ARK Invest trims Robinhood position as defence stock sees inflows
The divestment from Robinhood Markets coincides with a surge in the broker’s share price, while ARK Invest increases its stake in the military manufacturing firm.
On 29 May 2026, ARK Invest, the investment firm led by Cathie Wood, executed a significant portfolio adjustment, selling 144,218 shares of Robinhood Markets (Nasdaq: HOOD) valued at more than $12 million. The transaction occurred as Robinhood’s stock surged more than 11% to reach an intraday high of $94.40, driven by the company’s recent launch of trading-focused AI agents.
The move to reduce exposure in the fintech sector was accompanied by additional sales across other financial and technology stocks. ARK Invest also offloaded Teradyne (Nasdaq: TER) shares worth $8.88 million and Intercontinental Exchange (NYSE: ICE) shares valued at $66,000 on the same day. Both Teradyne, which specialises in automated test equipment and advanced robotics, and ICE, which operates global trading exchanges including the New York Stock Exchange, saw their share prices decline on 29 May 2026.
Conversely, the firm increased its holdings in the defence sector by purchasing 252,064 shares of Kratos Defense & Security Solutions (Nasdaq: KTOS), worth $16.16 million. Kratos, a manufacturer of weapons and military systems with clients that include the U.S. government, saw its stock fall 1.63% to close at $64.13 on 29 May 2026.
Robinhood Markets, founded by Stanford classmates Vladimir Tenev and Baiju Bhatt in April 2013, has established itself as a prominent e-trading platform known for commission-free offerings of stocks, options, and cryptocurrencies. The brokerage firm launched its public offering in July 2021 and was added to the S&P 500 index in September 2025.
The portfolio shifts highlight a rotation within ARK Invest’s holdings, moving capital from a surging retail broker and technology firms into defence manufacturing, despite the latter’s short-term price weakness.
