On Monday (August 17), the three major US stock indices closed lower collectively. The S&P 500 fell 0.52% to 7,745.06 points, the Nasdaq dropped 0.32% to 26,644.91 points, and the Dow Jones declined 0.51% to 53,459.78 points. Overall market sentiment remained cautious, with pressure on technology and growth stocks.
Against this backdrop, Cathie Wood took advantage of the market pullback to selectively increase positions in core sectors such as healthcare innovation, AI infrastructure, fintech, and blockchain. Simultaneously, she trimmed positions in targets that had already seen significant gains or whose investment thesis had weakened at the margin, demonstrating her consistent strategy of "shedding weak holdings while keeping strong ones" and precise allocation.
Buy Direction: Increase exposure to core innovation sectors during dips; cast a wide net to allocate into disruptive technologies
$Cerus (CERS.US)$ The largest purchase volume of the day reached 451,278 shares. Cerus focuses on blood safety and pathogen inactivation technology. Its INTERCEPT Blood System has established significant competitive barriers in the global transfusion safety sector. ARK likely sees its long-term potential in transforming healthcare infrastructure and increased its allocation during the market adjustment.
$Block (XYZ.US)$ Increased by 191,671 shares. Block's Cash App and Spiral continue to advance the integration of the Bitcoin payment ecosystem. Amid the trend toward cryptocurrency compliance, ARK may view its dual-drive model in fintech and blockchain...

Commercial spaceflight is undergoing a significant transformation: evolving from government-led exploration projects into an independent asset class allocable by institutional capital.
Goldman Sachs Global Institute recently released"The Second Space Age"a report pointing out that with launch costs dropping significantly, private capital accelerating its inflow, and aerospace companies increasingly listing on public markets,the space economy is becoming a "new pillar of the industrial economy."
$SpaceX (SPCX.US)$ The latest shareholder map is the most intuitive reflection of this trend.
Beyond Musk, institutional shareholders now hold nearly 30% of the shares.
According to Bloomberg data, Musk remains SpaceX's largest shareholder, holding 849 million shares, representing approximately 11.04% of the company.
But even more noteworthy is the lineup of institutional investors backing Musk.
$Alphabet-C (GOOG.US)$ holding 551 million shares, accounting for 7.16%, making it the second-largest shareholder; Valor Management holds 503 million shares, accounting for 6.54%; Fidelity Investments holds 303 million shares, accounting for 3.93%. In addition, Gigafund, Founders Fund, Saudi Arabia's Public Investment Fund (PIF), Baillie Gifford, D1 Capital, and $NVIDIA (NVDA.US)$ are also among the top ten shareholders.
This...

On Friday, the three major US stock indices closed slightly lower. The S&P 500 fell 0.17% to 7,785.76, the Nasdaq Composite dropped 0.28% to 26,729.16, and the Dow Jones Industrial Average declined 0.20% to 53,732.41. Overall market sentiment remained cautious, with pressure on the technology and biotechnology sectors.
Against this backdrop, Cathie Wood concentrated her efforts on strengthening core positions in precision medicine and liquid biopsy, while leveraging crypto asset ETFs to gain exposure to the Solana ecosystem. She also rebalanced certain genomics holdings, demonstrating a typical strategy of "shedding weak performers, retaining strong ones, and focusing on high-conviction sectors."
Buy Direction: Focus on underlying technologies in precision medicine and the crypto asset ecosystem
$Cerus (CERS.US)$ Increased holdings by 86,875 shares. Cerus specializes in blood pathogen inactivation technology, and its INTERCEPT Blood System possesses a significant technological moat in the field of blood safety. ARK may continue to favor its market expansion potential amid tightening global blood safety regulations, which aligns with ARK's long-term allocation logic for precision medicine and biosafety infrastructure.
$Freenome (FRNM.US)$ Increased holdings by 45,010 shares. Freenome is a private biotechnology company focused on early cancer blood screening; its multi-omics liquid biopsy platform represents a highly disruptive technological approach in precision medicine...

The 13F filings for the second quarter of 2026 are being released sequentially. Based on the latest portfolio changes from Berkshire Hathaway, Baillie Gifford, Bridgewater, and ARK, although their investment styles differ significantly, one common trend is clearly evident—AI remains the core theme in institutional allocations, while the aerospace industry is emerging as the next major focus after AI.
Looking at specific portfolio adjustments, institutions are not simply chasing hot concepts; instead, they are reallocating capital across AI, computing infrastructure, aerospace technology, and economic cycle recovery.
Specifically:
1. Berkshire Hathaway: Embracing Tech Giants, Balancing Cyclical Allocations
Berkshire Hathaway's top five holdings still consist of $Apple (AAPL.US)$ 、 $American Express (AXP.US)$ 、 $Coca-Cola (KO.US)$ 、 $Alphabet-C (GOOG.US)$ and $Bank of America (BAC.US)$ , but the most significant change this quarter is undoubtedly the continued increase in its stake in Google, alongside a reduction in financial stocks such as Bank of America.
In the past, market discussions about $Alphabet-C (GOOG.US)$ , with a greater focus on its monopoly in the search business; however, in the AI era, Google possesses the Gemini large language model, Google Cloud, the YouTube ecosystem, and massive data resources, making it one of the few tech platforms globally with a complete closed-loop AI ecosystem. For those who have always valued...

In the second quarter since Buffett stepped down as CEO, Berkshire Hathaway has noticeably accelerated the pace of portfolio adjustments.
On August 14, Eastern Time, $Berkshire Hathaway-A (BRK.A.US)$ submitted its Q2 13F filing to the U.S. Securities and Exchange Commission. As of the end of June, the market value of its U.S. equity portfolio was approximately $299.3 billion, a significant increase from $263.1 billion at the end of the first quarter.
What truly deserves attention is not the change in portfolio market value, but the flow of capital.
Berkshire continued to significantly increase its holdings in $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ , with a combined increase of approximately 48.1 million shares for these two types of stocks; $Delta Air Lines (DAL.US)$ received additional buying for the second consecutive quarter, $Lennar Corp (LEN.US)$ its position continued to expand, and it symbolically repurchased $D.R. Horton (DHI.US)$ Meanwhile, $Bank of America (BAC.US)$ 、 $DaVita (DVA.US)$ 、 $The Kroger Co. (KR.US)$ and $Ally Financial (ALLY.US)$ Financial, consumer, and industrial stocks continued to see reduced holdings.
Viewing the first and second quarters together, a clearer allocation主线 is emerging for Berkshire under the Abel era: retaining traditional core assets such as Apple, American Express, and Coca-Cola, while directing new...

Two weeks ago, Leopold Aschenbrenner, who rose to fame with a single successful AI investment bet, suffered the most devastating blow of his career.
His hedge fund, Situational Awareness, faced a sharp decline due to high-leverage heavy positions in AI stocks, while short positions in software stocks were caught in a short squeeze. Ultimately, it was forced to sell most of its stock portfolio to Citadel to meet margin calls.
Now, the final snapshot of holdings before this 'liquidation-style deleveraging' event has finally come to light.
On August 14 (Eastern Time), Situational Awareness filed its Q2 13F document with the U.S. Securities and Exchange Commission. The filing shows that as of June 30, the fund's reported 13F holdings were valued at $20.242 billion, an increase of approximately 48% from $13.677 billion in the first quarter. However, it is crucial to emphasize:This does not represent Leopold's latest holdings after the liquidation, but rather the portfolio composition just before the blow-up.
In other words, this 13F filing truly reveals where Situational Awareness had concentrated its risk prior to suffering heavy losses in July.
Over half of the portfolio bet on SanDisk and Micron
In the second quarter,Situational Awareness heavily concentrated its portfolio in two memory chip stocks—SanDisk and Micron.
Breakdown: $SanDisk (SNDK.US)$ Position of approximately 2.495 million shares...

The relationship between NVIDIA and Elon Musk has evolved beyond just "selling chips" and "buying chips."
Today, $NVIDIA (NVDA.US)$Disclosing its second-quarter holdings report, revealing its SpaceX position for the first time:As of June 30, the company held approximately 123 million shares of SpaceX Class A stock, with a quarter-end market value of about $21 billion, accounting for 33.06% of its disclosed equity portfolio. This makes it NVIDIA's second-largest equity holding, trailing only Intel.
According to FactSet statistics,NVIDIA has thereby entered the ranks of SpaceX's top six shareholders.More notably, this is not a routine secondary market purchase, but rather a strategic move integrating xAI investment, SpaceX acquisitions, and chip procurement.
SpaceX instantly becomes NVIDIA's second-largest holding
Looking at the Q2 holdings structure, the total market value of NVIDIA's disclosed equity portfolio is approximately $63.4 billion, indicating a very high level of concentration.
Among them, $Intel (INTC.US)$ It remains the largest holding, with a market value of approximately $30 billion, accounting for 47.27%; $SpaceX (SPCX.US)$ It jumped directly to second place with a market value of approximately $21 billion, accounting for 33.06%.Together, these two companies account for more than 80% of the entire portfolio.
The remaining holdings are significantly smaller: $CoreWeave (CRWV.US)$ Approximately 4...

On Thursday, all three major US stock indices closed higher. The S&P 500 rose 0.65% to close at 7,798.99, the Nasdaq gained 0.81% to 26,803.03, and the Dow Jones Industrial Average edged up 0.13% to 53,839.99. Technology and growth stocks continued to lead the market.
Amid a general market recovery, ARK focused its buying power on core disruptive innovation sectors such as blockchain financial infrastructure, AI computing power, and precision medicine. Meanwhile, it rebalanced positions in certain biotech stocks and high-market-cap targets with significant gains to optimize the portfolio's overall risk-return ratio.
Buy Direction: Increase exposure to blockchain financial infrastructure, AI computing power, and precision medicine
$Securitize (SECZ.US)$ Securitize saw a substantial increase of 192,702 shares, making it the largest purchase of the day. As a core infrastructure provider for digital asset securitization and private market tokenization, Securitize directly benefits from the accelerating influx of institutional capital into blockchain finance. This may well be a key strategic move within ARK's "Fintech Disruption" theme.
$Freenome (FRNM.US)$ Increased holding by 123,842 shares. Freenome focuses on early cancer screening technology based on liquid biopsy, aligning with ARK's long-term bullish view on the precision medicine and early diagnosis sectors. This increase in position may reflect ARK's...

On Wednesday, August 12, 2026, the US stock market showed divergent trends. Tech stocks led the gains, with the Nasdaq rising 0.54% to close at 26,588.49; the S&P 500 edged up 0.26% to 7,748.50; while the Dow Jones Industrial Average slipped slightly by 0.04% to 53,770.27. The overall market maintained a volatile pattern at high levels.
Against this backdrop, ARK Invest concentrated its buying power on disruptive innovation sectors such as early-stage precision medicine, gene editing, and cloud security on the day. Meanwhile, it rebalanced positions in certain synthetic biology stocks and tech stocks that had seen significant gains, demonstrating a strategic layout that balances offense and defense.
Buy Direction: Deepen the moat in precision medicine, while also covering cloud security and gene editing
$Freenome (FRNM.US)$ Purchased 190,403 shares, marking the largest buy on the list. Freenome focuses on liquid biopsy-based early cancer screening technology. If its multi-cancer early detection platform achieves regulatory breakthroughs, it could redefine the underlying logic of oncology diagnostics. This move may reflect ARK's long-term bet on the rapid increase in early penetration rates for precision medicine.
$Cerus (CERS.US)$ Purchased 93,956 shares. Cerus's pathogen inactivation technology has established certain competitive barriers in the blood safety sector, with its INTERCEPT Blood System globally...

On Tuesday (August 11), all three major U.S. indices closed lower. The S&P 500 fell 0.32% to 7,728.20 points, the Nasdaq led the decline with a 0.60% drop to 26,445.45 points, and the Dow Jones Industrial Average declined 0.34% to 53,791.85 points. Overall market sentiment remained cautious, with notable pressure on technology growth stocks.
Against this backdrop, ARK took advantage of the weakness to increase exposure to core disruptive innovation sectors such as the space economy, precision medicine, and cybersecurity, while making multi-directional adjustments to positions in e-commerce platforms and traditional data infrastructure—sectors with relatively higher cyclicality—reallocating capital toward areas with greater high-growth potential.
Buying activity: Countercyclical positioning in space, gene editing, and cloud security
$Rocket Lab (RKLB.US)$ Added 292,873 shares on the day—the largest purchase on the buying list. As a key player in small launch vehicles and space systems, Rocket Lab offers vertically integrated capabilities spanning rocket manufacturing to satellite components, aligning with ARK’s long-term view on the commercialization of space infrastructure. ARK likely sees the current share price as an ideal opportunity to add to its position.
$Cerus (CERS.US)$ Added 255,751 shares, making it the second-largest buy of the day. Cerus specializes in pathogen reduction technology for blood products (the INTERCEPT system), operating in a niche segment within precision medicine and biosecurity. Its technology...