Cathie Wood Sells $28.7 Million of Alphabet, Adds to Meta

Cathie Wood sold $28.7 million worth of Alphabet stock this week while adding to her position in Meta Platforms, according to TheStreet, as Meta continues expanding its artificial intelligence efforts.

Wood's flagship Ark Innovation ETF gained 35.49% last year, outpacing the S&P 500's 17.88% return over the same period. So far this year, however, the fund is up 8.66% while the S&P 500 has climbed 11.85%, according to Yahoo Finance data.

Wood built her reputation after Ark Innovation ETF returned 153% in 2020, but the fund's volatility has also produced steep losses, including a drop of more than 60% in 2022. As of September 11, its five-year annualized return stood at negative 6.89%, compared with 11.42% for the S&P 500, according to Morningstar.

Morningstar analyst Amy Arnott's research found that Ark Innovation ETF wiped out nearly $5 billion in investor wealth over the decade ending in 2025, ranking it among the largest wealth destroyers in that period.