ARK Invest buys Alphabet and Meta while selling AMD shares
Updated
Updated · Barron's · May 1
ARK Invest buys Alphabet and Meta while selling AMD shares
10 articles · Updated · Barron's · May 1
On Thursday, Cathie Wood’s firm bought 43,953 Alphabet Class C shares for ARKK and sold 172,305 AMD shares across five actively managed funds.
It also added Alphabet in ARKQ and ARKX, and bought Meta in three funds after the Facebook parent outlined heavy capital spending plans.
ARKK’s five-year annualised return was minus 8.73%, while ARKQ and ARKX gained about 9%, trailing the S&P 500 and Nasdaq despite all five funds outperforming both indexes over three years.
Could ARK Invest's bold bets on Alphabet and Meta amid the AI spending surge backfire if AI demand doesn’t keep pace with investment?
With ARK’s five-year returns still negative, what gives the firm confidence that its high-conviction, contrarian strategy will deliver long-term outperformance?