In this article, we will look at the Billionaire Steve Cohen’s 10 Large-Cap Stock Picks with Highest Upside Potential.
Steve Cohen is one of the most revered names on Wall Street, running one of the biggest hedge funds. Point 72 Asset Management is one of the most closely tracked hedge funds, with a diversified equity portfolio worth more than $80 billion in assets under management. With more than 3,000 holdings, the active portfolio has no single investment accounting for more than 2.2%.
Point 72 Management’s diversified portfolio was the catalyst behind a 17.5% gain in 2025, in line with the 17.9% gain for the S&P 500. After an impressive run, Steve Cohen is creating an executive committee to help him lead the hedge fund’s strategy and direction amid heightened market volatility. Whereas the billionaire investor will retain the roles of chairman and Chief Executive Officer, he will cede the title of President to Harry Schwefel.
In explaining these organizational changes, Cohen stated, “Over the past few years our firm has grown across virtually every metric — AUM, headcount, global footprint. As we continue to pursue the growth of existing and new strategies, I want to ensure our management structure matches our current scale and growth ambitions.”
The change seeks to ensure that the management structure aligns with the firm’s current scale and growth ambitions. While Cohen has not traded for the firm for almost two years, he remains closely involved, overseeing investments and mentoring traders.
Cohen’s investment portfolio is heavily weighted toward technology stocks, which account for about 28% of the portfolio, followed by financial and healthcare holdings. As the volatile market took a toll on many funds in March amid the escalation of the Iran war, Cohen advised Point72 traders on how to navigate the turmoil.
Point72 lost 0.7% in March, even as other funds fell more, and the tech-heavy Nasdaq 100 shed nearly 10%. The hedge fund has since bounced back and recouped all its losses, bringing its total returns for the year to 7.5%, against a 4% gain for the S&P 500 over the same period.
Amid the impressive run, let’s take a look at some of Steve Cohen’s large-cap stock picks with the highest upside potential.
Steven Cohen of Point72 Asset Management
Our Methodology
To compile the list of Steve Cohen’s 10 Large-Cap Stock Picks with Highest Upside Potential, we reviewed the latest 13F filings of Point72 Asset Management. From the portfolio, we focused on stocks with a market cap of more than $10 billion. We further trimmed the list by selecting stocks with upside potential of more than 20% (as of May 13) and also detailed the number of hedge funds holding stakes in them in Q4 2025. Finally, we ranked the stocks in ascending order based on Point72 Asset Management’s equity stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research shows we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
Billionaire Steve Cohen’s Large-Cap Stock Picks with Highest Upside Potential
10. Thermo Fisher Scientific Inc. (NYSE:TMO)
Stock Upside Potential: 36.97%
Market Capitalization: $173.16 Billion
Point 72 Asset Management Equity Stakes: $253.14 Million
Number of Hedge Fund Holders: 113
Thermo Fisher Scientific Inc. (NYSE:TMO) is one of billionaire Steve Cohen’s large-cap stock picks with the highest upside potential. On April 28, Thermo Fisher Scientific Inc. (NYSE:TMO) opened a new Bioprocess Design Center.
The new center in Plainville, Massachusetts, is designed to bring life-changing therapies to patients. In addition, customers will be able to partner with the company’s experts to address complex bioprocessing challenges. The center features 4,000 square feet of laboratory and training space where customers can access comprehensive bio-production solutions and expert scientists and engineers.
The opening of the Bioprocess Design Center is a significant milestone as Thermo Fisher Scientific seeks to enhance drug development. That’s in part because the center will help customers unlock productivity gains, reduce risks as they scale, and shorten timelines. The center is also positioned to strengthen connections and collaborations across the country by creating more opportunities to share innovation.
Thermo Fisher Scientific Inc. (NYSE:TMO) is a global leader serving science, providing high-end analytical instruments, laboratory equipment, software, services, consumables, and chemicals. It enables customers in pharmaceutical/biotech, healthcare, academia, and government to accelerate life sciences research, solve complex analytical challenges, and improve patient diagnostics.
9. DoorDash, Inc. (NASDAQ:DASH)
Stock Upside Potential: 56.82%
Market Capitalization: $67.73 Billion
Point 72 Asset Management Equity Stakes: $279.05 Million
Number of Hedge Fund Holders: 91
DoorDash, Inc. (NASDAQ:DASH) is one of billionaire Steve Cohen’s large-cap stock picks with the highest upside potential. On May 8, analysts at DA Davidson reiterated a Neutral rating on DoorDash Inc. (NASDAQ:DASH) and lowered the price target to $200 from $224.
The research firm trimmed its price target to reflect broader compression in internet marketplace multiples. Amid the price target cut, it has reiterated resilient consumer demand that was the catalyst behind solid first-quarter earnings and guidance.
Continued product improvements and healthy consumer demand trends drove a 27% increase in orders in the first quarter to 933 million. Consequently, revenue increased 33% year over year to $4 billion as adjusted EBITDA increased 28% to $754 million.
On the other hand, analysts at Citizens have reiterated a Market Outperform rating on DoorDash and a $250 price target, based on 24 times the stock’s 2027 EBITDA estimate. The research firm remains optimistic about the company’s prospects as payments represent a significant opportunity and a competitive advantage.
DoorDash, Inc. (NASDAQ:DASH) is a leading technology company and logistics platform that connects customers with local businesses, providing on-demand delivery of food, groceries, alcohol, and retail items. Its three-sided marketplace matches consumers with merchants and independent courier drivers (“Dashers”) through its app and website.
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