$23.5B East Setauket hedge fund cuts Google, Apple
Renaissance Technologies founder James Simons addresses a gathering at the Simons Center for Geometry and Physics at the Stony Brook University.(Oct. 26, 2010) Credit: John Dunn, 2010
East Setauket-based Renaissance Technologies, the world's biggest quant fund with $23.5 billion in holdings, disclosed Monday that it reduced its investments in Apple, Google and other major companies.
The fund sold all its holdings of Exxon Mobil, Verizon, General Electric, AT&T, PepsiCo, Amazon.com and Comcast.
Renaissance Technologies uses computer models to make automated trades.
Known informally as RenTec, the quantitative analysis hedge fund made the disclosures Monday in a quarterly report with the Securities and Exchange Commission. It invests in shares of about 2,600 companies.
RenTec was founded by James Simon, a former Stony Brook math professor and ex-codebreaker for the National Security Agency.
Apple is still the hedge fund's top holding, as of the report date of Sept. 30, with about 1 million shares -- a 282,000 reduction since its last public report.
The fund report also showed it owns only 107,000 shares in Google, a reduction of 446,000 shares.
Photo: Renaissance Technologies founder James Simons addresses a gathering at the Simons Center for Geometry and Physics at the Stony Brook University. (Oct. 26, 2010)
'He killed my daughter and two other children' Newsday examines the increase in aggressive driving on Long Island as part of a yearlong investigative series into the area's dangerous roads. NewsdayTV's Shari Einhorn reports.
Top Stories
'He killed my daughter and two other children' Newsday examines the increase in aggressive driving on Long Island as part of a yearlong investigative series into the area's dangerous roads. NewsdayTV's Shari Einhorn reports.
