SEC 13F Intelligence

Managers / Q3 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
$35.0B
Q3 2020
Positions
2,374
Filings on Record
31
2019–present window
Filed
Nov 16, 2020
original filing

Summary

Two Sigma Advisers, LP reported $35.0B in U.S.-listed holdings across 2,374 positions for Q3 2020.

Its largest position, MSFT, represents 2.0% of the portfolio.

Compared with Q2 2020, the fund opened 301 new positions and exited 402.

Portfolio Metrics

Turnover
+25.6%
vs prior filed quarter
Top-10 Concentration
+12.6%
share of reported value
Largest Position
+2.0%
Microsoft
New / Exited
301 / 402
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: 87.5%Other: 4.7%REIT: 2.9%ETP: 2.8%ADR: 2.0%Other: 0.1%
  • Common Stock · 87.5% · $30.6B
  • Other · 4.7% · $1.6B
  • REIT · 2.9% · $1.0B
  • ETP · 2.8% · $987M
  • ADR · 2.0% · $716M
  • Other · 0.1% · $20M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
COSTCOSTCO WHSL CORP NEWNEW+811.6K811.6K+$288M$288M
BABOEING CONEW+1.22M1.22M+$201M$201M
NIONIO INCNEW+5.76M5.76M+$122M$122M
XLESELECT SECTOR SPDR TRNEW+2.56M2.56M+$77M$77M
PTONPELOTON INTERACTIVE INCNEW+337.2K337.2K+$33M$33M
OLLIOLLIES BARGAIN OUTLET HLDGSNEW+376.0K376.0K+$33M$33M
DOCUDOCUSIGN INCNEW+148.2K148.2K+$32M$32M
CHGGCHEGG INCNEW+333.9K333.9K+$24M$24M

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

Holdings — Q3 2020

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM2.05%$717M3.41M
2HDHOME DEPOT INChistory →COM1.38%$482M1.74M
3LOWLOWES COS INChistory →COM1.26%$440M2.65M
4CSCOCISCO SYS INChistory →COM1.24%$434M11.01M
5DYHTARGET CORPhistory →COM1.24%$433M2.75M
6TSLATESLA INChistory →COM1.17%$410M955.9K
7ABBVABBVIE INChistory →COM1.09%$381M4.35M
8PGPROCTER AND GAMBLE COhistory →COM1.09%$381M2.74M
9MRKMERCK & CO. INChistory →COM1.06%$372M4.48M
10PYPLPAYPAL HLDGS INChistory →COM1.05%$369M1.87M
11PFEPFIZER INChistory →COM1.05%$369M10.04M
12CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A1.02%$356M570.0K
13BACVERIZON COMMUNICATIONS INChistory →COM1.00%$349M5.87M
14PEPPEPSICO INChistory →COM0.95%$332M2.40M
15BMYBRISTOL-MYERS SQUIBB COhistory →COM0.90%$315M5.23M
16VVISA INChistory →COM CL A0.89%$313M1.56M
17LLYLILLY ELI & COhistory →COM0.88%$309M2.09M
18KOCOCA COLA COhistory →COM0.85%$296M5.99M
19COSTCOSTCO WHSL CORP NEWhistory →COM0.82%$288M811.6K
20WWAYFAIR INChistory →CL A0.82%$286M982.3K
21LMTLOCKHEED MARTIN CORPhistory →COM0.82%$286M745.1K
22CRWDCROWDSTRIKE HLDGS INChistory →CL A0.81%$284M2.07M
23ETSYETSY INChistory →COM0.77%$271M2.23M
24XYZSQUARE INChistory →CL A0.76%$266M1.64M
25QCOMQUALCOMM INChistory →COM0.73%$257M2.18M
26ELVANTHEM INChistory →COM0.73%$256M954.6K
27WFCWELLS FARGO CO NEWhistory →COM0.68%$239M10.17M
28SELECT SECTOR SPDR TRSBI CONS STPLS0.65%$229M3.58M
29AMZNAMAZON COM INChistory →COM0.65%$226M71.8K
30PEOEXELON CORPhistory →COM0.64%$223M6.24M
31NKENIKE INChistory →CL B0.63%$220M1.75M
32AAPLAPPLE INChistory →COM0.62%$218M1.88M
33HUMHUMANA INChistory →COM0.62%$217M525.0K
34EBAEBAY INC.history →COM0.62%$216M4.14M
35GISGENERAL MLS INChistory →COM0.61%$213M3.45M
36VRTXVERTEX PHARMACEUTICALS INChistory →COM0.60%$212M777.6K
37KMBKIMBERLY CLARK CORPhistory →COM0.59%$207M1.40M
38ADPAUTOMATIC DATA PROCESSING INhistory →COM0.58%$205M1.47M
39ADSKAUTODESK INChistory →COM0.58%$204M882.0K
40BAXBAXTER INTL INChistory →COM0.58%$203M2.52M
41BBYBEST BUY INChistory →COM0.58%$203M1.82M
42METAFACEBOOK INChistory →CL A0.57%$201M767.8K
43BABOEING COhistory →COM0.57%$201M1.22M
44MEDTRONIC PLCSHS0.57%$198M1.90M
45DHRDANAHER CORPORATIONhistory →COM0.54%$189M876.0K
46ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A0.53%$185M394.3K
47ORLYOREILLY AUTOMOTIVE INChistory →COM0.52%$181M393.5K
48DUKDUKE ENERGY CORP NEWhistory →COM NEW0.50%$176M1.98M
49MCDMCDONALDS CORPhistory →COM0.50%$175M797.2K
50MDLZMONDELEZ INTL INChistory →CL A0.48%$167M2.91M

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 ↗.