Cathie Wood Cuts Meta Stake, Shifts Focus to Tesla and Crypto

• Ark Invest has begun selling the firm’s shares in Meta for the first time in almost twelve months.
• Cathie Wood has shifted focus back to Elon Musk’s Tesla and other disruptive firms in the crypto space.
• Wood has remained one of Musk’s most loyal supporters and investors.

Cathie Wood’s Ark Investment Management is selling its shares in Meta for the first time in almost a year, marking the latest sign of declining U.S. tech stocks.

On Tuesday, March 18, Meta’s stock suffered a negative downturn for the year as investors have become increasingly concerned about U.S. tariffs and Chinese AI competition.

Cathie Wood Cuts Meta Stake

On Monday, March 17, Wood’s flagship ARK Innovation ETF sold Meta 12,595 shares and a further 2,160 shares the following day.

The stock sell-offs follow the company purchasing shares in the social media platform owner for most of 2024.

Wood’s Investment company owned over 460,000 shares in Meta on Dec. 31, 2024.

Meta’s shares fell 3.7% on Tuesday, marking a 0.5% decline for 2025.

Meta is the final Magnificent Seven stock to lose its year-to-date gain.

Cathie Wood Shifts Focus to Crypto

Alongside selling Meta shares, Wood has also turned her attention to disruptive technologies and crypto.

Wood and her Ark Invest firm bought shares in Tesla, Palantir, Robinhood, and Coinbase.

The Ark Invest CEO has gained a reputation for taking massive bets on disruptive technologies, many of which have returned huge gains.

Discussing the recent purchase of Tesla and crypto firms, Wood said they were buying “names that mimic Bitcoin” and “taking advantage of this risk-off period” in an interview with Bloomberg TV.

A Bet on Elon Musk

Wood has positioned herself as a prominent supporter of Elon Musk, investing in several of the billionaire’s private ventures.

The Ark Invest CEO has also publicly supported Musk’s ambitions in the White House, responding to criticism that his work in the Department of Government Efficiency could spread his time too thin.

“He’s surrounded himself by businesspeople and engineers who want to work on the hardest projects in the world,” Wood said of Musk, “the hardest projects that are going to help transform the way we live and work.”

Ark fund’s largest holding is SpaceX, comprising approximately 12.7% of its assets, valued at an estimated $8.7 million.

Wood has also remained optimistic about Musk’s Tesla autonomous driving plans despite several setbacks and increased competition in the U.S.

“It’s winner take most,” Wood said in a live recording of Bloomberg’s “Odd Lots” podcast, “and we do believe that Tesla will be and is in the pole position here in the United States.”