ARK Invest Trims Alphabet, Adds More Rocket Lab Stock
Cathie Wood's ARK Invest is making changes to its portfolio, trimming shares of Alphabet (NASDAQ:GOOGL) while adding more Rocket Lab (NASDAQ:RKLB) stock. According to recent trade files, ARK added $118.5 million in GOOG and $27 million in GOOGL as of July 31, but this latest move signals a reduction in holdings.
The change comes as Alphabet's Q2 2026 revenue reached $119.80 billion, up 24.23% year over year, with Google Cloud growth of 82% to $24.77 billion. Meanwhile, Rocket Lab reported Q2 2026 revenue of $234.07 million, a 62% increase from the same period last year.
Rocket Lab is positioning itself for future growth through its deal to acquire Iridium Communications and the development of its Neutron rocket, which is expected to launch in Q4 2026. The company's valuation reflects this promise, trading at $70.23 with a price-to-sales ratio of 58.