Insights from the Latest 13F Filing for Q3 2024

Renaissance Technologies (Trades, Portfolio), founded by Jim Simons in 1978, is a pioneering quant hedge fund based in New York. Known for its advanced mathematical and statistical models, the firm engages in systematic trading across global markets. Although Simons retired as chairman in 2021 and passed away in 2024, his legacy continues as the fund remains a leader in deploying complex algorithms to predict financial markets.

• Warning! GuruFocus has detected 6 Warning Signs with PLTR.

Summary of New Buys

Renaissance Technologies (Trades, Portfolio) expanded its portfolio significantly in the third quarter of 2024, adding a total of 580 stocks. Noteworthy new additions include:

• Micron Technology Inc (NASDAQ:MU), purchasing 2,604,914 shares, which now represent 0.41% of the portfolio, valued at $270.16 million.
• Eli Lilly and Co (NYSE:LLY), acquiring 257,813 shares, making up about 0.34% of the portfolio, with a total investment of $228.41 million.
• Cisco Systems Inc (NASDAQ:CSCO), with 3,366,705 new shares, accounting for 0.27% of the portfolio, valued at $179.18 million.

Key Position Increases

During the same period, Renaissance Technologies (Trades, Portfolio) increased its stakes in 1,560 stocks. Significant increases include:

• Microsoft Corp (NASDAQ:MSFT), with an additional 1,246,346 shares, bringing the total to 1,571,271 shares. This adjustment marks a 383.58% increase in share count and a 0.81% impact on the current portfolio, totaling $676.12 million.
• Apple Inc (NASDAQ:AAPL), adding 1,554,759 shares, resulting in a total of 3,276,203 shares. This represents a 90.32% increase in share count, with a total value of $763.35 million.

Summary of Sold Out Positions

Renaissance Technologies (Trades, Portfolio) also exited 1,322 stocks during the quarter. The most significant reductions include:

• NVIDIA Corp (NASDAQ:NVDA), selling off 3,493,719 shares, a 49.76% decrease, impacting the portfolio by -0.73%. The stock had an average trading price of $118.12 during the quarter and has seen a 25.81% return over the past three months and 195.08% year-to-date.
• Tesla Inc (NASDAQ:TSLA), reducing holdings by 1,767,907 shares, an 86.18% decrease, affecting the portfolio by -0.59%. The stock traded at an average price of $228.05 during the quarter, with a 58.56% return over the past three months and 32.62% year-to-date.

Portfolio Overview

As of the third quarter of 2024, Renaissance Technologies (Trades, Portfolio)'s portfolio included 3,485 stocks. The top holdings were 2.15% in Palantir Technologies Inc (NYSE:PLTR), 1.47% in Novo Nordisk AS (NYSE:NVO), 1.16% in United Therapeutics Corp (NASDAQ:UTHR), 1.15% in Apple Inc (NASDAQ:AAPL), and 1.14% in Vertex Pharmaceuticals Inc (NASDAQ:VRTX). The holdings are predominantly concentrated in 11 industries: Technology, Healthcare, Consumer Cyclical, Industrials, Financial Services, Consumer Defensive, Communication Services, Basic Materials, Energy, Real Estate, and Utilities.

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.