ARK sells Deere, buys Rocket Lab in latest portfolio shift

ARK Investment Management, led by Cathie Wood, reduced its stake in Deere & Co. and initiated a new position in Rocket Lab in its latest 13F filing with the U.S. Securities and Exchange Commission.

The investment firm sold 1.1 million shares of Deere, the tractor and agricultural equipment manufacturer, during the quarter. Deere’s stock has faced pressure amid concerns over farm equipment demand amid high interest rates and economic uncertainty. ARK’s remaining stake in Deere was valued at approximately $13.5 million as of the filing.

ARK also disclosed a new investment in Rocket Lab, an aerospace company specializing in small satellite launches. The firm purchased 1.4 million shares of Rocket Lab, valuing the position at roughly $10.5 million. Rocket Lab’s shares have gained traction amid growing demand for space-based services and defense contracts.

The portfolio adjustments reflect ARK’s strategy of targeting disruptive innovation across sectors, including agriculture and aerospace. Deere’s exposure was reduced as part of a broader reassessment of holdings, while Rocket Lab was added to capitalize on long-term growth prospects in the space industry.

ARK’s latest 13F filing provides a snapshot of its equity holdings as of the end of the most recent quarter, though the document does not include trades executed after the reporting period.