In the latest 13F filing, Cathie Wood’s ARK family of exchange-traded funds (ETFs) revealed a pronounced shift in sector exposure. The most headline-grabbing move was a sizable purchase of Rocket Lab Corp. that spanned three of ARK’s flagship funds, while the giant Alphabet Inc. saw a modest reduction. At the same time, the portfolio trimmed positions in Palantir and Advanced Micro Devices and added a notable stake in Archer Aviation signaling a broader reallocation toward emerging aerospace and high-growth tech.
Rocket Lab becomes ARK’s newest space champion
Across the ARK Innovation ETF (ARKK)ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space & Defense Innovation ETF (ARKX) the firm amassed a total of 369,612 Rocket Lab shares. The ARKK fund led the charge with 277,573 shares, followed by 59,746 in ARKQ and 22,293 in ARX. This accumulation follows a wave of optimism from analysts who have upgraded the company, pointing to its pending acquisition of Iridium Communications a flawless launch record of 96 Electron missions, and the imminent debut of the Neutron rocket.
Industry observers note that Neutron’s first flight, slated for later this year, could directly contend with SpaceX’s Falcon 9. The rocket’s larger payload capacity and reusable design are expected to attract a broader customer base, complementing Rocket Lab’s existing three-platform portfolio and dedicated launch sites. Management also confirmed sufficient liquidity to close the Iridium deal by mid-2027, further solidifying its long-term growth narrative.
Alphabet trimmed as AI-driven search dynamics evolve
ARK’s space-focused funds also pared back a total of 16,422 Alphabet Class A shares—11,969 from ARKQ and 4,453 from ARKX. The modest sell-off coincides with market analysts reassessing Google’s ability to retain dominance in the rapidly changing search arena. While Google Search still delivers more than half of Alphabet’s revenue and over 70 % of its profit, recent competition from OpenAI’s ChatGPT and emerging generative AI tools prompted a brief dip in market share earlier in 2025.
Some experts argue that Alphabet’s renewed share gains, bolstered by its Gemini AI platform and expanding use of Tensor Processing Units could restore its advertising engine’s momentum. However, the AI battlefield remains fluid, and the company’s long-term advantage hinges on continued innovation and the ability to integrate AI across its product ecosystem.
Other portfolio rotations: Palantir, AMD, Archer Aviation, and newer picks
Beyond the space and search narratives, ARK disclosed sales of 21,335 shares of Twist Bioscience 49,651 of 10x Genomics and a modest purchase of 9,519 Beam Therapeutics shares. Most striking were the exits from Palantir Technologies and Advanced Micro Devices (AMD) both of which had become some of the largest positions in the flagship ARKK fund. Wood’s team characterized these trades as profit-taking after considerable upside, rather than a loss of confidence.
Simultaneously, the ARK Innovation ETF allocated roughly $3.35 million to Archer Aviation a developer of electric vertical take-off and landing (eVTOL) aircraft. Archer’s recent agreement with Boeing—which includes the acquisition of Boeing’s Insitu, SkyGrid, and Wisk Aero units in exchange for a 16.5 % equity stake—offers a strategic partnership that could accelerate Archer’s market entry. Although Archer’s shares have slipped about 31 % year-to-date, Wood appears comfortable with the risk-reward profile, viewing the valuation dip as a buying opportunity.
ARK’s funds also nudged up exposure to more familiar names: Meta PlatformsAirbnb and Beam Therapeutics. Meta’s recent surge, driven by the rapid adoption of its AI-powered Muse app, earned an upgraded price target from Wall Street. Airbnb continues its double-digit revenue growth despite a challenging travel environment, while Beam’s gene-editing pipeline, highlighted by the promising BEAM-302 trial, kept the biotech sector in focus. Each of these positions remains a relatively small slice of the
By bolstering space launch capabilities, moderating exposure to established AI players, and embracing high-risk aviation and biotech ventures, Wood’s ARK funds aim to capture the next wave of disruptive innovation while preserving capital from recent winners.
