ARK Invest committed about $44.5 million to Rocket Lab and $37.4 million to Block during the latest growth-stock pullback, while reducing holdings in Palantir and AMD. The purchases point to a reallocation toward companies with significant execution catalysts ahead rather than simply broader risk-taking. Rocket Lab’s 705,102-share purchase followed a roughly 58% decline in RKLB from its May 27 closing high of $150.23 to the low-$60s. The company reported record second-quarter revenue of $234 million, a 62% year-over-year increase, and a record $2.36 billion backlog, alongside more than $437 million in additional launch contracts. Its main longer-term test is Neutron, a medium-lift rocket intended to compete more directly with SpaceX’s Falcon 9, with delivery to the launch pad targeted for the fourth quarter of 2026. Block adds exposure to payments and crypto infrastructure through Square, Cash App, Afterpay and its Bitcoin businesses. It reported $3.17 billion in second-quarter gross profit, up 25%, and raised its full-year 2026 gross-profit outlook to $12.51 billion. ARK’s purchase reversed earlier reductions in Block as capital moved toward Circle and other crypto-linked names. The firm also sold about 139,456 Palantir shares worth roughly $26 million on Aug. 31 and reduced AMD exposure. The investment case now depends on Neutron execution and Block’s ability to turn stronger Cash App growth and restructuring into sustained earnings expansion.