This article first appeared on GuruFocus.
Sep 1 – Cathie Wood’s ARK Invest ETFs carried out notable portfolio changes on Thursday, August 28, 2025, according to the firm’s daily trade disclosures. The adjustments show Wood’s growing conviction in biotech while dialing back exposure to streaming and digital gaming.
ARK’s biggest buy came from Intellia Therapeutics (NASDAQ:NTLA), a gene-editing company. The ARK Innovation ETF (ARKK) purchased nearly 350,000 shares, worth about $4 million. Intellia has been a steady addition in recent weeks, and its stock has climbed more than 56% over the past three months.
At the same time, ARK reduced its positions in Roku (NASDAQ:ROKU) and DraftKings (NASDAQ:DKNG). The flagship ARKK fund sold over 55,000 Roku shares valued around $5.35 million, continuing a week-long trimming streak. Roku stock has gained about 31% year-to-date, but the repeated selling suggests ARK may be rebalancing after years of heavy exposure.
DraftKings also saw selling across ARKK, ARKW, and ARKF, with about 54,700 shares cut for $2.61 million. Despite the reduction, the stock is still up nearly 30% this year.