Cathie Wood’s ARK Invest made several notable portfolio adjustments on October 31, with the largest move being an $8.15 million sale of Palantir shares. The ARK Innovation ETF sold 41,892 shares of the data analytics company, continuing a week-long reduction in Palantir stock ahead of its Q3 earnings report scheduled for November 3. Analysts expect strong results, with earnings projected at $0.17 per share—up 70% year-over-year—and revenue anticipated to reach $1.09 billion, nearly a 50% increase, driven by demand for Palantir’s Artificial Intelligence Platform.

In addition to trimming Palantir, ARK also sold 42,865 shares of Kratos Defense & Security Solutions, valued at $3.78 million. This move signals Cathie Wood’s gradual shift away from defense sector stocks. The fund further reduced its position in Shopify, offloading 11,142 shares worth $1.93 million via its ARK Fintech Innovation ETF, marking the second consecutive week of Shopify share sales.

On the buying front, ARK made a significant purchase in the cryptocurrency space, acquiring 105,013 shares of Bullish exchange across three different ETFs for a total of $5.25 million. This adds to the fund’s existing investment, following a $8.27 million purchase of Bullish shares in mid-October.

Bullish, which debuted on the New York Stock Exchange with a $1.1 billion listing, initially attracted roughly $172 million in ARK investments. The digital asset exchange trades under the ticker symbol BLSH and saw its shares close at $50.57 on Friday, up 1.24% for the day. Backed by Block.one and led by CEO Tom Farley, Bullish celebrated its US launch with an event hosting prominent digital asset leaders.

Earlier in October, Bullish commenced operations in 20 US states after obtaining key regulatory approvals—including New York’s BitLicense and a money transmission license. The platform welcomed its first US trading clients, BitGo and Nonco, beginning with spot trading services tailored to institutional customers. Since its global launch in 2021, Bullish has facilitated over $1.5 trillion in trade volume, ranking it among the top 10 exchanges for Bitcoin and Ethereum trading.

ARK Invest also expanded its position in the biotech sector by purchasing 38,846 shares of Intellia Therapeutics for $476,640. Intellia, a gene-editing company focusing on CRISPR therapy development, remains one of ARK’s top holdings within biotechnology.

These portfolio moves highlight ARK’s strategic reallocations ahead of key earnings reports and its continued confidence in blockchain innovation alongside selective biotech growth.
https://coincentral.com/cathie-wood-sells-palantir-stock-buys-bullish-exchange-shares-before-earnings/