What if you had copied Renaissance Technologies?
Founded by Jim Simons
The verdict
Copying Renaissance Technologies's 13F filings from Feb 2020 would have turned $10,000 into $25,650, more than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,576 over the same days. The copy returned +15.0% a year against +14.3% for the S&P 500, 0.7 points a year ahead. Its worst fall was 29.7%, from Feb 19, 2020 to Mar 23, 2020. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 14, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying Renaissance Technologies$25,650
- S&P 500$24,576
- Bought their first portfolio and never traded$25,518
If you had bought their first portfolio and never traded, you would have ended at $25,518, so following every move earned $132 more.
- $10,000 copied
- $25,650
- +156.5%, +15.0% a year
- In the S&P 500
- $24,576
- +145.8%, +14.3% a year
- No trading
- $25,518
- Bought their first portfolio and never traded
- Worst fall
- −29.7%
- Feb 19, 2020 to Mar 23, 2020
- Trades
- 732
- 391 buys, 341 sales over 27 filings; about 116% of the copy traded a year
The moves that made the most
- PLTRPalantir Technologies+$3,925
Held since Nov 2021, the stock up 1,049%
- MUMicron Technology+$964
Held since Feb 2022, the stock up 47%
- EXELExelixis+$815
Held since Aug 2020, the stock up 226%
Held from Feb 2020 to Nov 2025, the stock up 69%
Held since Aug 2020, the stock up 435%
Held since Feb 2025, the stock up 29%
The moves that cost the most
Held from May 2025 to Feb 2026, the stock down 72%
- RBLXRoblox−$426
Held since Feb 2022, the stock down 73%
- AGXArgan−$380
Held since May 2026, the stock down 57%
Held since Aug 2026, the stock down 48%
- MRNAModerna−$252
Held from Aug 2021 to Nov 2022, the stock down 50%
- MSFTMicrosoft−$207
Held from Feb 2021 to May 2026, the stock down 25%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +16.4% | +12.8% | +3.6 |
| 2021 | +17.0% | +28.7% | −11.8 |
| 2022 | −14.6% | −18.2% | +3.6 |
| 2023 | +27.5% | +26.2% | +1.3 |
| 2024 | +31.6% | +24.9% | +6.7 |
| 2025 | +25.2% | +17.7% | +7.5 |
| 2026to Nov 2026 | +4.9% | +11.5% | −6.6 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.