SEC 13F Intelligence

Managers / Q4 2019 · view latest →

TWO SIGMA ADVISERS, LP

CIK 0001478735 · Part of the Two Sigma family · 100 AVENUE OF THE AMERICAS, 16TH FLOOR, NEW YORK, NY, 10013 · 212-625-5700

Reported Value
$43.1B
Q4 2019
Positions
2,336
Filings on Record
31
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Two Sigma Advisers, LP reported $43.1B in U.S.-listed holdings across 2,336 positions for Q4 2019.

Its largest position, AMZN, represents 1.5% of the portfolio.

Compared with Q3 2019, the fund opened 378 new positions and exited 240.

Portfolio Metrics

Turnover
+21.5%
vs prior filed quarter
Top-10 Concentration
+11.8%
share of reported value
Largest Position
+1.5%
Amazon Com
New / Exited
378 / 240
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: $36.6BQ4 ’18Q1 ’19: $39.7BQ2 ’19: $40.2BQ3 ’19: $40.9BQ4 ’19: $43.1BQ4 ’19Q1 ’20: $26.1BQ2 ’20: $34.6BQ3 ’20: $35.0BQ4 ’20: $37.4BQ4 ’20Q1 ’21: $36.4BQ2 ’21: $37.9BQ3 ’21: $38.6BQ4 ’21: $39.9BQ4 ’21Q1 ’22: $37.6BQ2 ’22: $35.3BQ3 ’22: $34.5BQ4 ’22: $35.8BQ4 ’22Q1 ’23: $38.8BQ2 ’23: $39.3BQ3 ’23: $39.0BQ4 ’23: $42.7BQ4 ’23Q1 ’24: $43.2BQ2 ’24: $44.8BQ3 ’24: $42.7BQ4 ’24: $43.2BQ4 ’24Q1 ’25: $44.4BQ2 ’25: $48.8BQ3 ’25: $50.0BQ4 ’25: $51.4BQ4 ’25Q1 ’26: $0filingsflow.com

Portfolio Composition

By security type
Common Stock: 84.7%Other: 6.2%ETP: 4.7%REIT: 2.6%ADR: 1.7%Other: 0.1%
  • Common Stock · 84.7% · $36.5B
  • Other · 6.2% · $2.7B
  • ETP · 4.7% · $2.0B
  • REIT · 2.6% · $1.1B
  • ADR · 1.7% · $714M
  • Other · 0.1% · $33M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NFLXNETFLIX INCNEW+546.5K546.5K+$177M$177M
ALLERGAN PLCNEW+561.2K561.2K+$107M$107M
TFCTRUIST FINL CORPNEW+1.65M1.65M+$93M$93M
DHID R HORTON INCNEW+1.68M1.68M+$89M$89M
WELLCARE HEALTH PLANS INCNEW+151.6K151.6K+$50M$50M
GENNORTONLIFELOCK INCNEW+1.87M1.87M+$48M$48M
MUMICRON TECHNOLOGY INCNEW+686.6K686.6K+$37M$37M
GENERAL ELECTRIC CONEW+3.19M3.19M+$36M$36M

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

Holdings — Q4 2019

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1XLUSELECT SECTOR SPDR TRSBI CONS DISCR · SBI HEALTHCARE · SBI INT-UTILS2.52%$1.1B11.86M
2AMZNAMAZON COM INChistory →COM1.45%$627M339.2K
3JNJJOHNSON & JOHNSONhistory →COM1.34%$578M3.96M
4CSCOCISCO SYS INChistory →COM1.27%$548M11.43M
5ABBVABBVIE INChistory →COM1.17%$506M5.71M
6VVISA INChistory →COM CL A1.13%$486M2.59M
7METAFACEBOOK INChistory →CL A1.12%$484M2.36M
8MRKMERCK & CO INChistory →COM1.12%$481M5.29M
9COSTCOSTCO WHSL CORP NEWhistory →COM1.10%$475M1.61M
10SBUXSTARBUCKS CORPhistory →COM1.10%$473M5.38M
11PFEPFIZER INChistory →COM1.04%$449M11.45M
12HDHOME DEPOT INChistory →COM1.02%$438M2.01M
13BMYBRISTOL MYERS SQUIBB COhistory →COM0.97%$417M6.50M
14MCDMCDONALDS CORPhistory →COM0.95%$409M2.07M
15LOWLOWES COS INChistory →COM0.88%$381M3.18M
16LMTLOCKHEED MARTIN CORPhistory →COM0.86%$371M952.6K
17QCOMQUALCOMM INChistory →COM0.84%$362M4.10M
18MMM3M COhistory →COM0.76%$329M1.87M
19LRCXEURLAM RESEARCH CORPhistory →COM0.76%$329M1.12M
20CHVCHEVRON CORP NEWhistory →COM0.76%$327M2.71M
21EBAEBAY INChistory →COM0.75%$321M8.89M
22CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.71%$307M633.3K
23EOGEOG RES INChistory →COM0.71%$307M3.66M
24ADSKAUTODESK INChistory →COM0.70%$302M1.65M
25ADPAUTOMATIC DATA PROCESSING INhistory →COM0.70%$300M1.76M
26DALDELTA AIR LINES INC DELhistory →COM NEW0.68%$292M4.99M
27PEOEXELON CORPhistory →COM0.67%$289M6.34M
28HUMHUMANA INChistory →COM0.64%$277M755.2K
29CMCSACOMCAST CORP NEWhistory →CL A0.64%$276M6.14M
30SPDR S&P 500 ETF TRTR UNIT0.64%$276M856.5K
31DGDOLLAR GEN CORP NEWhistory →COM0.63%$273M1.75M
32VRTXVERTEX PHARMACEUTICALS INChistory →COM0.61%$264M1.20M
33HONGBPHONEYWELL INTL INChistory →COM0.60%$259M1.46M
34RTN1USDRAYTHEON COhistory →COM NEW0.59%$255M1.16M
35INTCINTEL CORPhistory →COM0.59%$255M4.26M
36AMATAPPLIED MATLS INChistory →COM0.54%$234M3.83M
37HLTHILTON WORLDWIDE HLDGS INChistory →COM0.53%$230M2.08M
38ELVANTHEM INChistory →COM0.51%$219M725.7K
39LLYLILLY ELI & COhistory →COM0.50%$218M1.66M
40EXMOCEXXON MOBIL CORPhistory →COM0.50%$217M3.11M
41WBAWALGREENS BOOTS ALLIANCE INChistory →COM0.49%$213M3.61M
42FIAT CHRYSLER AUTOMOBILES NSHS0.49%$211M14.35M
43GILDGILEAD SCIENCES INChistory →COM0.48%$209M3.21M
44QSRRESTAURANT BRANDS INTL INChistory →COM0.46%$200M3.13M
45SYYSYSCO CORPhistory →COM0.46%$198M2.32M
46CSXCSX CORPhistory →COM0.45%$195M2.70M
47SHOPSHOPIFY INChistory →CL A0.45%$193M484.6K
48SHWSHERWIN WILLIAMS COhistory →COM0.44%$189M323.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$01May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$51.4B2,329Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$50.0B2,311Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$48.8B2,300Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$44.4B2,360May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$43.2B2,329Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$42.7B2,260Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$44.8B2,414Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$43.2B2,431May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$42.7B2,480Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$39.0B2,362Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$39.3B2,357Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$38.8B2,568May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$35.8B2,493Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$34.5B2,518Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$35.3B2,619Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$37.6B2,714May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$39.9B2,591Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$38.6B2,418Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$37.9B2,418Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$36.4B2,526May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$37.4B2,357Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$35.0B2,374Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$34.6B2,475Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$26.1B2,439May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$43.1B2,336Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$40.9B2,198Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$40.2B2,294Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$39.7B2,275May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$36.6B2,334Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 7 additional managers.

  • Two Sigma U.S. All Cap Core Equity Fund, LP028-14405
  • TWO SIGMA ABSOLUTE RETURN PORTFOLIO, LLC028-15367
  • TWO SIGMA ACTIVE EXTENSION U.S. ALL CAP EQUITY PORTFOLIO, LLC028-15404
  • Two Sigma Active Extension U.S. Small Cap Equity Fund, LP028-15364
  • Two Sigma Macro Portfolio, LLC028-16751
  • Two Sigma World Core Fund, LP028-17350
  • Two Sigma Equity Risk Premia Portfolio, LLC028-17346

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 ↗.