Jim Simons' quantitative hedge fund, Renaissance Technologies, drastically reduced its holdings in American Express (AXP) during the second quarter of 2026. According to its latest 13F filing, the firm sold over 516,000 shares, cutting its position by 93.72%. The sale reduced the reported value of its AXP stake from $166.63 million to just $11.70 million.
This disclosure provides a snapshot of the firm's portfolio as of June 30, 2026, and does not reflect trading activity since that date. The move is notable as American Express reported a 10% year-over-year revenue increase and beat earnings-per-share estimates for the same quarter. Despite the strong results, the company's stock fell after the announcement as revenue slightly missed forecasts and profit guidance for the year remained unchanged.