저자: 미상 · 외국인
요약 보기
ARK Invest의 최신 13F 분기 보고 분석. 최근 분기 Roku 84% 매도, 알리바바 85%·바이두 73% 매도, AMD 약 절반 차익실현. 반면 SpaceX(약 5% 비중), Cerebras(약 1.7억 달러 매수), X Energy(약 1억 달러 매수), Eli Lilly 510% 확대, Prime Medicine·Intellia 확대 등 우주·원전·정밀유전체 등 물리적 인프라 투자 확대. 포트폴리오에서 소비자 앱·광고 미디어 비중은 약 10%로 축소되고 심층기술 비중은 2/3 이상으로 확대. 발언자는 기술 인프라 전환을 장기 구조적 흐름으로 봄.
다듬은 글
Most retail investors are still busy arguing over which trendy streaming app or cloud stock is going to take off next quarter. Meanwhile, Wall Street's most aggressive institutional fund went ahead and dumped nearly 85% of its five-year darling in a single quarter, wiped out its Chinese tech bets, and used its remaining $15 billion to pull off a ruthless reshuffle nobody saw coming.
They didn't run for cash. They moved massive money, just not where the crowd is looking. So, what is the hard physical bottleneck they spotted behind the cloud that's making them pour hundreds of millions into things like private space and nuclear power? Why did they start aggressively cashing in on booming chip stocks?
And what is the structural trap inside digital platforms that made smart money slam the door on yesterday's market darlings without blinking? Stick with me, because today we're breaking down the latest 13F filing step by step, so you don't just watch where the big money moves, but actually understand the logic before the crowd catches on.
Let's kick things off with what they bought, because the money trail shows a very clear game plan. SpaceX jumping straight into the top tier with a nearly 5% weight is a huge milestone for private market investments. The fund managers realized that Starlink has turned into the backbone of global telecom and defense networks.
SpaceX isn't just a pie-in-the-sky promise anymore. It's a cash-printing machine. Now, it sits right up there next to market leader Tesla. Elon believes that uh that the leader, the AI leader in terms of frontier models, is going to be the company with the most computing capacity and at at the cheapest cost.
And with orbital data centers, he thinks uh Uh, he will be that company. So, he's really going to go after, you know, the the OpenAIs and and Anthropic's of the world, very determined. ARK dropped almost 170 million dollars into AI chipmaker Cerebras Systems. While everyday retail investors are still glued to the usual chip stocks, smart money is already looking at the physical limits of supercomputing.
Cerebras doesn't bother with tiny individual chips. They carve one giant massive processor out of an entire silicon wafer. This cuts complex AI training times down to a fraction of what they used to be. And this bet fits hand in glove with their Nvidia position, which they also boosted by another 33%.
Still, the most forward-looking buy of the entire quarter has to be X Energy. They poured nearly 100 million dollars into this small modular nuclear reactor startup. You might wonder, what on earth is nuclear power doing in a tech innovation fund? The answer that boils down to one word, electricity.
Next-gen AI models are so power-hungry that our existing power grids and weather-dependent renewables just can't keep up. Having zero-emission 24/7 base-load nuclear power built right next to data centers is quickly becoming the ultimate bottleneck of the entire tech boom. And if you think this aggressive cash deployment was strictly for tech hardware, take a look at their healthcare plays.
They dialed up their Eli Lilly stake by an eye-popping 510%, more than six times what it was. What used to be a tiny 11 million-dollar footnote suddenly turned into a 90 million-dollar plus pillar. While the mainstream crowd is cheering for weight-loss drugs, ARK is playing a much deeper game, combining AI algorithms with molecular biology.
Throw in a 33% boost to Prime Medicine and 16% to Intellia, and Precision Genomics now makes up roughly a quarter of their entire portfolio. The golden rule in finance goes like this. You don't judge a manager by what they buy, you judge them by what they ditch the second the economic wind changes. And what happened on the sell side was a brutal reality check.
The heaviest cut of the quarter was Roku. A company Arc hyped for years as the ultimate digital gatekeeper of television got completely chopped down. They dumped over 84% of their stake, leaving a measly 600,000 shares on their books. That pulled nearly $280 million out of the stock in three short months.
Here uh this week talk and advertisers are talking a lot about the transition of advertising from traditional TV to streaming. You know, Roku has 71 million active accounts. We added 10 million new active accounts last year. Almost half of all broadband households in the United States start their TV experience with the Roku home screen.
Here is where you see the massive gap between what management pitched and cold, hard market reality. On paper, moving TV ads to digital was supposed to make Roku a gold mine, but reality hit hard. The streaming hardware market got saturated and big tech giants sucked up all the ad budgets from independent platforms.
When your growth hits a wall and your profit margins get squeezed, a smart fund manager doesn't stick around hoping for a miracle. They pull the plug and cash out. That same ruthless discipline wiped out their Chinese internet stocks. They sold 85% of their Alibaba and 73% of their Baidu shares this quarter.
Slower economic growth and unpredictable regulations finally convinced Arc that Chinese tech just isn't worth the headache anymore. But don't miss what happened to classic US cloud software, either. They completely zeroed out Salesforce and Palo Alto Networks. The message is loud and clear. Capital is ditching mature slowing software companies and flowing straight into real hardware infrastructure.
And what about AMD? This is a textbook example of taking profits off the table. After the stock went on an absolute tear, rallying nearly 186% in a single quarter, Arc cashed out almost half of their shares, offloading about 1.3 million of them. It's not because they lost faith in AMD. It's still their second biggest position at over $820 million.
It's simply smart risk management. Skimming profits off the top gave them the fresh cash they needed to fund their big bets on SpaceX and clean energy. If we take a step back and look at this $15 billion machine from 30,000 ft, the big picture is unmistakable. Capital has turned its back on consumer apps and ad-driven media with their combined weight shrinking from 16% down to around 10%.
On the flip side, physical deep tech, supercomputing, satellite networks, nuclear power, and precision genomics now makes up more than 2/3 of Arc's entire portfolio. increase. Uh we think that during the next 3 to 5 years, we will be seeing regularly and perhaps on average growth uh north of 7%. Uh and that is just a two and a half-fold increase uh despite the fact that we have so much more technology evolving today than we did back then.
Back then it was electricity, telephone, and industrial internal combustion engine. Now we've got uh AI importantly, robotics, energy storage, blockchain technology, and multiomic sequencing in the life science space. So, what can everyday investors take away from all this? Two major lessons. First, taking profits isn't a crime.
It's how you survive. When a stock nearly triples like AMD, trimming your gains to free up cash for fresh opportunities is just good investing. Second, never fall in love with your stocks. When the numbers stop matching the hype like with Roku or Chinese tech, you have to cut your losses without looking back.
What do you think? Did ARK make the right call dumping streaming for rockets and nuclear power? Or is this a massive gamble? Let's talk about it down in the comments. Don't forget to hit subscribe and the notification bell to stay in the loop with big money moves. See you in the next video.
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