Core Insights - Renaissance Group has made significant portfolio adjustments, indicating a strong focus on streaming, AI infrastructure, and enterprise software as key investment areas [1]. Group 1: Portfolio Changes - Renaissance increased its stake in Netflix by nearly 900% quarter-over-quarter, raising holdings to 355,377 shares, despite a 22% decline in the dollar value of the position due to price fluctuations [2]. - The fund's investment in Lam Research surged by over 1,800%, making it one of the fastest-growing positions, reflecting increased confidence in AI-related semiconductor infrastructure [3]. - ServiceNow also saw a substantial increase in holdings, with Renaissance boosting its position by more than 400%, aligning with the trend towards enterprise software and automation [3]. Group 2: Investment Themes - The portfolio reshuffle emphasizes a strategic shift towards high-growth technology enablers rather than solely consumer-facing platforms [4]. - The moves highlight institutional confidence in streaming platforms with pricing power, semiconductor equipment supporting AI growth, and enterprise cloud software [5]. - The current investment landscape suggests that hedge funds are increasingly focusing on AI infrastructure and technology-driven platforms while exploring new sector opportunities [5].