Point72 under Cohen adjusts its AI computing layout: reduces holdings in NVIDIA and Broadcom, establishes positions in Texas Instruments
Point72 submitted its Q2 position report as of June 30, with a total market value of $90.7 billion, a quarter-on-quarter increase of 16%. The fund significantly adjusted its AI computing layout, reducing its holdings in NVIDIA and Broadcom while establishing a position in Texas Instruments. The top five holdings include Credo Technology, S&P 500 put/call options, ASML, and Amazon, with information technology stocks occupying 8 seats in the top ten holdings, indicating its continued high allocation to the technology sector
According to the disclosure by the U.S. Securities and Exchange Commission (SEC), billionaire Steve Cohen's Point72 Asset Management has submitted its second-quarter holdings report (13F) for the period ending June 30, 2026.
Statistics show that Point72's total holdings market value in the second quarter reached $90.7 billion, an increase of 16% from the previous quarter's $78.1 billion. The firm established positions in 1,064 stocks during the quarter, increased holdings in 1,327 stocks, while liquidating 845 stocks and reducing positions in 1,461 stocks. The top ten holdings accounted for 11.21% of the total market value.
In the top five holdings, Credo Technology (CRDO.US) ranked first, with a holding market value of approximately $1.673 billion, accounting for 1.84% of the portfolio, and the number of shares decreased by 17.73% compared to the previous quarter. Credo is a semiconductor company focused on providing high-speed, energy-efficient connectivity solutions for data centers and AI networks, and its stock price surged 190% in the second quarter.
The S&P 500 put options (SPY.US, PUT) ranked second, with a holding market value of approximately $1.164 billion, accounting for 1.28% of the portfolio, and the number of shares increased by 27.28% compared to the previous quarter.
ASML (ASML.US), a leader in lithography machines, ranked third, with a holding market value of approximately $1.103 billion, accounting for 1.22% of the portfolio, and the number of shares decreased by 1.78% compared to the previous quarter.
The S&P 500 call options (SPY.US, CALL) ranked fourth, with a holding market value of approximately $1.068 billion, accounting for 1.18% of the portfolio, and the number of shares increased by 16.25% compared to the previous quarter.
Amazon (AMZN.US) ranked fifth, with a holding market value of approximately $1.061 billion, accounting for 1.17% of the portfolio, and the number of shares decreased by 10.27% compared to the previous quarter.
Notably, among the top ten holdings, eight are in the information technology sector, indicating Point72's continued optimism about AI computing power and the semiconductor supply chain.
In terms of specific operations, the firm reduced its positions in chip giants such as NVIDIA, Broadcom, and AMD in Q2, while extending its capital allocation to segmented areas of the supply chain, establishing positions in chip giant Texas Instruments (TXN.US), electronic manufacturing services provider Flex (FLEX.US), power semiconductor manufacturer ON Semiconductor (ON.US), and AI server supplier Hewlett Packard Enterprise (HPE.US), forming a deep layout from chip design and manufacturing to server hardware. The firm also liquidated its positions in retail consumer stocks such as Clorox (CLX.US), Ross Stores (ROST.US), Costco (COST.US), and Airbnb (ABNB.US) in Q2 From the changes in holding ratios, the top five purchased stocks are: Snowflake (SNOW.US), Seagate Technology (STX.US), semiconductor equipment parts supplier MKS Instruments (MKSI.US), beverage giant Keurig Dr Pepper (KDP.US), and Johnson & Johnson put options (JNJ.US, PUT).
The top five sold stocks are: NVIDIA (NVDA.US), Nasdaq 100 put options (QQQ.US, PUT), Teradyne (TER.US), Broadcom (AVGO.US), and Analog Devices (ADI.US).
