SEC 13F Intelligence

Managers / Q4 2023 · view latest →

TWO SIGMA INVESTMENTS, LP

CIK 0001179392 · Part of the Two Sigma family · 100 AVENUE OF THE AMERICAS, 16TH FLOOR, NEW YORK, NY, 10013 · (212) 625-5700

Reported Value
$43.5B
Q4 2023
Positions
3,116
Filings on Record
30
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Two Sigma Investments, LP reported $43.5B in U.S.-listed holdings across 3,116 positions for Q4 2023.

Its largest position, Spdr S P 500 Etf Tr, represents 3.1% of the portfolio.

Compared with Q3 2023, the fund opened 545 new positions and exited 374.

Portfolio Metrics

Turnover
+29.0%
vs prior filed quarter
Top-10 Concentration
+9.3%
share of reported value
Largest Position
+3.1%
Spdr S P 500 Etf Tr
New / Exited
545 / 374
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $25.5BQ4 ’18Q1 ’19: $30.8BQ2 ’19: $29.9BQ3 ’19: $29.7BQ4 ’19: $33.2BQ4 ’19Q1 ’20: $12.3BQ2 ’20: $20.2BQ3 ’20: $28.2BQ4 ’20: $34.9BQ4 ’20Q1 ’21: $38.4BQ2 ’21: $44.1BQ3 ’21: $44.7BQ4 ’21: $46.8BQ4 ’21Q1 ’22: $33.9BQ2 ’22: $30.3BQ3 ’22: $29.4BQ4 ’22: $31.9BQ4 ’22Q1 ’23: $35.0BQ2 ’23: $39.9BQ3 ’23: $37.2BQ4 ’23: $43.5BQ4 ’23Q1 ’24: $42.6BQ2 ’24: $43.9BQ3 ’24: $45.6BQ4 ’24: $45.9BQ4 ’24Q1 ’25: $46.8BQ2 ’25: $56.5BQ3 ’25: $67.2BQ4 ’25: $70.9BQ4 ’25Q1 ’26: $123.9Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 74.7%ETP: 10.9%Other: 7.1%US DOMESTIC: 3.6%ADR: 2.4%Other: 1.3%
  • Common Stock · 74.7% · $32.5B
  • ETP · 10.9% · $4.7B
  • Other · 7.1% · $3.1B
  • US DOMESTIC · 3.6% · $1.6B
  • ADR · 2.4% · $1.1B
  • Other · 1.3% · $555M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BDXBECTON DICKINSON & CONEW+732.3K732.3K+$179M$179M
SEDGSOLAREDGE TECHNOLOGIES INCNEW+1.15M1.15M+$108M$108M
SPDR SER TRNEW+759.6K759.6K+$104M$104M
OXYOCCIDENTAL PETE CORPNEW+1.25M1.25M+$74M$74M
ILMNILLUMINA INCNEW+532.6K532.6K+$74M$74M
SPDR SER TRNEW+964.2K964.2K+$58M$58M
ACWIISHARES TRNEW+557.8K557.8K+$57M$57M
EOGEOG RES INCNEW+431.4K431.4K+$52M$52M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR S&P 500 ETF TRTR UNIT3.09%$1.3B2.83M
2ISHARES TRCORE S&P500 ETF · RUSSELL 2000 ETF · RUS 1000 GRW ETF1.35%$589M2.02M
3NDQINVESCO QQQ TRhistory →UNIT SER 11.27%$553M1.35M
4MSFTMICROSOFT CORPhistory →COM0.64%$279M742.5K
5NVDANVIDIA CORPORATIONhistory →COM0.63%$276M556.7K
6MUMICRON TECHNOLOGY INChistory →COM0.63%$275M3.22M
7NFLXNETFLIX INChistory →COM0.62%$270M555.0K
8AAPLAPPLE INChistory →COM0.61%$266M1.38M
9VVISA INChistory →COM CL A0.61%$266M1.02M
10PYPLPAYPAL HLDGS INChistory →COM0.61%$264M4.31M
11PINSPINTEREST INChistory →CL A0.60%$263M7.09M
12RIVNRIVIAN AUTOMOTIVE INChistory →COM CL A0.59%$258M10.98M
13GOOGLALPHABET INChistory →CAP STK CL A0.59%$255M1.82M
14BMYBRISTOL-MYERS SQUIBB COhistory →COM0.58%$251M4.90M
15METAMETA PLATFORMS INChistory →CL A0.58%$251M709.7K
16AMZNAMAZON COM INChistory →COM0.57%$247M1.62M
17GMGENERAL MTRS COhistory →COM0.56%$244M6.79M
18MRKMERCK & CO INChistory →COM0.56%$243M2.23M
19SNOWSNOWFLAKE INChistory →CL A0.56%$242M1.22M
20XYZBLOCK INChistory →CL A0.55%$239M3.09M
21CCL1EURCARNIVAL CORPhistory →UNIT 99/99/99990.54%$234M12.64M
22UNHUNITEDHEALTH GROUP INChistory →COM0.53%$232M441.4K
23MAMASTERCARD INCORPORATEDhistory →CL A0.53%$232M544.6K
24COSTCOSTCO WHSL CORP NEWhistory →COM0.53%$229M347.7K
25LMTLOCKHEED MARTIN CORPhistory →COM0.53%$229M506.3K
26GISGENERAL MLS INChistory →COM0.51%$221M3.40M
27AFRMAFFIRM HLDGS INChistory →COM CL A0.51%$221M4.50M
28ROYAL CARIBBEAN GROUPNOTE 6.000% 8/10.50%$219M82.20M
29UUNITY SOFTWARE INChistory →COM0.50%$216M5.29M
30HSYHERSHEY COhistory →COM0.48%$211M1.13M
31AMDADVANCED MICRO DEVICES INChistory →COM0.48%$208M1.41M
32HUMHUMANA INChistory →COM0.47%$206M450.9K
33SELECT SECTOR SPDR TRTECHNOLOGY0.47%$203M1.06M
34ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A0.46%$202M2.81M
35PATHUIPATH INChistory →CL A0.46%$200M8.07M
36FTNTFORTINET INChistory →COM0.46%$199M3.39M
37DASHDOORDASH INChistory →CL A0.45%$197M1.99M
38KRKROGER COhistory →COM0.43%$187M4.09M
39BDXBECTON DICKINSON & COhistory →COM0.41%$179M732.3K
40HPEHEWLETT PACKARD ENTERPRISE Chistory →COM0.41%$178M10.48M
41BKNGBOOKING HOLDINGS INChistory →COM0.41%$176M49.8K
42SLBSCHLUMBERGER LTDhistory →COM STK0.40%$176M3.38M
43NETCLOUDFLARE INChistory →CL A COM0.40%$176M2.11M
44NEENEXTERA ENERGY INChistory →COM0.40%$175M2.88M
45RBLXROBLOX CORPhistory →CL A0.40%$174M3.81M
46PALO ALTO NETWORKS INCNOTE 0.375% 6/00.39%$170M57.50M
47DOCUDOCUSIGN INChistory →COM0.39%$170M2.86M
48ELLAUDER ESTEE COS INChistory →CL A0.39%$170M1.16M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$123.9B4,546May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$70.9B4,041Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$67.2B3,628Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$56.5B3,150Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$46.8B3,162May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$45.9B3,161Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$45.6B3,085Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$43.9B2,989Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$42.6B2,986May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$43.5B3,116Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$37.2B2,928Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$39.9B2,967Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$35.0B2,921May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$31.9B2,767Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$29.4B2,432Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$30.3B2,444Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$33.9B2,540May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$46.8B4,189Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$44.7B4,175Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$44.1B3,960Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$38.4B3,749May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$34.9B3,275Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$28.2B3,013Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$20.2B2,881Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$12.3B2,994May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$33.2B3,595Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$29.7B3,391Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$29.9B3,271Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$30.8B2,965May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$25.5B2,907Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 7 additional managers.

  • TWO SIGMA EQUITY PORTFOLIO LLC028-10704
  • TWO SIGMA SPECTRUM PORTFOLIO, LLC028-11144
  • Two Sigma Futures Portfolio, LLC028-16011
  • TWO SIGMA HORIZON PORTFOLIO, LLC028-15356
  • Two Sigma Equity Spectrum Portfolio, LLC028-20138
  • Two Sigma Blazar Portfolio, LLC028-23019
  • Two Sigma Navigator Portfolio, LLC028-23021

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.