Cathie Wood’s ARK Invest is heading into mid-December with a familiar playbook: rotate aggressively, publish the receipts, and keep investors guessing about what “disruptive innovation” looks like in a market that’s re-pricing risk.
On Monday, December 15, 2025, the broader backdrop is a market trying to steady itself after a bruising tech-led pullback and renewed debate over whether parts of the AI trade have become overcrowded. Reuters reported that investors have been unwinding segments of the “AI-capex trade,” with global risk appetite still sensitive to rates and upcoming central-bank decisions and economic data. [1]
Against that backdrop, ARK’s latest disclosed portfolio changes have drawn fresh attention: a sizeable Tesla trim worth roughly $40 million, continued selling in Iridium Communications, and a targeted biotech add in Nurix Therapeutics, while doubling down on fintech names like Robinhood and Block.
Below is what happened, what it may mean, and what investors are watching next.
ARK’s “disruptive innovation” strategy meets a choppier December
ARK’s flagship funds are built around a high-conviction, actively managed approach to companies it believes are driving major technology shifts. ARK defines disruptive innovation as the introduction of a technologically enabled new product or service that can change how the world works—across themes like autonomous mobility, next-gen cloud, digital wallets and assets, and precision therapies. [2]
That thematic posture can amplify upside in risk-on periods—and magnify volatility when investors rotate out of growth. And this December, rotation has been the word.
ARK sold 87,993 Tesla shares—about $39.3 million across ARKK and ARKW
The headline trade: ARK sold 87,993 shares of Tesla (TSLA) across the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW) for a combined value of $39,323,191 (roughly “about $40 million”). The sales were disclosed in ARK’s daily trade activity tied to Friday, December 12. [3]
The same disclosure set also showed ARK trimming additional tech exposure:
- Teradyne (TER): sold 55,461 shares for $11,312,380
- SoFi Technologies (SOFI): sold 21,094 shares for $571,014
- Iridium Communications (IRDM): sold 28,777 shares for $541,295
- Ibotta (IBTA): sold 10,155 shares for $224,425 [4]
Why the Tesla trim matters
Tesla is widely seen as one of ARK’s most important “autonomous + AI + energy” expressions. So a sale of this size tends to read as portfolio rebalancing rather than a full-throated change of heart. Still, the timing is notable: it comes as markets are becoming more selective about mega-growth winners, with tech sentiment tied tightly to rates, liquidity, and questions about AI monetization.
Reuters’ December 15 market wrap described investors as cautious heading into a dense week of central bank decisions and key data, while also pointing to the spillover effects of last week’s U.S. momentum/tech sell-off. [5]
In that environment, reducing exposure to a megacap leader—even slightly—can be interpreted as a way to manage concentration risk and fund purchases elsewhere.
ARK doubled down on fintech: Robinhood and Block were key adds
While Tesla was the standout sale, ARK’s shopping list was equally eye-catching—especially for investors tracking the intersection of retail investing, payments, and crypto infrastructure.
In the same December 12 disclosure:
- Robinhood (HOOD): ARK bought 108,557 shares worth $13,393,762 via ARKK and ARKW.
- Block (XYZ): ARK bought 97,406 shares worth $6,195,995. [6]
ARK also added:
- Deere (DE): bought 11,489 shares worth $5,468,074
- L3Harris (LHX): bought 16,547 shares worth $4,796,313
- Rubrik (RBRK): bought 54,262 shares worth $4,725,134
- Schrödinger (SDGR): bought 54,917 shares worth $995,645 [7]
The takeaway: ARK is funding “platform” bets, not going defensive
These buys don’t look like a retreat to utilities or cash-like assets. They read more like a re-allocation within innovation—reducing exposure to certain high-profile names (Tesla, plus smaller trims) while leaning harder into platforms ARK sees as long-run winners in digital finance and data-driven business models.
ARK continues trimming Iridium—building on a bigger cut that started earlier
Iridium Communications (IRDM), the satellite connectivity company, has been on the other side of ARK’s recent positioning.
The most recent disclosed Iridium sale: 176,093 shares on Dec. 10
ARK’s daily trades for Wednesday, December 10, 2025 showed it sold 176,093 shares of Iridium across ARKK, ARKQ, and ARKX, with a combined value of $3,125,650. [8]
That sale wasn’t isolated—it was framed as part of a pattern of consistent reductions over the prior week. [9]
The larger context: a major reduction dated Nov. 30
Zooming out, GuruFocus reported that on November 30, 2025, Catherine Wood executed a much larger Iridium reduction, cutting 2,373,259 shares—a 36.57% decrease in ARK’s holding—at a reported trade price of $16.40. After that transaction, GuruFocus reported ARK held 4,116,849 shares, with Iridium representing 0.4% of the portfolio in its snapshot. [10]
What the Iridium selling may signal
Iridium sits at a crossroads of “space economy” narratives and steady connectivity demand, but ARK’s recent activity suggests the firm is tactically reducing exposure—either to lock in gains, manage risk, or make room for higher-conviction names elsewhere.
Given the wider market narrative on December 15—rotation, rate sensitivity, and a reassessment of crowded trades—incremental selling in a smaller communications name also fits a broader “tighten the lineup” approach. [11]
ARK added Nurix Therapeutics—an ARKG move tied to fresh ASH clinical data
ARK’s biotech add was smaller in dollar terms than Tesla or Robinhood, but it’s arguably more “on brand” for ARK’s genomics theme.
In the December 10 daily trades, ARK bought 11,342 shares of Nurix Therapeutics (NRIX) through ARK Genomic Revolution ETF (ARKG), valued at $221,736. [12]
Why Nurix drew attention: BTK degrader results at ASH
Nurix has been highlighting data on bexobrutideg (NX-5948), its Bruton’s tyrosine kinase (BTK) degrader, presented at the American Society of Hematology (ASH) Annual Meeting.
A release republished by StockTitan (originally distributed via Globe Newswire) reported that in a Phase 1 cohort of Waldenström macroglobulinemia patients:
- Objective response rate (ORR): 75.0% in 28 evaluable patients
- With median follow-up of 8.1 months, median duration of response and median progression-free survival were not reached
- Safety/tolerability was described as favorable, with no dose-limiting toxicities and no grade 5 adverse events in the described dataset [13]
Whether or not ARK’s buy was a direct response to the ASH headlines, the trade fits ARKG’s stated focus: precision therapies and innovation driven by advances in life sciences.
ARK’s broader pattern: trim communications and selected tech, add fintech and targeted biotech
If you line up the last several reported trade days, a consistent narrative emerges:
- Tesla: meaningful trimming on Dec. 12, continuing a pattern of sales in the week.
- Iridium: repeated sales across multiple funds, plus a larger earlier reduction.
- Fintech platforms: repeated, sizeable adds to Robinhood; meaningful adds to Block.
- Biotech rotation: Nurix added, while other biotech-related names saw selling.
For example, ARK’s Dec. 10 file also included sales of:
- Adaptive Biotechnologies (ADPT):35,379 shares sold for $525,731
- Ibotta (IBTA):11,700 shares sold for $266,292
- Teradyne (TER):4,166 shares sold for $833,075 [14]
Taken together, it looks less like a wholesale move out of innovation—and more like ARK re-weighting its “innovation stack” toward areas it believes are entering a new adoption curve (fintech/crypto rails, and specific biotech mechanisms like targeted protein degradation).
Why Dec. 15’s market mood matters for how investors read ARK’s moves
ARK trades rarely happen in a vacuum, and December 15’s macro setup helps explain why these reallocations are resonating.
Reuters described a market environment where investors are attempting to stabilize after a tech-driven pullback, with attention turning to:
- Central bank decisions (including the Bank of Japan and Bank of England)
- Fresh economic data (some delayed)
- The push-pull between easing yields and lingering inflation concerns [15]
That’s important because ARK’s underlying holdings are typically long-duration equities—their valuations can be more sensitive to discount rates, liquidity, and risk appetite than the broader market.
So even if ARK’s trades are fundamentally driven, the timing and magnitude of rebalancing tend to be interpreted through the lens of macro: risk management now, optionality for 2026 later.
What investors should watch next
For investors tracking Cathie Wood and ARK Invest—whether as supporters or skeptics—these are the near-term signposts that could shape the next set of trades:
- Macro catalysts (this week): central bank decisions and key U.S. data that can change the rate outlook and risk appetite. [16]
- Tesla: demand and pricing dynamics, plus how the market is valuing “AI + autonomy” narratives versus near-term fundamentals.
- Iridium: any shift in ARK’s cadence (continued drip selling vs. stabilization), and company-specific developments that could change the thesis.
- Nurix: additional updates on bexobrutideg and the broader targeted protein degradation space, especially follow-on data that validates durability and safety. [17]
- Robinhood and Block: whether ARK continues treating fintech as a core “digital wallet rails” bet going into 2026, or trims if volatility returns.
Cathie Wood’s December trade tape is a reminder of what ARK is—and isn’t. It isn’t a slow-moving, benchmark-hugging shop. It’s an active strategy that will cut even iconic positions, keep selling a name across multiple funds for weeks, and still deploy capital into higher-risk corners of biotech when the data looks compelling.
References
1. www.reuters.com, 2. www.ark-funds.com, 3. www.investing.com, 4. www.investing.com, 5. www.reuters.com, 6. www.investing.com, 7. www.investing.com, 8. www.investing.com, 9. www.investing.com, 10. www.gurufocus.com, 11. www.reuters.com, 12. www.investing.com, 13. www.stocktitan.net, 14. www.investing.com, 15. www.reuters.com, 16. www.reuters.com, 17. www.stocktitan.net
