Hedge Fund Legend Builds Tesla Stake Worth Over $3 Billion During Its Meteoric Rise

It looks like Tesla (NASDAQ: TSLA) can now count billionaire investor Jim Simons as a major shareholder (at least during Q4). According to a form 13G filing (similar to the 13F in that it discloses stock investments by large investors) by Simons' Renaissance Technologies, the hedge fund bought just under 3.3 million shares of the electric car, battery, and solar panel maker during the fourth quarter of 2019. 

Since the beginning of the fourth quarter, Tesla's shares have absolutely skyrocketed, gaining almost 250% in value. According to the filing, Renaissance Technologies held more than 3.9 million shares at the end of 2019. At recent market prices, that stake would be worth $3.3 billion. 

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Source Fool.com