ARK Invest, the asset manager led by Cathie Wood, purchased $25.13 million worth of Rocket Lab USA (RKLB) shares on September 22, deepening its position in the aerospace company even as the stock trades far below its recent peak. The firm has simultaneously continued building its stake in gene-editing company Scribe Therapeutics while trimming holdings in several large-cap technology names.

Because ARK publishes its fund transactions each trading day, its buys and sells are among the most closely watched moves in retail investing, and the latest round of filings shows the firm rotating out of some mega-cap technology names and into aerospace and genomics positions.

The September 22 purchase totaled 359,612 Rocket Lab shares, distributed across three ARK exchange-traded funds. The ARK Innovation fund acquired 277,573 shares, ARK Autonomous Technology & Robotics picked up 59,746 shares, and ARK Space Exploration bought 22,293 shares.

Rocket Lab Shares Well Off Their High

Rocket Lab stock settled at $70.31 on September 23, down approximately 53% from its 52-week peak of $151. Multiple headwinds have weighed on the shares. The company delayed the inaugural launch of its Neutron rocket program — the larger launch vehicle it is developing to complement its operational Electron rocket — and management issued gross margin projections that fell short of market expectations.

The company is also pursuing an $8 billion acquisition of Iridium, a satellite communications provider. The transaction introduces additional financing considerations and potential shareholder dilution concerns. To fund the deal, Rocket Lab arranged a $3.6 billion bridge financing facility and executed an equity offering that generated approximately $2 billion in proceeds. How the company carries that financing while the acquisition remains pending is likely to stay a focal point for anyone tracking the stock.

ARK's interest in Rocket Lab extends beyond the September 22 transaction. Earlier in September, the firm accumulated 705,102 shares worth $44.4 million across two separate trading sessions. In July, it added another 62,497 shares to its portfolio. During that same month, the fund divested 184,670 shares of Iridium — the very company Rocket Lab is seeking to acquire.

Despite the stock's pullback, Rocket Lab's recent operating results have been strong. Second-quarter revenue climbed 62% to a record $234 million, and the order backlog expanded to $2.36 billion. The's Electron rocket completed its 96th mission this month. Those operating figures are the backdrop against which ARK has kept adding on weakness.

ARK Scales Back Major Technology Holdings

To finance its recent purchases, ARK has been liquidating positions in several established technology companies. On September 22, the firm sold $5.83 million in Alphabet shares. In recent weeks, it has also scaled back its holdings of AMD and Palantir. The firm appears to be reallocating capital toward companies it views as more significantly undervalued.

Steady Accumulation in Gene Editing

Concurrently, ARK has maintained steady accumulation of Scribe Therapeutics, a gene-editing biotechnology company. On Thursday, September 24, the firm purchased 39,149 shares valued at $1,038,622 through its ARKG genomics fund.

That purchase followed even larger acquisitions earlier in the same week. On Wednesday, ARK bought 143,257 Scribe Therapeutics shares worth over $4 million, after adding 88,323 shares valued at nearly $2.5 million the previous Tuesday.

ARK also increased its Beam Therapeutics position on Wednesday, acquiring 65,553 shares for roughly $1.7 million. At the same time, the firm sold approximately $7 million of Tempus AI shares, marking a retreat from the artificial intelligence healthcare company. The week's rotation keeps ARKG concentrated in gene-editing developers while trimming an AI-driven healthcare name.

In her most recent communication to investors, Wood expressed conviction that the current technology era is "likely to dwarf the Industrial Revolution," outlining ARK's outlook on artificial intelligence, robotics, energy storage, and genomics.

The latest portfolio adjustments underscore the firm's persistent conviction in gene-editing and aerospace companies, alongside reduced concentration in certain large-cap technology holdings. Taken together, the recent trades reflect a strategy of accumulating shares in underperforming stocks while scaling back exposure to major technology companies. With Rocket Lab's rescheduled Neutron debut and the financing behind the Iridium acquisition still unfolding, ARK's daily trade disclosures will offer a running record of whether that conviction continues to build.

Source: Blockonomi