Cathie Wood Dumps Shopify and Palantir While Going Big on Block

TLDR

• ARK sold 117,172 shares of Shopify worth nearly $17 million across three ETFs
• ARK bought 267,676 shares of Block for over $22 million, its largest purchase of the day
• MercadoLibre saw a $4.6 million buy through the ARKW ETF
• Intellia Therapeutics received a $4.6 million investment across ARKK and ARKG
• Palantir was trimmed by over $15 million combined across recent sales, with ARK still holding around $493 million in the stock

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Cathie Wood’s ARK Invest made a series of portfolio moves on August 6, 2026, buying into fintech and biotech while pulling back from Shopify and Palantir.

The firm’s biggest purchase was 267,676 shares of Block for over $22.5 million. The buy was spread across ARK’s ARKK, ARKW, and ARKF funds. Block is a financial technology company that has been expanding its services beyond payment processing.

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ARK also picked up 239,907 shares of MercadoLibre through its ARKW ETF, worth about $4.6 million. MercadoLibre is a major e-commerce and payments platform focused on Latin America.

On the sell side, ARK offloaded 117,172 shares of Shopify across three of its ETFs, totaling nearly $17 million. This follows earlier Shopify sales during the same week, pointing to a continued reduction in that position.

Palantir Trimmed After Strong Rally

ARK sold 23,907 Palantir shares worth roughly $3.8 million on August 6, adding to a separate sale of 70,259 shares worth about $11.4 million disclosed around the same time. The combined Palantir sales total over $15 million in recent days.

The Palantir sales appear tied to profit-taking after the stock surged to record highs following strong earnings. ARK has a history of trimming positions after sharp price gains to keep single holdings from growing too large within its funds.

Despite the recent selling, Palantir remains one of ARK’s top 10 holdings. The firm still holds around 3.11 million shares valued at approximately $493 million.

Biotech and Cybersecurity Also in Focus

ARK added 422,198 shares of Intellia Therapeutics across its ARKK and ARKG funds, investing around $4.6 million in the gene-editing company.

In cybersecurity, ARK trimmed both Cloudflare and CrowdStrike. It sold 9,539 Cloudflare shares for about $2.8 million and 13,165 CrowdStrike shares for around $2.8 million. Roblox also saw a reduction, with 65,036 shares sold through ARKK for approximately $2.4 million.

The day’s trades show ARK shifting weight toward fintech and biotech while locking in gains from tech and cybersecurity names.

ARK has held Palantir since 2020, repeatedly buying and trimming the stock while keeping a large long-term position. The latest sales come after the stock’s rapid rise following its most recent earnings report.