Cathie Wood Dumps $11M in Tesla Stock for Coinbase and Deere

TLDR

• ARK Invest sold 27,102 Tesla shares worth $11.37 million on November 26, continuing weeks of Tesla stock reduction
• The fund purchased 62,166 Coinbase shares totaling $15.79 million despite the stock falling 26.7% in the past month
• ARK acquired 30,518 Deere shares worth $15 million after the stock dropped 5.7% on weak 2026 guidance
• Tesla remains ARK’s top holding despite ongoing sales, while Bitcoin has dropped 21% during the same period
• Additional sales included GitLab, Exact Sciences, Iridium, and Ibotta, with smaller buys in CoreWeave and biotech firms

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Cathie Wood’s ARK Invest executed major portfolio changes on November 26, 2025, selling millions in Tesla stock while increasing positions in Coinbase and Deere. The trades signal a strategic shift in the fund manager’s investment approach.

ARK offloaded 27,102 Tesla shares through its flagship ARKK ETF for $11.37 million. The sale continues a pattern that started in early November, with ARK consistently reducing its Tesla exposure. Despite these sales, Tesla remains the top holding in the ARKK ETF.

Tesla, Inc., TSLA

Tesla stock rose 1.7% on the trading day. The company’s market cap recently jumped by nearly $90 billion due to investor enthusiasm for its AI and self-driving technology. However, the automaker’s European sales tell a different story, falling 48.5% year-over-year in October.

Coinbase Becomes Major Focus

ARK made its biggest purchase in Coinbase Global, buying 62,166 shares worth $15.79 million across three ETFs: ARKK, ARKW, and ARKF. This marks a continued buildup of the cryptocurrency exchange despite recent market weakness.

Coinbase Global, Inc., COIN

Coinbase shares have declined 26.7% over the past month. The drop came even after the company posted strong third-quarter earnings. Two analysts recently downgraded the stock, pointing to high valuations.

Bitcoin has fallen nearly 21% during the same timeframe. ARK’s aggressive buying suggests Wood sees the current prices as an opportunity rather than a warning sign.

Deere Investment Following Earnings Drop

ARK’s second-largest purchase targeted Deere & Co, acquiring 30,518 shares worth approximately $15 million. The purchases were made through the ARKQ and ARKX ETFs, which focus on autonomous technology and space innovation.

Deere stock dropped 5.7% on November 26 despite beating fourth-quarter fiscal 2025 expectations for both sales and earnings. The decline followed management’s disappointing fiscal 2026 outlook. Wood appears to be betting on the agricultural equipment maker’s long-term growth potential.

Additional Trading Activity

ARK reduced holdings in multiple companies beyond Tesla. The fund sold 98,492 Ibotta shares for $2.26 million, continuing to exit this position. It also sold 85,356 Iridium Communications shares for $1.40 million and 19,672 GitLab shares for $811,273.

Exact Sciences saw ARK sell 13,071 shares worth $1.32 million. The fund also trimmed positions in 10X Genomics as part of its portfolio rebalancing.

Smaller acquisitions included 10,308 CoreWeave shares valued at $734,857 through the ARKK ETF. ARK also picked up shares in CRISPR Therapeutics, Klarna Group, and Recursion Pharmaceuticals. These purchases align with Wood’s focus on biotech and emerging technology companies.

The November 26 trading activity shows ARK moving capital away from certain tech holdings and into cryptocurrency exposure and industrial technology. Total purchases in Coinbase and Deere exceeded $30 million combined, while Tesla sales represented $11.37 million.

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