Cathie Wood, chief of Ark Investment Management, frequently adjusts her top positions, adding to a holding when the stock falls and selling when it rises.

In the past week, she has sold shares of a popular tech stock that's been climbing this year.

Wood's funds have experienced a volatile ride lately, swinging from sharp losses to strong gains.

In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings - especially Tesla, her biggest position - slid amid growing concerns over the macroeconomy and trade policies.

Now, the Ark funds are making a strong comeback. As of Aug. 8, the flagship Ark Innovatio

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