Point72 cuts Nvidia stake by 94%, boosts Snowflake to $716M, and initiates $410M Texas Instruments position

During the quarter ending June 30, 2026, Point72 Asset Management executed substantial repositioning across its $90.68B reported 13F equity portfolio. The most notable reduction was in NVIDIA Corporation (NVDA), where the fund cut its position by 94% to $87.60M, down from $1.32B in the prior quarter. Additional reductions in semiconductor and mega-cap tech included Broadcom (AVGO), down 55% to $386.63M, Teradyne (TER), cut 80% to $221.94M, Analog Devices (ADI), lowered 71% to $131.10M, and Meta Platforms (META), trimmed 37% to $319.85M.

Conversely, the firm significantly scaled up several enterprise software and consumer positions. Point72 expanded its stake in Snowflake (SNOW) by 2,449% to $716.10M (up from $16.65M) and boosted Oracle (ORCL) by 188% to $499.82M. It also grew positions in Seagate Technology (STX) by 51% to $794.11M, MKS Instruments (MKSI) by 24% to $888.20M, Procter & Gamble (PG) by 106% to $633.92M, and Keurig Dr Pepper (KDP) by 1,319% to $456.54M.

Key new additions to the portfolio included Texas Instruments (TXN) with a $410.47M position, Carnival Corp ($264.38M), Atmos Energy ($234.49M), Flex Ltd ($207.28M), and CVS Health ($202.87M). On the exit side, Point72 fully liquidated previous holdings in Parker-Hannifin ($244.31M prior) and Ross Stores ($237.89M prior). Macro options activity saw an increase in SPDR S&P 500 ETF (SPY) puts to $1.16B and calls to $1.07B, alongside an 86% decrease in Invesco QQQ Trust put options down to $118.27M.

Position changes