ARK Invest’s Leading Holdings for Second Half 2026: Tesla (TSLA), AMD, and SpaceX

Key Takeaways

• Tesla ($349.5M), AMD ($282.9M), and SpaceX ($179.5M) emerged as ARK Invest’s three largest positions by the conclusion of H1 2026
• Only ARKX and ARKQ managed to outperform the S&P 500’s 9.34% first-half gains
• Shares of AMD climbed 6% following news that Japanese autonomous vehicle company Turing designated it as a strategic partner and committed 10% of AI training workloads to AMD hardware
• Goldman Sachs upgraded AMD’s price objective to $640, pointing to robust AI infrastructure and server CPU momentum
• ARK divested holdings in Trade Desk, Qualcomm, Airbnb, and several others while initiating stakes in Broadcom, Cerebras, and SpaceX

As the first half of 2026 drew to a close, Cathie Wood’s ARK Invest maintained significant exposure to three major technology names: Tesla, Advanced Micro Devices, and SpaceX. These three companies collectively represented approximately 22% of ARK’s disclosed equity positions across its suite of actively managed exchange-traded funds.

Tesla commanded the largest allocation with a stake valued at approximately $349.5 million, accounting for 9.4% of ARK’s total portfolio. The electric vehicle manufacturer announced second-quarter deliveries totaling 480,126 units, surpassing analyst projections. Additionally, Tesla broadened its Robotaxi operations to include Miami. The company’s complete second-quarter financial results are scheduled for release on July 22.

Tesla, Inc., TSLA

Baird’s equity analyst Ben Kallo maintained his Outperform stance on Tesla following the delivery announcement, setting a price objective at $522. Kallo characterized the delivery performance as significantly above expectations and highlighted impressive energy storage deployment figures.

The broader analyst community holds a Moderate Buy perspective on Tesla, derived from 10 Buy recommendations, 15 Hold ratings, and 3 Sell opinions. The consensus price forecast of $399.71 suggests potential downside of approximately 4.78% from present trading levels.

AMD’s Rising Profile

AMD secured the second-largest position in ARK’s holdings at roughly $282.9 million, representing 7.6% of portfolio assets. The semiconductor stock surged 6% after Turing, a Japanese autonomous driving technology firm, announced AMD as a strategic investment partner and revealed plans to migrate 10% of its artificial intelligence training operations to AMD processors.

Goldman Sachs equity analyst James Schneider elevated his AMD price target from $450 to $640 while maintaining a Buy recommendation. Schneider emphasized accelerating server CPU adoption and sustained AI infrastructure investment as key catalysts for growth.

A highly-ranked Motley Fool investor, positioned in the top 4% on TipRanks, suggested AMD retains potential for above-market returns. The analyst highlighted the emerging trend toward agentic AI applications, which could dramatically alter the traditional GPU-to-CPU ratio from 8:1 toward 1:1 — a transformation that would substantially benefit AMD’s EPYC server processor line.

AMD currently trades at a forward price-to-earnings multiple of 73.5x, significantly exceeding the information technology sector average of 22.2x. Despite rich valuation metrics, Wall Street maintains a Strong Buy consensus with 28 Buy ratings and 7 Hold recommendations. The average analyst price target stands at $515.69, modestly below current share prices.

SpaceX Enters Major Indices

SpaceX occupied the third position at approximately $179.5 million, constituting 4.8% of ARK’s portfolio value. The aerospace company completed its initial public offering on June 12 in what became a landmark market debut and quickly gained inclusion in the Russell 1000 index. SpaceX is scheduled to join the Nasdaq-100 on July 7, potentially triggering substantial buying from passive index funds.

Arete Research analyst Andrew Beale reaffirmed his Buy rating with a $401 price target — the most bullish projection among covering analysts. Beale anticipates the Starlink V3 satellite constellation will accelerate global broadband penetration and views satellite internet services, commercial launch operations, and artificial intelligence infrastructure as durable long-term growth drivers.

SpaceX garners a Moderate Buy consensus among analysts. The average price objective of $212.63 implies approximately 32.54% appreciation potential from its current valuation.

Portfolio Rebalancing Activity at ARK

During the first half of 2026, ARK established new positions in Broadcom, Cerebras Systems, Snowflake, Figma, and Alphabet. Simultaneously, the firm completely exited stakes in Trade Desk, Qualcomm, Airbnb, DraftKings, Pinterest, and Salesforce, along with several additional holdings.

Entering the second half of the year, ARK’s portfolio exhibits heavy concentration in Information Technology at 31.4% and Industrials and Aerospace at 31.9%. Consumer Discretionary represents 18.1% of assets, while Financials and Crypto holdings account for 11.4%.

Among ARK’s fund family, only ARKX and ARKQ exceeded the S&P 500’s 9.34% first-half performance, posting gains of 13.66% and 11.63% respectively. The flagship ARKK fund registered a modest 3.21% advance for the period.

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