Steve Cohen Buys Mondelez International While Selling Big Tech Stocks
Billionaire investor Steve Cohen, through his Point72 Asset Management hedge fund, significantly reduced holdings in major tech stocks like Nvidia, Broadcom, and Taiwan Semiconductor during the first quarter of 2026. At the same time, he made a large purchase in Mondelez International (MDLZ), increasing its stake by over 11,600%. While Cohen's move into consumer staples may reflect defensive positioning amid market uncertainty, Mondelez has shown modest revenue growth and declining earnings per share recently. Mondelez’s stock is currently trading at a forward P/E ratio of 21.5 and offers a dividend yield of around 3.2%, which could appeal to income-focused investors. The company holds leading global market shares in biscuits, chocolates, and snack bars, suggesting resilience during economic fluctuations. Although Cohen's tech sell-offs may signal shifting priorities or risk management strategies, the long-term performance of these sold stocks remains uncertain compared to Mondelez.
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