Tracking Cathie Wood: Buying the dip in Robinhood and Figma; aggressively dumping Unity after earnings

U.S. Eastern Time on Wednesday, the January non-farm payroll report briefly lifted investor sentiment but failed to sustain market momentum, resulting in minor losses for all three major indices.

Cathie Wood’s overnight trades remained focused on 'fintech and crypto ecosystems,' while also executing a full exit from Unity, once a darling of the metaverse sector.

I. Direction of Increased Positions: Bought Robinhood and Figma on dips

The day's purchase list shows that ARK is making a full bet ondigital asset tradingandNext-generation productivity tools。

1. Dual giants of crypto fintech: Robinhood and Bullish

$Robinhood (HOOD.US)$: Added 433,800 shares,This is the day'slargest buy order. Following its earnings report, Robinhood plummeted nearly 9%. Q4 net profit fell 34% to $605 million, with total revenue at $1.28 billion missing Wall Street expectations. Revenue from cryptocurrency trading plummeted 38% to $221 million, becoming the biggest drag. However, 'Wood's Ark' still aggressively accumulated shares, showing ARK’s strong confidence in Robinhood as an 'investment + crypto wallet' gateway. In light of market conditions, this may indicate that Wood predicts a new surge in retail investor trading activity or has high expectations for its crypto business profitability.

$Bullish (BLSH.US)$: Added 364,100 shares,Following the purchase of 95,000 shares on February 10th,a consecutive buying spree. Sweeping up nearly 460,000 shares in two days, ARK’s positioning in this compliant crypto exchange has shifted from 'testing' to 'strategic heavy weighting.' Additionally, the purchase on the same day CRCL 75,600 sharesMs. Wood's ambition to build a 'crypto-financial empire' has become increasingly clear.

2. New Consensus Between Design and E-commerce: FIG and SHOP

$Figma Inc (FIG.US)$Increased holdings by 280,100 shares,While selling off other SaaS software, Ms. Wood aggressively added to Figma’s position against the market trend. This may indicate her belief that AI will not replace designers but will instead become a moat for the Figma platform. As the dominant force in cloud-based collaborative design, Figma's irreplaceability has been reevaluated by ARK.

$Shopify (SHOP.US)$Increased holdings by 150,400 shares, thiscompany’s Q4 revenue growth exceeded expectations, and it stated that sales growth for this quarter is expected to remain stable, yet the stock still fell nearly 7% post-earnings. Ms. Wood’s contrarian move to buy the dip suggests these companies may have been unjustly punished by the market recently.

II. Selling Actions: Aggressive Unloading of Unity Post-Earnings, Selling Ad Tech and SaaS Companies

The decision to sell was unusually decisive, especially regarding Unity, which contrasted sharply with the purchase of Roblox the day before.

1. The Abandoned Piece in Game Engines: U

$Unity Software (U.US)$Reduced holdings by 486,700 shares,The company forecasts Q1 2026 revenue midpoint at $485 million, slightly below analyst expectations of $491.8 million, with a deviation of approximately 1.4%. Despite the limited gap, given the current scrutiny on growth sustainability across the software sector, the market is highly sensitive to guidance changes, causing the stock price to plummet 26% post-earnings.

2. Retreat of Advertising and SaaS: PINS, PD, ABNB

$Pinterest (PINS.US)$Reduced holdings by 413,000 shares,ARK clearly no longer believes in the advertising growth story for image-based social platforms.

$Airbnb (ABNB.US)$Reduced holdings by 186,800 shares, possibly to avoid the impact of macroeconomic fluctuations on discretionary consumption.

$PagerDuty (PD.US)$Reduced holdings by 183,300 shares,Following the sale of 660,000 shares the previous day, further reductions were made. This stock has become marginalized in ARK's portfolio.

3. Other reductions

$Twist Bioscience (TWST.US)$Reduced by 186,000 sharesInternal capital rotation within the biotechnology sector.

$Teradyne (TER.US)$Reduced by 59,100 sharesReduction in position for automated testing equipment supplier.

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