SEC 13F Intelligence

Managers / Q1 2020 · 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
$26.1B
Q1 2020
Positions
2,439
Filings on Record
31
2019–present window
Filed
May 15, 2020
original filing

Summary

Two Sigma Advisers, LP reported $26.1B in U.S.-listed holdings across 2,439 positions for Q1 2020.

Its largest position, AMZN, represents 1.7% of the portfolio.

Compared with Q4 2019, the fund opened 348 new positions and exited 245.

Portfolio Metrics

Turnover
+13.8%
vs prior filed quarter
Top-10 Concentration
+12.4%
share of reported value
Largest Position
+1.7%
Amazon Com
New / Exited
348 / 245
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: 86.0%Other: 5.7%REIT: 3.4%ETP: 3.4%ADR: 1.4%Other: 0.1%
  • Common Stock · 86.0% · $22.5B
  • Other · 5.7% · $1.5B
  • REIT · 3.4% · $900M
  • ETP · 3.4% · $883M
  • ADR · 1.4% · $367M
  • Other · 0.1% · $26M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BRK/BBERKSHIRE HATHAWAY INC DELNEW+804.1K804.1K+$147M$147M
TSLATESLA INCNEW+191.9K191.9K+$101M$101M
WFCWELLS FARGO CO NEWNEW+2.35M2.35M+$68M$68M
BACBK OF AMERICA CORPNEW+2.58M2.58M+$55M$55M
ESSESSEX PPTY TR INCNEW+246.3K246.3K+$54M$54M
TAT&T INCNEW+1.85M1.85M+$54M$54M
DLTRDOLLAR TREE INCNEW+428.7K428.7K+$31M$31M
GRUBHUB INCNEW+751.7K751.7K+$31M$31M

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

Holdings — Q1 2020

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1XLUSELECT SECTOR SPDR TRSBI CONS STPLS · SBI CONS DISCR · SBI HEALTHCARE · SBI INT-UTILS2.01%$524M7.57M
2AMZNAMAZON COM INChistory →COM1.73%$451M231.5K
3MSFTMICROSOFT CORPhistory →COM1.31%$343M2.18M
4MRKMERCK & CO. INChistory →COM1.31%$343M4.46M
5VVISA INChistory →COM CL A1.31%$343M2.13M
6AAPLAPPLE INChistory →COM1.26%$330M1.30M
7CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A1.19%$312M714.0K
8HDHOME DEPOT INChistory →COM1.19%$311M1.66M
9BACVERIZON COMMUNICATIONS INChistory →COM1.06%$278M5.18M
10KOCOCA COLA COhistory →COM1.03%$270M6.10M
11VRTXVERTEX PHARMACEUTICALS INChistory →COM1.00%$262M1.10M
12PEOEXELON CORPhistory →COM0.88%$229M6.21M
13PFEPFIZER INChistory →COM0.79%$207M6.33M
14ABBVABBVIE INChistory →COM0.76%$198M2.60M
15SBUXSTARBUCKS CORPhistory →COM0.76%$198M3.01M
16HUMHUMANA INChistory →COM0.76%$197M628.7K
17LLYLILLY ELI & COhistory →COM0.74%$192M1.39M
18JPMJPMORGAN CHASE & COhistory →COM0.73%$191M2.13M
19ADSKAUTODESK INChistory →COM0.67%$176M1.13M
20COSTCOSTCO WHSL CORP NEWhistory →COM0.65%$170M597.3K
21UNPUNION PAC CORPhistory →COM0.63%$164M1.17M
22ADPAUTOMATIC DATA PROCESSING INhistory →COM0.62%$161M1.18M
23CSCOCISCO SYS INChistory →COM0.61%$158M4.03M
24JNJJOHNSON & JOHNSONhistory →COM0.60%$157M1.20M
25MDLZMONDELEZ INTL INChistory →CL A0.59%$155M3.10M
26DGDOLLAR GEN CORP NEWhistory →COM0.59%$153M1.02M
27PGPROCTER & GAMBLE COhistory →COM0.58%$151M1.37M
28INTCINTEL CORPhistory →COM0.56%$148M2.73M
29BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.56%$147M804.1K
30SPGIS&P GLOBAL INChistory →COM0.54%$142M579.5K
31RTN1USDRAYTHEON COhistory →COM NEW0.53%$137M1.05M
32NVDANVIDIA CORPhistory →COM0.49%$127M482.2K
33MOALTRIA GROUP INChistory →COM0.48%$126M3.25M
34DUKDUKE ENERGY CORP NEWhistory →COM NEW0.48%$125M1.55M
35QSRRESTAURANT BRANDS INTL INChistory →COM0.48%$125M3.11M
36LRCXEURLAM RESEARCH CORPhistory →COM0.45%$118M490.2K
37PEGPUBLIC SVC ENTERPRISE GRP INhistory →COM0.45%$117M2.62M
38SHOPSHOPIFY INChistory →CL A0.45%$116M279.0K
39EAELECTRONIC ARTS INChistory →COM0.44%$114M1.14M
40ADBEADOBE INChistory →COM0.44%$114M357.5K
41EOGEOG RES INChistory →COM0.43%$113M3.14M
42METAFACEBOOK INChistory →CL A0.43%$111M666.3K
43DYHTARGET CORPhistory →COM0.42%$111M1.19M
44LMTLOCKHEED MARTIN CORPhistory →COM0.41%$107M314.9K
45ISHARES TRMSCI MIN VOL ETF0.41%$107M1.97M
46NOWSERVICENOW INChistory →COM0.40%$105M367.8K
47ZTSZOETIS INChistory →CL A0.39%$101M860.6K

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 ↗.