The global asset manager owned by billionaire Steve Cohen is in the midst of a capital rotation, fully exiting multiple names while opening new positions.
Point72 Asset Management’s latest 13F filing shows that the firm dumped its stake in the retail giant Walmart (WMT), selling all 1,941,836 WMT shares worth $200.125 million in Q4 of 2025.
Cohen’s asset management firm also unloaded 100% of its position in the payments firm PayPal (PYPL). Point72 sold 876,306 PYPL shares valued at $58.765 million. And the firm dropped all of its holdings in the data streaming platform Confluent (CFLT), dumping 17,206,434 CFLT shares worth $340.687 million.
Meanwhile, Point72 opened a new position in the asset management titan BlackRock (BLK) in Q4 of last year. The firm bought 168,495 BLK shares to the tune of $180.346 million. Point72 also bought new stakes in the payments giant Visa (V) and the tech company Cisco (CSCO). The firm accumulated 712,247 V shares worth $249.792 million and 3,946,782 CSCO shares valued at $304.020 million.
On top of BLK, V and CSCO, the firm opened a new position in the top-four bank Citigroup (C), gobbling up 1,356,284 C shares worth $158.264 million.
Point72’s portfolio shows that the chipmaker Nvidia is at the top of the list, as the firm owns $1.862 billion worth of NVDA shares, representing 2.1% of its portfolio. Taiwan Semiconductor, another chipmaker, comes in at number two. The asset manager holds $1.417 billion in TSM shares, accounting for 1.6% of its portfolio.
Point72 also owns more than $1 billion in shares of hyperscalers Amazon (AMZN) and Microsoft (MSFT).
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