In a significant portfolio adjustment, Steve Cohen's Point72 Asset Management completely divested its holdings in Microchip Technology Inc. (MCHP) during the second quarter of 2026. According to a 13F filing dated August 14, 2026, the firm sold all of its 2.32 million shares, which were previously valued at approximately $150.15 million. It is important to note that 13F filings disclose positions held at the end of a quarter, in this case, June 30, 2026, and do not reflect real-time trading activity.
This exit occurred during a period where Microchip reported strong financial results, beating analyst expectations for its second quarter and providing positive guidance for the third quarter, driven by robust demand in the data center and aerospace sectors. While Point72 has not publicly commented on the specific reasons for this trade, the move comes after reports of the firm trimming positions in some large technology stocks earlier in the year.