Ark Invest Boosts SpaceX Stake While Cutting Block, Bullish and Robinhood Holdings

Cathie Wood’s investment firm Ark Invest purchased $12.2 million worth of SpaceX shares on Tuesday, while reducing its positions in Block Inc., Bullish and Robinhood as part of routine portfolio adjustments.

SpaceX Purchase Details

Trading disclosures show Ark bought 105,108 SpaceX shares across several of its exchange-traded funds. SpaceX stock closed up 2.56% at $116.41 that day, though shares remain down 29% over the past month. Ark also added smaller amounts of Bitmine shares and a Solana staking ETF to its holdings.

Trimmed Positions Across Fintech Stocks

At the same time, Ark sold $2.3 million worth of Block Inc. shares, $1.6 million worth of Bullish, and $4 million worth of Robinhood. Block shares still closed higher that day, up 2.29% at $83.10, while Bullish dipped slightly to $22.69 and Robinhood fell 3% to $92.76.

Why Ark Rebalances Its Funds

Ark regularly adjusts its ETF holdings to prevent any single stock from making up more than 10% of a fund’s total portfolio. This means the firm frequently buys or sells shares as asset values shift, keeping its funds balanced rather than reacting to short-term price movements alone.