Cathie Wood-led Ark Investment Management on Friday snapped up 87,900 shares, worth about $6.29 million, in JD.com Inc (JD) on the dip. Shares of the company, a key rival to Alibaba Group Holding (BABA) in the e-commerce space in China, closed 2.56% lower at $71.62 on Friday.

The New York-based investment firm has been piling up shares in Alibaba rivals, some of which now account for a better part of its holdings compared to the Jack Ma-led company.

Wood’s firm deployed Ark Fintech Innovation ETF (ARKF) to buy JD.com shares on Friday, lifting ARKF’s holding to 1.8 million, worth about $132.82 million. JD.com ranks seventh among a portfolio of 43 stocks in ARKF.

On a consolidated basis, Ark holds 5.89 million shares, worth about $433.6 million, via the four ETFs. Ark Invest also holds shares of JD.com via Ark Space Exploration & Innovation ETF (ARKX), Ark Autonomous Technology & Robotics ETF (ARKQ), and Ark Next Generation Internet ETF (ARKW). 

The Beijing-headquartered JD.com runs one of the two massive B2C online retailers in China and is a major competitor to Alibaba-run Tmall. The investment firm also holds shares in JD.com’s supply chain arm JD Logistics listed on the Hong Kong exchange. 

Ark Invest has been shedding shares of Alibaba but still holds 424,428 shares, worth $89.8 million, via ARKX, ARKQ, and ARKF.  The popular investment firm also sold 34,135 shares, estimated to be worth about $17.1 million, in video streaming company Netflix Inc (NFLX). Netflix shares closed 0.49% higher at $500.77 on Friday.

The investment firm sold the shares of the company via the ARK Next Generation Internet ETF (ARKW). It also holds shares of the online streaming service via the Ark Space Exploration & Innovation ETF (ARKX). Together, ARKW and ARKX still hold 139,297 shares, worth about $69.4 million in Netflix. Ark’s other key sells on Friday included Galileo Acquisition Corp (GLEO) and buys included Blade Air Mobility Inc (BLDE).