Billionaire fund manager drops $2.8 billion on Big Tech stocks
Billionaire fund manager Steven Cohen went all-in on tech, cannonballing in a space that’s been under serious duress of late.
His hedge fund, Point72, disclosed a massive $2.8 billion in fresh positions across five AI giants, including $870 million in Taiwan Semiconductor(TSM),$510 million in Nvidia(NVDA), $492 million in Amazon (AMZN), $487 million in Equinix(EQIX), and $439 million in Broadcom (AVGO).
The pattern doesn’t feel random, either.
The massive new bets are on the AI supply chain, and in what’s been a relentless gold rush so far, Cohen just bought the roads, the trucks, the shovels, and the land underneath it.
In a string of recent 13F stories I’ve covered, the pattern of building around Big Tech and AI has been pretty consistent.
Ken Griffin’s Citadel swung the hardest, loading up on Amazon stock to the tune of $2.52 billion while raising its stake in Nvidia worth roughly $4 billion.
Also, Ray Dalio’s Bridgewater leaned into the AI core, adding $253 million to Nvidia while building around other AI infrastructure names like Oracle and Micron.
David Tepper’s Appaloosa made memory giant Micron the headline with a $285 million buy, while Jim Simons’ Renaissance went even deeper at that memory cycle, adding nearly $520 million of Micron while trimming other mega-cap players.
Additionally, Howard Lutnick’s Cantor Fitzgerald placed a hefty new $126 million bet on the more unexpected AI infrastructure plays in Iren Limited.
Taken together, Cohen’s bets underscore a deliberate move into the hardware, cloud, and data-center stack spearheading the AI boom.
Point72’s latest 13F activity
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Market value: $89.4 billion (prior: $59.8 billion)
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Inflows (outflows) as % of total market value: +26.4%
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New purchases: 2,013 stocks
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Added to: 1,279 stocks
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Sold out of: 414 stocks
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Reduced holdings in: 503 stocks
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Top 10 holdings concentration: 14.01%
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Turnover: 56.8%
Source: WhaleWisdom
Who is Steven Cohen?
Those lines encapsulate Steven Cohen in a nutshell. He has been relentlessly competitive while always hunting for an edge.
For the investing punditry, Cohen is a legendary hedge fund manager who has effectively cemented his reputation first at SAC Capital and now at Point72 Asset Management.
These modern, multi-strategy investing powerhouses have become magnets for capital, and, according to the latest reports, Point72 boasts a whopping $45.7 billion in assets under management.
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