Cathie Wood Cuts Exposure to Tesla and SOFI Stocks, Doubles Down on Robinhood and Block (XYZ)

Cathie Wood made several trades across her ARK ETFs on Friday, December 12, according to daily trade filings. The activity showed fresh selling in Tesla (TSLA) and SoFi Technologies (SOFI), while ARK added to positions in Robinhood Markets (HOOD) and Block (XYZ), pointing to continued confidence in fintech and digital platforms.Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential Wood Continues to Cut Exposure to Tesla and SoFi The most notable move was ARK's sale of 87,993 shares of Tesla, spread across the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW), with a total value of about $39.3 million. The sale adds to recent trimming in the stock, suggesting ARK is gradually reducing its exposure to the EV maker. The move comes as Tesla's U.S. sales dropped nearly 23% in November to 39,800 vehicles, down from 51,513 a year earlier and marking the weakest monthly level in almost four years. This decline came even as Tesla rolled out lower-priced versions of its top models to support demand. ARK also reduced its position in SoFi, selling 21,094 shares worth roughly $0.6 million. In addition, the fund continued to scale back its holding in Teradyne (TER), unloading 55,461 shares for about $11.3 million. Robinhood Remains a Top Conviction Buy On the buying side, ARK added 108,557 shares of Robinhood Markets, worth about $13.4 million, through its ARKK and ARKW funds. The buy follows another large purchase just a day earlier, when ARK picked up 124,427 shares valued at roughly $16.9 million. The repeated purchases reflect ARK's confidence in Robinhood's platform as it grows beyond trading into retirement, crypto, and other financial services. Wood Loads Up on Block and Other Names ARK also increased its stake in Block, buying 97,406 shares valued at about $6.2 million. The move strengthens ARK's exposure to digital payments and financial services. Other purchases included: Deere & Co. (DE): Bought 11,489 shares worth about $5.5 million L3Harris Technologies (LHX): Added 16,547 shares valued at roughly $4.8 million Rubrik (RBRK): Picked UP 54,262 shares worth about $4.7 million Schrodinger (SDGR): Purchased 54,917 shares valued near $1 million The additional buys show continued interest in technology, defense, and innovation-focused exposure. Let's see how these stocks perform using the TipRanks Stock Comparison Tool: