ARK Invest reshapes portfolio with Figma buy and crypto sell-off

ARK Invest made selective moves in its portfolio last week, focusing on just three companies. The firm bought shares in Figma, Arcturus Therapeutics, and 10x Genomics while offloading stakes in several others. One notable sale included a significant reduction in its cryptocurrency-related holding, Circle Internet Group.

On March 20, ARK Invest purchased 337,381 shares of Figma, investing over $8.1 million. The design software company, though not publicly traded, has faced challenges since its $20 billion acquisition by Adobe collapsed in late 2023 due to regulatory hurdles. Despite reporting a 40% revenue increase in recent earnings, Figma's valuation has reportedly dropped sharply from its peak.

The firm also trimmed its exposure to other holdings. ARK sold 45,998 shares of Circle Internet Group, a cryptocurrency-related company, worth around $5.9 million from its ARKK and ARKW funds. Additional sales included positions in Teradyne, Bullish, Guardant Health, and Butterfly Network. The limited buying activity last week contrasts with ARK's broader strategy, as only three companies—Figma, Arcturus Therapeutics, and 10x Genomics—received fresh investments.

ARK Invest's recent trades highlight a cautious approach, with a focus on specific targets. The firm's purchase of Figma shares comes despite the company's valuation struggles following its failed Adobe deal. Meanwhile, the reduction in Circle Internet Group reflects a shift in its cryptocurrency-related allocations.