Cathie Wood's ARK Invest exchange-traded funds (ETFs) made several notable portfolio changes on Monday, July 20, according to the firm's daily fund disclosures. The ace hedge fund manager continued pouring millions into Space Exploration Technologies (SPCX) and Meta Platforms (META), while trimming her position in Canadian e-commerce portal Shopify (SHOP).

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The trades were spread across several ARK ETFs and reflect Wood's ongoing portfolio rebalancing amid a volatile market. She continues to focus on high-growth themes such as AI, autonomous driving, robotics, and cryptocurrencies, even when other investors are cautious.

What Did Wood Trade on July 20?

SPCX – Wood has been aggressively accumulating shares of SpaceX during recent weakness. ARK Invest acquired 170,634 shares totaling $21.16 million. SPCX stock fell another 3.3% yesterday, marking a fresh 52-week low of $119.68, and falling below its IPO price of $135. The company is set to launch its 13th Starship test flight on Thursday, July 23, after the previous attempt was called off just before liftoff last week. Meanwhile, the company is making big bets on the AI space, with reports stating that SpaceX ordered $52 billion worth of AI server racks from Taiwan's Hon Hai Precision Industry (HNHPF), better known as Foxconn.

META – The ARK funds acquired a total of 28,106 META shares, amounting to $18.16 million. Meta is reportedly in early talks to provide AI computing power to Anthropic in a deal worth up to $10 billion over two years, according to The New York Times (NYT). Anthropic proposed the agreement in June and would make monthly payments, while both companies would have the option to end the deal early if needed. Wood appears to be betting on Meta's AI potential as Meta has announced plans to begin production of its "Iris" AI chips in September, in partnership with Broadcom (AVGO).

SHOP – The largest transaction of the day was the sale of 203,352 Shopify shares valued at $25.13 million. Wood has steadily reduced her Shopify position in recent weeks as part of ARK's ongoing portfolio rebalancing. Year-to-date, SHOP shares have dropped 22.7%. Wood's sales come even as Wall Street grows increasingly bullish on Shopify ahead of its fiscal second-quarter results. Yesterday, RBC Capital analyst Paul Treiber kept his Buy rating and $170 price target on the stock, citing recent third-party data that suggests "Shopify's robust momentum continues." RBC believes both the company's second-quarter results and third-quarter guidance could come in above Wall Street's current estimates.

ACHR – Wood also acquired 121,300 shares of Archer Aviation (ACHR) yesterday. Anduril and Archer Aviation unveiled their jointly-developed autonomous VTOL aircraft platform, built to serve both defense and commercial applications. The news pushed ACHR stock up 19.6% on July 20.

Wood's Strategic Portfolio Shuffle

Let's see how these stocks perform using the TipRanks Stock Comparison Tool.

Currently, analysts have a "Strong Buy" consensus rating on all four companies, with ACHR stock offering the highest upside potential among them.