Two Sigma Investments 13F, Q4 2025
Two Sigma · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1179392
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 574 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 3,467 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| SELECT SECTOR SPDR TR | XLY | $403.99M | 0.6% | +861% shares |
| SELECT SECTOR SPDR TR | XLK | $403.34M | 0.6% | +8189% shares |
| VANGUARD INDEX FDS | VUG | $398.50M | 0.6% | -6% shares |
| ISHARES TR | IWF | $385.17M | 0.6% | +39% shares |
| ECHOSTAR CORP | ECHO 3.875 11/30/30 | $342.40M | 0.5% | +18% shares |
| INVESCO QQQ TR | QQQ | $321.33M | 0.5% | -22% shares |
| SPDR S&P 500 ETF TR | SPY | $316.55M | 0.5% | -55% shares |
| VANGUARD INDEX FDS | VNQ | $316.21M | 0.5% | new |
| MICRON TECHNOLOGY INC | MU | $296.79M | 0.4% | -39% shares |
| ADVANCED MICRO DEVICES INC | AMD | $287.47M | 0.4% | -11% shares |
| WESTERN DIGITAL CORP | WDC 3 11/15/28 | $286.87M | 0.4% | -8% shares |
| PALANTIR TECHNOLOGIES INC | PLTR | $278.06M | 0.4% | unchanged |
| ISHARES TR | IVV | $269.02M | 0.4% | -22% shares |
| GENERAL MTRS CO | GM | $268.52M | 0.4% | -7% shares |
| AMAZON COM INC | AMZN | $265.04M | 0.4% | -5% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $263.91M | 0.4% | unchanged |
| INTUITIVE SURGICAL INC | ISRG | $260.46M | 0.4% | -17% shares |
| MICROSOFT CORP | MSFT | $260.30M | 0.4% | +5% shares |
| RIVIAN AUTOMOTIVE INC | RIVN | $260.24M | 0.4% | -21% shares |
| AIRBNB INC | ABNB | $259.70M | 0.4% | unchanged |
| ADOBE INC | ADBE | $259.68M | 0.4% | +6% shares |
| TJX COS INC NEW | TJX | $258.16M | 0.4% | unchanged |
| SCHWAB CHARLES CORP | SCHW | $257.68M | 0.4% | unchanged |
| TESLA INC | TSLA | $255.60M | 0.4% | unchanged |
| MASTERCARD INCORPORATED | MA | $252.04M | 0.4% | +12% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Two Sigma Investments opened 590 new positions, added to 1,425, trimmed 1,182, left 270 unchanged and exited 472. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 582 more
Exited
- DIAwas $239.79M
- SEA LTDwas $218.01M
- CMCSAwas $205.99M
- ICEwas $148.42M
- SOwas $96.42M
- KBWBwas $94.90M
- CMwas $83.14M
- VFHwas $72.77M
and 464 more
Other quarters
Source: SEC Form 13F-HR, accession 0000899140-26-000232, 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.