The quantitative hedge fund Renaissance Technologies, founded by Jim Simons, drastically reduced its stake in Nokia Corp. (NOK) during the second quarter of 2026. According to its most recent 13F filing, the firm sold approximately 10.82 million shares, cutting its position by 81.45% from 13.29 million to just 2.47 million shares. The market value of its remaining holding was reported as $32.75 million.
This trade information, disclosed on August 13, 2026, reflects portfolio changes made between April 1 and June 30, 2026. The reduction in Nokia stock occurred during a quarter where Nokia reported an 8% increase in revenue and saw sales to its AI and cloud customers double. However, the company also undertook significant restructuring efforts, which contributed to a reported operating loss for the quarter.