cathie woods ark invest on thursday disposed off a chunk of shares of legacy automaker general motors corp gm what happened ark through its ark autonomous technology  robotics etf arkq sold 72519 shares of gm valued at 285 million based on thursdays closing price of 3926 ark first took a position in gm in may 2022 when it bought 158187 shares of the automaker the fund boosted its stake in the legacy automaker over the year and the purchases were as follows updated arkqs holdings show that the fund now owns 303735 shares valued at 1193 million the stock accounts for 105 of the exchangetraded funds portfolio tesla inc tsla is the funds top holding and makes up 1393 of the portfolio arkq has liquidated about 25 of the gm shares it acquired in 2022 see also best auto manufacturer stocks why its important gm is a distant second to tesla in the us electric vehicle market but the company has adopted an allout strategy on transitioning to evs the company has exposure to autonomous driving technology through its cruise subsidiary cruise develops autonomous car technology and is testing a robotaxi service incidentally much of ark’s future valuation of tesla is premised on the ev pioneer’s yettobelaunched robotaxi service gm ended thursday’s session up 008 at 3926 while tesla plunged 974 to 26290 according to benzinga pro data check out more of benzinga’s future of mobility coverage by following this link read next cathie wood’s ark invest piles taiwan semiconductor shares sells stock of this tesla rival