One of the most successful and largest hedge funds in history, Renaissance Technologies, increased its position in Tesla last quarter. At the same time, the fund cashed-in on shares of Apple and Amazon.
The fund sold approximately 193,000 Amazon shares and 979,000 Apple shares in the three months prior to June 30th. According to this data, Renaissance Technologies likely earned between $600 million and $900 million based on the trading ranges of two stocks during this period. At the same time, the fund increased its stake in Tesla by 44% to 1,106,906 shares. The data became available thanks to Form 13F, which was published on August 14, 2020.
Renaissance Technologies is respected in the hedge fund industry for its reputation, although the firm is decidedly secretive. The quarterly disclosure of stock information for hedge fund managers, known as form 13F/G, is one of the few public ways to keep track of what they sell and buy.
Renaissance Technologies is a hedge fund founded in 1982 by mathematics professor Jim Simons, who decrypted Soviet codes during the Cold War. He specializes in stock trading using mathematical and statistical analysis models. Simons managed the hedge fund until 2009. The CEO of Renaissance Technologies is Peter Brown.
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