This article first appeared on GuruFocus.
Cathie Wood’s ARK Investment Management trimmed its stake in Tesla (NASDAQ:TSLA) and added to positions in Broadcom (NASDAQ:AVGO) and Klarna Group (NYSE:KLAR), according to the firm’s daily trade disclosures released late Wednesday.
ARK sold about 86,000 Tesla shares through its ARK Innovation ETF, reducing exposure to the electric-vehicle maker after recent share-price weakness, according to the trade report.
On the buying side, ARK purchased more than 143,000 Broadcom shares, worth over $50 million across its ARKK and ARKW ETFs. The move came as Broadcom shares slid more than 4% in the session, making it one of the most actively traded stocks of the day.
The firm also added nearly 57,000 Klarna shares via its ARK Fintech Innovation ETF, increasing exposure to the buy-now-pay-later sector, which has remained volatile amid changing consumer spending trends.
Elsewhere, ARK pared holdings in Taiwan Semiconductor Manufacturing (NYSE:TSM), selling more than 19,000 shares through ARKW. The firm also reduced positions in Unity Software (NYSE:U) and several other technology names.
The trades point to a tactical portfolio rebalance, with ARK rotating away from some large-cap technology holdings while selectively adding exposure to semiconductors and fintech