SEC 13F Intelligence

Managers / Q1 2023 · 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
$38.8B
Q1 2023
Positions
2,568
Filings on Record
31
2019–present window
Filed
May 15, 2023
original filing

Summary

Two Sigma Advisers, LP reported $38.8B in U.S.-listed holdings across 2,568 positions for Q1 2023.

Its largest position, AMZN, represents 1.6% of the portfolio.

Compared with Q4 2022, the fund opened 373 new positions and exited 298.

Portfolio Metrics

Turnover
+22.9%
vs prior filed quarter
Top-10 Concentration
+12.3%
share of reported value
Largest Position
+1.6%
Amazon Com
New / Exited
373 / 298
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: 85.0%Other: 7.9%ETP: 2.7%ADR: 2.7%REIT: 1.5%Other: 0.3%
  • Common Stock · 85.0% · $32.9B
  • Other · 7.9% · $3.1B
  • ETP · 2.7% · $1.1B
  • ADR · 2.7% · $1.0B
  • REIT · 1.5% · $582M
  • Other · 0.3% · $102M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NFLXNETFLIX INCNEW+1.17M1.17M+$405M$405M
FFORD MTR CO DELNEW+27.13M27.13M+$342M$342M
WMTWALMART INCNEW+1.84M1.84M+$271M$271M
LINDE PLCNEW+382.5K382.5K+$136M$136M
SELECT SECTOR SPDR TRNEW+1.61M1.61M+$121M$121M
XLUSELECT SECTOR SPDR TRNEW+1.42M1.42M+$96M$96M
SBUXSTARBUCKS CORPNEW+805.4K805.4K+$84M$84M
FRONTLINE PLCNEW+4.68M4.68M+$78M$78M

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

Holdings — Q1 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMZNAMAZON COM INChistory →COM1.62%$628M6.08M
2AAPLAPPLE INChistory →COM1.41%$548M3.32M
3VVISA INChistory →COM CL A1.38%$534M2.37M
4CSCOCISCO SYS INChistory →COM1.18%$456M8.72M
5MCDMCDONALDS CORPhistory →COM1.15%$446M1.59M
6GOOGLALPHABET INChistory →CAP STK CL A1.14%$440M4.24M
7JNJJOHNSON & JOHNSONhistory →COM1.12%$436M2.81M
8GILDGILEAD SCIENCES INChistory →COM1.12%$434M5.24M
9UNPUNION PAC CORPhistory →COM1.12%$434M2.16M
10MSFTMICROSOFT CORPhistory →COM1.05%$407M1.41M
11CVSCVS HEALTH CORPhistory →COM1.05%$406M5.46M
12NFLXNETFLIX INChistory →COM1.05%$405M1.17M
13AMGNAMGEN INChistory →COM1.04%$404M1.67M
14PYPLPAYPAL HLDGS INChistory →COM1.02%$395M5.20M
15HONGBPHONEYWELL INTL INChistory →COM0.98%$379M1.99M
16BABOEING COhistory →COM0.95%$369M1.74M
17MEDTRONIC PLCSHS0.92%$358M4.44M
18INTCINTEL CORPhistory →COM0.89%$343M10.51M
19FFORD MTR CO DELhistory →COM0.88%$342M27.13M
20ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.84%$327M849.7K
21CSXCSX CORPhistory →COM0.84%$325M10.86M
22ADPAUTOMATIC DATA PROCESSING INhistory →COM0.82%$318M1.43M
23CMECME GROUP INChistory →COM0.79%$306M1.60M
24SCHWSCHWAB CHARLES CORPhistory →COM0.78%$301M5.75M
25LMTLOCKHEED MARTIN CORPhistory →COM0.77%$297M628.4K
26RBLXROBLOX CORPhistory →CL A0.74%$286M6.37M
27DHRDANAHER CORPORATIONhistory →COM0.72%$278M1.10M
28SNAPSNAP INChistory →CL A0.71%$276M24.62M
29TRVCCITIGROUP INChistory →COM NEW0.70%$271M5.79M
30WMTWALMART INChistory →COM0.70%$271M1.84M
31ABNBAIRBNB INChistory →COM CL A0.69%$269M2.17M
32BPBP PLChistory →SPONSORED ADR0.69%$267M7.04M
33EMREMERSON ELEC COhistory →COM0.68%$265M3.05M
34ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A0.64%$249M3.38M
35BAXBAXTER INTL INChistory →COM0.62%$241M5.95M
36CRWDCROWDSTRIKE HLDGS INChistory →CL A0.60%$231M1.68M
37ETSYETSY INChistory →COM0.58%$226M2.03M
38ADSKAUTODESK INChistory →COM0.57%$222M1.07M
39EWEDWARDS LIFESCIENCES CORPhistory →COM0.56%$216M2.62M
40PGPROCTER AND GAMBLE COhistory →COM0.55%$212M1.43M
41DOCUDOCUSIGN INChistory →COM0.54%$211M3.61M
42FTNTFORTINET INChistory →COM0.54%$209M3.14M
43PANWPALO ALTO NETWORKS INChistory →COM0.51%$198M990.7K
44LNGCHENIERE ENERGY INChistory →COM NEW0.49%$190M1.21M
45GDGENERAL DYNAMICS CORPhistory →COM0.48%$188M823.6K
46PINSPINTEREST INChistory →CL A0.48%$187M6.85M
47BSXBOSTON SCIENTIFIC CORPhistory →COM0.48%$185M3.71M
48KMBKIMBERLY-CLARK CORPhistory →COM0.48%$185M1.38M
49MDLZMONDELEZ INTL INChistory →CL A0.47%$184M2.64M
50GMGENERAL MTRS COhistory →COM0.47%$183M4.99M

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 ↗.