Summary ARK Invest’s Q4 2025 13F portfolio fell to ~$15.07B, with 197 holdings and significant concentration in TSLA, SHOP, ROKU, COIN, and PLTR. Stake increases were made in COIN, CRSP, TEM, BEAM, CRCL, BMNR, ILMN, META, BLSH, GOOGL, DKNG, BIDU, CRWV, and NTLA, signaling conviction in disruptive innovation themes. Significant reductions occurred in TSLA, SHOP, ROKU, PLTR, AMD, HOOD, TER, RBLX, and AMZN, with ARK harvesting gains in several top positions. ARK continues to build positions in select genomics, AI, and crypto-related names, while maintaining sizable ownership stakes in multiple early-stage companies. This article is part of a series that provides an ongoing analysis of the changes made to ARK Invest’ 13F portfolio on a quarterly basis. It is based on their regulatory 13F Form filed on 02/11/2026. ARK Invest was founded by Cathie Wood in 2014. They manage several actively managed ETFs, index ETFs, and certain other international products. Assets Under Management has come down from over $50B at the peak to ~$15B now. They invest in what they term “disruptive innovation”. The actively managed ETFs are ARK Innovation ETF (ARKK), ARK Autonomous Tech & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Genomic Revolution ETF (ARKG), ARK Fintech Innovation ETF (ARKF), ARK Space Exploration & Innovation ETF (ARKX), and ARK 21Shares Bitcoin ETF (ARKB). This quarter, ARK Invest’ 13F portfolio value decreased from ~$16.80B to ~$15.07B. The number of holdings increased from 196 to 197. There are 46 securities that are significantly large, and they are the focus of this article. The top three holdings are at ~17% while the top five are at ~25% of the 13F assets: Tesla, Shopify, Roku, Coinbase Global, and Palantir. Please visit our previous update for the fund’s moves during Q3 2025. Note 1: Unlike other investment management businesses, ARK is pioneering an open source model of investment research through a couple of initiatives: a) Valuation models on businesses are being made available to the public through GitHub (somewhat out-of-date at the moment), and b) daily trades are available to anyone who signs up for it. Note 2: The 13F data on which this article is based is as of 12/31/2025. Updated daily holdings data for each of their ETFs are publicly available . Note 3: Although as a percentage of the overall portfolio the positions are very small, it is significant that they have sizable ownership stakes in the following businesses: 908 Devices (MASS), Absci Corp (ABSI), Adaptive Biotech (ADPT), Arcturus Therapeutics (ARCT), Butterfly Network (BFLY), Cerus Corp. (CERS), Nextdoor Holdings (NXDR), Pacific Biosciences (PACB), Personalis (PSNL), and Quantum-Si (QSI). Stake Increases: Coinbase Global ( COIN ) : COIN had an IPO in April 2021. Shares started trading at ~$290 and currently go for ~$141. The position was built during Q2 & Q3 2021 at prices between ~$225 and ~$342. Recent activity follows. Q1 2024 saw a ~50% selling at prices between ~$117 and ~$280. That was followed by a ~20% reduction during the next quarter at prices between ~$199 and ~$263. Q2 2025 also saw a ~15% selling at prices between ~$143 and ~$382. The stake is at 3.82% of the portfolio. There was a ~9% trimming during the last quarter while in this quarter there was a ~6% stake increase. CRISPR Therapeutics AG ( CRSP ) : The bulk of the current 3.66% of the portfolio position in CRSP was built in 2020 at prices between ~$38 and ~$169. The stake has wavered. Recent activity follows. Q4 2024 saw a ~20% stake increase at prices between ~$39 and ~$55. That was followed by a ~13% increase during the next quarter at prices between ~$34 and ~$53. The stock is now at $48.93. The last three quarters saw only minor adjustments. Note: they have a ~11% ownership stake in CRISPR Therapeutics. Tempus AI ( TEM ) : TEM had an IPO in June 2024. Shares started trading at ~$40 and currently go for $50.78. The position was built during Q3 2024 at prices between ~$31 and ~$72. There was a ~130% stake increase during the next quarter at prices between ~$33 and ~$78. That was followed by a ~35% increase during Q1 2025 at prices between ~$32 and ~$89. The stake is now at ~3% of the portfolio. There was marginal trimming during the last two quarters while in this quarter there was a minor increase. Beam Therapeutics ( BEAM ) : BEAM is a 2.29% of the portfolio position built over the seven quarters through Q2 2022 at prices between ~$22 and ~$130. There was a ~7% increase during Q4 2023 at prices between ~$18 and ~$31. The stake was decreased by 13% in the next quarter at prices between ~$24 and ~$45. Q2 & Q3 2024 saw another ~20% selling while during Q1 2025 there was a similar stake increase at prices between ~$18 and ~$34. The last quarter saw a ~25% further increase at prices between ~$16 and ~$26. This quarter also saw a ~13% stake increase at prices between ~$20 and ~$32. The stock is now at $26.93. Note: they have a ~15% ownership stake in Beam Therapeutics. Circle Internet Group ( CRCL ) : CRCL had an IPO on June 5 th 2025. Shares started trading at ~$69 and currently go for $56.63. ARK Invest bought ~4.5M shares on the first day of trading as the shares traded up to ~$104 per share –some of that was acquired through IPO allocation at $31 per share while the rest were open market purchases. The quarter also saw a ~40% reduction as CRCL traded as high as ~$299. This quarter saw a ~40% stake increase at prices between ~$65 and ~$160. Bitmine Immersion Technologies (BMNR): BMNR is a 1.70% of the portfolio position purchased during the last quarter at prices between ~$30 and ~$161 and the stock currently trades well below that range at $19.74. There was a ~27% stake increase this quarter at prices between ~$24 and ~$66. Illumina Inc. ( ILMN ) : ILMN is a 1.34% of the portfolio stake established during Q4 2024 at prices between ~$129 and ~$155. There was a ~30% stake increase during the next quarter at prices between ~$79 and ~$144. Q2 2025 saw a similar increase at prices between ~$69 and ~$97. That was followed by another similar increase during the last quarter at prices between ~$91 and ~$111. The stock currently trades at ~$114. They are building this position. There was a minor ~5% stake increase this quarter. Meta Platforms ( META ) : META position saw a ~40% stake increase during Q1 2024 at prices between ~$345 and ~$505. That was followed by a ~17% increase during Q4 2024 at prices between ~$554 and ~$632. The next quarter saw a ~10% reduction at prices between ~$576 and ~$737. That was followed by a ~30% selling during Q2 2025 at prices between ~$480 and ~$748. The stock currently trades at ~$650. The last two quarters saw only minor adjustments. The stake is now at 1.31% of the portfolio. Bullish (BLSH): BLSH had an IPO on August 12 th 2025 at $37 per share. Shares started trading at ~$90 and currently go for $31.71. The position was purchased during the last quarter at prices between ~$48 and ~$118. There was a ~87% stake increase this quarter at prices between ~$34 and ~$71. Alphabet Inc. (GOOGL): The 1.14% GOOGL stake was built this quarter at prices between ~$236 and ~$329. The stock currently trades at ~$309. DraftKings Inc. ( DKNG ) : DKNG came to market through a De-SPAC transaction in Q1 2021. The 0.77% of the portfolio stake was built through consistent buying every quarter at prices up to ~$70. Recent activity follows. Q2 2024 saw a ~30% reduction at prices between ~$35 and ~$47. That was followed by a ~13% trimming during Q1 2025 at prices between ~$33 and ~$54. The next quarter also saw a ~8% trimming at prices between ~$30 and ~$44. There was a ~23% further selling during the last quarter at prices between ~$37 and ~$49. This quarter saw a roughly one-third stake increase at prices between ~$26 and ~$38. The stock is now at $25.16. Baidu Inc. ( BIDU ) : The ~1% BIDU stake was built this quarter at prices between ~$108 and ~$150. The stock currently trades at ~$138. CoreWeave ( CRWV ) : CRWV is a 0.91% of the portfolio position built this quarter at prices between ~$64 and ~$153. The stock is now at $95.70. Intellia Therapeutics ( NTLA ) : NTLA was a minutely small position in ARK’s first 13F filing in 2016. The 2017-2020 time period saw the position built to a ~11.2M share position at prices between ~$12.50 and ~$62. Since then, the stake has wavered. Recent activity follows. Q4 2023 saw a ~15% increase at prices between $23.16 and $32.34. There was a ~20% further increase this quarter at prices between ~$8 and ~$28. The stock currently trades at $11.62, and the stake is at 0.85% of the portfolio. Note: they have a ~16% ownership stake in Intellia Therapeutics. Brera Holdings plc (SLMT): The very small 0.11% SLMT stake was established during the last quarter at prices between ~$6 and ~$53. This quarter saw a ~25% stake increase at prices between $1.71 and $29.46. The stock is now at $1.07. 10X Genomics (TXG), AeroVironment Inc. (AVAV), ARK 21Shares Bitcoin ETF (ARKB), Archer Aviation (ACHR), Block Inc. (XYZ), Deere & Co (DE), NVIDIA Corp (NVDA), Recursion Pharma (RXRX), Taiwan Semi (TSM), Twist Bioscience (TWST), and The Trade Desk (TTD): These positions were increased during the quarter. Note: They have significant ownership stakes in the following businesses: 10X Genomics, Archer Aviation, and Twist Bioscience. Stake Decreases: Tesla Inc. ( TSLA ) : TSLA is currently the largest 13F position at 8.70% of the portfolio. It was already a small position in their first 13F filing in 2016. Recent activity follows. Q3 2024 saw a ~14% selling at prices between ~$192 and ~$263. That was followed by a ~28% reduction during the next quarter at prices between ~$214 and ~$480. There was a ~17% stake increase during the last quarter at prices between ~$289 and ~$451. This quarter saw a ~19% selling at prices between ~$383 and ~$499. The stock currently trades at ~$417. Shopify ( SHOP ) : The bulk of the current 4.25% position in SHOP was built during the three quarters through Q2 2021 at prices between ~$92 and ~$147. The stake has since wavered. Recent activity follows. The position was decreased by ~24% during Q1 2024 at prices between ~$72 and ~$91. There was a ~14% stake increase during Q2 2025 at prices between ~$70 and ~$117. This quarter saw a ~17% reduction at prices between ~$136 and ~$182. The stock is now at ~$111. Roku ( ROKU ) : ROKU is a large (top three) 4.24% of the portfolio position built in the 2019-20 period at prices between ~$33 and ~$357. The four quarters through Q3 2022 saw another ~150% stake increase at prices between ~$56 and ~$345. Recent activity follows. Q3 2024 saw a ~12% trimming at prices between $51.67 and $77.45. That was followed by a ~20% reduction during Q1 2025 at prices between ~$67 and ~$99. The last quarter also saw a ~13% trimming at prices between ~$79 and ~$103. That was followed by a ~20% further selling this quarter at prices between ~$91 and ~$117. The stock is now at $82.93. Note: they have a ~5% ownership stake in Roku. Palantir Technologies ( PLTR ) : The 3.81% stake in PLTR was established during Q2 2023 at prices between ~$7.40 and ~$16.60. Recent activity follows. Q4 2024 saw a ~30% reduction at prices between $36.46 and $82.38. The next quarter also saw a ~20% selling at prices between ~$65 and ~$125. That was followed by a ~35% reduction during Q2 2025 at prices between ~$66 and ~$148. This quarter also saw a ~20% selling at prices between ~$148 and ~$208. The stock currently trades at ~$129. They are harvesting gains. Advanced Micro Devices ( AMD ) : The 3.66% AMD stake was built during Q3 2024 at prices between ~$129 and ~$184. The next quarter saw a ~55% stake increase at prices between ~$119 and ~$173. That was followed by a ~18% stake increase during Q1 2025 at prices between ~$97 and ~$130. There was a ~90% further increase during the next quarter at prices between ~$77 and ~$148. The last quarter also saw a ~13% stake increase at prices between ~$134 and ~$187. There was a ~16% reduction this quarter at prices between ~$161 and ~$267. The stock currently trades at ~$206. Robinhood Markets ( HOOD ) : HOOD had an IPO in August 2021. Shares started trading at ~$55 and currently go for ~$71. The 3.61% of the portfolio position was built through consistent buying over the four quarters through Q2 2022 at prices between ~$7 and ~$55. Recent activity follows. Q1 2025 saw a ~20% selling at prices between ~$36 and ~$65. That was followed by a similar reduction during the next quarter at prices between ~$30 and ~$94. The last quarter also saw a ~35% selling at prices between ~$90 and ~$144. They are harvesting gains. There was a minor ~4% trimming this quarter. Teradyne Inc. (TER): The ~3% TER position saw a ~25% stake increase during the last quarter at prices between ~$89 and ~$138. This quarter saw a ~14% selling at prices between ~$132 and ~$205. The stock currently trades at ~$311. Roblox Corp ( RBLX ) : The 2.60% RBLX position was built during the four quarters through Q3 2022 at prices between ~$23 and ~$135. Recent activity follows. Q1 2025 saw a ~11% trimming at prices between ~$54 and ~$76. That was followed by a ~25% reduction during the next quarter at prices between ~$50 and ~$106. The last quarter also saw a ~22% selling at prices between ~$100 and ~$151. The stock currently trades at $63.15. There was a ~9% trimming this quarter. Amazon.com ( AMZN ) : The 1.86% AMZN position saw a whopping ~160% stake increase during Q4 2024 at prices between ~$181 and ~$233. The next quarter saw a ~18% stake increase at prices between ~$190 and ~$242. That was followed by a ~8% stake increase during Q2 2025 at prices between ~$161 and ~$224. The last quarter also saw a similar increase. The stock is now at ~$200. There was marginal trimming this quarter. Airbnb (ABNB), BWX Technologies (BWXT), GitLab Inc. (GTLB), Iridium Communications (IRDM), Kratos Defense & Security (KTOS), Natera Inc. (NTRA), PagerDuty (PD), Pinterest Inc. (PINS), Rocket Lab (RKLB), SoFi Technologies (SOFI), and Veracyte Inc. ( VCYT ) : These stakes were reduced during the quarter. Note: they have significant ownership stakes in the following businesses – Kratos Defense & Security, Rocket Lab, and Veracyte. The spreadsheet below highlights changes to ARK Invest’ 13F holdings in Q4 2025: Cathie Wood - ARK Invest Portfolio - Q4 2025 13F Report Q/Q Comparison (John Vincent (author)) Source: John Vincent. Data constructed from ARK Invest’s 13F filings for Q3 2025 and Q4 2025.
