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Jim Simons, the legendary hedge fund manager who founded the prolific Renaissance Technologies, died on Friday, according to the foundation he started. AdvertisementThe MIT math professor and former NSA codebreaker was 86 years old. "Jim was an exceptional leader who did transformative work in mathematics and developed a world-leading investment company," Simons Foundation president David Spergel said in a statement. This is a developing story. Please check back for updates.
Persons: Jim Simons, NSA codebreaker, Jim, David Spergel Organizations: Renaissance Technologies, NSA
Renaissance Technologies eviscerated its Tesla and Twitter stakes last quarter. Jim Simons' quant fund also slashed the value of its Twitter bet from around $94 million to below $11 million. The quantitative fund pared its Tesla position from a split-adjusted 2.2 million shares valued at $504 million at the end of June, to only 1,400 shares worth less than $400,000 at the end of September. Moreover, it cut its Twitter stake from 2.5 million shares worth $94 million at the midpoint of this year, to 248,000 shares valued around $11 million on September 30. On the other hand, it boosted its Airbnb bet by 30% to 7.3 million shares, meaning the home-rental platform jumped from its 17th-largest holding to number four on the list.
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