Tesla is back on top in Cathie Wood's flagship ARK ETF as the famed money manager shakes up her largest holdings

• Tesla reclaimed the top spot among the holdings of Cathie Wood's flagship Ark Innovation ETF.
• The money manager sold nearly $42 million of Exact Sciences in the past week, booting it from the top position.
• ARKK is up 31% in the past month as investors wager high inflation is behind them.

Cathie Wood's ARK Invest sold nearly $42 million of Exact Sciences shares in the past week, pushing the medical diagnostic company from its perch as the fund's top holding and replacing it with an old favorite—Tesla.

The famed money manager purchased 13,243 Tesla shares at the start of the week. The electric vehicle maker comprises 8.83% of the fund's total holdings.  

Tesla has surged more than 22% in the past five days and is on pace for its largest monthly gain since last summer. Shares of the EV maker were up nearly 11% on Friday, trading around $178.