchase of 286,026 shares of Klarna Group Plc. (KLAR), valued at $13.1 million. Klarna is a Swedish buy now, pay later giant and counts the U.S. as its second-largest market.
The company debuted on the Nasdaq on September 10 in the year’s biggest U.S. IPO to date. Shares surged over 30% on the first trading day. The ARK Fintech Innovation fund (ARKF) had already purchased about $9 million worth of Klarna shares on the previous day, underscoring Wood’s bullish view on the company’s growth potential.
Additionally, the ARK Next Generation Internet ETF (ARKW) continued to accumulate shares of design software firm Figma (FIG), buying 85,535 shares for $4.4 million. Meanwhile, the ARKF ETF added $1.8 million in shares of newly-listed crypto-trading platform Bullish (BLSH).
Wood also made other purchases on Thursday, acquiring 13,087 shares of e-commerce giant Amazon (AMZN) for $3 million, 35,309 shares of brokerage platform eToro Group Ltd (ETOR) for $1.5 million, and acquiring 78,149 shares of cloud-based restaurant management software provider Toast (TOST) for approximately $3.1 million.
Overall, these trades suggest a strategic pivot by Wood, moving away from biotech stocks and focusing more on newly listed companies. Here’s how these stocks perform on TipRanks’ Stock Comparison Tool:
