Cathie Wood of Ark Investment Management sold off two major positions last week despite their status as her favorites. Her investment strategy, focusing on emerging high-tech companies, has seen her funds outperform the market this year, with the Ark Innovation ETF up 54.5% year to date. However, this approach has also led to significant losses in the past.

Wood’s strategy has led to a five-year annualized return of 0.09% for the Ark Innovation ETF, significantly lower than the S&P 500’s 17.64% annualized return over the same period. Despite her bullish outlook on tech stocks, recent outflows of $1.5 billion from the Ark Innovation ETF show not all investors share her optimism.

Wood recently sold shares of Advanced Micro Devices (AMD) and Palantir (PLTR), valued at millions of dollars each. AMD’s stock has surged 58.3% in October following a partnership with OpenAI that could bring in tens of billions of dollars in annual revenue. Wedbush analyst Matt Bryson raised AMD’s stock price target to $270.

Palantir, which provides AI-driven data analytics software, has seen its stock rise 165% year to date. Wood has expressed strong confidence in Palantir, considering it a dominant force in the AI tech stack. Both Palantir and AMD remain key positions in the ARK Innovation ETF, with quarterly reports scheduled for release next week.

Read more at Yahoo Finance: Here are Cathie Wood’s latest moves.