ARK Invest Made Major Buys in Block and Snowflake Last Week, Fully Exited Roku and Strata
Alina Collins
ARK Invest reshuffled its portfolio during June 15–19, piling into Snowflake and Block while fully exiting Roku and Strata — a clear signal that Cathie Wood is shifting chips from streaming and hardware toward AI cloud infrastructure and crypto fintech.
What did ARK buy — and who topped the list?
Snowflake (SNOW) was the week's largest purchase. ARKK and ARKW together bought 223,690 shares, worth roughly $52.5 million. This means → over $50 million into a single name in one week is an ARK-scale conviction bet.
The timing matters: Snowflake had just held its Summit 2026, unveiling an AI coding agent called "CoCo," a real-time Datastream service, and expanded partnerships with AWS and Anthropic. In plain terms = Snowflake is pivoting from "data warehouse company" to "AI infrastructure platform," and ARK is buying that narrative.
Block (SQ) followed closely — ARKK alone added 236,759 shares, about $17.7 million, right after Block's Q1 earnings beat.
Coinbase (COIN) saw a 111,799-share increase across three funds, totaling roughly $18.9 million — continuing ARK's sustained crypto-infrastructure bet.
Tesla showed up on both sides — net buy or net sell?
Tesla appeared on the buy and sell lists simultaneously: ARK purchased 54,815 shares (~$21.7 million) while selling 44,488 shares. The net move was a modest add.
In plain terms = this is routine ETF rebalancing, not a directional call. When fund flows shift daily, holdings get adjusted proportionally — simultaneous buys and sells are normal.
ARK also added 49,625 shares of Eli Lilly (LLY), plus biotech names Generate Biomedicines and Alamar Biosciences, signaling interest in large-cap pharma and innovative biotech.
Why did ARK dump every single Roku share?
The trigger was straightforward: Fox Corporation announced on June 15 a cash-and-stock offer to acquire Roku at $160 per share, implying an enterprise value of roughly $22 billion.
ARK responded by selling 1,625,682 shares across ARKK, ARKW, and ARKF — a complete exit. This means → once an acquisition price locks in Roku's near-term upside, holding the stock ties up capital that could be redeployed.
In plain terms = an acquired company's stock tracks the bid price and loses its "growth-stock optionality." That directly conflicts with ARK's high-growth thesis, so full liquidation is the logical move.
What else was sold — and what does the cut list reveal?
Strata Critical Medical (SRTA) was also fully liquidated — 1,899,529 shares sold through ARKQ and ARKX, an even larger exit than Roku by share count.
10X Genomics (TXG) was trimmed by 534,967 shares (~$15 million); Robinhood (HOOD) was reduced by 275,572 shares (~$29 million).
The broader trim list is wide: AMD (165,252 shares across four funds), Pacific Biosciences, Rocket Lab, Veracyte, Twist Bioscience, plus smaller cuts to Palantir, CoreWeave, Amazon, SoFi, and others.
This reflects a systematic de-weighting of semiconductor hardware, genomic-sequencing diagnostics, and select aerospace names — freeing capital for AI cloud platforms and crypto fintech.
What does this reshuffle tell us overall?
One-line summary: buy AI infrastructure + crypto fintech, sell streaming + hardware + diagnostics. ARK's positioning is converging on "software-defined platform companies."
This means → Cathie Wood's team currently believes the next wave of alpha comes from AI cloud ecosystems (Snowflake) and crypto financial rails (Block, Coinbase) — not from hardware manufacturing or content distribution.
One caveat: ARK's trades are public information. The market tracks and reacts to these moves, which can amplify short-term volatility in the names involved.
Content is for reference only, not financial advice.