ARK Invest, under Cathie Wood, significantly adjusted its technology investment portfolio on Tuesday, September 29, 2026. It reduced its holdings in Advanced Micro Devices ( AMD ), while increasing its positions in NVIDIA and Tesla. The latest round of stock transactions by ARK Invest was disclosed on the same day that the U.S. Securities and Exchange Commission ( SEC ) approved a new plan for Tesla. This plan aims to involve more retail shareholders in voting, and the news drove Tesla's stock price up in after-hours trading.
Key Points
- ARK Invest sold approximately 181,767 shares of AMD from its four funds, worth about $110.5 million.
- ARK purchased 356,681 shares of NVIDIA, worth approximately $81.6 million.
- The Innovation fund under ARK purchased 48,352 shares of Tesla, worth approximately $17.28 million.
- SEC approved a voluntary plan for Tesla that allows retail shareholders to vote automatically alongside the board of directors.
- Tesla's stock price fell by 1.29% during regular trading hours on Tuesday, but after the release of the SEC news, it rose slightly in after-hours trading.
ARK Invest Large-scale Portfolio Adjustment on September 29th
The daily transaction disclosures published by a company under Cathie Wood show that several of its exchange-traded funds (ETF) underwent significant adjustments on that day. The transactions disclosed by ARK Invest involved chip manufacturers, electric vehicle giants, as well as several smaller biotechnology and technology companies.
Reduce holdings of AMD
ARK sold 181,767 shares of AMD, with the transactions spread across four ARK funds, totaling approximately $110.5 million in value. This move continues ARK's trend of gradually reducing its holdings of AMD over the past few months, rather than making a one-time exit.
Buy NVIDIA and Tesla
At the same time, the same group of ARK funds purchased 356,681 shares of NVIDIA, with a transaction value of approximately $81.6 million. The company also increased its holdings in Tesla by 48,352 shares through the Innovation funds, worth about $17.28 million. During the regular trading hours of Tesla, when prices were volatile, this further deepened their exposure to Elon Musk's company.
Other technology stock trades
In addition to the aforementioned key points, ARK also purchased Broadcom stocks worth $26.6 million, as well as CoreWeave stocks worth $21.6 million. The company also increased its holdings in Intellia Therapeutics by about $2.3 million and bought Veracyte stocks worth $5.4 million.
On the selling side, ARK also reduced its holdings in Tempus AI, Twist Bioscience, 10x Genomics, and Zillow. Among these, the reduction in holdings of 10x Genomics was the largest, amounting to approximately $38.5 million. Other smaller transactions included buying shares of Airbnb, Block, and Space Exploration Technologies Corp, as well as a slight reduction in holdings of Alphabet stocks.
SEC Approves Tesla's Retail Shareholder Voting Plan
The U.S. Securities and Exchange Commission approved a voluntary plan for Tesla that allows retail shareholders to automatically vote in accordance with the company's board of directors' recommendations on most matters, with the aim of increasing the long-term low participation rate of individual investors.
Features of the new voting plan
According to this plan, shareholders can choose to join and have their shares vote in accordance with the board of directors' recommendations on most matters. This setting will not automatically apply to controversial director elections and certain major corporate transactions, unless investors choose otherwise. There is no fee for joining the plan, and shareholders can register directly through Tesla, through brokerage firms, or by using voting services. Shareholders can also change or cancel their instructions at any time, and they retain continuous control even after joining.
Shareholder Participation and Influence
Tesla highlighted a significant disparity in participation in its application. In 2025, retail investors only voted on 28% of their holdings, while institutional investors accounted for 76.6% of the voting. This imbalance means that even though individual investors hold a considerable proportion of the shares, major shareholders still have a greater influence on company decisions. The new voluntary participation mechanism aims to narrow this gap by making participation the default option, rather than requiring retail investors to take proactive action.
The importance of this change lies in the fact that the voter turnout among shareholders affects the actual voice of ordinary investors in matters such as the composition of the board of directors, executive compensation, and major transactions. A broader base of retail investor voting may shift the balance of influence at annual general meetings, especially in companies like Tesla where retail investors hold a significant stake in the company's shares.
Tesla market reaction after the decision of SEC
Tesla's stock price fell by 1.29% during regular trading on Tuesday, in line with the overall downward trend of the stock on that day. However, after the news of the SEC approval reached investors, the stock price rose slightly in after-hours trading, indicating that the market viewed this voting plan as a minor positive for the company's governance image.
As the approval for SEC is announced, investors are still paying attention to developments related to the potential transaction with Space Exploration Technologies Corp, which could reignite discussions regarding Elon Musk's compensation at Tesla. However, this aspect has not yet been confirmed.
Wall Street's overall view on Tesla remains stable. Based on 12 buy ratings, 12 hold ratings, and 2 sell ratings issued over the past three months, the current consensus on the stock is "moderate buy," with an average target price of $391.40, which represents a potential increase of nearly 11% from the current level.
Overall, the transactions involving ARK Invest on that day and the governance changes at Tesla reflect two different but related forces in the market: fund managers are actively switching between chip manufacturers, while regulatory authorities are pushing to expand the range of investors who can actually vote. As the next round of financial reporting season and proxy voting season approaches, both developments will continue to attract attention from shareholders.
This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.
