Hedge fund reduces Palantir holdings to under 7 million shares amid strong AI-driven revenue growth in US commercial and government sectors.
Renaissance Technologies reduced its stake in Palantir Technologies Inc. (PLTR) by over 20% in Q1 2026, trimming holdings to just under 7 million shares. The fund had previously built its position to 47 million shares by early 2024 before beginning the reduction.
Palantir reported robust Q1 2026 results, with US commercial revenue surging 133% year-over-year to $595 million. US government revenue grew 84% to $687 million, accelerating from 66% growth in the prior quarter. Trailing 12-month US commercial TCV bookings reached $4.7 billion, up 115% year-over-year.
The company’s AI platform and bootcamp strategy continue to drive customer growth, with total commercial customers rising 31% year-over-year to 1,007 on a trailing basis.