Steve Cohen Buys Mondelez International While Selling Big Tech Stocks
Billionaire investor Steve Cohen has been making significant changes to his Point72 Asset Management portfolio in Q1 2026. He sold large portions of stakes in major tech companies like Nvidia, Broadcom, and Taiwan Semiconductor. At the same time, he significantly increased his position in Mondelez International by over 11,600%, despite its modest revenue growth and declining earnings per share. Cohen's move toward Mondelez appears to be driven more by valuation than recent performance. The stock is trading well below its 2023 peak with a forward P/E ratio of 21.5. Analysts suggest Cohen may see the company’s defensive qualities as appealing in today’s market environment, especially given Buffett's caution about current investment risks. Mondelez could attract income-focused and risk-averse investors due to its strong dividend yield and consistent growth history since spinning off from Kraft. While some of Cohen’s sold tech stocks might outperform Mondelez long-term, the move suggests a strategic shift toward more stable sectors.
Tickers: $AVGO $MDLZ $NVDA $TSM
Topics: Broadcom Mondelez International Nvidia portfolio changes stock trading Taiwan Semiconductor