Cathie Wood's ARK Invest reshuffled its portfolio on Tuesday, October 13, adding to positions in Meta Platforms and Cerebras Systems while continuing to reduce several other holdings. The firm's headline moves included a roughly $17.33 million Meta purchase and a nearly $10 million Cerebras buy, offset by more than $36 million in combined sales of Personalize, Toast, and Everpure shares.

ARK discloses its ETF trades at the end of each trading session, and the firm's daily moves are closely watched by investors tracking how Cathie Wood's thematic funds are positioned across artificial intelligence, genomics, and other innovation sectors.

The Meta purchase totaled 22,734 shares across ARK's ARKW and ARKF ETFs (the ARK Next Generation Internet and ARK Fintech Innovation funds), executed at Meta's closing price of $762.50. Meta shares gained 2.6% during the session, and the buy followed a smaller purchase earlier in the week. Meta Platforms, Inc. (META) is the parent company of Facebook, Instagram, and WhatsApp.

ARK also bought 67,362 Cerebras Systems shares worth nearly $10 million through its ARKW ETF, priced at the stock's closing price of $149.08. Cerebras shares rose 1.7% that day, and the firm has shown steady interest in the company over the past few days. Cerebras Systems is an artificial intelligence chip company.

Why ARK May Be Buying

Meta launched two new AI models, Muse Wonder and Muse Wonder Full, on Monday. The company says they are built to handle personal and professional tasks using AI agents.

Chief Executive Mark Zuckerberg said on a recent podcast that he was ready to invest between $100 billion and $200 billion in AI. He made the statement before knowing whether the models would succeed.

Meta is building AI computing sites, including its Prometheus cluster in Ohio and a planned Hyperion facility in Louisiana. The company plans to pay for them through its existing business and borrowing. The projects within a broader expansion of AI computing capacity under way across the technology industry.

ARK's Cerebras purchase came ahead of the October 14 release of up to 19.4 million shares from IPO lock-up limits. Lock-up expiries typically allow early investors and insiders to sell shares for the first time after an offering, meaning more shares could come to market once eligible holders are free to trade.

Cerebras also has a supply deal with OpenAI to provide 750 megawatts of computing capacity, a contract valued at more than $20 billion. OpenAI reportedly reached an annualized revenue run rate of $50 billion in September.

ARK's Sales and Smaller Trades

ARK's largest sale was 901,647 shares of Personalize through its ARKG ETF (the ARK Genomic Revolution ETF), totaling $14,291,104. The firm has been selling the stock for the past week.

It also sold 406,020 Toast shares for $12,541,957 through ARKW and ARKF, along with 64,530 Everpure shares for $10,129,274.

ARK sold 43,521 CareDx shares for $2,847,579. It bought 84,652 Freenome shares for $1,070,001 and 49,090 Beam Therapeutics shares for $1,199,268. Smaller buys included Kymera Therapeutics at $391,408 and Kodiak AI at $16,705.

ARK also sold 4,520 Meta shares on October 12 and trimmed its Meta position by $14.3 million on October 8. Tuesday's purchase therefore extended a week of two-way trading in the stock.

Analysts rate both Meta and Cerebras a Strong Buy, according to the report. The implied upside is 93.6% for Cerebras and 7.1% for Meta. Those ratings reflect the Wall Street analysts cited in the report, not ARK's own stance on either stock.

Source: CoinCentral