Two Sigma Investments 13F, Q2 2025
Two Sigma · quarter ending 30 June 2025 · filed 14 August 2025 · SEC CIK 1179392
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 49 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q2 2025
The 25 largest of 3,101 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| INVESCO QQQ TR | QQQ | $739.05M | 1.3% | +48% shares |
| SPDR S&P 500 ETF TR | SPY | $715.22M | 1.3% | -23% shares |
| ISHARES TR | IWF | $473.02M | 0.8% | +7% shares |
| VANGUARD INDEX FDS | VUG | $457.21M | 0.8% | +2% shares |
| SELECT SECTOR SPDR TR | XLK | $366.76M | 0.7% | -31% shares |
| ISHARES TR | IVV | $350.62M | 0.6% | unchanged |
| ISHARES TR | IGV | $345.40M | 0.6% | new |
| NVIDIA CORPORATION | NVDA | $299.17M | 0.5% | -19% shares |
| AMAZON COM INC | AMZN | $290.70M | 0.5% | +82% shares |
| NETFLIX INC | NFLX | $288.20M | 0.5% | unchanged |
| APPLE INC | AAPL | $288.16M | 0.5% | +34% shares |
| CARVANA CO | CVNA | $277.71M | 0.5% | +40% shares |
| PALANTIR TECHNOLOGIES INC | PLTR | $272.77M | 0.5% | -29% shares |
| SNOWFLAKE INC | SNOW | $272.34M | 0.5% | -26% shares |
| SALESFORCE INC | CRM | $270.89M | 0.5% | +3% shares |
| CLOUDFLARE INC | NET | $266.96M | 0.5% | unchanged |
| BOSTON SCIENTIFIC CORP | BSX | $264.91M | 0.5% | unchanged |
| MICROSOFT CORP | MSFT | $263.42M | 0.5% | -11% shares |
| MASTERCARD INCORPORATED | MA | $262.64M | 0.5% | +15% shares |
| SEA LTD | SE | $262.53M | 0.5% | +58% shares |
| REGENERON PHARMACEUTICALS | REGN | $262.41M | 0.5% | +34% shares |
| ROBLOX CORP | RBLX | $261.11M | 0.5% | -38% shares |
| SCHWAB CHARLES CORP | SCHW | $259.48M | 0.5% | +46% shares |
| SOFI TECHNOLOGIES INC | SOFI | $259.34M | 0.5% | +50% shares |
| ADOBE INC | ADBE | $258.68M | 0.5% | +8% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Two Sigma Investments opened 545 new positions, added to 1,165, trimmed 1,227, left 164 unchanged and exited 544. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- IGV$345.40M
- XLP$147.70M
- IWM$146.22M
- BRO$104.84M
- BNS$77.43M
- TEM$75.75M
- UGI 5 06/01/28$64.88M
- FOUR 6 05/01/28$57.57M
and 537 more
Exited
- XLUwas $134.34M
- XLBwas $90.03M
- FTECwas $68.36M
- TRGPwas $52.80M
- XOPwas $48.88M
- WINGwas $47.56M
- BERRY GLOBAL GROUP INCwas $45.98M
- NCL CORP LTDwas $36.88M
and 536 more
Other quarters
Source: SEC Form 13F-HR, accession 0000899140-25-000964, filed by TWO SIGMA INVESTMENTS, LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.