Here are Cathie Wood’s latest moves.

Cathie Wood, head of Ark Investment Management, does not hesitate to sell and pocket profits when her high-conviction names rally, even the ones she repeatedly calls her favorites. 

That’s what she did over the past week, trimming two of her biggest positions.

Wood’s investment strategy has worked well this year, with her funds outpacing the major market indexes. As of Oct. 31, the flagship Ark Innovation ETF (ARKK) is up 54.5% year to date, far outpacing the S&P 500’s gain of 16.3%.

Wood's remarkable 153% return in 2020 helped build her reputation and attract loyal followers. Her strategy can lead to sharp gains during bull markets but also painful losses, as seen in 2022, when ARKK dropped by more than 60%.

Those swings have weighed on her long-term results. As of Oct. 31, the Ark Innovation ETF has delivered a five-year annualized return of 0.09%, while the S&P 500 has an annualized return of 17.64% over the same period, according to data from Morningstar.

Cathie Wood’s investment strategy explained

Wood’s investment strategy is straightforward: Her Ark ETFs typically target emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics.

She believes these companies have the potential to reshape industries and bring outsized long-term returns, but their volatility leads to big fluctuations in Ark funds' values.

Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income

Over the 10 years ending in 2024, the Ark Innovation ETF wiped out $7 billion in investor wealth, according to an analysis by Morningstar’s analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott’s ranking.

Still, Wood has been bullish on the market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks.

"We think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms, including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said.

Not all investors share this optimism. In the five days through Oct. 30, the Ark Innovation ETF drew about $1.5 billion in net outflows, according to ETF research firm VettaFi. 

Cathie Wood sells $21.4 million of AMD and Palantir stock before earnings

On Oct. 30, the Ark funds sold 13,651 shares of Advanced Micro Devices (AMD), valued at about $3.5 million. 

That move followed her sale of 78,536 AMD shares between Oct. 22 and 24.

AMD stock has soared 58.3% in October, largely boosted by a multibillion-dollar partnership with OpenAI. 

Related: Veteran analyst turns heads with new AMD stock target

On Oct. 6, The Wall Street Journal reported that AMD and OpenAI had entered into a partnership under which AMD’s chips will power OpenAI’s AI infrastructure and data centers. AMD has issued warrants for up to 160 million shares as part of the agreement, with vesting milestones tied to deployment volume and AMD’s share price.

The deal could bring “tens of billions of dollars” of incremental annual revenue for AMD, according to Reuters.

Wedbush analyst Matt Bryson raised the firm's stock price target for AMD to $270 from $190, reiterating a buy rating. 

"We arrive at our target by applying a PE multiple of ~30X to our FY2027 EPS estimate...This multiple is close to the peak we have used for valuing AMD, a choice we view as appropriate in light of AMD's likely revenue path over the next few years," the analyst said in a research note published Oct. 15.

Besides AMD, Wood also sold 89,395 shares of Palantir (PLTR), valued at approximately $17.9 million.

Top 10 holdings of the Ark Innovation ETF as of Oct. 31, 2025:

• Tesla Inc.:12.30%
• Coinbase Global Inc Class A: 5.80%
• Roku Inc.:5.59%
• Crispr Therapeutics AG: 5.01%
• Tempus AI Inc.: 5.01%
• Shopify Inc. Class A: 4.91%
• Robinhood Markets Inc Class A: 4.69%
• Palantir Technologies Inc Class A: 4.48%
• Advanced Micro Devices: 4.40%
• Roblox Corp Class A: 4.15%

Palantir has also been riding high this year, with the stock up 165% year to date.

The Colorado-based company provides AI-driven data analytics software to the U.S. government, military, and commercial clients. Last year, the stock soared 340% as demand for AI infrastructure surged across sectors.

Wood said in February that she’s doubling down on software, with Palantir being one of her top picks. Her recent selling might just be a move to take profits after the stock’s strong run rather than a shift in conviction. 

“Palantir is a very expensive stock, but there’s nothing like it in the software space,” Wood said in a February CNBC interview. “It is, we believe, going to dominate the biggest part of the tech stack when it comes to AI. And that’s the platform as a service part of the stack.”

Palantir and AMD remain key positions for Wood after recent sales, ranking 8th and 9th, respectively, in the ARK Innovation ETF. The two tech giants will release their quarterly reports next week, on Nov. 3 and 4, respectively.