Cathie Wood Dumps Shopify and Palantir While Going Big on Block
TLDR
- ARK sold 117,172 shares of Shopify worth nearly $17 million across three ETFs
- ARK bought 267,676 shares of Block for over $22 million, its largest purchase of the day
- MercadoLibre saw a $4.6 million buy through the ARKW ETF
- Intellia Therapeutics received a $4.6 million investment across ARKK and ARKG
- Palantir was trimmed by over $15 million combined across recent sales, with ARK still holding around $493 million in the stock
Cathie Woodโs ARK Invest made a series of portfolio moves on August 6, 2026, buying into fintech and biotech while pulling back from Shopify and Palantir.
The firmโs biggest purchase was 267,676 shares of Block for over $22.5 million. The buy was spread across ARKโs ARKK, ARKW, and ARKF funds. Block is a financial technology company that has been expanding its services beyond payment processing.
ARK also picked up 239,907 shares of MercadoLibre through its ARKW ETF, worth about $4.6 million. MercadoLibre is a major e-commerce and payments platform focused on Latin America.
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