"If we saw Lucid and Rivian getting into the autonomous world, especially Rivian ... that might be more interesting," Cathie Wood told CNBC.
"We think the benchmarks are where the big risks are long-term because they are filling up with value traps," Cathie Wood said.
Cathie Wood's Ark funds bought the dip in Palantir shares this week, when the data analytics firm hit five-month lows.
Ark's exchange-traded funds have been shedding Tesla stock since the start of September, when its shares began an ascent.
The star stockpicker of 2020 loaded up on shares of Robinhood after the trading app's earnings and cashed in on some of her Tesla stock.
During an appearance at the Milken Institute conference, Wood also revealed what she thinks will be the "big, new frontier" in investing.
"I really do think that the policymakers in China are beginning to play with fire," Cathie Wood said, according to Reuters.
Wood's Ark Innovation ETF sold more than 98,000 shares in the crypto exchange, worth about $25 million as of Monday's closing price.
Ark jumped in as Gingko's stock slid after short-seller Scorpion Capital published a report bashing its business model.
Wood began shedding her Nintendo stake in July, around the time the game console maker said it had no plans for models beyond the OLED.
Three of Cathie Wood's ETFs cumulatively sold more than 340,000 Tesla shares Tuesday. Yet, all three funds still have Tesla as their top holding.
The Twitter bet reflects Wood's thinking that regulatory issues for digital assets will be manageable.
"The system has been so good from an execution point of view for the end investor," Wood said about Robinhood's payment-for-order flow.
Wood's Ark Innovation ETF bought roughly $45.5 million while her ARK Next Generation Internet ETF purchased around $11 million, a daily update shows.
The star stock-picker's fund bought about 165,000 American Depositary Receipts in the e-commerce group on Monday.
Jeremy Grantham, Bill Miller, Charlie Munger, and Steve Cohen's portfolios were potentially hit by Alibaba's plunging stock price as well.
Burry's Scion Asset Management bought more bearish put options on Tesla stock and revealed puts on Wood's Ark Innovation ETF.