Point72 AI Power Strategy Shifts: Reduces Holdings in Nvidia (NVDA.US) and Broadcom (AVGO.US), Initiates Position in Texas Instruments (TXN.US)

Jitong Finance APP has learned that, according to disclosures by the U.S. Securities and Exchange Commission (SEC), Point72 Asset Management, owned by billionaire Steve Cohen, has submitted its second quarter holdings report (13F) for the period ending June 30, 2026.

Statistics show that Point72’s total market value of holdings for the second quarter reached $90.7 billion, an increase of 16% from the previous quarter’s $78.1 billion. During the quarter, 1,064 new stocks were established, 1,327 increased, 845 cleared, and 1,461 reduced. The top ten holdings accounted for 11.21% of total market value.

Among the top five heavy positions, Credo Technology (CRDO.US) ranked first, with a market value of about $1.673 billion, accounting for 1.84% of the portfolio, and holdings decreased by 17.73% compared to the previous quarter. Credo is a semiconductor company focused on providing high-speed and high-energy-efficient connectivity solutions for data centers and artificial intelligence networks. Its stock price soared 190% in the second quarter.

S&P 500 Index Put Option (SPY.US,PUT) ranked second, with a market value of about $1.164 billion, contributing 1.28% to the portfolio, and holdings increased by 27.28% over the previous quarter.

Semiconductor lithography giant ASML (ASML.US) ranked third, with a holding value of about $1.103 billion, representing 1.22% of the portfolio, and holdings decreased by 1.78% compared to the previous quarter.

S&P 500 Index Call Option (SPY.US,CALL) ranked fourth, with a market value of about $1.068 billion, accounting for 1.18% of the portfolio, and holdings increased by 16.25% over the previous quarter.

Amazon (AMZN.US) ranked fifth, with a holding value of about $1.061 billion, representing 1.17% of the portfolio, and holdings decreased by 10.27% from the previous quarter.

It is worth noting that, among the top ten holdings, information technology stocks occupy eight spots, showing Point72's continued optimism for AI computing power and the semiconductor industry chain.

In terms of specific operations, the institution reduced its holdings of NVIDIA, Broadcom, and AMD, among other chip giants, in Q2, and extended its capital allocation to subdivided segments of the industry chain by establishing positions in analog chip giant Texas Instruments (TXN.US), electronics manufacturing service provider Flex (FLEX.US), power semiconductor manufacturer ON Semiconductor (ON.US), and AI server supplier Hewlett Packard Enterprise (HPE.US), forming a vertical layout from chip design and manufacturing to server hardware. The institution also liquidated its holdings in Clorox (CLX.US), Ross Stores (ROST.US), Costco (COST.US), Airbnb (ABNB.US), and other retail consumer stocks in Q2.

Looking at changes in holding proportions, the top five buys are: Snowflake (SNOW.US), Seagate Technology (STX.US), semiconductor equipment component supplier MKS Instruments (MKSI.US), beverage giant Keurig Dr Pepper (KDP.US), and Johnson & Johnson put options (JNJ.US,PUT).

The top five sells are: NVIDIA (NVDA.US), Nasdaq 100 put option (QQQ.US,PUT), Teradyne (TER.US), Broadcom (AVGO.US), and Analog Devices (ADI.US).