Cathie Wood has maintained sizable positions in crypto-linked stocks through her flagship ARKK fund even as roughly $3 trillion has been wiped from the S&P 500 since its June 2 peak, according to data cited by The Kobeissi Letter.

According to the latest portfolio disclosure from Ark Invest, the firm’s flagship Ark Innovation ETF (ARKK) continues to hold significant exposure to cryptocurrency and digital finance companies despite ongoing weakness across risk assets.

The allocation comes as investors contend with a stock market pullback, pressure in crypto markets, and uncertainty surrounding a potential record-breaking SpaceX public offering.