In a significant portfolio shift, Steve Cohen's Point72 Asset Management reduced its holding in NVIDIA (NVDA) by 94.23% during the second quarter of 2026. According to a quarterly report filed with the SEC, which discloses positions as of June 30, 2026, the firm's stake was cut from 7.58 million shares down to just 437,800. This trade reduced the reported value of their NVIDIA position from $1.32 billion to $87.6 million.
Investors should note that 13F filings are released with a delay, meaning this trade occurred sometime between April 1 and June 30, 2026. The firm has not publicly commented on the reason for this substantial reduction. The move is notable as it marks a significant decrease in exposure to one of the market's leading AI-related stocks.