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Late investor Jim Simons‘ fund, Renaissance Technologies LLC, executed a major shake-up of its technology holdings in the second quarter, doubling down on streaming and consumer electronics while completely exiting major chipmaker stocks.
The firm’s latest 13F filing reveals a significant reallocation of capital, adding huge positions in Netflix Inc. (NASDAQ:NFLX) and Apple Inc. (NASDAQ:AAPL) while liquidating its entire stake in Broadcom Inc. (NASDAQ:AVGO) and Advanced Micro Devices Inc. (NASDAQ:AMD).
These moves were part of a broader portfolio adjustment within the fund, which held 3,522 positions valued at over $75.1 billion as of June 30.
Renaissance’s stake in Netflix ballooned by an astronomical 131,892% to a value of $721.1 million. Similarly, its holdings in Apple surged by 52,146% to $469.1 million.
It also exited other blue-chip stocks completely, liquidating its holdings in Walmart Inc. (NYSE:WMT), Alphabet Inc. Class C (NASDAQ:GOOG), and Starbucks Corp. (NASDAQ:SBUX)
| Company | Holdings (as of March 31) | Holdings (as of June 30) | Change (in %) | Value (as of June 30) |
| Apple Inc. (NASDAQ:AAPL) | 4,376 | 2,286,262 | 52146% | $469.076 million |
| Netflix Inc. (NASDAQ:NFLX) | 408 | 538,528 | 131892% | $721.161 million |
| Broadcom Inc. (NASDAQ:AVGO) | 2,427,714 | 0 | -100% | 0 |
| Advanced Micro Devices Inc. (NASDAQ:AMD) | 3,195,790 | 0 | -100% | 0 |
| Walmart Inc. (NYSE:WMT) | 2,936,204 | 0 | -100% | 0 |
| Alphabet Inc. Class C (NASDAQ:GOOG) | 1,317,620 | 0 | -100% | 0 |
| Starbucks Corp. (NASDAQ:SBUX) | 1,512,084 | 0 | -100% | 0 |
| UnitedHealth Group Inc. (NYSE:UNH) | 0 | 1,352,129 | New | $421.823 million |
| Snowflake Inc. (NYSE:SNOW) | 0 | 717,000 | New | $160.443 million |
| Boeing Co. (NYSE:BA) | 0 | 555,400 | New | $116.372 million |
| Palantir Technologies Inc. (NASDAQ:PLTR) | 16,289,873 | 13,502,046 | -17% | $1.840 billion |
| Nvidia Corp. (NASDAQ:NVDA) | 1,084,960 | 7,422,744 | 584% | $1,172 billion |
| Robinhood Markets Inc. (NASDAQ:HOOD) | 16,656,416 | 11,515,634 | -31% | $1.078 billion |
| VeriSign Inc. (NASDAQ:VRSN) | 3,013,971 | 3,267,369 | 8% | $943.616 million |
The fund also initiated several other substantial new positions, signaling fresh conviction in diverse sectors. It bought $421.8 million worth of UnitedHealth Group Inc. (NYSE:UNH), $160.4 million in data-warehousing company Snowflake Inc. (NYSE:SNOW), and $116.4 million in aerospace giant Boeing Co. (NYSE:BA).
While some top holdings were trimmed, such as Palantir Technologies Inc. (NASDAQ:PLTR) and Robinhood Markets Inc. (NASDAQ:HOOD), the overall picture points to a decisive strategic shift.
In a notable exception to the chipmaker exodus, Renaissance significantly boosted its stake in Nvidia Corp. (NASDAQ:NVDA) by 584%, increasing its value to over $1.17 billion.
The fund is moving away from certain semiconductor and retail giants and redeploying capital into healthcare, aerospace, and specific segments of the consumer tech and enterprise data markets.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, closed higher on Wednesday. The SPY was up 0.34% at $644.89, while the QQQ advanced 0.05% to $580.34, according to Benzinga Pro data.
On Thursday, the futures of the S&P 500, Dow Jones and Nasdaq 100 indices were mixed.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Posted In: AAPL AMD AVGO BA GOOG HOOD NFLX NVDA PLTR QQQ SBUX SNOW SPY UNH VRSN WMT
