Why Cathie Wood Is Dumping Tesla for Coinbase and Deere Right Now

TLDR

• Cathie Wood’s ARK ETFs sold 27,102 Tesla shares worth $11.37 million on November 26, 2025, continuing a selling trend since early November
• ARK purchased 62,166 Coinbase shares totaling $15.79 million across multiple funds, despite the stock being down 26.7% over the past month
• ARK bought 30,518 Deere shares worth $15 million after the stock dropped 5.7% following a weaker fiscal 2026 outlook
• Tesla remains the largest holding in ARK’s ARKK ETF despite ongoing sales
• ARK also reduced positions in 10X Genomics, GitLab, Exact Sciences, Iridium, and Ibotta while making smaller purchases in CoreWeave, CRISPR Therapeutics, Klarna, and Recursion Pharmaceuticals

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Cathie Wood’s ARK Invest continued reshaping its portfolio on November 26, 2025, with major trades involving Tesla, Coinbase, and Deere. The moves reflect ongoing strategy adjustments across the fund manager’s various ETFs.

ARK sold 27,102 shares of Tesla through its ARKK ETF for approximately $11.37 million. This sale represents a continuation of a selling pattern that began in early November. Tesla stock gained 1.7% on the trading day despite ARK’s decision to reduce its position.

Tesla, Inc., TSLA

The electric vehicle maker remains the largest holding in the ARKK ETF even after these recent sales. Tesla’s market capitalization recently increased by nearly $90 billion, driven by investor interest in the company’s AI and autonomous driving projects.

However, Tesla’s core EV business faces headwinds in some markets. Sales in Europe dropped 48.5% year-over-year in October. This decline contrasts with the excitement surrounding the company’s robotaxi developments.

On the buying side, ARK made its largest purchase in Coinbase Global. The firm acquired 62,166 shares worth $15.79 million across its ARKK, ARKW, and ARKF ETFs. This purchase continues a pattern of accumulating the cryptocurrency exchange’s stock.

ARK’s Coinbase Strategy

Coinbase shares have fallen 26.7% over the past month. The decline occurred despite the company reporting strong third-quarter results. Two analysts recently downgraded Coinbase stock, citing concerns about stretched valuation.

Coinbase Global, Inc., COIN

Bitcoin prices have also dropped nearly 21% during the same period. ARK’s continued investment in Coinbase comes during this broader cryptocurrency market pullback.

ARK’s second-largest purchase involved Deere & Co. The firm bought 30,518 shares worth about $15 million through its ARKQ and ARKX ETFs. Deere stock fell 5.7% on November 26 despite beating fourth-quarter fiscal 2025 sales and earnings estimates.

The stock decline followed the company’s weaker fiscal 2026 outlook. Wood appears to view this price drop as a buying opportunity. The purchases were made through ARK’s autonomous technology and space exploration focused ETFs.

Additional Portfolio Changes

ARK also reduced positions in several other companies. The firm sold 13,071 shares of Exact Sciences for $1.32 million. It offloaded 98,492 shares of Ibotta for $2.26 million, continuing to trim its stake in the company.

The fund sold 85,356 shares of Iridium Communications for $1.40 million. It also disposed of 19,672 shares of GitLab for $811,273. These sales align with ARK’s pattern of reducing exposure in certain holdings.

On the acquisition side, ARK made smaller purchases across multiple sectors. The firm bought 10,308 shares of CoreWeave through its ARKK ETF for $734,857. It also acquired shares in CRISPR Therapeutics, Klarna Group, and Recursion Pharmaceuticals.

ARK’s November 26 trades totaled over $11 million in Tesla sales and more than $30 million in combined Coinbase and Deere purchases.

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