On September 14, Wood’s ARK Innovation ETF (ARKK) sold 11.7% of its Alphabet Class C shares, a transaction valued at about $13 million, and on September 15 she disposed of the remaining 93 Class A shares after a prior sale of 1,784 shares on September 11. As of September 16 the fund still held roughly 288,000 Alphabet shares worth $98 million, representing 1.5% of its $5.6 billion portfolio.
The same period saw the fund offload 20,000 Amazon shares – about 3.2% of its holding – for an estimated $5.1 million. Despite the sale, ARKK retained roughly 614,000 Amazon shares valued at $152 million, or 2.37% of the portfolio.
In contrast, Wood turned to Meta Platforms, purchasing approximately 38,000 shares on September 9 for close to $25 million. The addition raised ARKK’s Meta stake to about 191,000 shares worth $128 million, now 2% of the fund and larger than its Alphabet exposure.
The moves come after both Amazon and Alphabet experienced price declines following sharp gains in July and August. Analysts note that, despite recent dips, the two stocks remain relatively cheap – Alphabet trades at about 17 times earnings and Amazon at 19 times – while Meta has been on a 14% monthly rally and trades at a forward P/E near 20.
Wood’s rebalancing has drawn speculation about the fund’s outlook on artificial‑intelligence spending. Some observers suggest the cuts could reflect concerns over slower AI model development, whereas the Meta purchase may be tied to the company’s new Muse AI agent and its potential to monetize AI investments.
ARKK’s top holdings continue to be dominated by Tesla (9.66% of assets) and other technology names, with an expense ratio of 0.75%. The recent portfolio adjustments highlight Wood’s willingness to shift exposure among the so‑called “Magnificent Seven” stocks as market dynamics evolve.