Jim Simons Q1 2026 Portfolio — AAPL Initiated, NVDA Position Expanded 190%

Renaissance Technologies, managed by the Jim Simons Estate, disclosed in its Q1 2026 13F filing that it initiated a new position in AAPL at $781M and expanded its NVDA position by 190% to $441M. At the same time, the firm fully exited five holdings — including PG ($428M), AMZN ($206M), and F ($324M) — compressing the portfolio to 20 positions with a total disclosed AUM of $10.7 billion.

Top 5 Holdings — Q1 2026

• UTHR: $1.1B (1.7%)
• PLTR: $1.0B (1.6%)
• AAPL: $781M (1.2%)
• KGC: $780M (1.2%)
• MU: $731M (1.1%)

Q1 2026 Key Trading Highlights

The most notable shift in this filing is a sharp concentration into large-cap technology. AAPL was initiated at $781M (1.2% weight), landing immediately as the third-largest position, while NVDA surged 190% quarter-over-quarter to $441M — signaling deepened conviction in AI infrastructure beneficiaries. New positions also include gold miner NEM ($181M), financials AXP ($167M) and BX ($165M), and META ($145M), reflecting a deliberate effort at sector diversification.

• AAPL: Initiated at $781M — re-entry into big tech, jumps straight to #3 in portfolio
• NVDA: Added +190% ($441M) — strong conviction signal on AI infrastructure demand
• NEM: Initiated at $181M — entry into precious metals amid gold price strength
• META: Initiated at $145M — reflects growth expectations for AI and ad platform
• PG: Fully exited $428M → 0 — complete departure from defensive consumer staples
• AMZN: Fully exited $206M → 0 — selective repositioning within big tech
• BERKSHIRE HATHAWAY: -99% ($824,942) — value equity position effectively eliminated

The top portfolio holding is biotech UTHR at $1.1B (1.7% weight), followed by data analytics platform PLTR at $1.0B (1.6%), with healthcare and AI themes dominating the upper ranks. Renaissance also added to KGC (+2%) and VRSN (+1%), reinforcing exposure to gold-linked assets and internet infrastructure. On the sell side, NFLX and KO were virtually eliminated, and BERKSHIRE HATHAWAY was cut by 99%, marking a decisive retreat from value and consumer staples.

Renaissance's Next Move: Converging on AI, Healthcare, and Gold

Renaissance Technologies' Q1 2026 portfolio is converging clearly around three pillars: AI (NVDA, PLTR), biotech (UTHR, EXEL), and precious metals (KGC, FNV, NEM). The wholesale liquidation of consumer staples and traditional value stocks, combined with fresh initiations in AAPL and META, reads as a strategic rotation toward structurally high-growth sectors rather than near-term momentum plays. The concentrated 20-stock structure itself underscores a high-conviction, focused approach — and as long as the AI infrastructure cycle and gold bull run persist, the current allocation framework is likely to hold.