ARK made a very clear portfolio rotation on August 28: selling AMD and buying Nvidia and Broadcom. Based on the closing prices that day, it sold 156,300 shares of AMD for about $72.8 million, bought 243,700 shares of Nvidia for about $53 million, and 112,800 shares of Broadcom for about $41 million. The amount sold was about $20 million more than the amount bought, which means this was not just a change in holdings, but also a modest reduction in overall chip exposure. The timing is also interesting: on the day it bought Nvidia, Nvidia’s stock had just closed down 4.6% at around $217, so it was a buy-the-dip move. How to read this adjustment: AMD’s recent rally has been sharp and its valuation has moved up quickly, while Nvidia and Broadcom have more clearly visible order pipelines. In other words, this is a shift from the upside potential of a “catch-up” name back to the certainty of existing orders. A one-week institutional rebalance should not be treated as gospel, but the direction is worth noting.
$AMDB $NVDAB $AVGOB