Jim Simons' Renaissance pulled $1.2 billion out of Tesla and slashed its Starbucks and Amazon stakes last quarter

Renaissance Technologies cut its Tesla, Amazon, and Starbucks holdings in the first quarter.
The quantitative hedge fund, founded by Cold War codebreaker Jim Simons, sold more than 80% of its Tesla and Starbucks stock and 43% of its Amazon shares, a financial filing revealed.
RenTech also slashed its stakes in Norwegian Cruise Line, United Airlines, and General Electric, but loaded up on Costco, Coca-Cola, and Baidu stock.
Overall, the fund's stock portfolio tumbled in value by 22% to about $101