Ark Invest continues to pursue an aggressive buy strategy despite sharp volatility in the crypto and technology markets. The fund, led by Cathie Wood, released a comprehensive portfolio update on November 25th, including shares of both crypto-focused companies and major tech giants. The moves coincided with Bitcoin trading sideways around $87,000 and the market under pressure.
Circle and Bullish stand out
Among Ark's recent moves, Circle and Bullish stand out. The fund purchased $7.6 million worth of Circle (CRCL) and $1.5 million worth of Bullish (BLSH) shares on Tuesday. Both stocks closed lower, with Bullish losing 2.41 percent to $40.50 and Circle losing 3.62 percent to $70.11. Despite this, Ark viewed the price drop as a buying opportunity. The fund's total Bullish holdings now stand at $151.8 million. Coinbase remains the largest crypto asset in Ark's overall portfolio, accounting for 4%; Circle is second with a 2% weighting.
Cathie Wood made even bigger moves on the technology side on the same trading day. Ark Invest purchased 174,293 shares of Google's parent company, Alphabet. The total value of these purchases was estimated at approximately $56.4 million. Alphabet's share price had recently been on an upward trend due to Meta's potential shift away from Nvidia GPUs and towards Google's TPU chips, as well as interest in its Gemini AI model. While the company's approaching $4 trillion valuation bolstered the market's overall AI excitement, the pullback in related ETFs further highlighted Ark's selective buying.
Meta, along with tech giants, was also on Ark's radar. The fund acquired 33,837 Meta shares, adding to a position of approximately $21.5 million. Meta shares rose 3.78% on the same day. However, news that the company might shift its focus to Google's AI hardware instead of Nvidia's created significant volatility in the chip sector on the trading day. AMD shares fell by over 4 percent, while Ark sold 106,651 AMD shares, closing a position worth approximately $22 million.
In contrast, the fund added 396,198 shares of CoreWeave, whose dependence on the Nvidia ecosystem has been a matter of debate, adding approximately $28.2 million to its portfolio, a new technology investment. Although CoreWeave shares fell by more than 3 percent that day, Ark viewed this as a long-term growth opportunity.
On the crypto side, Ark focused not only on Circle but also on Bitcoin. The fund purchased 96,200 shares of the ARK 21Shares Bitcoin ETF, totaling approximately $2.8 million. Bitcoin's 23 percent decline in the last 30 days highlighted this move as a continuation of its "bottom-buying" strategy. Ark also expanded its fintech investments by adding 212,538 shares of Jack Dorsey's Block. Meanwhile, positions in Palantir, GitLab, and Exact Sciences were gradually reduced. The sale of Palantir, which totaled approximately $58 million, was noteworthy.
The overall picture suggests that Ark Invest actively capitalized on market declines as buying opportunities.
