Tracking Cathie Wood: First-time purchase of WeRide,逆势 adding to e-commerce stock Shopify

Overnight, the U.S. stock market ended its five-day rally and returned to an adjustment phase, with all three major indices closing lower. The Bank of Japan's interest rate hike signals triggered volatility across global bond markets, while the cryptocurrency sector, known for its strong investment sentiment, saw the most significant declines.

Although the U.S. stock market experienced consecutive gains last week, November still marked the end of the upward momentum for U.S. tech giants that had persisted since April this year. The weak start on the first day of December indicates that investors have yet to overcome their valuation concerns regarding leading tech companies. To make matters worse, a pessimistic sentiment chain reaction emerged on Monday, spreading from Japanese bonds to cryptocurrencies and then to U.S. stocks.

Against the backdrop of current market volatility, ARK Fund, led by Cathie Wood, continues to adhere to its consistent「A strategy of going against the market trend and focusing on core innovation.The fund has recently adjusted its portfolio, significantly increasing its positions in e-commerce technology, crypto finance, gene technology, and autonomous driving sectors with long-term disruptive potential, while simultaneously divesting non-core assets to maintain the purity and strategic focus of the portfolio.

Direction of increased positions: substantial purchases of WeRide, contrarian additions to e-commerce stocks, and continued investments in cryptocurrency-related concepts.

Cathie Wood's ARK Invest has added a new stock to its portfolio — $WeRide (WRD.US)$ purchasing nearly 420,000 shares. Currently, Cathie Wood holds significant stakes in Tesla, Pony AI, and WeRide, making concrete bets on autonomous driving.

WeRide is deeply committed to autonomous driving technology, building a full-stack technology platform from L2 to L4 levels. Its main products include Robotaxi (autonomous taxis), Robobus (autonomous minibuses), Robovan (autonomous freight vehicles), Robosweeper (autonomous street sweepers), and L2-level advanced driver-assistance systems (ADAS). The company has received support from top global strategic and financial investors such as Bosch, NVIDIA, GL Ventures, Temasek, Fidelity, Invesco, Mirae Asset, M&G, Hudson Bay Capital, and Morgan Stanley Investment Management (MSIM).

Notably, Bank of America issued a research report initiating coverage on WeRide with a 'Buy' rating, setting a target price of $12 per share for its U.S.-listed stock and HK$31 for its Hong Kong-listed shares, representing potential upside of approximately 45.6% and 50%, respectively, from current levels.

ARK Invest made a contrarian increase in its position, $Shopify (SHOP.US)$ purchasing 26,420 shares on the day. Despite Shopify's stock falling 5.9% due to a system outage, Cathie Wood remains firmly optimistic about its long-term strategic value. The company not only has a robust service ecosystem in independent website building and cross-border e-commerce but also continues to integrate AI tools to enhance merchant operational efficiency.This short-term volatility is instead seen as a potential opportunity to position for its 'e-commerce + AI empowerment' strategy.

In addition, Cathie Wood continues to increase her stake in crypto-related concepts. $ARK 21Shares Bitcoin ETF (ARKB.US)$ 、 $Robinhood (HOOD.US)$ ; betting on AI healthcare. $CRISPR Therapeutics (CRSP.US)$ ; also making small purchases. $Garmin (GRMN.US)$ 、 $Kodiak AI (KDK.US)$ 、 $Deere (DE.US)$ 、 $L3Harris Technologies (LHX.US)$ 。

Reduction direction: selling satellite communications, software stocks, and other companies.

Ms. Wood has simultaneously reduced holdings in growth stocks with weakening logic, redirecting capital toward more promising innovative sectors to make structural adjustments.

ARK continued to reduce its position in satellite communications companies, $Iridium Communications (IRDM.US)$ , reduced positions in software stocks, $Gitlab (GTLB.US)$ 、 $Ibotta (IBTA.US)$ , and automation and testing equipment, $Symbotic (SYM.US)$ 、 $Teradyne (TER.US)$ 。

Against the backdrop of the end of a five-day rally in U.S. stocks and a pullback in the cryptocurrency market,the operations of ARK funds demonstrate a clear strategic focus: their buying activities target long-term value in areas such as autonomous driving, e-commerce technology (e.g., Shopify’s 'contrarian positioning'), bottom opportunities in crypto assets (e.g., ARKB), and breakthroughs in genetic technology; at the same time, reducing positions in IRDM, GTLB, and other stocksreflects proactive optimization of non-core or weakened-logic positions, with overall capital increasingly concentrated in more innovative and high-potential fields.

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