Cohen's Point72 AI computing power layout changed: reduced holdings of Nvidia (NVDA.US), Broadcom (AVGO.US) and opened a warehouse for Texas Instruments (TXN.US)

The Zhitong Finance App learned that according to the US Securities and Exchange Commission (SEC) disclosure, Point72 Asset Management Company, owned by billionaire Steve Cohen (Steve Cohen), submitted a position report (13F) for the second quarter ending June 30, 2026.

Statistics show that the total market value of Point72's holdings in the second quarter reached US$90.7 billion, up 16% from US$78.1 billion in the previous quarter. During the quarter, 1,064 new stocks were opened, and 1,327 holdings were increased. At the same time, 845 stocks were liquidated and 1,461 holdings were reduced. The top ten positions accounted for 11.21% of the total market capitalization.

Among the top five major stocks, Credo Technology (CRDO.US) ranked first, with a market value of about US$1,673 billion, accounting for 1.84% of the portfolio. The number of holdings decreased by 17.73% compared to the previous quarter. Credo, a semiconductor company focused on providing high-speed, energy-efficient connectivity solutions for data centers and artificial intelligence networks, surged 190% in the second quarter.

Put options (SPY.US, PUT) ranked second in the S&P 500 index. The market value of positions was about US$1,164 million, accounting for 1.28% of the portfolio, and the number of positions increased 27.28% over the previous quarter.

Lithography giant ASML.US (ASML.US) ranked third, with a market value of about US$1.03 billion, accounting for 1.22% of the portfolio. The number of holdings decreased by 1.78% from the previous quarter.

Bullish options (SPY.US, CALL) ranked fourth in the S&P 500 index. The market value of positions was about US$1,068 billion, accounting for 1.18% of the portfolio, and the number of positions increased 16.25% over the previous quarter.

Amazon (AMZN.US) ranked fifth, with a market value of about US$1,061 billion, accounting for 1.17% of the portfolio. The number of holdings decreased by 10.27% compared to the previous quarter.

It is worth noting that individual IT stocks occupy 8 seats in the top ten holdings, showing that Point72 continues to be optimistic about AI computing power and the semiconductor industry chain.

In terms of operation, the agency Q2 reduced its holdings of chip giants such as Nvidia, Broadcom, and AMD, while also extending capital allocation to industry chain segments, building warehouses for analog chip giant Texas Instruments (TXN.US), electronics manufacturing service provider Flex.US (FLEX.US), power semiconductor manufacturer ON.US (ON.US), and AI server supplier HPE.US (HPE.US), etc., forming an in-depth layout from chip design and manufacturing to server hardware. The agency also cleared retail consumer stocks such as CLX.US (CLX.US), ROST.US (COST.US), and Airbnb (ABNB.US) in Q2.

Judging from changes in position ratios, the top five buying targets were: 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 selling targets were Nvidia (NVDA.US), NASDA-100 put options (QQQ.US, PUT), TER.US (TER.US), Broadcom (AVGO.US), and ADI.US (ADI.US).