ARK Invest buys 54,815 Tesla shares as Wood doubles down on Musk factor

Cathie Wood's ARK Invest purchased 54,815 Tesla shares on June 18 across two funds, a trading notice showed.

The purchase comes days after ARK allocated to SpaceX following its record-breaking IPO on June 12, which raised $75 billion and valued the company at more than $2.1 trillion. Wood has described robotaxis as a key growth driver for Tesla and has consistently backed Elon Musk-led companies as core holdings across her actively managed ETFs.

ARK added SpaceX shares to four of its six ETFs on IPO day, including 1.69 million shares in the ARK Innovation ETF, where the stock now carries a 3.2% weighting. On the same day as the Tesla purchase, ARK also added to its Snowflake position and exited a $77 million stake in Roku, according to the trading data.

Tesla remains the largest holding in the flagship ARK Innovation ETF. The purchase signals Wood's conviction that Tesla's valuation will benefit from Musk's broader ecosystem, which now includes a publicly traded SpaceX. Investors will watch for further ARK disclosures as SpaceX's tiered lockup schedule begins after the second-quarter earnings report in late July.

This article is for informational purposes only and does not constitute investment advice.