Cathie Wood's ARK Invest Trims SpaceX Holdings in Portfolio Rebalancing Shift

Cathie Wood's ARK Invest has reduced its SpaceX holdings as part of an ongoing portfolio rebalancing. Ark Invest sold 54,873 shares of SpaceX on October 6 from the Ark Next Generation Technology ETF, marking a 0.4% reduction in the fund's position and the first sale since SpaceX went public. Additional portfolio moves included offloading 29,048 SpaceX shares valued at roughly $4.7 million alongside $14 million in AMD stock to fund purchases of Kratos Defense & Security Solutions. Despite the sales, Ark maintains high conviction in SpaceX, projecting a $160 billion addressable market for reusable rockets.