Cathie Wood\u2019s ARK Invest purchased roughly $444 million worth of SpaceX shares on June 12 while reducing its exposure to Advanced Micro Devices, making one of its biggest portfolio shifts as Elon Musk\u2019s rocket company began trading on public markets.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to data compiled by ARK Invest Tracker, the investment firm acquired a total of 3,291,184 SpaceX shares across its ARKK, ARKQ, ARKW, and ARKX exchange-traded funds. The purchases were valued at approximately $444.3 million.<\/p>\n The largest allocation came through the ARKK Innovation ETF, which bought 1.69 million shares. ARKQ added 736,442 shares, while ARKW and ARKX purchased 325,562 and 538,341 shares, respectively.<\/p>\n At the same time, ARK trimmed its position in AMD by selling 80,536 shares across ARKQ, ARKW, and ARKX. The transaction was valued at roughly $39.3 million and continued a broader reduction in the semiconductor company\u2019s weighting within ARK\u2019s portfolios.<\/p>\n ARK\u2019s aggressive purchase came as investors rushed into SpaceX during its first day as a publicly traded company.<\/p>\n As reported<\/a> by crypto.news earlier, the company priced its IPO at $135 per share, implying a valuation of roughly $1.77 trillion. Shares climbed as high as $176.52 during their first trading session before closing at $160.95, giving the company a market capitalization above $2.1 trillion.<\/p>\n The rally also pushed Elon Musk\u2019s net worth above the $1 trillion mark, making him the world\u2019s first trillionaire according to multiple wealth estimates published following the debut.<\/p>\n <\/p>\n ARK\u2019s latest purchase builds on a relationship that began well before SpaceX entered public markets. The investment firm first gained exposure to the company through its ARK Venture Fund in 2023, allowing investors to participate in the aerospace company\u2019s growth while it remained private.<\/p>\n According to ARK data, SpaceX represented 11.38% of the ARK Venture Fund\u2019s net assets as of May 31, making it the fund\u2019s largest holding. Earlier in the year, the position accounted for 17.02% of net assets, indicating that the fund\u2019s weighting has fluctuated over time as valuations and portfolio allocations changed.<\/p>\n Wood has remained one of Musk\u2019s most vocal supporters. Earlier this month, she told<\/a> Fox Business that \u201cSpaceX has a 10-year lead on any other company,\u201d reflecting ARK\u2019s view that the company maintains a significant competitive advantage in both space transportation and satellite communications.<\/p>\n\n
ARK increased its SpaceX exposure after years of backing Musk\u2019s company<\/h2>\n
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