Jim Simons' influential quantitative hedge fund, Renaissance Technologies, virtually eliminated its stake in the Industrial Select Sector SPDR Fund (XLI) during the second quarter of 2026. According to its latest 13F filing, the firm sold over 664,000 shares, reducing its position by 98.5% from a reported value of $109.1 million to just $1.85 million. The estimated value of the shares sold is approximately $123.1 million.
Investors should note that 13F filings are delayed disclosures, meaning this activity, reported in mid-August, reflects trades executed between April 1 and June 30. The sale occurred during a period where the industrials sector saw strong performance, with the XLI fund up over 16% for the year as of late July, driven by factors including AI infrastructure demand and manufacturing reshoring. The secretive firm has not publicly commented on its motive for the large-scale reduction.