Cathie Wood’s ARK Invest ETFs stepped up their bet on Shopify on Monday, May 4, 2026, as the firm continued to rebalance its portfolio. The move came alongside fresh buying in defense giant L3Harris and further selling in CoreWeave and Advanced Micro Devices.
The cathie wood shopify stock purchase stood out because Shopify and L3Harris both carry a Strong Buy consensus on the TipRanks comparison tool, with analyst targets pointing to about 27% upside for each. That leaves the new buying aligned with names Wall Street already favors, while CoreWeave and AMD sit in a weaker lane by comparison.
ARK’s trim list matters because it shows where the money is being pulled from. The firm continued to cut exposure to some of the year’s top-performing hardware names on Monday, even as it added to a software-driven commerce stock and a defense stock. CoreWeave has limited upside based on analyst price targets, and AMD suggests a slight downside.
That split captures the shape of ARK’s latest move: lock in gains from the hardware rally, then redeploy capital into names with clearer support from analysts. Monday’s activity also showed Wood was not backing away from risk altogether, but shifting it toward stocks that still have room to run on paper.
For now, the main question is whether ARK’s rotation marks a one-day adjustment or the start of a broader reset in how the fund is positioning for the next stretch of the market.