Key Takeaways
- Wood’s investment firm divested more than 100,000 Taiwan Semiconductor shares valued at $40.6 million
- Approximately 255,000 shares of AI chip maker Cerebras Systems were acquired
- More than 162,000 shares of healthcare AI company Tempus AI were purchased
- The firm sold $10.9 million worth of AMD stock across several funds
- The flagship ARK Innovation ETF has declined 3.81% year-to-date, underperforming the S&P 500’s 8%+ gain
Cathie Wood’s investment management firm executed multiple portfolio adjustments in recent trading sessions, reducing semiconductor holdings while increasing stakes in artificial intelligence infrastructure and medical technology companies.
The most substantial divestment involved Taiwan Semiconductor Manufacturing Company. Between May 14 and 15, the firm liquidated 100,549 shares of the chip manufacturing giant, representing approximately $40.6 million in value. Despite the sale, TSMC stock has climbed roughly 35% since the beginning of the year. The semiconductor manufacturer recently upgraded its projection for the worldwide chip market to reach $1.5 trillion by 2030, revising upward from its previous $1 trillion estimate, with artificial intelligence and high-performance computing anticipated to drive 55% of future demand.
Taiwan Semiconductor Manufacturing Company Limited, TSM
The chip foundry reported impressive first-quarter 2026 financial results, posting revenue growth of 35.1% and net income expansion of 58.3%. The company’s chief executive characterized artificial intelligence demand as “extremely robust.” Nevertheless, the semiconductor manufacturer remains outside the firm’s top ten portfolio positions.
The investment firm also divested approximately 62,000 shares of Advanced Micro Devices totaling $10.9 million, alongside more than 57,000 Teradyne shares worth $20.7 million. These transactions occurred as the iShares Semiconductor ETF experienced a roughly 4% decline on May 15.
Strategic Acquisitions in Artificial Intelligence and Medical Technology
On the acquisition side, the firm purchased approximately 255,000 shares of Cerebras Systems, marking one of its most significant single-week investments. Cerebras manufactures AI compute equipment and has garnered increasing attention from the investment community.
The firm also acquired more than 162,000 shares of Tempus AI, an organization leveraging artificial intelligence for healthcare applications and diagnostic services. The flagship fund added 132,000 Intellia Therapeutics shares and 52,000 Natera shares, maintaining its investment approach in precision medicine technologies.
Within the financial technology sector, nearly 42,000 Circle Internet shares were purchased across three different funds, expanding exposure to digital payment systems and cryptocurrency-related financial infrastructure.
Additionally, more than 61,000 Kodiak AI shares and 183,000 Kratos Defense shares were acquired, reflecting an ongoing strategy of building holdings in military technology companies.
Portfolio Performance and Strategic Vision
The firm’s primary fund, the Ark Innovation ETF, has decreased 3.81% through 2026 thus far, lagging behind the S&P 500’s gain exceeding 8%. Examining a five-year period, the fund has generated an annualized return of negative 6.25%, while the S&P 500 achieved 13.80%, based on Morningstar data.
Despite the performance gap, Wood maintains her strategic conviction. She has characterized this era as a “great acceleration” powered by artificial intelligence and emerging technologies, and has rejected suggestions of market overvaluation.
“AI training costs are dropping 75% per year,” Wood stated during a recent Bloomberg podcast appearance, noting that inference costs are declining at an even faster rate.
Investor appetite for the firm’s funds appears stable. The Ark Innovation ETF attracted approximately $1.48 billion in net capital inflows during the five-day period ending May 14, according to ETF analytics provider VettaFi.
As of May 15, the firm’s largest portfolio positions include Tesla at 11.16%, AMD at 5.57%, and Circle Internet at 5.23%.
