Tracking Cathie Wood: Post-earnings increase in Circle position, profit-taking on semiconductor AMD and aerospace RocketLab

On Monday, Eastern Time, driven by the continued push in the AI sector, the three major U.S. stock indexes closed slightly higher, with the S&P 500 and Nasdaq hitting new record highs. Although the momentum from Q1 earnings season has slowed due to its nearing end, compounded by geopolitical tensions and inflation expectations causing fluctuations, the performance of AI concept stocks still supported the broader market.

In this market environment, 'Wood姐' (Cathie Wood) demonstrated a clear sector rotation and capital optimization strategy on May 11: focusing her buys on a dual-track layout of 'defense hedging + AI application deployment', while adding to precision medicine at lower prices; on the sell side, she decisively took profits and reduced exposure in semiconductor hardware, aerospace, and biotech stocks that had seen significant previous gains or were facing profitability bottlenecks.

Buying focus: Dual-track layout in AI and defense, strengthening the foundation of AI healthcare technology

– Significantly increased position $Kratos Defense & Security Solutions (KTOS.US)$183,300 shares. As a company focused on drone systems and defense technology, KTOS, a supplier of drones and defense systems, exhibits strong defensive characteristics amidst increasing macro uncertainties such as the situation in the Middle East. In line with recent trends showing the U.S. defense budget tilting towards unmanned and low-cost strike systems, ARK's move aims to bet on high certainty government orders to hedge against portfolio volatility brought by the macro environment.

– Increased Position $Tempus AI (TEM.US)$ 162,800 shares.Tempus specializes in AI-driven medical data analysis and cancer diagnostics. The company recently reported strong earnings, with double-digit revenue growth and an upward revision of its full-year guidance, demonstrating the commercialization potential of AI in medical data scenarios like cancer diagnosis.

– Increased positions in $Intellia Therapeutics (NTLA.US)$ 92,200 shares and $Natera (NTRA.US)$31,100 shares.This is a strategic low-position allocation in the precision medicine sector. NTLA has recently made progress in CRISPR clinical trials, with positive feedback from the FDA reducing R&D risks; NTRA continues to consolidate its market share in non-invasive prenatal testing and tumor liquid biopsy, providing the portfolio with stable cash flow expectations.

– Increase position in the top stablecoin stock. $Circle (CRCL.US)$41,900 shares.On May 11, CRCL's stock price surged over 15%, mainly driven by favorable Q1 earnings. The company recently announced a $222 million token presale for its upcoming institutional-grade blockchain, Arc. ARK added to its CRCL position post-earnings, making a long-term bet on the value return of compliant crypto payment systems and Web3 financial infrastructure.

– Continue to increase position. $Kodiak AI (KDK.US)$61,200 shares.This further confirms ARK’s ongoing commitment to investing in the application layer of AI, tilting capital towards companies with substantial AI-enabled potential.

Sell direction: Profit-taking in semiconductor hardware at highs, removing underperforming stocks.

– Reduce position. $Twist Bioscience (TWST.US)$95,900 shares.The synthetic biology sector has recently experienced significant stock price volatility due to a high-interest-rate environment and slow commercialization progress. Although TWST holds a technical edge, it still faces substantial gross margin pressure and profitability bottlenecks in the short term. Given the sector's volatility, ARK has chosen to significantly reduce this high-risk exposure.

– Reduce holdings $Advanced Micro Devices (AMD.US)$37,800 shares.Clear profit-taking operations. The optimistic expectations for the AI chip sector have largely been priced into the stock, and AMD is facing strong market share pressure from NVIDIA as well as challenges in ramping up production for its AI accelerators. At this relatively high valuation stage, ARK has opted to cash out, reallocating liquidity toward AI software with more reasonable valuations.

– Reduce position $Rocket Lab (RKLB.US)$33,000 shares.Commercial space launch companies have seen their stock prices oscillating at high levels. Considering that the development of their next-generation launch vehicles remains in a high capital expenditure phase, ARK has adopted a strategy of reducing holdings at higher prices to secure profits.

– Respectively reduced $Veracyte (VCYT.US)$23,800 shares and $CareDx (CDNA.US)$18,000 shares.Both belong to the fields of genetic diagnostics and transplant care. Due to increasing competition in the genetic diagnostics and transplant care sectors, both companies have indicated dual pressures of pricing and market share in their recent earnings outlook. ARK has proactively reduced secondary exposure, concentrating its healthcare sector resources on leading companies.

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