Renaissance Technologies LLC ("Renaissance" or the "Firm") is an investment management firm, founded
in 1982, that implements quantitative investment strategies on behalf of its clients. It acts as general
partner, managing member, and/or investment manager to U.S. and non-U.S. private investment funds (the
"Funds") and an institutional account ("Account") that invests in a variety of securities, futures, and
derivatives contracts.
Renaissance is owned by two parent companies: Renaissance Technologies Holdings Corporation (with
approximately a 78% stake) and RTC II Holdings LLC (with approximately a 22% stake). Each parent
company is, in turn, owned by current and certain former principals of the Firm and certain related persons.
Renaissance uses quantitative analysis, specifically, mathematical and statistical methods, to uncover
technical indicators that drive its automated trading systems. These systems, or models, are the product
of an extensive research effort by Renaissance's technical staff who hold advanced degrees in mathematics
and the sciences.
The Firm's quantitative analysis and trading activities are applied to mature, highly liquid, publicly traded
instruments in the following asset classes: U.S. and non-U.S. equities, debt instruments, futures, forwards,
and foreign exchange, as well as derivatives thereon.
Generally, the Firm provides its advisory services to affiliated collective investment pools that are part of
three distinct master-feeder fund structures (the "Fund Families"): (1) the Medallion Funds, which employ
a short-term, quantitative trading strategy across multiple asset classes; (2) the Renaissance Institutional
Equities Funds (the "RIEF Funds"), which employ a net-long trading strategy in U.S. and non-U.S. equity
securities that
are publicly traded on U.S. securities exchanges (and certain derivatives thereon); and (3)
the Renaissance Institutional Diversified Alpha Funds (the "RIDA Funds"), which trade equity securities that
are publicly traded on global securities exchanges and derivatives thereon.1 In addition, the Firm operates
Renaissance Kaleidoscope Fund LLC ("Kaleidoscope Fund"), a fund of funds for employee and employee-
related investors that currently invests in each of the Medallion, RIEF, and RIDA Fund Families.
Investors in each Fund Family choose among various feeder funds according to their domicile, tax status,
and other attributes. Within certain Funds, investors may also choose among various series that have
different fee structures and, in some cases, rights related to portfolio transparency. Beyond these offerings,
the Firm does not tailor its advisory services to individual investor requirements. For the Account, the Firm
accepts client-imposed investment guidelines and restrictions.
As of December 31, 2023, the Firm's regulatory assets under management totaled $89,259,682,162. All
assets are managed on a discretionary basis.
1 Effective December 31, 2023, RIDGE Master Trading L.P., which previously served as the trading subsidiary through which the
trading activities of a fourth fund family, the Renaissance Institutional Diversified Global Equities (“RIDGE”) Funds, were conducted,
merged with and into GF Trading LLC, the trading subsidiary for RIDA Fund LLC and RIDA Fund L.P. (the “RIDA Feeders”). The result
of the Merger was a single, combined trading subsidiary, GF Trading LLC, in which the RIDA Feeders and RIDGE Onshore Fund L.P.
and RIDGE Offshore Fund L.P. (the “RIDGE Feeders”) are invested. The RIDA Funds thus now include both the RIDA Feeders and
the RIDGE Feeders.