Wall Street on Friday notched a three-week win streak after market participants finally received a long-awaited interest rate cut from the Federal Reserve, following nearly nine months of inaction on monetary policy. For the week, the benchmark S&P 500 index (SP500) added +1.2%, while the blue-chip Dow (DJI) gained +1%. The tech-heavy Nasdaq (COMP:IND) advanced +2.2%.
Cathie Wood’s Ark Investment Management acquired Brera (NASDAQ:BREA) across multiple funds, increased exposure to biotech and defense tech, while trimming its positions in health tech and some defense holdings.
At the end of the week, Cathie Wood’s Ark Innovation ETF (BATS:ARKK) held 5.14 million shares of Roku, down from 6.97 million shares held at the end of the week of August 12. However, Roku still remains the third-largest holding in the ETF. Tempus AI slipped to the ETF’s fifth-largest holding after a 2.1M share reduction, finishing the week with 5.35M shares.
Let us check weekly happenings in Cathie Wood’s actively managed ETFs here:
Cathie Wood’s flagship fund, Ark Innovation ETF (BATS:ARKK): added ~827K shares of clinical-stage gene editing company Intellia Therapeutics (NASDAQ:NTLA) over the last week. The company focuses on the development of curative genome editing treatments; its stock price jumped ~31% during the week. More biotech names added were CRISPR Therapeutics (NASDAQ:CRSP) and Beam Therapeutics (NASDAQ:BEAM).
Besides, the ARKK fund bought ~4.3 million shares in the owner of football clubs and one volleyball club—Brera (NASDAQ:BREA), which climbed ~120% during the last week.
The fund disposed ~274K shares in health tech company—Tempus AI (NASDAQ:TEM); and ~84K shares of Roku (NASDAQ:ROKU).
ARK Next Generation Internet ETF (BATS:ARKW): added ~1.4 million shares of Brera (NASDAQ:BREA) and ~49K shares in Bullish Exchange operator Bullish (NYSE:BLSH), up 31% last week. Approximately 109K and 33K shares of Figma (NYSE:FIG) and Robinhood (NASDAQ:HOOD), respectively, were also added.
ARK Genomic Revolution ETF (BATS:ARKG): added Arcturus Therapeutics (NASDAQ:ARCT) on multiple days during the last week, buying a total of ~136K shares. ARCT (NASDAQ:ARCT) stock shot up ~17% during the week. Check ARCT’s rating on the SA’s quant system. The fund sold holdings in Tempus AI (NASDAQ:TEM), cutting ~13K shares.
ARK Fintech Innovation ETF (BATS:ARKF): added ~788K shares of football club operator Brera (NASDAQ:BREA) and ~26K shares of each Airbnb (NASDAQ:ABNB) and AMD Devices (NASDAQ:AMD).
ARK Space Exploration & Innovation ETF (BATS:ARKX): added stock of robotic systems and related services provider to government agencies in the U.S.—AeroVironment (NASDAQ:AVAV) and L3Harris Technologies (NYSE:LHX), while sold ~39K shares in Kratos Defense (NASDAQ:KTOS).
ARK Autonomous Technology & Robotics ETF (BATS:ARKQ): bought Baidu (NASDAQ:BIDU), Pony AI (NASDAQ:PONY), AeroVironment (NASDAQ:AVAV), L3Harris Technologies (NYSE:LHX), while sold ~92K shares in Kratos Defense (NASDAQ:KTOS), displaying a trend similar to the ARKX fund.