Cathie Wood, chief investment officer at ARK Invest, sold over 38,000 Palantir Technologies shares ahead of the AI-driven data analytics firm’s earnings report. The sales were concentrated mainly in ARK’s flagship ETF, ARKK.

ARK Invest has been reallocating capital from Palantir to other assets like Bullish, a crypto exchange operator, with Bullish shares purchased across multiple ARK ETFs. The investment firm is also increasing its positions in companies like Beam Therapeutics while trimming its exposure to Palantir.