The global asset manager owned by billionaire Steve Cohen is currently undergoing a capital rotation strategy, completely divesting from several positions while initiating new investments.
According to Point72 Asset Management’s most recent 13F filing, the firm has sold off its entire stake in retail giant Walmart (WMT), disposing of all 1,941,836 WMT shares valued at $200.125 million in Q4 of 2025.
In addition, Cohen’s firm has liquidated all holdings in payments company PayPal (PYPL), selling 876,306 PYPL shares worth $58.765 million. Furthermore, Point72 has exited its investment in data streaming platform Confluent (CFLT), selling off all 17,206,434 CFLT shares valued at $340.687 million.
Meanwhile, Point72 has initiated a new position in asset management giant BlackRock (BLK) during the last quarter of the previous year. The firm acquired 168,495 BLK shares amounting to $180.346 million. Additionally, Point72 has purchased new stakes in payments leader Visa (V) and tech company Cisco (CSCO), accumulating 712,247 V shares worth $249.792 million and 3,946,782 CSCO shares valued at $304.020 million, respectively.
Aside from BLK, V, and CSCO, the firm has also established a new position in top-four bank Citigroup (C), purchasing 1,356,284 C shares worth $158.264 million.
Point72’s portfolio reveals that chipmaker Nvidia holds the top spot, with the firm owning $1.862 billion worth of NVDA shares, representing 2.1% of its portfolio. Taiwan Semiconductor, another chipmaker, follows closely behind with Point72 holding $1.417 billion in TSM shares, accounting for 1.6% of its portfolio.
Furthermore, Point72 has investments exceeding $1 billion in hyperscalers Amazon (AMZN) and Microsoft (MSFT).
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