Meta (META.US) eventually succumbed to its fate, and "Cathie Wood" surprisingly reduced her position.

"Wood" Casey Wood's Ark Investment Management LLC is trimming its Meta (META.US) position for the first time in nearly a year, further signaling a weakening of the momentum for large-cap tech stocks in the U.S.

Data from Ark Investment Management LLC compiled by Bloomberg shows Wood's flagship fund, the Ark Innovation ETF, sold 12,595 shares of Meta on March 17 and another 2,160 on Tuesday. It's the first such sale by the firm since at least March 2021.

As of Dec. 31, the social media company was held by Wood's funds in excess of 460,000 shares, and they had been buying throughout most of last year.

Wood's selling underscores the pressure on the so-called Magnificent Seven, which had powered the U.S. stock market higher but whose recent gains have been weakening. Wood is known for her bold bets on disruptive technology, and she became a star in the investment world in 2020 and early 2021 with the high returns of her flagship fund.

Meta's stock turned negative for the year on Tuesday, becoming the last of the Magnificent Seven to lose its gains since the start of the year. Investors have sold the stock amid concerns about President Donald Trump's tariff policies and competition from Chinese startup DeepSeek in the artificial intelligence arena.

The Bloomberg Magnificent Seven Index, which tracks Apple Inc., Microsoft Corp., Nvidia Corp., Amazon.com Inc., Tesla Inc., Alphabet Inc. and Meta, has fallen 16% this year.