This article first appeared on GuruFocus .
Cathie Wood's ARK Invest made a notable portfolio rotation last week, loading up on Teradyne ( NASDAQ:TER ) and AeroVironment ( NASDAQ:AVAV ) while taking profits in several major winners including Advanced Micro Devices ( NASDAQ:AMD ), Taiwan Semiconductor Manufacturing ( NYSE:TSM ) and Eli Lilly ( NYSE:LLY ).
The moves suggest ARK is shifting fresh capital toward robotics, defense and autonomous technologies after strong corporate results, while trimming areas where stocks have already delivered substantial gains.
Teradyne was one of the biggest additions.
On Oct. 28, ARK purchased roughly 74,700 Teradyne shares across three ETFs, including about $16.9 million through ARKK alone. The buying followed Teradyne's third-quarter earnings report and an outlook pointing to continued AI-driven demand and a larger compute ramp during 2027.
AeroVironment was another major target.
ARK added the drone and autonomous-systems company on multiple days, including roughly $8.3 million worth of shares across ARKQ and ARKX on Oct. 27, before adding more the following day. The purchases fit ARK's growing interest in defense technology, drones and autonomous systems.
At the same time, Wood continued taking money off the table in semiconductor names.
ARK sold AMD and TSMC shares repeatedly during the week after both stocks posted strong gains earlier in the year. On Oct. 27 alone, ARK sold roughly $16.2 million of AMDand about $10.6 million of TSMC, according to trade disclosures.
Eli Lilly also became a source of cash.
ARK sold roughly $24 million of LLY shares on Oct. 30, reducing its position after the drugmaker's strong run.
Investor Takeaway
I think the bigger story is the rotation, not any single trade.
ARK is not abandoning AI or semiconductors. Instead, Wood appears to be harvesting gains from established winners and redeploying capital toward areas where she sees more asymmetric upside, particularly robotics, drones, autonomous aviation and AI-linked industrial technology.
That is classic ARK behavior.
For investors following Wood's positioning, the key names to watch are Teradyne, AeroVironment, Archer Aviation, Joby Aviation and Kratos, while continued selling in AMD, TSMC and other large winners could show where ARK believes expectations have already become more fully priced.
Wood is still betting on disruptive technology.
She is just changing where she wants the next dollar invested.
