Cathie Wood’s ARK Autonomous Technology and Robotics exchange-traded fund (ETF), known as ARKQ, recently made changes to its portfolio. The ETF sold approximately $3 million worth of General Motors Co. (GM) shares while simultaneously purchasing a similar value of Taiwan Semiconductor Manufacturing Co. Ltd.’s (TSM) stock.
Adjustments to Holdings
ARKQ revealed in a disclosure late Thursday that it sold 72,519 shares of GM, which accounted for roughly 19.3% of the ETF’s stake in the company. Based on GM’s closing price of $39.26 per share on Thursday, the total value of the shares sold amounts to approximately $2.85 million.
In contrast, ARKQ acquired 28,909 shares of Taiwan Semi, valued at $97.86 per share at Thursday’s closing price. This purchase resulted in a 19.9% increase in the ETF’s stake in Taiwan Semi, bringing it to the 23rd largest holding within its portfolio.
Within ARKQ’s portfolio of 37 stocks, Tesla Inc. (TSLA) and UiPath Inc. (PATH) are the two largest holdings. As for Taiwan Semi, it now ranks as the ETF’s 23rd largest holding, while GM stands as the 31st largest.
While Taiwan Semi experienced a 5.1% decrease in stock value on Thursday following disappointing second-quarter margin results, GM shares recorded a marginal increase of 0.1%.
As of Friday, ARKQ has displayed an impressive year-to-date rally of 39.9%. In comparison, the S&P 500 has achieved an 18.1% gain over the same period.