SEC 13F Intelligence

Managers / Q4 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
$37.4B
Q4 2020
Positions
2,357
Filings on Record
31
2019–present window
Filed
Feb 16, 2021
original filing

Summary

Two Sigma Advisers, LP reported $37.4B in U.S.-listed holdings across 2,357 positions for Q4 2020.

Its largest position, MSFT, represents 1.8% of the portfolio.

Compared with Q3 2020, the fund opened 359 new positions and exited 376.

Portfolio Metrics

Turnover
+23.3%
vs prior filed quarter
Top-10 Concentration
+11.9%
share of reported value
Largest Position
+1.8%
Microsoft
New / Exited
359 / 376
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: 85.6%Other: 4.6%ETP: 4.2%REIT: 3.1%ADR: 2.3%Other: 0.1%
  • Common Stock · 85.6% · $32.1B
  • Other · 4.6% · $1.7B
  • ETP · 4.2% · $1.6B
  • REIT · 3.1% · $1.2B
  • ADR · 2.3% · $849M
  • Other · 0.1% · $27M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANVIDIA CORPORATIONNEW+653.3K653.3K+$341M$341M
MUMICRON TECHNOLOGY INCNEW+1.57M1.57M+$118M$118M
TIFEURTIFFANY & CO NEWNEW+746.1K746.1K+$98M$98M
NDQINVESCO QQQ TRNEW+124.4K124.4K+$39M$39M
VERVEREIT INCNEW+944.3K944.3K+$36M$36M
ISHARES TRNEW+456.2K456.2K+$25M$25M
VNTVONTIER CORPORATIONNEW+685.7K685.7K+$23M$23M
ROYAL CARIBBEAN GROUPNEW+296.4K296.4K+$22M$22M

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

Holdings — Q4 2020

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1XLUSELECT SECTOR SPDR TRSBI INT-UTILS · SBI CONS STPLS · SBI CONS DISCR1.96%$735M9.28M
2MSFTMICROSOFT CORPhistory →COM1.82%$680M3.06M
3METAFACEBOOK INChistory →CL A1.26%$470M1.72M
4CSCOCISCO SYS INChistory →COM1.20%$451M10.08M
5AMZNAMAZON COM INChistory →COM1.15%$430M131.9K
6VVISA INChistory →COM CL A1.14%$427M1.95M
7DYHTARGET CORPhistory →COM1.11%$417M2.36M
8HDHOME DEPOT INChistory →COM1.10%$412M1.55M
9ABBVABBVIE INChistory →COM1.05%$392M3.66M
10MRKMERCK & CO. INChistory →COM1.04%$388M4.74M
11ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A1.02%$380M1.13M
12CRWDCROWDSTRIKE HLDGS INChistory →CL A1.00%$375M1.77M
13MCDMCDONALDS CORPhistory →COM0.98%$367M1.71M
14LOWLOWES COS INChistory →COM0.97%$362M2.25M
15LMTLOCKHEED MARTIN CORPhistory →COM0.93%$347M976.7K
16PTONPELOTON INTERACTIVE INChistory →CL A COM0.91%$342M2.26M
17NVDANVIDIA CORPORATIONhistory →COM0.91%$341M653.3K
18NIONIO INChistory →SPON ADS0.87%$327M6.72M
19PEPPEPSICO INChistory →COM0.79%$298M2.01M
20PGPROCTER AND GAMBLE COhistory →COM0.78%$293M2.10M
21CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.78%$291M439.6K
22ELVANTHEM INChistory →COM0.75%$279M868.9K
23WFCWELLS FARGO CO NEWhistory →COM0.74%$279M9.23M
24ETSYETSY INChistory →COM0.73%$273M1.53M
25PFEPFIZER INChistory →COM0.72%$269M7.30M
26BACVERIZON COMMUNICATIONS INChistory →COM0.72%$269M4.57M
27SNAPSNAP INChistory →CL A0.71%$268M5.34M
28COSTCOSTCO WHSL CORP NEWhistory →COM0.67%$251M666.3K
29AAPLAPPLE INChistory →COM0.67%$250M1.89M
30KMBKIMBERLY-CLARK CORPhistory →COM0.67%$250M1.85M
31NFLXNETFLIX INChistory →COM0.67%$249M461.2K
32BAXBAXTER INTL INChistory →COM0.66%$248M3.08M
33XYZSQUARE INChistory →CL A0.64%$241M1.11M
34WWAYFAIR INChistory →CL A0.63%$236M1.04M
35NKENIKE INChistory →CL B0.61%$229M1.62M
36KOCOCA COLA COhistory →COM0.60%$226M4.12M
37SPDR S&P 500 ETF TRTR UNIT0.60%$223M596.6K
38OPTUALTICE USA INChistory →CL A0.59%$221M5.83M
39WMTWALMART INChistory →COM0.55%$206M1.43M
40PINSPINTEREST INChistory →CL A0.54%$201M3.05M
41AMTAMERICAN TOWER CORP NEWhistory →COM0.51%$191M851.8K
42EBAEBAY INC.history →COM0.51%$189M3.77M
43ZSZSCALER INChistory →COM0.50%$187M935.6K
44CB1ACONSTELLATION BRANDS INChistory →CL A0.49%$183M837.7K
45EOGEOG RES INChistory →COM0.48%$179M3.60M
46ADPAUTOMATIC DATA PROCESSING INhistory →COM0.47%$177M1.00M
47GISGENERAL MLS INChistory →COM0.47%$175M2.98M
48RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.46%$173M2.42M

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 ↗.