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.
Booking Profits By Liquidating Chipmakers And Blue-Chip Stocks
The firm’s latest 13F filing reveals a significant reallocation of capital, adding huge positions in Netflix Inc. NFLX and Apple Inc. AAPL while liquidating its entire stake in Broadcom Inc. AVGO and Advanced Micro Devices Inc. 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. WMT, Alphabet Inc. Class C GOOG, and Starbucks Corp. SBUX
| Company | Holdings (as of March 31) | Holdings (as of June 30) | Change (in %) | Value (as of June 30) |
| Apple Inc. AAPL | 4,376 | 2,286,262 | 52146% | $469.076 million |
| Netflix Inc. NFLX | 408 | 538,528 | 131892% | $721.161 million |
| Broadcom Inc. AVGO | 2,427,714 | 0 | -100% | 0 |
| Advanced Micro Devices Inc. AMD | 3,195,790 | 0 | -100% | 0 |
| Walmart Inc. WMT | 2,936,204 | 0 | -100% | 0 |
| Alphabet Inc. Class C GOOG | 1,317,620 | 0 | -100% | 0 |
| Starbucks Corp. SBUX | 1,512,084 | 0 | -100% | 0 |
| UnitedHealth Group Inc. UNH | 0 | 1,352,129 | New | $421.823 million |
| Snowflake Inc. SNOW | 0 | 717,000 | New | $160.443 million |
| Boeing Co. BA | 0 | 555,400 | New | $116.372 million |
| Palantir Technologies Inc. PLTR | 16,289,873 | 13,502,046 | -17% | $1.840 billion |
| Nvidia Corp. NVDA | 1,084,960 | 7,422,744 | 584% | $1,172 billion |
| Robinhood Markets Inc. HOOD | 16,656,416 | 11,515,634 | -31% | $1.078 billion |
| VeriSign Inc. VRSN | 3,013,971 | 3,267,369 | 8% | $943.616 million |
New Positions For Diversification
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. UNH, $160.4 million in data-warehousing company Snowflake Inc. SNOW, and $116.4 million in aerospace giant Boeing Co. BA.
Churn In Its Top Hollings
While some top holdings were trimmed, such as Palantir Technologies Inc. PLTR and Robinhood Markets Inc. 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. 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.
Price Action
The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF 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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