Billionaire Steve Cohen Is Buying This Overlooked Stock While Dumping Big Tech
This successful hedge fund manager seems to have had a snack craving in Q1.
Overview
Steve Cohen amassed a net worth of roughly $23 billion by making big moves. He's still at it -- as evidenced by the major changes in his Point72 Asset Management hedge fund's portfolio in recent months.
Point72's 13F filing for the first quarter of 2026 revealed that Cohen is dumping big tech. The billionaire sold 24% of his hedge fund's stake in Nvidia (NASDAQ: NVDA), 21% of its position in Broadcom (NASDAQ: AVGO), and 60% of its stake in Taiwan Semiconductor (NYSE: TSM).
Details
However, Cohen didn't just sell in Q1. He loaded up on several stocks, including one that many investors might overlook -- Mondelez International (NASDAQ: MDLZ).
Source
Originally published at www.fool.com.
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