What is ARK's sell discipline?

ARK will trim or add to positions to (i) take advantage of opportunities created by short-term market actions or market sentiment; (ii) provide liquidity to invest in companies in which ARK has relatively more confidence; or (iii) fund names that ARK believes offer more market opportunity relative to current price.

ARK uses its own scoring system to value companies and monitor the underlying investment thesis. Dependent on a variety of factors, ARK will sell a company if it believes that a disruptor has become disrupted itself, or that it is no longer on the leading edge of fast-moving industries or innovation.

Note: This only applies to ARK’s actively managed ETFs. The index ETFs are designed to track an index.