In this text, we’ll check out billionaire Steve Cohen’s high know-how shares. If you wish to see extra of billionaire Steve Cohen’s high know-how shares, go on to Billionaire Steve Cohen’s Top 5 Technology Stocks.

Billionaire Steve Cohen is the founding father of Point72 Asset Management, a world asset supervisor that makes use of discretionary lengthy/quick fairness, systemic and macro investing methods. Previously, Cohen based an analogous agency referred to as SAC Capital that used each basic and quantitative evaluation primarily based methods.

Given the success of SAC Capital and Point72 Asset Management, Steve Cohen is likely one of the richest males on the earth with a web price of $12.8 billion.

Steve Cohen was born in New York and graduated from the University of Pennsylvania’s Wharton School with a level in economics. Later Cohen labored as an choices dealer at a brokerage referred to as Gruntal & Co earlier than he began SAC Capital Advisors in 1992. Given a historical past of sturdy returns, Cohen was capable of cost charges on some funds as excessive as 3 p.c of belongings and 50 p.c of earnings versus the normal 2 p.c of belongings and 20 p.c of earnings.

Due to a lawsuit, Cohen needed to pay a nice and convert SAC Capital to a household workplace which he renamed Point72 Asset Management. In addition to personal a number of shares by way of Point72 Asset Management, Cohen owns a majority stake within the New York Mets.

In phrases of Point72 Asset Management’s efficiency in 2022, it is possible that the fund is up this 12 months as Bloomberg Billionaires Index exhibits that Cohen’s web price has elevated 16.4% 12 months thus far as of November 19, 2022. According to Bloomberg, $9.14 billion of Cohen’s $12.8 billion complete web price is in Point72 Asset Management.

Top Tech Positions for Point72 Asset Management

In phrases of Point72 Asset Management’s 13F portfolio, it appears Cohen is not holding as many blue chip tech shares amongst its high 10 tech positions as another high funds are. Companies like Apple, for instance, do not even make the checklist amongst Cohen’s high 10 tech shares. Meanwhile, different shares like Amazon do not account for a lot of the fund’s complete 13F fairness portfolio as they do within the S&P 500 index.

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Meanwhile, some shares which have fallen considerably 12 months thus far have made it into Cohen’s high 5 tech positions. Given Point72 Asset Management is a buying and selling agency, it won’t maintain on to positions for very lengthy.

2022 has been a difficult 12 months for the broader markets given excessive inflation has triggered the Federal Reserve to boost rates of interest considerably and the S&P 500 index has declined by 17.3% 12 months thus far consequently. Given development shares have been affected by the market decline, many tech shares have additionally declined 12 months thus far. If financial information fails to satisfy expectations, there might be additional draw back. Given the uncertainty, it might be a good suggestion for long run buyers to personal a effectively diversified portfolio of shares throughout many alternative sectors.

Methodology

For our checklist of Billionaire Steve Cohen’s Top 10 Technology Stocks, we took 10 tech shares from Steve Cohen’s Point72 Asset Management’s high fairness positions in keeping with 13F filings on the finish of Q3 2022 and ranked them primarily based on the fund’s stake within the shares at the moment.

Billionaire Steve Cohen’s Top 10 Technology Stocks

10. Oracle Corporation (NASDAQ:ORCL)

Point72 Asset Management’s Stake Value as of 9/30: $183,651,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.73%

Point72 Asset Management greater than doubled its shares in database and enterprise software program big Oracle Corporation (NASDAQ:ORCL) in Q3 to finish the quarter with a place price over $183 million. Since September 30, Oracle Corporation (NASDAQ:ORCL) has carried out effectively because the inventory has rallied from $61.07 per share to $79.73 as of 11/19 given the broader market rally. On 10/21, Michael Turits of KeyBanc upgraded the inventory to ‘Overweight’ from ‘Sector Weight’ and set a $80 worth goal. In phrases of EPS estimates, analysts count on ORCL to earn $4.75 in 2022, $4.92 in 2023, $5.58 in 2024, and $6.33 in 2025.

9. Analog Devices, Inc. (NASDAQ:ADI)

Point72 Asset Management’s Stake Value as of 9/30: $198,235,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.79%

Steve Cohen’s fund raised his share rely in semiconductor maker Analog Devices, Inc. (NASDAQ:ADI) by 149% in Q3 to finish September with a stake worth of just about $200 million. Although the corporate is dealing with headwinds given slowing demand within the auto and industrial sector, analysts estimate Analog Devices, Inc. (NASDAQ:ADI) will earn $9.52 per share in 2023 and $10.31 per share in 2024 versus its 2021 EPS of $6.42. If it might enhance earnings per share as anticipated, there’s a respectable likelihood Analog Devices, Inc. (NASDAQ:ADI) may enhance its quarterly dividend of $0.76 per share.

8. Amazon.com, Inc. (NASDAQ:AMZN)

Point72 Asset Management’s Stake Value as of 9/30: $207,678,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.82%

With Point72 Asset Management’s stake worth of over $207 million on the finish of Q3, e-commerce and cloud computing big Amazon.com, Inc. (NASDAQ:AMZN) is billionaire Steve Cohen’s eighth largest 13F fairness tech place. Given how massive Amazon.com, Inc. (NASDAQ:AMZN) is, Point72 Asset Management is definitely underweight the inventory because it accounts for 0.82% of the fund’s 13F portfolio versus Amazon.com, Inc. (NASDAQ:AMZN)’s 4.05% weight within the S&P 500. Given greater inflation, development is slowing for Amazon.com, Inc. (NASDAQ:AMZN). In phrases of This fall steerage, Amazon.com, Inc. (NASDAQ:AMZN) expects gross sales development of two% to eight% 12 months over 12 months, which might be a considerable slowdown from Q3’s 15% development. Although Amazon is factoring in a 4.6% unfavorable influence from international change charges, the low finish to center a part of the vary nonetheless signifies softening of demand.

Diamond Hill Capital Management commented on Amazon.com, Inc. (NASDAQ:AMZN) in a Q2 2022 investor letter,

7. Microsoft Corporation (NASDAQ:MSFT)

Point72 Asset Management’s Stake Value as of 9/30: $222,971,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.89%

Microsoft Corporation (NASDAQ:MSFT) ranks #7 on our checklist of Billionaire Steve Cohen’s Top 10 Technology Stocks given Point72 Asset Management’s stake worth of just about $223 million on the finish of Q3. Like Amazon, Point72 Asset Management is arguably underweight the inventory as Microsoft Corporation (NASDAQ:MSFT) accounts for 0.89% of the fund’s 13F portfolio versus Microsoft Corporation (NASDAQ:MSFT)’s 5.6% weight within the S&P 500. If the financial system slows greater than anticipated, demand for brand new computer systems won’t be as sturdy. As a end result, demand for Microsoft’s laptop working programs would possibly soften.

6. Arista Networks, Inc. (NYSE:ANET)

Point72 Asset Management’s Stake Value as of 9/30: $223,286,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.89%

Point72 Asset Management inched up its share rely in laptop community maker Arista Networks, Inc. (NYSE:ANET) by 5% within the third quarter to finish Q3 with a place of over $223 million. On November 7, Sami Badri of Credit Suisse raised his worth goal to $140 from $119 and stored a ‘Neutral’ ranking on Arista Networks, Inc. (NYSE:ANET) after attending the corporate’s 2022 analyst day. Shares of Arista Networks, Inc. (NYSE:ANET) are down simply 5.75% 12 months thus far versus the NASDAQ index’s decline of just about 30% 12 months thus far.

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Disclosure: None. Billionaire Steve Cohen’s Top 10 Technology Stocks is initially revealed on Insider Monkey.