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Point72 Asset Management is one of Wall Street’s most sophisticated investment funds. Founded by Steve Cohen after the closure of his fund SAC Capital in 2013, Point72 was built on a simple principle: combine human insight with data-driven edge to consistently find mispriced opportunities. Today, the firm manages over $30 billion across long/short equity, systematic strategies, and private markets.
Cohen, now a billionaire hedge fund titan and owner of the New York Mets, remains one of the most closely watched figures in finance. He’s also the real-life inspiration behind the hit show Billions, and his growing media presence has made him popular in both investing and pop culture.
Point72’s portfolio spans across high-growth tech, industrials, healthcare, and energy and aims to focus on strong catalysts and pricing inefficiencies rather than anchoring to any one theme. It’s designed to capture inflection points before the rest of the market catches on.
Below is a snapshot of Point72’s public equity portfolio as of March 31, 2025:
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Point72’s public equity portfolio is pretty evenly diversified across over 200 holdings, which is pretty typical for a hedge fund of its size. Below, we’ll break down the top five holdings and why they reflect Steve Cohen’s investing philosophy.
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Danaher (DHR)
Danaher is Point72’s largest public equity holding as of Q1 2025. The company operates a portfolio of science and technology businesses, with a focus on life sciences, diagnostics, and biotechnology tools.
Danaher’s business model centers on recurring revenue, high-margin consumables, and a disciplined acquisition strategy and business improvement system through its Danaher Business System (DBS). This gives the business a long-term growth runway as well as room for margin expansion.
Point72 increased its stake in Danaher by 135% in the last quarter, which shows that they still believe in this business, and they probably still think Danaher is cheap today, given that the stock is down 12% so far this year.
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Amazon (AMZN)
1.7% of portfolio | $599.5M position
Amazon is Point72’s second-largest position and reflects the firm’s interest in durable platforms with multiple growth drivers.
Amazon offers long-term growth potential across all three of its core segments: e-commerce, AWS, and advertising. E-commerce provides scale and customer reach, while AWS and advertising deliver high-margin cash flow that supports reinvestment and growth.
Cohen’s team appears focused on the infrastructure behind Amazon’s profitability. AWS continues to grow as one of the most valuable cloud platforms globally, and Amazon’s advertising business has become a major earnings driver with strong returns on capital.
The position reflects a view that Amazon can continue to expand margins, improve operating efficiency, and generate consistent long-term returns.
Microsoft (MSFT)
1.6% of portfolio | $551.6M position
Microsoft is Point72’s third-largest position and represents a bet on one of the most entrenched platforms in enterprise software.
The company generates consistent cash flow across its cloud, productivity, and operating system businesses, with Azure driving much of the recent growth. Its ecosystem of products creates strong customer lock-in and supports steady margin expansion.
The investment case centers on Microsoft’s ability to integrate AI into its existing offerings at scale. Azure is a key player in the cloud race, and tools like Copilot are embedding generative AI into everyday workflows.
Point72 decreased its position by 13% last quarter, which could signal decreased confidence in the business, or they’re simply trimming the position to roll some funds into better opportunities elsewhere.
Sea Limited (SE)
1.1% of portfolio | $398.5M position
Sea Limited is Point72’s fourth-largest holding and it’s perhaps one of Steve Cohen’s highest conviction picks as Point72 increased its stake in the stock by 41% last quarter.
Sea operates three major businesses across Southeast Asia with its e-commerce platform Shopee, its digital entertainment arm Garena, and its fintech division SeaMoney. Each segment targets high-growth, underpenetrated markets with large long-term potential.
The investment likely reflects Point72’s interest in platform companies with regional dominance and improving unit economics.
Shopee continues to lead in Southeast Asian e-commerce, while SeaMoney is expanding its reach across payments and lending.
As the company focuses on profitability after years of aggressive growth, Point72 appears to be positioning for operating leverage and long-term value creation in one of the world’s fastest-growing digital economies.
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Disney (DIS)
1.0% of portfolio | $364.9M position
Disney is Point72’s fifth-largest holding and one of the most recognizable names in global media. The company owns a portfolio of iconic brands spanning film, television, streaming, theme parks, and consumer products.
Point72’s position likely reflects confidence in Disney’s ability to stabilize and grow its direct-to-consumer business while continuing to generate steady cash flow from parks and content.
The return of Bob Iger as CEO has signaled a renewed focus on profitability and strategic clarity.
Last quarter, Point72 increased its stake in Disney by 19%, so it appears that Point72 is betting on the strength of Disney’s underlying assets and its ability to adapt in a shifting media landscape.
Information Edge, Tactical Flexibility, Scalable Process
Point72 runs a diversified public equity portfolio with exposure across sectors, styles, and time horizons. The firm blends deep fundamental research with quantitative tools to identify stocks with improving fundamentals and short-term catalysts.
Point72 has fairly high turnover and actively rotates capital based on earnings revisions, sentiment shifts, and valuation changes. Holdings like Microsoft, Amazon, and Sea Limited reflect areas where the team currently sees upside, but no single name dominates the portfolio.
Steve Cohen’s approach is designed for adaptability. The team focuses on identifying opportunities with a favorable risk-reward profile and acts decisively when the data supports a position.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
