Jim Simons' Renaissance drops $520 million on surging tech stock

Renaissance Technologies conscionable made a large connection with its latest 13F release, with a monolithic stake connected red-hot Micron (MU) stock.

The quant powerhouse founded by the precocious Jim Simons raised its involvement successful the representation elephantine by much than 50%, adding astir 1.81 cardinal shares, astatine astir $520 million successful caller vulnerability based connected year-end prices.

That brings its full presumption to astir $859 million, making Micron a top-tier holding for the fund.

It besides comes successful a 4th erstwhile Renaissance chopped backmost its involvement successful AI bellwether Nvidiaand Google-parent Alphabet.

Micron has arguably been 1 of the best-performing tech stocks lately, with investors laughing each the mode to the bank.

For perspective, Micron banal is up 231% implicit the past six months and more than 73% implicit the past three.

The monolithic stake comes astatine an opportune time, arsenic representation markets displacement from a glut to a tightening supply. Prices person climbed, and Micron’s guidance suggests margins could leap done 2026.

That has everything to bash with AI and the relentless demand for high-bandwidth representation (HBM), which has go the astir supply-constrained, yet strategically critical, portion of the spot world.

Renaissance’s determination suggests it’s betting heavy connected representation prices, perchance starring to returns that are much outsized than galore investors expect.

• Market value:$64.5 billion (prior $75.8 billion)

• Inflows/(outflows) arsenic % of full marketplace value:-14.9%

• New purchases:466 stocks

• Added to:1,030 stocks

• Sold retired of:738 stocks

• Reduced holdings in:1,680 stocks

• Top 10 holdings concentration: 12.1%.
  Source: WhaleWisdom

Jim Simons is champion described arsenic a mathematician-turned-market-disrupter who, successful galore ways, redefined investing.

Simons founded Renaissance Technologies in 1978, favoring data-driven decision-making implicit instincts and trading astatine scale.

Breaking from the crowd, helium hired mathematicians and codebreakers, flipping the accepted publication of hiring stock-pickers.

Under his leadership, Renaissance’s flagship Medallion Fund became the worldly of legend, averaging much than 60% annually for 30 years, according to Reuters. Renaissance itself grew into a behemoth, with assets nether absorption jumping to over $106 cardinal successful 2024, according to Investopedia. This included astir $10 cardinal successful the Medallion Fund, which is famously closed to the public.

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