Cathie Wood’s Ark Invest purchased approximately $9.1 million of Kratos Defense & Security Solutions stock in July. The defense firm now ranks as the tenth largest holding across all Ark ETFs. Ark’s total position in the company currently exceeds $110 million.
The investment follows a year-to-date stock decline of over 33%. Kratos specializes in drones, satellite technology, and counter-drone systems. The company secured multiple defense contracts this year.
Management raised full-year guidance for revenue and adjusted EBITDA in May. Analysts view the firm as a primary player in the future of drone warfare.