Renaissance Technologies Q4 2025: The $64B Quant Giant's Palantir Conviction
Inside Renaissance Technologies' massively dispersed Q4 2025 13F, highlighting their surprising $1.56B top position in Palantir.
The legendary quant firm Renaissance Technologies LLC returned to reporting massive 13F AUM for Q4 2025, revealing a staggering $64.46 billion portfolio. Known for their secretive Medallion Fund and complex algorithmic trading, "RenTech" spreads its bets across a dizzying 3,185 positions.
Algorithmic Dispersion with a Palantir Tilt
True to its quantitative nature, the portfolio is highly dispersed. The top 10 holdings account for only 15.0% of the total value. However, the #1 position is highly notable: a $1.56 billion (3.0%) stake in data analytics firm Palantir Technologies (PLTR). This outsized algorithmic conviction in PLTR suggests their models have identified significant momentum or fundamental anomalies in the stock.
The firm also holds substantial positions in United Therapeutics (UTHR) ($930M) and Micron Technology (MU) ($859M), reflecting a machine-driven approach that aggressively balances biotech volatility with semiconductor cycles.
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Explore all researchAQR’s Q4 2025 filing kept expanding, with AUM rising to $190.63B, 69 new names, and a dramatic Bristol Myers build inside an already broad book. The next filing will show whether the quant giant keeps pressing this expansion or starts normalizing the roster again.
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Principal’s Q4 2025 filing looked slightly weaker on headline AUM, but the internal rotation was more revealing: Brookfield became a top-ten position, Netflix surged, and the fund cut back in parts of real estate. The next filing will show whether that shift keeps going.
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Dodge & Cox’s Q4 2025 filing barely moved on headline AUM, but the underlying changes were more interesting: fresh positions in Brookfield, TransUnion and PDD inside a still-diversified value book. The next filing will show whether those adds were conviction moves or just incremental reshuffling.
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Victory Capital kept mega-cap tech on top in Q4 2025, but the sharper signal was in the secondary moves: large increases in Netflix, Constellation Energy, TSMC and new positions like IQVIA. The next filing will show whether that diversification continues.
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