Ark Invest executed significant portfolio adjustments Monday, accumulating positions in Block and Circle Internet Group while reducing exposure to Palantir Technologies and Advanced Micro Devices.
Block and Circle Acquisitions
Ark purchased 456,059 Block shares valued at approximately $37.4 million, distributed across its ARKF, ARKK, and ARKW exchange-traded funds. The purchase came at Block's $82.02 closing price, with shares declining 1.85% during Monday's session.
The acquisition follows Block's second-quarter results, which showed earnings of $1.02 per share and revenue of $6.62 billion, both exceeding analyst expectations. The company upgraded its annual profit guidance to $12.5 billion, representing 21% year-over-year expansion.
Block operates a substantial cryptocurrency treasury, holding 9,177 Bitcoin tokens valued near $714 million. The company is led by Jack Dorsey.
Ark simultaneously acquired 35,192 shares of Circle Internet Group for approximately $3.36 million. Circle stock rose 9.65% Monday to $95.55. Bernstein research analysts assigned Circle an Outperform rating with a $140 price target, citing expanding stablecoin adoption and emerging blockchain-based capital markets infrastructure. Circle has appreciated 52.6% over the preceding 30 days.
Palantir and AMD Reductions
Ark divested approximately $26 million in Palantir stock, selling 139,456 shares across its three primary ETFs at $186.38 per share. The divestment occurred following Palantir's strong second-quarter performance, which delivered $1.94 billion in revenue against analyst expectations of $1.80 billion.
The firm also reduced AMD exposure by selling 8,623 shares for approximately $4.1 million based on AMD's $470.72 closing price. Ark has systematically reduced its AMD position in recent trading weeks.
Ark's investment guidelines prohibit individual holdings from representing more than 10% of any fund's total portfolio value.
