Insight into Renaissance Technologies (Trades, Portfolio)' Latest 13F Filings and Strategic Adjustments
Renaissance Technologies (Trades, Portfolio), founded by Jim Simons in 1978, is a pioneering quant hedge fund known for its advanced mathematical and statistical trading models. Despite Simons' retirement, the firm continues to influence global markets with its data-driven approach. The recent 13F filing for the second quarter of 2024 reveals significant portfolio adjustments, including new buys, increased stakes, and sold-out positions, reflecting their ongoing strategy to capitalize on market movements.
Summary of New Buys
Renaissance Technologies (Trades, Portfolio) has expanded its portfolio by adding 465 new stocks. Noteworthy new acquisitions include:
- Broadcom Inc (AVGO, Financial), with 294,115 shares, making up 0.8% of the portfolio and valued at $472.21 million.
- Advanced Micro Devices Inc (AMD, Financial), comprising 1,825,890 shares, which represent about 0.5% of the portfolio, totaling $296.18 million.
- Qualcomm Inc (QCOM, Financial), with 1,096,777 shares, accounting for 0.37% of the portfolio and valued at $218.46 million.
Key Position Increases
Renaissance Technologies (Trades, Portfolio) also significantly increased its stakes in several key holdings among its 1,437 stock adjustments:
- Apple Inc (AAPL, Financial) saw an addition of 1,307,877 shares, bringing the total to 1,721,444 shares. This adjustment marks a 316.24% increase in share count, impacting the portfolio by 0.46%, with a total value of $362.58 million.
- NVIDIA Corp (NVDA, Financial) increased by 1,515,540 shares, bringing the total to 7,021,790 shares. This represents a 27.52% increase in share count, valued at $867.49 million.
Summary of Sold Out Positions
In the second quarter of 2024, Renaissance Technologies (Trades, Portfolio) exited 680 positions. Significant exits include:
- Micron Technology Inc (MU, Financial), where all 1,174,436 shares were sold, impacting the portfolio by -0.22%.
- Bank of America Corp (BAC, Financial), with all 3,754,866 shares liquidated, also causing a -0.22% portfolio impact.
Key Position Reductions
The firm reduced its positions in 1,504 stocks, with major reductions in:
- Amazon.com Inc (AMZN, Financial) by 2,775,706 shares, resulting in a -74.02% decrease in shares and a -0.78% impact on the portfolio. The stock traded at an average price of $183.7 during the quarter and has returned -10.97% over the past three months and 9.85% year-to-date.
- Uber Technologies Inc (UBER, Financial) by 6,031,849 shares, resulting in a -92.49% reduction in shares and a -0.73% impact on the portfolio. The stock traded at an average price of $69.5 during the quarter and has returned 2.72% over the past three months and 11.77% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Renaissance Technologies (Trades, Portfolio)' portfolio included 3,445 stocks. The top holdings were 2.22% in Novo Nordisk A/S (NVO, Financial), 1.7% in Palantir Technologies Inc (PLTR, Financial), 1.47% in NVIDIA Corp (NVDA, Financial), 1.25% in Vertex Pharmaceuticals Inc (VRTX, Financial), and 1.17% in United Therapeutics Corp (UTHR, Financial). The holdings are predominantly concentrated across 11 industries, including Technology and Healthcare.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
