Cathie Wood’s Ark Buys 116,971 More SpaceX Shares

Cathie Wood’s Ark Buys 116,971 More SpaceX Shares

Quick Reads

• Ark Invest bought 116,971 more shares of SpaceX on July 10, worth about $17.8 million, making it the biggest trade in the firm’s daily disclosures that day.

• Ark also bought SpaceX shares just two days earlier across four different funds, and has now spent over $475 million building the position since the IPO, partly by selling stakes in AMD, Roku, and Alibaba to fund it.

• Wood’s team is betting big on SpaceX’s long-term potential, with internal research suggesting the company could eventually be worth $2.5 to $3.1 trillion, driven by things like orbital data centers and Starlink.

Cathie Wood’s Ark Invest has bought another 116,971 SpaceX shares, deepening one of its highest-conviction positions in the ARK ETF lineup. The purchase, disclosed in the firm’s daily trades for Friday, July 10, was worth roughly $17.8 million and led that day’s trading activity across ARK’s funds. The move extends a buying pattern that has defined Wood’s approach to SpaceX since the company’s blockbuster stock market debut.

The SpaceX purchase came alongside a separate acquisition of Coinbase shares across ARK’s ARKK, ARKW and ARKF funds, worth roughly $13.8 million, while the firm trimmed its stake in Advanced Micro Devices on the same day. Together, the trades illustrate how Wood continues to rotate capital toward names she considers structurally undervalued, even as broader market sentiment on some of those stocks stays mixed.

The latest SpaceX shares purchase is far from an isolated move.

Just two days earlier, on July 8, Ark Invest added SpaceX shares across four separate funds ARK Innovation, ARK Autonomous Technology & Robotics, ARK Next Generation Internet and ARK Space & Defense Innovation making it the most heavily accumulated stock in that day’s trading batch. SpaceX shares were trading near a 52-week low around that period, a level Wood’s team has repeatedly treated as a buying opportunity rather than a warning sign.

Ark has spent more than $475 million accumulating SpaceX stock since the company’s June 12 IPO, funding much of that buying by trimming positions in names like AMD, Roku and Alibaba. ARK’s own research team has pegged SpaceX’s long-term enterprise value between $2.5 trillion and $3.1 trillion, arguing the market underestimates the company’s potential in orbital computing and energy infrastructure alongside its core rocket and satellite business.

For Wood, the buying signals continued conviction in SpaceX’s story despite sharp swings since its listing.