Point72 Asset Management, L.P.
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 47 quarters, returned +2.0% per quarter — versus +1.9% per quarter from simply owning every 13F stock. It beat that baseline in only 48.9% of quarters (excess t = 1.43, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 1978 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| CRDO | $1.7B | | TRIM −18% |
| 0QNI.L | $1.1B | | HOLD |
| AMZN | $1.1B | | TRIM −10% |
| MKSI | $888M | | ADD +24% |
| ANET | $873M | | TRIM −22% |
| STX | $794M | | ADD +51% |
| AMD | $772M | | TRIM −6% |
| TSM | $766M | | TRIM −14% |
| SNOW | $716M | | ADD ×25.5 |
| PG | $634M | | ADD ×2.1 |
| RTX | $626M | | ADD +61% |
| COF | $507M | | ADD +53% |
| ORCL | $500M | | ADD ×2.9 |
| MDLZ | $475M | | ADD +67% |
| KDP | $457M | | ADD ×14.2 |
| AMAT | $434M | | TRIM −65% |
| TXN | $410M | | NEW |
| CPNG | $389M | | ADD ×2.9 |
| HD | $389M | | HOLD |
| SPOT | $388M | | TRIM −8% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.