Star portfolio manager Cathie Wood’s Ark Investment Management filed its 13F holdings report for the fourth quarter on Feb. 4. As usual, there were many moves into and out of the investment management firm’s holdings.

Cathie Wood, head of Ark Investment Management, is known for making bold bets — but she’s not afraid to change course when the market proves her wrong. That’s what she did this week. She unloaded a tech stock that tumbled nearly 50% last year.

Cathie Wood and Ark Invest sold roughly $19.4 million worth of Palantir stock on February 11 and redirected funds toward defensive stocks.

Cathie Wood, chief of Ark Investment Management, usually targets tech stocks with high "disruptive" potential. She frequently adjusts her holdings around a company’s earnings, either increasing or trimming positions in response to financial results and market performances.