- TSLA is in the NASDAQ 100 but not in the S&P 500
The fund that Simons founded in 1982 added 3.3 million shares of Tesla in the 3-month period ended Dec. 31
James Simons, founder of Renaissance Technologies.
Renaissance Technologies, added more than 3 million shares of Tesla to its holdings in the fourth quarter of last year, as the electric-vehicle maker’s shares catapulted higher, according to public filings.
The hedge fund founded by James Simons, considered the premiere quantitative-driven investor, owned 3.9 million shares of Tesla at the end of Dec. 31, with the company’s stake in Renaissance’s portfolio jumping from 0.1% in the prior quarterly period to 1.3%, according to file-tracking site Whalewisdom.
For his efforts, he ranks No. 21 on the Forbes list of the wealthy, with a net worth of $21.6 billion.
Renaissance’s main investment offering is the flagship Medallion Fund, which has generated a 39% average annual return from 1988 to 2018, that is despite rich fees, which currently include a 5% management and 44% performance fees.
The Medallion Fund limits its assets to roughly $10 billion and is only available to Renaissance employees.