SEC 13F Intelligence

Managers / Q4 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
$39.9B
Q4 2021
Positions
2,591
Filings on Record
31
2019–present window
Filed
Feb 14, 2022
original filing

Summary

Two Sigma Advisers, LP reported $39.9B in U.S.-listed holdings across 2,591 positions for Q4 2021.

Its largest position, MSFT, represents 2.3% of the portfolio.

Compared with Q3 2021, the fund opened 500 new positions and exited 327.

Portfolio Metrics

Turnover
+26.6%
vs prior filed quarter
Top-10 Concentration
+13.2%
share of reported value
Largest Position
+2.3%
Microsoft
New / Exited
500 / 327
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: 83.0%Other: 8.8%ETP: 4.6%ADR: 2.3%REIT: 1.3%Other: 0.0%
  • Common Stock · 83.0% · $33.1B
  • Other · 8.8% · $3.5B
  • ETP · 4.6% · $1.8B
  • ADR · 2.3% · $909M
  • REIT · 1.3% · $535M
  • Other · 0.0% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANVIDIA CORPORATIONNEW+1.26M1.26M+$370M$370M
AMDADVANCED MICRO DEVICES INCNEW+2.08M2.08M+$299M$299M
REGNREGENERON PHARMACEUTICALSNEW+388.5K388.5K+$245M$245M
NETCLOUDFLARE INCNEW+800.0K800.0K+$105M$105M
SPDR SER TRNEW+531.6K531.6K+$60M$60M
NFLXNETFLIX INCNEW+91.3K91.3K+$55M$55M
STONECO LTDNEW+3.16M3.16M+$53M$53M
EMNEASTMAN CHEM CONEW+426.6K426.6K+$52M$52M

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

Holdings — Q4 2021

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM2.33%$930M2.76M
2JNJJOHNSON & JOHNSONhistory →COM1.37%$545M3.19M
3VVISA INChistory →COM CL A1.34%$536M2.47M
4AAPLAPPLE INChistory →COM1.30%$521M2.93M
5LLYLILLY ELI & COhistory →COM1.23%$491M1.78M
6METAMETA PLATFORMS INChistory →CL A1.23%$490M1.46M
7KOCOCA COLA COhistory →COM1.19%$476M8.04M
8MEDTRONIC PLCSHS1.08%$432M4.17M
9CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A1.06%$425M651.8K
10BMYBRISTOL-MYERS SQUIBB COhistory →COM1.03%$413M6.62M
11SPGIS&P GLOBAL INChistory →COM1.03%$411M870.8K
12AMGNAMGEN INChistory →COM1.02%$407M1.81M
13TSLATESLA INChistory →COM1.02%$406M383.8K
14ZSZSCALER INChistory →COM0.97%$389M1.21M
15PFEPFIZER INChistory →COM0.96%$383M6.48M
16ATVIEURACTIVISION BLIZZARD INChistory →COM0.93%$373M5.61M
17NVDANVIDIA CORPORATIONhistory →COM0.93%$370M1.26M
18MRKMERCK & CO INChistory →COM0.90%$360M4.70M
19CATCATERPILLAR INChistory →COM0.90%$359M1.74M
20ATLASSIAN CORP PLCCL A0.90%$358M939.5K
21BSXBOSTON SCIENTIFIC CORPhistory →COM0.89%$356M8.38M
22CERNCHFCERNER CORPhistory →COM0.87%$349M3.76M
23DDOGDATADOG INChistory →CL A COM0.86%$344M1.93M
24PYPLPAYPAL HLDGS INChistory →COM0.81%$324M1.72M
25ETSYETSY INChistory →COM0.80%$318M1.45M
26INTCINTEL CORPhistory →COM0.79%$315M6.11M
27MAMASTERCARD INCORPORATEDhistory →CL A0.79%$314M875.2K
28FTNTFORTINET INChistory →COM0.79%$314M872.4K
29CSXCSX CORPhistory →COM0.78%$309M8.23M
30AMDADVANCED MICRO DEVICES INChistory →COM0.75%$299M2.08M
31TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.73%$291M435.5K
32ABBVABBVIE INChistory →COM0.71%$285M2.11M
33ORCLORACLE CORPhistory →COM0.70%$279M3.20M
34PANWPALO ALTO NETWORKS INChistory →COM0.69%$277M497.3K
35HONGBPHONEYWELL INTL INChistory →COM0.68%$273M1.31M
36FCXFREEPORT-MCMORAN INChistory →CL B0.67%$269M6.45M
37ILMNILLUMINA INChistory →COM0.67%$267M702.4K
38CRWDCROWDSTRIKE HLDGS INChistory →CL A0.66%$264M1.29M
39BAXBAXTER INTL INChistory →COM0.64%$254M2.96M
40NVSNNOVARTIS AGhistory →SPONSORED ADR0.63%$251M2.87M
41TRVCCITIGROUP INChistory →COM NEW0.63%$251M4.15M
42EMREMERSON ELEC COhistory →COM0.63%$250M2.69M
43GILDGILEAD SCIENCES INChistory →COM0.63%$250M3.44M
44GOOGLALPHABET INChistory →CAP STK CL A0.62%$246M84.9K
45REGNREGENERON PHARMACEUTICALShistory →COM0.61%$245M388.5K
46EWEDWARDS LIFESCIENCES CORPhistory →COM0.61%$243M1.88M
47MDLZMONDELEZ INTL INChistory →CL A0.60%$239M3.60M
48DC4DEXCOM INChistory →COM0.59%$237M441.4K
49CMCSACOMCAST CORP NEWhistory →CL A0.55%$221M4.38M
50MCHPMICROCHIP TECHNOLOGY INC.history →COM0.53%$212M2.43M

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 6 additional managers.

  • 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 ↗.