Cathie Wood Trims Positions in Amazon and Alphabet but Buys Meta Platforms
In recent days, Cathie Wood's ARK Innovation ETF (ARKK) has made notable changes to its holdings within the Magnificent Seven. On Sept. 15, she sold all remaining shares of Alphabet Class A stock (GOOGL), following a large sale on Sept. 11. Additionally, she reduced her position in Alphabet Class C stock (GOOG) by about $13 million and cut Amazon's stake by approximately $5.1 million as well. Despite trimming these positions, Wood significantly increased ARKK’s holding of Meta Platforms (META), purchasing nearly 38,000 shares for a roughly $25 million investment on Sept. 9. This boosted the ETF’s position in Meta to about 2% of its portfolio and made it larger than Alphabet's stake. The moves suggest Wood may be shifting focus within large-cap tech stocks amid recent market trends and valuation considerations, though her rationale remains unclear.
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Topics: ARKK Cathie Wood ETF Magnificent Seven stock trading activity