5 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies

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In this article we will take a look at the 5 best stocks to buy according to Jim Simon’s Renaissance Technologies. If you want to see our detailed analysis of Simons’ history, investment philosophy, and hedge fund performance, go directly to 10 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies.

5. Amazon.com, Inc. (NASDAQ:AMZN)

Simons’ Stake Value: $896.6 million

Percentage of Jim Simons’ 13F Portfolio: 1.11%

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is a multinational company that provides a platform for e-commerce, cloud computing, digital streaming services and artificial intelligence. Ranked fifth on the list of the 10 best stocks to buy according to Jim Simons’ Renaissance Technologies, Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.72 trillion.

Jim Simons’ Renaissance Technologies currently owns 260,655 shares of Amazon.com, Inc. (NASDAQ:AMZN), worth $896.6 million and accounting for 1.11% of the fund’s portfolio. By the end of the second quarter of 2021, 271 hedge funds out of the 873 tracked by Insider Monkey held stakes in Amazon.com, Inc. (NASDAQ:AMZN), worth roughly $60.49 billion. This is compared to 243 hedge funds in the previous quarter with a total stake value of approximately $50.4 billion.

Amazon.com, Inc. (NASDAQ:AMZN) last released its earnings report for the second quarter of 2021 on July 28, with reported earnings per share at $15.12, beating estimates of $12.29 by $2.83. The e-commerce company also reported quarterly revenues of $113.08 billion, falling short of the estimated revenues by $2.01 billion.

Out of the hedge funds being tracked by Insider Monkey, Martyn Taylor’s Crake Asset Management is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 68,500 shares worth more than $235 billion.

In the Q2 2021 investor letter of L1 Capital, the fund mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the fund said:

Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best positioned businesses globally, with its share price still not reflecting fair value.”



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