Cathie Wood sells $11.6 million of surging Palantir stock

Published Aug 15, 03:07 PM UTC

Cathie Wood, CEO of Ark Investment Management, sold $11.6 million worth of Palantir Technologies shares on August 10, 12, and 13, 2026, trimming her position after the stock surged over 30% in the past month. The sale comes as her flagship Ark Innovation ETF (ARKK) has underperformed the S&P 500 in 2026, rising only 4.15% versus the index's 13.74% gain. Over the past five years, ARKK has delivered a -7.40% annualized return, compared to the S&P 500's 11.75%. Despite recent outflows of $2.8 billion from ARKK over the past year, Wood remains optimistic about AI's role in sustaining high corporate profits and productivity. She noted that U.S. corporate profits before tax are near multi-decade highs at 13.2% of GDP, partly due to AI adoption.