Cathie Wood’s ARK Invest bought $529.7 million of SpaceX stock on its June 12 IPO debut and sold Tesla shares the same day. According to BeInCrypto, ARK purchased 3.29 million SpaceX shares at the $135 IPO price, with the stake valued at $529.7 million at the close after the stock surged 19%.

ARK also trimmed holdings in Tesla, Advanced Micro Devices, Rocket Lab, Roku, and Baidu. SpaceX disclosed an accumulated deficit of $41.3 billion as of March 31, and said it has never paid a dividend and does not plan to in the foreseeable future.