Steve Cohen's $2 Billion Move: Why His 5 Biggest Buys Deserve a Closer Look

Point72 Asset Management , running roughly $60 billion , is one of the most watched hedge funds; its Q3 2025 13F shows about $2 billion poured into just five names in one quarter. Texas Instruments is the new position while Snowflake, Keurig Dr Pepper, Oracle and Procter & Gamble were lifted 300% to about 2,500% , taking total holdings from around $320 million to well over $700 million . The host in the video ranks them from his own valuation lens and puts Oracle on top; we cross-checked the figures against company reports and press releases and unpack the growth versus valuation tension in each case.

Snowflake: Unifying Scattered Data Under One Roof

Snowflake (SNOW) is the biggest lift — the stake grew roughly twenty-five-fold , pushing total ownership above $700 million with more than half a billion added in the quarter. Its Data Cloud pulls together data siloed across Amazon and Microsoft clouds and legacy servers into one secure place — like moving scattered filing cabinets into one smart vault. On top sits Cortex AI : one assistant helps non-technical staff summarize meetings, pull answers from email and chat, extract contract details and track sales trends, another helps developers with coding. Per the video, the first runs in about 6,000 accounts , the second in over 9,100 ; the flow is 1) gather, 2) unify, 3) query with AI, now reaching everyday work.

Financially the picture is re-accelerating: product revenue near $1.49 billion, up about 37% year over year , beating expectations, net revenue retention at 126% and 828 large customers spending over $1 million per year , with existing customers spending 26% more than a year ago. Management sees total addressable market doubling by 2031 . Yet the stock is volatile, valuation sits hundreds of percent above the sector median and competition from Amazon, Microsoft, Google plus fast-shifting AI cloud architecture makes picking the long-term winner hard. The host keeps Snowflake in the middle, and similarly I find the hyperscaler basket more diversified and safer at this price.

Keurig Dr Pepper: An $18 Billion Coffee Bet and a Split Plan

Keurig Dr Pepper (KDP) saw an increase of over 300% , about $384 million added to reach over $457 million total — notable after a decade of share-price suppression. The owner of Dr Pepper, Snapple, Canada Dry, A&W plus the Keurig brewing system and K-Cup footprint in tens of millions of homes has seen strong historical execution but a flat to negative five-year price. As profits kept growing, valuation fell well below its five-year average and the sector , lifting dividend yield to near 3% . The catalyst is the roughly $18 billion deal for Dutch coffee giant JDE Peet's , which includes Peet's Coffee ; per the video, consolidated sales jumped near 75% year over year last quarter while earnings per share rose double digits .

The confusing part starts after the deal: KDP plans to gather all coffee brands and spin them into a separate company , leaving the legacy beverage unit as its own stock. Focus can help, but in food and beverage this feels like slicing an already narrow pie thinner. I tend to prefer the whole conglomerate for its too-big-to-fail cash flow to swallow smaller rivals and fund new brands — exactly what PepsiCo does, with a more diversified mix and a larger, longer-growing dividend . For KDP I would wait until the two separate valuations become clear, after stripping out the new coffee growth and repricing each leg.

Texas Instruments: The Quiet Analog Layer of AI Infrastructure

Texas Instruments (TXN) is the new $340 million bet. After an early-year surge the stock gave back about a quarter from the highs and sits roughly flat over five years , with the latest dip tied to Q3 guidance where sales are expected just shy of consensus because price hikes land in Q4. TI does not chase Nvidia or AMD on the fastest accelerators; it dominates analog chips — the power-management middle layer that takes grid power and keeps thousands of power-hungry AI processors from overheating, like a quiet traffic officer for electricity. Demand has surged: sales up 23% , earnings per share up 52% , data-center-related sales doubling year over year ; the catalog spans over 80,000 products to about 100,000 customers , funding $6.5 billion of free cash flow in the past 12 months. While hyperscalers are pouring cash into AI, TI cut capital spending by 60% to about half a billion last quarter; the cash funds a 2%+ dividend grown for over two decades .

The brake is valuation , trading well above the sector on most multiples while the business is cyclical and carries high fixed costs for its own fabs. A sharp upside from here is harder to expect, and with many chip and AI names already in the portfolio the diversification benefit is thin. That is why the host puts TXN between the first two on interest alone , bumping Snowflake to second and leaving KDP lower; I share the view — cash and data-center momentum are solid, but price tempers enthusiasm.

Oracle: From Legacy Giant to Hyperscaler and a $664 Billion Backlog

Oracle (ORCL) is the near-tripling , more than $300 million added. The legacy giant's reinvention into a top-tier hyperscaler is visible in the latest report where sales and profit each jumped over 30% , led by cloud infrastructure (IaaS) up more than 121% . The bigger story is the future: remaining performance obligations (RPO) — signed but not yet delivered contracts — at about $664 billion , roughly nine times last year's sales and up about 46% sequentially, a mind-blowing backlog. Its proprietary networking that links thousands of Nvidia and AMD GPUs faster than legacy fabrics draws xAI, Meta and OpenAI to its infrastructure, like widening a highway to let AI models train at blazing speed.

The market's sour tone comes from the same backlog: a large share tied to a single customer, OpenAI , and the build-out consuming nearly all free cash flow , raising leverage concerns. Still, the long-term setup looks manageable and valuation sits well below sector medians, over 50% cheaper on PEG . That is why the host ranks Oracle number one and says he is buying; I lean similar — if the customer concentration is recognized and priced , Oracle offers the most compelling risk-reward among the five.

Procter & Gamble: Seven Decades of Dividend and Limited Growth

Procter & Gamble (PG) is the doubled bet, about $320 million added. The owner of Tide, Crest, Gillette, Pampers, Dawn fits the defensive powerhouse label; selling everyday essentials gives strong pricing power and fairly steady growth every year. The result is an uptrend stock that rarely dips and a dividend grown for seven straight decades , among the longest streaks anywhere. Yet growth is low single digits , the price has been flat for years and valuation sits at about twice the sector despite slow movement; yield is just under 3% . The host notes he already owns PepsiCo and Clorox with better valuations and yields and similar brand strength, and still respects PG as a dividend king in the middle of the pack.

Overall the video's ranking is 1 Oracle, 2 Snowflake, 3 Procter & Gamble / Texas Instruments in the middle, 4 Keurig Dr Pepper , with the clear note that only Oracle excites the host — others are not bad, but better alternatives exist for each. Through Cohen's lens the picture is a barbell of AI beta (SNOW, ORCL, TXN) and defense (PG, KDP) in the same quarter . My synthesis: for growth with patience , Oracle and TI's cash generation stand out; for defense , PG is steady but pricey while KDP is a watch-until-the-split-clarifies name; Snowflake's story is strong but price and intense hyperscaler competition warrant caution versus a broader cloud basket.