Cathie Wood’s ARK Invest ETFs (exchange-traded funds) were active on Monday, May 4, 2026, as the firm continued to rebalance its portfolio. Wood stepped in to increase her bet on Shopify (SHOP), while also adding to defense giant L3Harris (LHX). At the same time, the firm pulled money out of names like CoreWeave (CRWV) and Advanced Micro Devices (AMD), signaling a continued move to lock in gains from the hardware rally.
Claim 55% Off TipRanks
Trade CRWV with leverageWhy Wood is Trimming CoreWeave and AMD
To manage recent gains, ARK continued to trim its positions in some of the year’s top-performing hardware names:
- CoreWeave (CRWV): Wood sold 99,692 shares worth about $11.86 million across the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW). This marks a shift in her strategy, as Wood had been accumulating shares of the AI cloud provider in previous sessions. She appears to be capitalizing on the stock’s 5.39% jump on Monday.
- Advanced Micro Devices (AMD): Wood sold 2,524 shares through the ARK Fintech Innovation ETF (ARKF) ETF for about $910,000. She has been systematically reducing her stake in the semiconductor giant throughout late April. The move comes just as AMD prepares to report its Q1 2026 earnings after the market close today, May 5, with investors watching closely for updates on AI chip demand.
- Teradyne (TER): The firm offloaded 17,327 shares worth approximately $5.98 million. This follows a consistent pattern of divestment from the automation company over the last several trading sessions.
Wood Doubles Down on Shopify and Defense Stock
At the same time, Wood increased her conviction in software-driven commerce and defense stock:
- Shopify (SHOP): Wood made a substantial acquisition, adding 72,322 shares across three of her ETFs. The trade, valued at roughly $9.23 million, suggests Wood sees a strong entry point in the e-commerce leader as it continues to integrate AI tools into its merchant ecosystem.
- L3Harris Technologies (LHX): ARK also increased its holdings in the defense giant by acquiring 20,147 shares through its ARKQ ETF, valued at $6.31 million. The move follows recent news of a $1 billion Department of War investment in L3Harris’s missile business, signaling Wood’s confidence in the company’s expanding role in national security.
What Are Analysts Saying About These Stocks Now?
Using the TipRanks comparison tool, Shopify and L3Harris both carry a Strong Buy consensus, while CoreWeave and AMD are rated Moderate Buy.
In terms of upside, Shopify and L3Harris offer similar potential of around 27%, whereas CoreWeave shows limited upside and AMD suggests a slight downside based on analyst price targets.
