SEC 13F Intelligence

Managers / Q3 2021 · 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
$38.6B
Q3 2021
Positions
2,418
Filings on Record
31
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Two Sigma Advisers, LP reported $38.6B in U.S.-listed holdings across 2,418 positions for Q3 2021.

Its largest position, MSFT, represents 2.4% of the portfolio.

Compared with Q2 2021, the fund opened 406 new positions and exited 406.

Portfolio Metrics

Turnover
+35.7%
vs prior filed quarter
Top-10 Concentration
+13.5%
share of reported value
Largest Position
+2.4%
Microsoft
New / Exited
406 / 406
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: 81.8%Other: 9.2%ETP: 4.4%ADR: 3.1%REIT: 1.6%Other: 0.0%
  • Common Stock · 81.8% · $31.5B
  • Other · 9.2% · $3.6B
  • ETP · 4.4% · $1.7B
  • ADR · 3.1% · $1.2B
  • REIT · 1.6% · $607M
  • Other · 0.0% · $12M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DHRDANAHER CORPORATIONNEW+1.11M1.11M+$337M$337M
AG8AGILENT TECHNOLOGIES INCNEW+1.45M1.45M+$228M$228M
UPSTUPSTART HLDGS INCNEW+531.9K531.9K+$168M$168M
ADPAUTOMATIC DATA PROCESSING INNEW+618.0K618.0K+$124M$124M
BEKEKE HLDGS INCNEW+6.32M6.32M+$115M$115M
CLXCLOROX CO DELNEW+502.9K502.9K+$83M$83M
RMERESMED INCNEW+279.4K279.4K+$74M$74M
ISHARES TRNEW+398.1K398.1K+$64M$64M

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

Holdings — Q3 2021

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM2.44%$943M3.35M
2GOOGLALPHABET INChistory →CAP STK CL A1.56%$604M225.8K
3SELECT SECTOR SPDR TRTECHNOLOGY · SBI HEALTHCARE · SBI CONS STPLS1.40%$540M5.23M
4JNJJOHNSON & JOHNSONhistory →COM1.37%$528M3.27M
5VVISA INChistory →COM CL A1.29%$499M2.24M
6MRKMERCK & CO INChistory →COM1.22%$472M6.28M
7LLYLILLY ELI & COhistory →COM1.21%$468M2.03M
8INTCINTEL CORPhistory →COM1.15%$444M8.33M
9AAPLAPPLE INChistory →COM1.15%$442M3.12M
10METAFACEBOOK INChistory →CL A1.05%$404M1.19M
11CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A1.04%$402M552.9K
12CRWDCROWDSTRIKE HLDGS INChistory →CL A1.03%$399M1.62M
13AMGNAMGEN INChistory →COM1.02%$394M1.85M
14BMYBRISTOL-MYERS SQUIBB COhistory →COM1.01%$391M6.60M
15QCOMQUALCOMM INChistory →COM1.01%$389M3.02M
16MDLZMONDELEZ INTL INChistory →CL A1.00%$386M6.63M
17CATCATERPILLAR INChistory →COM1.00%$384M2.00M
18SNAPSNAP INChistory →CL A0.98%$379M5.13M
19PANWPALO ALTO NETWORKS INChistory →COM0.97%$375M783.6K
20MEDTRONIC PLCSHS0.97%$373M2.98M
21BSXBOSTON SCIENTIFIC CORPhistory →COM0.91%$351M8.08M
22KOCOCA COLA COhistory →COM0.88%$340M6.49M
23TAT&T INChistory →COM0.88%$339M12.56M
24DHRDANAHER CORPORATIONhistory →COM0.87%$337M1.11M
25ORCLORACLE CORPhistory →COM0.87%$337M3.86M
26GILDGILEAD SCIENCES INChistory →COM0.86%$330M4.73M
27ISRGINTUITIVE SURGICAL INChistory →COM NEW0.80%$308M309.6K
28BAXBAXTER INTL INChistory →COM0.80%$307M3.82M
29FCXFREEPORT-MCMORAN INChistory →CL B0.77%$297M9.13M
30BIDUNBAIDU INChistory →SPON ADR REP A0.76%$295M1.92M
31ADIANALOG DEVICES INChistory →COM0.73%$283M1.69M
32ZSZSCALER INChistory →COM0.73%$280M1.07M
33SPGIS&P GLOBAL INChistory →COM0.70%$271M637.7K
34CSXCSX CORPhistory →COM0.70%$269M9.05M
35ILMNILLUMINA INChistory →COM0.68%$261M643.4K
36TRVCCITIGROUP INChistory →COM NEW0.66%$256M3.65M
37ABTABBOTT LABShistory →COM0.63%$242M2.05M
38MAMASTERCARD INCORPORATEDhistory →CL A0.62%$240M689.4K
39FTNTFORTINET INChistory →COM0.62%$239M818.2K
40AG8AGILENT TECHNOLOGIES INChistory →COM0.59%$228M1.45M
41ELVANTHEM INChistory →COM0.59%$227M608.6K
42ETSYETSY INChistory →COM0.58%$225M1.08M
43MCHPMICROCHIP TECHNOLOGY INC.history →COM0.56%$216M1.40M
44AMZNAMAZON COM INChistory →COM0.56%$214M65.2K
45EWEDWARDS LIFESCIENCES CORPhistory →COM0.53%$205M1.81M
46VMWEURVMWARE INChistory →CL A COM0.51%$196M1.32M
47DKNG1USDDRAFTKINGS INChistory →COM CL A0.48%$183M3.81M
48NDQINVESCO QQQ TRhistory →UNIT SER 10.47%$182M507.3K

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 ↗.