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TWO SIGMA INVESTMENTS, LP

Q4 2025 · Filed 2026-02-17
Market Value
$61.9B
+1.6%
Holdings
3,472
+103
New Purchases
456
Added To
1,373
Closed
379
Reduced
1,173
Top 10 Concentration
5.5%
Turnover
24.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
XLK 0.65% 0.02% +0.64% $403M
XLY 0.65% 0.14% +0.51% $404M
VNQ 0.51% 0.00% +0.51% $316M
SCHH 0.39% 0.00% +0.39% $244M
NOW 0.40% 0.01% +0.39% $247M
IBB 0.40% 0.02% +0.39% $249M
XLRE 0.37% 0.00% +0.37% $231M
SMH 0.37% 0.00% +0.37% $229M
XBI 0.35% 0.00% +0.35% $215M
AMGN 0.37% 0.04% +0.34% $229M
KMB 0.34% 0.01% +0.33% $214M
MCD 0.32% 0.01% +0.31% $198M
ETN 0.30% 0.00% +0.30% $189M
F-PD 0.32% 0.01% +0.30% $195M
FCX 0.30% 0.01% +0.29% $187M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
XLF 0.05% 0.96% -0.91% $30M
XLP 0.07% 0.80% -0.74% $40M
SPY 0.51% 1.12% -0.61% $317M
QUAL 0.13% 0.62% -0.49% $81M
YNDX 0.01% 0.44% -0.43% $7M
META 0.01% 0.42% -0.41% $6M
KRE 0.00% 0.41% -0.40% $2M
WMT 0.01% 0.41% -0.40% $7M
DIA 0.00% 0.39% -0.39% $0
BAC 0.04% 0.42% -0.38% $22M
IREN 0.02% 0.40% -0.38% $10M
CRM 0.01% 0.39% -0.38% $6M
GOOGL 0.01% 0.39% -0.37% $8M
ACN 0.01% 0.38% -0.37% $7M
QCOM 0.01% 0.36% -0.35% $5M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 62 $7.5B 12.2%
Large Cap 739 $34.0B 54.9%
Mid Cap 889 $14.6B 23.7%
Small Cap 1,136 $5.1B 8.3%
Micro Cap 646 $660M 1.1%

Portfolio Analytics

Avg Market Cap
$25.5B
Median Market Cap
$1.8B
Avg P/E
32.7
Median P/E
19.4
Avg Dividend Yield
0.02%
Avg Beta
1.05
# Stocks
3,084
# ETFs / Funds
388

Top Holdings (3,472 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 XLY 0.65% 3,383,220 $404M $119.41 $320M +3,030,980 +860.5%
2 XLK 0.65% 2,801,547 $403M $143.97 $394M +2,767,747 +8188.6%
3 VUG 0.64% 816,840 $399M $487.86 -$17M -49,260 -5.7%
4 IWF 0.62% 813,789 $385M $473.30 $110M +226,932 +38.7%
5 QQQ 0.52% 523,077 $321M $614.31 -$83M -150,781 -22.4%
6 SPY 0.51% 464,197 $317M $681.92 -$364M -557,176 -54.5%
7 VNQ 0.51% 3,573,400 $316M $88.49 +3,573,400 NEW
8 MU 0.48% 1,039,889 $297M $285.41 $11M -665,243 -39.0%
9 AMD 0.46% 1,342,291 $287M $214.16 $45M -159,040 -10.6%
10 PLTR 0.45% 1,564,360 $278M $177.75 -$12M -26,128 -1.6%
11 IVV 0.43% 392,760 $269M $684.94 -$66M -107,940 -21.6%
12 GM 0.43% 3,302,035 $269M $81.32 $52M -247,135 -7.0%
13 AMZN 0.43% 1,148,237 $265M $230.82 -$1M -64,868 -5.3%
14 TSM 0.43% 868,449 $264M $303.89 $22M +4,022 +0.5%
15 ISRG 0.42% 459,879 $260M $566.36 $14M -91,138 -16.5%
16 MSFT 0.42% 538,234 $260M $483.62 -$7M +23,025 +4.5%
17 RIVN 0.42% 13,203,484 $260M $19.71 $14M -3,591,201 -21.4%
18 ABNB 0.42% 1,913,495 $260M $135.72 $29M +12,821 +0.7%
19 ADBE 0.42% 741,976 $260M $349.99 $12M +39,650 +5.7%
20 TJX 0.42% 1,680,630 $258M $153.61 $18M +20,626 +1.2%
21 SCHW 0.42% 2,579,155 $258M $99.91 $14M +23,535 +0.9%
22 TSLA 0.41% 568,358 $256M $449.72 $6M +7,373 +1.3%
23 MA 0.41% 441,496 $252M $570.88 $27M +45,404 +11.5%
24 BMY 0.41% 4,662,042 $251M $53.94 $6M -791,315 -14.5%
25 IBB 0.40% 1,475,007 $249M $168.77 $239M +1,409,300 +2144.8%
26 NET 0.40% 1,257,598 $248M $197.15 -$18M +20,634 +1.7%
27 SOFI 0.40% 9,446,103 $247M $26.18 $15M +646,397 +7.3%
28 NOW 0.40% 1,613,364 $247M $153.19 $242M +1,607,882 +29330.2%
29 ALNY 0.40% 616,120 $245M $397.65 -$27M +20,194 +3.4%
30 SCHH 0.39% 11,681,437 $244M $20.89 +11,681,437 NEW
31 RBLX 0.39% 3,007,272 $244M $81.03 $9M +1,313,916 +77.6%
32 AAPL 0.39% 891,843 $242M $271.86 $12M -12,578 -1.4%
33 TMUS 0.39% 1,183,865 $240M $203.04 -$822K +176,288 +17.5%
34 BSX 0.38% 2,471,344 $236M $95.35 -$12M -60,237 -2.4%
35 USMV 0.38% 2,492,600 $235M $94.16 -$25M -240,800 -8.8%
36 LMT 0.38% 484,515 $234M $483.67 -$40M -64,967 -11.8%
37 MMC 0.37% 1,249,912 $232M $185.52 $10M +149,771 +13.6%
38 XLRE 0.37% 5,735,700 $231M $40.35 +5,735,700 NEW
39 TTD 0.37% 6,044,135 $229M $37.96 $120M +3,820,578 +171.8%
40 SMH 0.37% 636,751 $229M $360.13 +636,751 NEW
41 AMGN 0.37% 700,388 $229M $327.31 $208M +623,963 +816.4%
42 CTAS 0.37% 1,217,532 $229M $188.07 $20M +200,861 +19.8%
43 IBKR 0.37% 3,526,821 $227M $64.31 -$19M -48,632 -1.4%
44 MSI 0.37% 590,173 $226M $383.32 $103M +320,512 +118.9%
45 NVDA 0.36% 1,205,691 $225M $186.50 -$45M -242,416 -16.7%
46 COST 0.36% 259,124 $223M $862.34 -$9M +8,226 +3.3%
47 GH 0.36% 2,171,903 $222M $102.14 $109M +368,572 +20.4%
48 AER 0.36% 1,538,896 $221M $143.76 $29M -47,904 -3.0%
49 RSG 0.36% 1,043,844 $221M $211.93 $7M +109,748 +11.8%
50 SE 0.35% 1,710,686 $218M $127.57 -$2M +478,700 +38.9%
51 ARGX 0.35% 258,556 $217M $840.95 $472K -35,604 -12.1%
52 BRK-B 0.35% 432,154 $217M $502.65 $27M +53,058 +14.0%
53 REGN 0.35% 281,151 $217M $771.87 -$47M -188,752 -40.2%
54 MRNA 0.35% 7,342,096 $217M $29.49 $22M -187,885 -2.5%
55 ON 0.35% 3,993,366 $216M $54.15 $31M +243,615 +6.5%
56 PGR 0.35% 946,277 $215M $227.72 -$14M +17,728 +1.9%
57 LRCX 0.35% 1,257,457 $215M $171.18 $11M -269,615 -17.7%
58 XBI 0.35% 1,762,600 $215M $121.93 $214M +1,754,300 +21136.1%
59 MSCI 0.35% 372,616 $214M $573.73 $109M +188,574 +102.5%
60 ANET 0.35% 1,630,792 $214M $131.03 $20M +299,267 +22.5%
61 AMT 0.35% 1,216,424 $214M $175.57 $59M +411,663 +51.1%
62 KMB 0.34% 2,116,203 $214M $100.89 $205M +2,050,786 +3134.9%
63 UNP 0.34% 912,198 $211M $231.32 -$32M -116,878 -11.4%
64 IONS 0.34% 2,658,646 $210M $79.11 $107M +1,082,703 +68.7%
65 NU 0.34% 12,542,124 $210M $16.74 -$37M -2,882,748 -18.7%
66 PG 0.34% 1,463,914 $210M $143.31 -$5M +66,185 +4.7%
67 EQIX 0.34% 272,870 $209M $766.16 $170M +223,345 +451.0%
68 AME 0.34% 1,010,471 $207M $205.31 $80M +332,715 +49.1%
69 IYW 0.33% 1,038,224 $207M $199.68 $97M +475,300 +84.4%
70 VRSK 0.33% 924,687 $207M $223.69 $44M +279,018 +43.2%
71 GDDY 0.33% 1,663,619 $206M $124.08 -$17M +32,519 +2.0%
72 W 0.33% 2,036,019 $204M $100.41 $34M +125,997 +6.6%
73 V 0.32% 573,459 $201M $350.71 $5M -1,575 -0.3%
74 C 0.32% 1,717,333 $200M $116.69 $96M +692,330 +67.5%
75 ROKU 0.32% 1,840,257 $200M $108.49 -$18M -332,947 -15.3%
76 RL 0.32% 563,947 $199M $353.61 $86M +201,925 +55.8%
77 WM 0.32% 906,222 $199M $219.71 -$30M -133,107 -12.8%
78 MS 0.32% 1,116,813 $198M $177.53 $2M -118,156 -9.6%
79 MCD 0.32% 646,254 $198M $305.63 $193M +631,240 +4204.3%
80 VLO 0.32% 1,212,710 $197M $162.79 -$21M -70,959 -5.5%
81 F-PD 0.32% 14,888,265 $195M $13.12 $188M +14,266,632 +2295.0%
82 AAL 0.31% 12,582,898 $193M $15.33 $39M -1,087,902 -8.0%
83 WCN 0.31% 1,079,135 $189M $175.36 -$33M -184,783 -14.6%
84 ETN 0.30% 591,926 $189M $318.51 +591,926 NEW
85 SPLV 0.30% 2,634,200 $188M $71.42 $82M +1,191,500 +82.6%
86 FCX 0.30% 3,687,307 $187M $50.79 $183M +3,566,834 +2960.7%
87 DELL 0.30% 1,474,392 $186M $125.88 $64M +617,070 +72.0%
88 DG 0.30% 1,389,179 $184M $132.77 $34M -64,470 -4.4%
89 CB 0.30% 586,031 $183M $312.12 -$50M -237,600 -28.9%
90 HPE 0.29% 7,589,011 $182M $24.02 +7,589,011 NEW
91 T 0.29% 7,334,980 $182M $24.84 +7,334,980 NEW
92 KEY 0.29% 8,734,526 $180M $20.64 $114M +5,166,699 +144.8%
93 AKAM 0.29% 2,048,557 $179M $87.25 $129M +1,392,485 +212.2%
94 ALB 0.29% 1,261,458 $178M $141.44 $38M -471,523 -27.2%
95 BA 0.28% 808,931 $176M $217.12 $170M +781,331 +2830.9%
96 TXN 0.28% 996,205 $173M $173.49 $167M +965,770 +3173.2%
97 HEI 0.28% 531,566 $172M $323.59 -$8M -27,095 -4.8%
98 SNDK 0.27% 715,225 $170M $237.38 $141M +454,864 +174.7%
99 ACGL 0.27% 1,762,575 $169M $95.92 -$3M -132,647 -7.0%
100 BE 0.27% 1,937,977 $168M $86.89 $23M +224,565 +13.1%

Options Breakdown

294 Calls $1.4B Call Value 334 Puts $2.4B Put Value 1.67 P/C Ratio

Top Calls

SymbolSharesValueStatus
BRK-B 221,100 $111M
META 112,800 $74M
GOOGL 237,100 $74M
AAPL 251,000 $68M
NVDA 355,300 $66M
GLD 137,800 $55M NEW
HOOD 329,800 $37M
PLTR 196,700 $35M
BA 160,300 $35M
TSLA 73,500 $33M

Top Puts

SymbolSharesValueStatus
LITE 362,700 $134M
BRK-B 230,900 $116M
RIVN 5,778,500 $114M
STX 297,400 $82M
GOOGL 252,100 $79M
META 117,900 $78M
NVDA 384,500 $72M
AAPL 241,000 $66M
MP 1,284,200 $65M
GLD 137,800 $55M NEW

New Positions

SymbolValue% Port
VNQ $316M 0.51%
SCHH $244M 0.39%
XLRE $231M 0.37%
SMH $229M 0.37%
ETN $189M 0.30%
HPE $182M 0.29%
T $182M 0.29%
IYR $161M 0.26%
ROST $114M 0.18%
VGT $88M 0.14%
CPRT $84M 0.14%
HPQ $64M 0.10%
SBAC $55M 0.09%
MHK $53M 0.09%
GE $49M 0.08%

Sold Out Positions

SymbolValue% Port
HRB —%
DY —%
MC —%
HLI —%
JHG —%
UBER —%
ALG —%
AEM —%
BMA —%
CNR —%
DNOW —%
HESM —%
ICE —%
GGZ —%
PRLB —%
View SEC EDGAR Filings for TWO SIGMA INVESTMENTS, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms