Two Sigma Investments
Two Sigma Investments, co-founded by John Overdeck and David Siegel, is a leading hedge fund that manages approximately $123.93 billion in assets. Both founders come from a strong background in mathematics and technology, which heavily influences the firm's investment strategy. Two Sigma is known for its reliance on technological innovations, including artificial intelligence and machine learning, to drive its quantitative and data-driven investment decisions.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings β not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares β not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with β₯$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| NVDA | $1.96B | 1.58% | $174.40 | $196.16 | +12.5% | 1.6% | |
| AAPL | $1.51B | 1.22% | $253.56 | $311.62 | +22.9% | 1.2% | |
| AMZN | $1.32B | 1.06% | $208.27 | $245.34 | +17.8% | 1.1% | |
| GOOGL | $1.27B | 1.03% | $287.39 | $368.34 | +28.2% | 1.0% | |
| TSLA | $1.08B | 0.87% | $371.75 | $402.54 | +8.3% | 0.9% | |
| JPM | $973.9M | 0.79% | $291.35 | $338.56 | +16.2% | 0.8% | |
| PLTR | $940.6M | 0.76% | $146.28 | $135.77 | -7.2% | 0.8% | |
| COST | $871.7M | 0.70% | $994.99 | $948.98 | -4.6% | 0.7% | |
| TJX | $837.4M | 0.68% | $159.18 | $152.74 | -4.0% | 0.7% | |
| MA | $837.0M | 0.68% | $498.80 | $533.59 | +7.0% | 0.7% | |
| TMUS | $817.3M | 0.66% | $208.90 | $186.43 | -10.8% | 0.7% | |
| LMT | $815.4M | 0.66% | $604.39 | $534.97 | -11.5% | 0.7% | |
| BRKB | $777.1M | 0.63% | β | β | 0.6% | ||
| MU | $773.8M | 0.62% | $337.79 | $912.10 | +170.0% | 0.6% | |
| ADBE | $760.6M | 0.61% | $243.08 | $223.43 | -8.1% | 0.6% | |
| BMY | $699.6M | 0.56% | $59.36 | $57.82 | -2.6% | 0.6% | |
| PGR | $699.4M | 0.56% | $198.05 | $235.55 | +18.9% | 0.6% | |
| AVGO | $688.7M | 0.56% | $309.02 | $368.10 | +19.1% | 0.6% | |
| RBLX | $681.2M | 0.55% | $56.56 | $56.69 | +0.2% | 0.6% | |
| ALNY | $659.3M | 0.53% | $330.87 | $320.23 | -3.2% | 0.5% | |
| ABT | $655.9M | 0.53% | $102.03 | $96.29 | -5.6% | 0.5% | |
| ISRG | $647.8M | 0.52% | $460.99 | $426.36 | -7.5% | 0.5% | |
| $638.7M | 0.52% | β | β | 0.5% | |||
| REGN | $627.6M | 0.51% | $771.49 | $672.79 | -12.8% | 0.5% | |
| MS | $615.4M | 0.50% | $163.69 | $221.48 | +35.3% | 0.5% | |
| ROST | $609.2M | 0.49% | $216.21 | $213.19 | -1.4% | 0.5% | |
| BSX | $590.5M | 0.48% | $62.75 | $45.17 | -28.0% | 0.5% | |
| NET | $581.9M | 0.47% | $206.34 | $268.30 | +30.0% | 0.5% | |
| WCN | $559.5M | 0.45% | $162.08 | $172.97 | +6.7% | 0.5% | |
| IBKR | $557.5M | 0.45% | $67.07 | $94.21 | +40.5% | 0.5% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (8)
| Ticker | Issuer | Notional | Since Filing |
|---|---|---|---|
| ABTCALL | $655.9M | -5.6% | |
| RTX | $377.4M | ||
| ADPCALL | $260.5M | ||
| LVS | $224.8M | ||
| BACPRL | $112.5M | ||
| HWM | $111.2M | ||
| FTCS | $98.3M | ||
| VOOG | $93.7M |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| AZNCALL | $200.4M | |
| FDN | $82.2M | |
| IVE | $66.3M | |
| NGD | $59.8M | |
| $57.1M | ||
| CP | $50.2M | |
| $48.5M | ||
| $48.0M |
Increased (8)
| Ticker | Issuer | Notional | Shares Ξ | Since Filing |
|---|---|---|---|---|
| BSXPUT | $590.2M | +247564.0% | -28.0% | |
| NOWCALL | $484.4M | +231711.0% | ||
| GH | $390.5M | +211376.6% | ||
| GH | $390.5M | +211376.6% | ||
| WMCALL | $468.4M | +203819.4% | ||
| NETCALL | $581.5M | +140891.8% | +30.0% | |
| LMT | $814.9M | +134817.2% | -11.5% | |
| LMT | $814.9M | +134817.2% | -11.5% |
Trimmed (8)
| Ticker | Issuer | Notional | Shares Ξ |
|---|---|---|---|
| RSGPUT | $-220.9M | -99.9% | |
| LRCXPUT | $-214.9M | -99.9% | |
| SNAPCALL | $-139.3M | -99.9% | |
| SNAPCALL | $-139.4M | -99.9% | |
| MRSHPUT | $-231.6M | -99.9% | |
| VTRPUT | $-125.5M | -99.8% | |
| BWXTCALL | $-69.3M | -99.8% | |
| SECALL | $-217.9M | -99.8% |
Quarter Activity
During the quarter, Two Sigma Investments initiated notable new positions in Abbott Laboratories (ABT), Raytheon Technologies (RTX), and Automatic Data Processing (ADP), reflecting a strategic diversification in their portfolio. The fund also exited positions in AstraZeneca (AZN) and First Trust Dow Jones Internet Index Fund (FDN), among others, indicating a shift in their investment focus. Additionally, there were significant increases in holdings of Boston Scientific (BSX) and ServiceNow (NOW), suggesting a concentration increase in these sectors.
AI Commentary
<p>Two Sigma Investments' portfolio showcases a strong concentration in the technology and consumer sectors, with top holdings including NVIDIA CORPORATION (NVDA) at $1,959M (1.6% of AUM), APPLE INC (AAPL) at $1,509M (1.2%), and AMAZON COM INC (AMZN) at $1,319M (1.1%). Other significant investments include ALPHABET INC (GOOGL), TESLA INC (TSLA), and PALANTIR TECHNOLOGIES INC (PLTR), indicating a strategic focus on high-growth tech companies and major consumer brands. This sector concentration suggests a bullish stance on technology and consumer discretionary sectors, which are pivotal in driving innovation and consumer spending.</p> <p>The recent quarter's activity signals a nuanced shift in Two Sigma Investments' strategy, with new positions in ABBOTT LABORATORIES (ABT) at $656M and RAYTHEON TECHNOLOGIES CORP (RTX) at $377M, alongside significant increases in positions like BOSTON SCIENTIFIC CORP (BSX) and SERVICE NOW INC (NOW). The closure of positions in ASTRAZENECA PLC (AZN) and various ETFs, combined with the complete sell-offs in companies like LAM RESEARCH CORP (LRCX) and SNAP INC (SNAP), reflect a recalibration away from certain healthcare, technology, and social media investments. This portfolio adjustment could be indicative of a strategic pivot towards more stable, diversified sectors amidst a changing economic landscape, possibly due to evolving market conditions or risk reassessment.</p>