Defiance Daily Target 2X Long ANET ETF

Breaking: Point72 Asset Management just filed its Q2 2026 13F

Here's everything you need to know about the recent 13F

Top 10 positions:

• Credo Technology $Credo Tech(CRDO.US) (1.8%)

• SPDR S&P 500 ETF $SPY [Put] (1.3%)

• ASML $ASML(ASML.US) (1.2%)

• SPDR S&P 500 ETF $SPY [Call] (1.2%)

• Amazon $Amazon(AMZN.US) (1.2%)

• MKS Inc $MKS(MKSI.US) (1.0%)

• Arista Networks $Arista Networks(ANET.US) (1.0%)

• Seagate Technology $Seagate Tech(STX.US) (0.9%)

• AMD $AMD(AMD.US) (0.9%)

• Taiwan Semiconductor $Taiwan Semiconductor(TSM.US) (0.8%)

Top 10 new positions (by $ size):

• $Atmos Energy(ATO.US) (Atmos Energy)

• FedEx Freight Holding

• INNIO Group

• Alphabet Class B $Alphabet(GOOGL.US) (dep shares)

• $GSK(GSK.US) (GSK plc)

• CyberArk convertible note

• X-Energy

• Alphabet Class A $Alphabet(GOOGL.US) (dep shares)

• iShares Investment Grade Corp Bond ETF $LQD

Top 10 full exits (by prior $ size):

• Apellis Pharmaceuticals $Apellis Pharma(APLS.US)

• Lumentum convertible note

• CenterPoint Energy note

• Brinker International $Brinker(EAT.US)

• Medline $Medline(MDLN.US)

• Hyatt Hotels $Hyatt Hotels(H.US)

• Teleflex $Teleflex(TFX.US)

• Ventas note

• Ascendis Pharma note

Summary: Point72's book grew 16.2% to $90.68B this quarter but stays extremely diversified, top 10 is only 11.2% of the fund. Roughly 566 positions added and 540 exited out of ~3,900 total

BofA: Switching Trends

Data Center (DC) Switching (66% of Market)

Data center switching remains the largest segment and grew 50% YoY in 1Q26, driven heavily by cloud deployments:

> AI Back-End Switching: Grew 121% YoY, now accounting for ~38% of the DC switching market compared to 26% a year ago.

> Front-End Switching: Grew 25.6% YoY, accelerating from 11.8% growth in 1Q25.

> Vendor Standings: In the aggregate DC market, Arista leads with a 21.1% market share, followed by Cisco at 17.8% and Celestica at 13.2%.

Key Vendor & Customer Segment Shifts

> Cisco’s AI Back-End Breakthrough: Cisco expanded its AI back-end DC switching market share from zero last year to 7.9% in 1Q26. Specifically within the Hyperscaler back-end segment, Cisco jumped to 13.2% (matching Arista and Nvidia), largely due to penetration into Meta's 800G leaf switch layer.

> AI Back-End Leaders: White-box manufacturer Celestica remains the largest player in AI back-end switching with a 26.3% share, followed by Nvidia at 24.5% and Arista at 12.1%.

> Nvidia Dominates Tier-2 AI: Nvidia commands a massive 57.2% share of the Tier-2/Neo Cloud AI back-end market, demonstrating a strong full reference design value proposition.

> Arista's Tier-2 Front-End Strength: Arista holds 32.0% of the Tier-2 Front-End market, closely chased by Cisco at 21.6%.

Campus Switching (34% of Market)

> Steady Improvement: The segment grew 15.1% YoY in 1Q26, consistently tracking at a 9%+ growth baseline compared to historical averages of 1–2%. Growth is primarily driven by enterprise product refreshes.

> Cisco Dominance: Cisco heavily leads the Campus market with a 53.5% share. Analysts expect Cisco to gain further share over the coming quarters as its Catalyst 4000 series (2026) and Catalyst 6000 series (late 2027) reach End-of-Service (EOS), triggering mandatory client refreshes.

$Cisco(CSCO.US) $NVIDIA(NVDA.US) $Arista Networks(ANET.US) $Celestica(CLS.US)

A few growth tech stocks that are at entry right now for swing traders.

• $AMD(AMD.US) (Chips) PT: $600

• $Ouster(OUST.US) (Lidar) PT: $70

• $Fortinet(FTNT.US) (Cyberspace) PT: $170

• $Marvell Tech(MRVL.US) (Jense) PT: $350

• $Arista Networks(ANET.US) (Networking) PT: $200

• $Flex(FLEX.US) (Manufacturing) PT: $175

• $NVIDIA(NVDA.US) (Jensens side gig after MRVL) PT: $235

• $STMicroelectronics NV(STM.US) (Semis) PT: 90

• $Dell Tech(DELL.US) (My fav in the list) PT: 550+

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $Arista Networks(ANET.US) Arista Unveils 𝐄𝐭𝐡𝐞𝐫𝐥𝐢𝐧𝐤 𝟕𝟎𝟔𝟎𝐗𝐄𝟕 Series for Rack-Scale AI Infrastructure

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ Arista launches new 𝐭.𝟔𝐓 𝐄𝐭𝐡𝐞𝐫𝐧𝐞𝐭 platforms for AI-scale networking.

➤ 7060XE7 Series designed for 𝐫𝐚𝐜𝐤-𝐬𝐜𝐚𝐥𝐞 𝐀𝐈 fabrics and AI supersystems.

➤ Platforms deliver up to 𝟏𝟎𝟎 𝐓𝐛𝐩𝐬 switching capacity and 𝟏.𝟔𝐓 per port.

➤ Supports air-cooled, liquid-cooled, and 𝐡𝐲𝐛𝐫𝐢𝐝-𝐜𝐨𝐨𝐥𝐞𝐝 AI deployments.

➤ 𝐋𝐏𝐎 technology reduces interconnect power consumption by approximately 𝟔𝟎%.

➤ Designed with support from major AI infrastructure players including 𝐌𝐞𝐭𝐚, 𝐌𝐢𝐜𝐫𝐨𝐬𝐨𝐟𝐭, and 𝐎𝐫𝐚𝐜𝐥𝐞.

➤ Built on Broadcom 𝐓𝐨𝐦𝐚𝐡𝐚𝐰𝐤 𝟔 silicon and supports advanced AI networking features.

💬 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭:

"The AI era requires a shift in how we think about the network - it is no longer a standalone layer of infrastructure, but a tightly integrated component of the AI supersystem," said Tyson Lamoreaux, Senior Vice President, Cloud and AI Networking at Arista Networks.

"With the 7060XE7 Series, we are delivering massive-scale 1.6T systems that combine world-class reliability and the differentiation of EOS with liquid cooling and low-power optics to help our customers build AI fabrics designed for maximum performance and power efficiency."

Strong finish to the week with the help of $Velo3D(VELO.US) $Penguin Solutions(PENG.US) $D-Wave Quantum(QBTS.US) $Amtech(ASYS.US) $Arista Networks(ANET.US) $GlobalFoundries(GFS.US) and $Vistra(VST.US)

Have a great long weekend!

$Arista Networks(ANET.US) | 𝐀𝐫𝐢𝐬𝐭𝐚 𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝐬: Raymond James 𝐮𝐩𝐠𝐫𝐚𝐝𝐞𝐬 𝐭𝐨 𝐎𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦, sets 𝐏𝐓 𝐚𝐭 $𝟏𝟔𝟒

Analyst sees AI networking demand and share gains driving stronger growth beyond 2027.

📊 Earnings / catalyst trade ideas for tomorrow

(Not Financial Advice)

$NVIDIA(NVDA.US) $Marvell Tech(MRVL.US) $Lumentum(LITE.US) $Arista Networks(ANET.US) $Coherent Corp.(COHR.US) $Guardant Health(GH.US) $Astera Labs(ALAB.US) $Monolithic Power(MPWR.US) $Regal Rexnord(RRX.US)

📌 See pinned tweet for how I use my WL