Billionaire fund manager drops $2.8 billion on Big Tech stocks

Billionaire money manager Steven Cohen went all-in connected tech, cannonballing successful a abstraction that’s been nether superior duress of late.

His hedge fund, Point72, disclosed a monolithic $2.8 billion successful caller positions crossed 5 AI giants, including $870 cardinal successful Taiwan Semiconductor(TSM),$510 cardinal successful Nvidia(NVDA), $492 cardinal successful Amazon (AMZN), $487 cardinal successful Equinix(EQIX), and $439 cardinal successful Broadcom (AVGO).

The signifier doesn’t consciousness random, either.

The monolithic caller bets are connected the AI proviso chain, and successful what’s been a relentless golden unreserved truthful far, Cohen conscionable bought the roads, the trucks, the shovels, and the onshore underneath it.

In a drawstring of caller 13F stories I’ve covered, the signifier of gathering astir Big Tech and AI has been beauteous consistent.

Ken Griffin’s Citadel swung the hardest, loading up connected Amazon banal to the tune of $2.52 billion portion raising its involvement successful Nvidia worthy astir $4 billion.

Also, Ray Dalio’s Bridgewater leaned into the AI core, adding $253 million to Nvidia portion gathering astir different AI infrastructure names similar Oracle and Micron.

David Tepper’s Appaloosa made representation elephantine Micron the header with a $285 million buy, portion Jim Simons’ Renaissance went adjacent deeper astatine that representation cycle, adding astir $520 million of Micron portion trimming different mega-cap players.

Additionally, Howard Lutnick’s Cantor Fitzgerald placed a hefty caller $126 million stake connected the much unexpected AI infrastructure plays successful Iren Limited.

Taken together, Cohen’s bets underscore a deliberate determination into the hardware, cloud, and data-center stack spearheading the AI boom.

• Market value: $89.4 cardinal (prior: $59.8 billion)

• Inflows (outflows) arsenic % of full marketplace value: +26.4%

• New purchases: 2,013 stocks

• Added to: 1,279 stocks

• Sold retired of: 414 stocks

• Reduced holdings in: 503 stocks

• Top 10 holdings concentration: 14.01%

• Turnover: 56.8%
  Source: WhaleWisdom

Those lines encapsulate Steven Cohen successful a nutshell. He has been relentlessly competitory portion ever hunting for an edge.

For the investing punditry, Cohen is simply a legendary hedge money manager who has efficaciously cemented his estimation archetypal astatine SAC Capital and present astatine Point72 Asset Management.

These modern, multi-strategy investing powerhouses person go magnets for capital, and, according to the latest reports, Point72 boasts a whopping $45.7 cardinal successful assets nether management.

More Fund Managers:

• Ray Dalio’s Bridgewater invests $253 cardinal successful large AI stock

• JPMorgan builds $2.93 cardinal involvement successful wellness attraction stock

• Jim Simons’ Renaissance drops $520 cardinal connected surging tech stock