ARK Investment Management increases Meta holdings, reduces Alphabet stake

Cathie Wood’s ARK Investment Management scooped up 43,091 shares of Meta Platforms while dumping 84,392 shares of Alphabet on September 9, executing a near-dollar-neutral swap worth approximately $27.9 million on each side. Meta’s stock surged roughly 6.55% that day on the back of its Muse AI agent launch, while Alphabet shares slid about 2%. Wood’s team essentially sold into weakness and bought into strength. The numbers behind the rotation ARK increased its Meta stake by 55.2% during the second quarter of 2026, according to its latest 13F filing. The September 9 trade is a continuation of that accumulation trend. ARK has been steadily trimming its Alphabet position over several weeks. The nearly identical dollar amounts on both sides of the trade indicate this isn’t ARK pulling money out of tech—it’s ARK reshuffling its tech allocation, swapping one AI horse for another. Wall Street’s consensus view points in the opposite direction. Analysts at the time of the trade projected a 28.9% upside for Alphabet compared to just 15.2% for Meta. By that measure, Wood is buying the stock with less room to run and selling the one that looks cheaper on a forward basis. Why Meta over Alphabet?...