SEC 13F Intelligence

Managers / Q3 2025 · 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
$50.0B
Q3 2025
Positions
2,311
Filings on Record
31
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Two Sigma Advisers, LP reported $50.0B in U.S.-listed holdings across 2,311 positions for Q3 2025.

Its largest position, NVDA, represents 3.1% of the portfolio.

Compared with Q2 2025, the fund opened 401 new positions and exited 390.

Portfolio Metrics

Turnover
+30.0%
vs prior filed quarter
Top-10 Concentration
+19.1%
share of reported value
Largest Position
+3.1%
Nvidia Corporation
New / Exited
401 / 390
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: 90.3%Other: 5.8%ADR: 2.6%REIT: 1.2%ETP: 0.0%Other: 0.0%
  • Common Stock · 90.3% · $45.1B
  • Other · 5.8% · $2.9B
  • ADR · 2.6% · $1.3B
  • REIT · 1.2% · $614M
  • ETP · 0.0% · $21M
  • Other · 0.0% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TJXTJX COS INC NEWNEW+1.45M1.45M+$209M$209M
AMDADVANCED MICRO DEVICES INCNEW+1.11M1.11M+$180M$180M
SJMSMUCKER J M CONEW+1.50M1.50M+$163M$163M
MARAMARA HOLDINGS INCNEW+7.42M7.42M+$135M$135M
DEDEERE & CONEW+168.7K168.7K+$77M$77M
CELHCELSIUS HLDGS INCNEW+1.27M1.27M+$73M$73M
CITCINTAS CORPNEW+351.6K351.6K+$72M$72M
TTDTHE TRADE DESK INCNEW+1.08M1.08M+$53M$53M

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

Holdings — Q3 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPORATIONhistory →COM3.07%$1.5B8.22M
2MSFTMICROSOFT CORPhistory →COM3.03%$1.5B2.93M
3AAPLAPPLE INChistory →COM2.79%$1.4B5.47M
4AMZNAMAZON COM INChistory →COM2.14%$1.1B4.87M
5JPMJPMORGAN CHASE & CO.history →COM1.54%$769M2.44M
6PLTRPALANTIR TECHNOLOGIES INChistory →CL A1.35%$676M3.71M
7NFLXNETFLIX INChistory →COM1.34%$669M558.1K
8METAMETA PLATFORMS INChistory →CL A1.33%$665M905.6K
9BACBANK AMERICA CORPhistory →COM1.27%$635M12.31M
10MAMASTERCARD INCORPORATEDhistory →CL A1.25%$627M1.10M
11COSTCOSTCO WHSL CORP NEWhistory →COM1.19%$593M640.5K
12LMTLOCKHEED MARTIN CORPhistory →COM1.18%$590M1.18M
13ISRGINTUITIVE SURGICAL INChistory →COM NEW1.14%$572M1.28M
14ADBEADOBE INChistory →COM1.14%$569M1.61M
15SCHWSCHWAB CHARLES CORPhistory →COM1.14%$569M5.96M
16WMTWALMART INChistory →COM1.11%$555M5.38M
17GEVGE VERNOVA INChistory →COM1.06%$530M861.4K
18BSXBOSTON SCIENTIFIC CORPhistory →COM1.04%$521M5.34M
19REGNREGENERON PHARMACEUTICALShistory →COM1.04%$521M926.2K
20TMUST-MOBILE US INChistory →COM1.04%$519M2.17M
21ABNBAIRBNB INChistory →COM CL A0.90%$452M3.72M
22JNJJOHNSON & JOHNSONhistory →COM0.87%$435M2.35M
23ALNYALNYLAM PHARMACEUTICALS INChistory →COM0.81%$407M892.5K
24MUMICRON TECHNOLOGY INChistory →COM0.81%$405M2.42M
25RBLXROBLOX CORPhistory →CL A0.80%$401M2.89M
26GOOGLALPHABET INChistory →CAP STK CL A0.77%$386M1.59M
27PGRPROGRESSIVE CORPhistory →COM0.75%$375M1.52M
28UNPUNION PAC CORPhistory →COM0.75%$374M1.58M
29QCOMQUALCOMM INChistory →COM0.73%$366M2.20M
30TSLATESLA INChistory →COM0.73%$364M818.4K
31CHUBB LIMITEDCOM0.71%$357M1.26M
32CPNGCOUPANG INChistory →CL A0.68%$339M10.53M
33NETCLOUDFLARE INChistory →CL A COM0.66%$329M1.53M
34CRMSALESFORCE INChistory →COM0.62%$311M1.31M
35PGPROCTER AND GAMBLE COhistory →COM0.62%$310M2.02M
36DASHDOORDASH INChistory →CL A0.61%$306M1.13M
37CVNACARVANA COhistory →CL A0.59%$296M785.8K
38GDDYGODADDY INChistory →CL A0.59%$294M2.15M
39IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A0.58%$289M4.19M
40TEAM1EURATLASSIAN CORPORATIONhistory →CL A0.56%$277M1.74M
41WCNWASTE CONNECTIONS INChistory →COM0.54%$269M1.53M
42MRSHMARSH & MCLENNAN COS INChistory →COM0.53%$264M1.31M
43GMGENERAL MTRS COhistory →COM0.53%$263M4.31M
44NEBIUS GROUP N.V.SHS CLASS A0.51%$257M2.29M
45MPCMARATHON PETE CORPhistory →COM0.50%$251M1.30M
46CLXCLOROX CO DELhistory →COM0.50%$251M2.03M
47CATCATERPILLAR INChistory →COM0.50%$251M525.3K
48HUBSHUBSPOT INChistory →COM0.50%$248M529.4K
49CMECME GROUP INChistory →COM0.50%$248M916.2K
50AERCAP HOLDINGS NVSHS0.45%$226M1.86M

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 5 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 Equity Risk Premia Portfolio, LLC028-17346
  • Two Sigma World Core Fund, LP028-17350

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 ↗.