Cathie Wood’s ARK Invest has reshuffled its flagship ETF portfolio, exiting its position in chipmaker Advanced Micro Devices (AMD) and piling into Circle Internet Group and Ionis Pharmaceuticals, according to the firm’s daily trade disclosures.
The sale of AMD marks a notable retreat from the semiconductor sector, which has faced headwinds from softening demand in certain end markets and geopolitical tensions around chip exports. ARK had held AMD for several years, but the fund’s latest move suggests a reassessment of near-term growth prospects amid rising competition.
In contrast, the purchase of Circle Internet Group — the company behind the USDC stablecoin — highlights ARK’s continued bet on blockchain infrastructure and digital payments. Circle has been expanding its regulatory footprint in Europe under the MiCA framework, which could offer clearer operating conditions for stablecoin issuers.
Meanwhile, the addition of Ionis Pharmaceuticals points to ARK’s interest in innovative biotech. Ionis specialises in RNA-targeted therapies and has several drugs in late-stage trials for neurological and cardiovascular conditions. The biotech sector has been volatile, but ARK appears to be positioning for long-term breakthroughs.
For UK investors and pension holders, ARK’s trades offer a window into how high-conviction fund managers are rotating capital. While direct exposure to these US stocks is limited for most British retail investors, the broader themes — digital assets and biotech innovation — could influence sentiment in London-listed peers and thematic ETFs available on UK exchanges.