Cathie Wood on Monday bought a stock she doesn’t trade very much — Microsoft MSFT, +0.17%.
The ARK Next Generation Internet ETF ARKW, +5.36% bought $11 million worth of Microsoft, selling the equivalent dollar amount of Endeavor Group EDR, +2.61%, the talent agency.
That’s the first purchase in that fund of Microsoft, according to the tracking service Cathie’s Ark, and now the 26th largest holding in a portfolio where Coinbase Global COIN, +12.51%, Block SQ, +4.39%, Roku ROKU, +6.63%, the Grayscale Bitcoin Trust GBTC, -0.22% and Tesla TSLA, +7.73% are the leading holdings.
Microsoft is becoming more closely associated with artificial intelligence after boosting its stake in OpenAI, the company behind the wildly popular ChatGPT, in January.
Microsoft shares fell 3% on Monday but have gained 14% this year, outperforming the S&P 500 SPX, +1.17%.
