Billionaire Steve Cohen’s global asset manager is in the midst of a capital rotation, exiting several names entirely and opening new positions.
Point72 Asset Management’s latest 13F filing shows that the company dumped its stake in retail giant Walmart (WMT) and sold all 1,941,836 WMT shares worth $200.125 million in the fourth quarter of 2025.
Cohen’s asset manager also sold 100% of its position in payments company PayPal (PYPL). Point72 sold 876,306 PYPL shares worth $58.765 million. And the company dropped all its stakes in data streaming platform Confluent (CFLT), dumping 17,206,434 CFLT shares worth $340.687 million.
Meanwhile, Point72 opened a new position in asset management titan BlackRock (BLK) in the fourth quarter of last year. The company purchased 168,495 BLK shares for a consideration of $180.346 million. Point72 also bought new stakes in payments giant Visa (V) and technology company Cisco (CSCO). The company collected 712,247 V shares worth $249.792 million and 3,946,782 CSCO shares worth $304.020 million.
In addition to BLK, V and CSCO, the company opened a new position in top four bank Citigroup (C), snapping up 1,356,284 C shares worth $158.264 million.
Point72’s portfolio shows that chipmaker Nvidia tops the list as the company 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 owns $1.417 billion worth of 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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