Published On: Sun, Aug 24th, 2014

Jim Simons Trims the Fat from McDonald’s Holding

James Simons

Jim Simons of Renaissance Technologies bagged a part of his position in McDonald’s. Shares of the biggest burger brand are down 7.8% since June amid food scandals in China , consumer rejection of its products in favor of healthier choices and competition from other fast food companies. McDonald’s  is still a major holding in Simons’ portolio, but he trimmed 2% off the McDonald’s fat from his portfolio in 2Q, and now the fast food chain comprises 2% of Renaissance’s holdings. Simons now owns 8.29 million shares, down from 8.52 million.

Simons boosted his position in Novo Nordisk (NVO) by 5%, and Renaissance now has 16.95 million shares worth $783 million. One of the largest additions was Colgate-Palmolive (CL). Simons’ increased his stake by 30% to 9.6 million shares worth $655 million.

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