Following Cathie Wood: Buy CoreWeave on dips, take profits on AMD and Rocket Lab at highs

Last Friday (May 8), driven by the latest US employment data, AI concept stocks remained strong, with both the S&P 500 and Nasdaq hitting new highs, while the Dow rose slightly by 0.02%. For the week, both the S&P 500 and Nasdaq achieved their longest six-week winning streaks since the beginning of 2024.

Under these market conditions, ARK's portfolio adjustments on May 8 demonstrated decisive 'horse switching' within sectors and cross-sector positioning: on the buying side, heavily adding positions in the new autonomous trucking star $Kodiak AI (KDK.US)$ and the leading restaurant SaaS provider $Toast (TOST.US)$ , while continuing to increase exposure to AI infrastructure and the defense sector; on the selling side, aggressively liquidating positions in another player in the unmanned driving space $AURORA (03037.MY)$ , taking profits on aerospace stocks that surged after strong earnings $Rocket Lab (RKLB.US)$ , and continuing to take profits on semiconductor hardware stocks at higher levels.

Buying Focus: Precise 'Switching Horses' in the Autonomous Driving Sector, Aggressively Accumulating High-Performing SaaS and AI Infrastructure Stocks

– Aggressively sweeping in$Kodiak AI (KDK.US)$394,200 shares.Kodiak is a leading company focused on autonomous trucking and defense unmanned technology. Combined with the large-scale sell-off of nearly 386,000 shares of its competitor Aurora (AUR) on the same day, this is a textbook case of 'switching horses' within the sector. Kodiak has recently made substantial progress in commercial freight and securing contracts for unmanned ground vehicles with the US Department of Defense. ARK chose to withdraw funds from AUR, which has had a volatile commercialization process, and bet on KDK, which has a clearer path to monetization and offers 'defense sector hedging'.

– Add to position$Toast (TOST.US)$212,300 shares.Toast is the leading SaaS platform for the U.S. restaurant industry. The company recently announced strong first-quarter earnings, with both revenue and profitability exceeding expectations, and raised its full-year guidance. However, the stock price fell sharply against the market after the earnings release. 'Wood姐' (Cathie Wood) heavily added to her position at the lower price, betting on the company’s high switching costs and pricing power, which is a classic 'buying the dip' strategy.

– Continuing to increase investment in AI computing power infrastructure and advanced defense.ARK adds to its position in an AI cloud computing unicorn at a lower price $CoreWeave (CRWV.US)$ 113,100 shares, continuing to add to defense companies$Kratos Defense & Security Solutions (KTOS.US)$ 168,400 shares, as well as a nuclear energy newcomer$X-Energy (XE.US)$ 57,100 shares. These three investments outline ARK’s foundational strategy for the 'future form of AI': computing power (CRWV) + energy (XE) + unmanned terminal applications (KTOS/KDK).

– Sticking firmly to the biotech sector.Buying gene-editing giant $Intellia Therapeutics (NTLA.US)$ 26,300 shares and an AI drug discovery company $Absci Corp (ABSI.US)$ 26,300 shares. After completing the cleanup of traditional genetic testing sectors, capital is steadily flowing into these core targets of 'next-generation precision medicine' that master AI algorithms and underlying editing technologies.

Selling direction: Dump AUR, continuing to cash out semiconductor hardware and aerospace stocks at high positions.

– Sell $Aurora Innovation (AUR.US)$385,900 shares.As a direct competitor of Kodiak (KDK), Aurora is facing dual pressures of high cash burn and delayed commercialization. In the current high-interest environment, the market has extremely low tolerance for such companies that continue to 'burn cash.'

– Reduce holdings $Rocket Lab (RKLB.US)$187,600 shares.Benefiting from the latest earnings report, RKLB’s stock price surged significantly post-results. ARK chose to aggressively reduce its position by nearly 190,000 shares during the strong stock performance, which is a classic case of 'taking profits while prices are high' to secure gains.

– Reduce position in AI chip giant $Advanced Micro Devices (AMD.US)$46,000 shares and semiconductor testing equipment provider $Teradyne (TER.US)$8,821 shares.Continuing to take profits on hardware assets at their highs. This marks ARK's consecutive days of reducing its position in the semiconductor hardware sector. With the AI hardware sector’s positive factors mostly priced in and valuations at historical highs, institutional investors have decisively chosen to 'lock in' their gains.

– Reduce holdings $Twist Bioscience (TWST.US)$11,500 shares.Following the logic from the past few days, this unprofitable synthetic biology company is continuously being removed from the core portfolio.

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