Hedge fund

Two Sigma Investments, LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1179392

Reported value: $128.6bn
Positions we cover: 3,050
Copy, a year: +12.9%
Copy Sharpe ratio: 0.65

How copying its 13F would have done

CopyS&P 500 $10,000 copying Two Sigma Investments, LP's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −36.4% (S&P 500 −31.8%); beta 1.03; alpha −1.1% a year (t = −0.69); last 12 months +14.4% against +12.1%.

Reported value by quarter

Two Sigma Investments, LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$14.3B
2013-09-30	$15.7B
2013-12-31	$18.1B
2014-03-31	$18.7B
2014-06-30	$22.2B
2014-09-30	$22.4B
2014-12-31	$18.1B
2015-03-31	$20.8B
2015-06-30	$20.4B
2015-09-30	$18.8B
2015-12-31	$19.5B
2016-03-31	$19.2B
2016-06-30	$20.8B
2016-09-30	$23.4B
2016-12-31	$22.9B
2017-03-31	$26.7B
2017-06-30	$24.5B
2017-09-30	$25.6B
2017-12-31	$28B
2018-03-31	$26B
2018-06-30	$28B
2018-09-30	$32.9B
2018-12-31	$23.4B
2019-03-31	$27.7B
2019-06-30	$26.2B
2019-09-30	$24.3B
2019-12-31	$27.8B
2020-03-31	$9.5B
2020-06-30	$17.7B
2020-09-30	$24.3B
2020-12-31	$30.5B
2021-03-31	$32.8B
2021-06-30	$37.1B
2021-09-30	$36.8B
2021-12-31	$40.1B
2022-03-31	$32.6B
2022-06-30	$29.1B
2022-09-30	$28.2B
2022-12-31	$30.2T
2023-03-31	$32.5B
2023-06-30	$36.2B
2023-09-30	$34.2B
2023-12-31	$39.8B
2024-03-31	$39.7B
2024-06-30	$40.9B
2024-09-30	$43B
2024-12-31	$41.9B
2025-03-31	$44.5B
2025-06-30	$53.6B
2025-09-30	$62.3B
2025-12-31	$63.7B
2026-03-31	$117.1B
2026-06-30	$128.6B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
AMZNAmazon	1.06%	$1.4bn	5.72M	−9.8% Reduced
NVDANVIDIA Corporation	0.98%	$1.3bn	6.28M	−44.1% Reduced
AAPLApple Inc.	0.94%	$1.2bn	4.18M	−29.7% Reduced
TSLATesla, Inc.	0.94%	$1.2bn	2.86M	−1.8% Reduced
JPMJPMorgan Chase	0.75%	$968.1m	2.96M	−10.7% Reduced
MAMastercard	0.73%	$945.6m	1.84M	+9.9% Added
COSTCostco	0.73%	$941.3m	1.01M	+15.0% Added
ASMLAsml Holding NV	0.71%	$918.1m	461.5K	+21.8% Added
AMDAdvanced Micro Devices	0.68%	$880.3m	1.52M	+10.5% Added
CCitigroup	0.65%	$831.1m	5.94M	+38.0% Added
BSXBoston Scientific	0.64%	$826.2m	19.36M	+105.7% Added
GOOGLAlphabet Inc. (Class A)	0.62%	$802.9m	2.25M	−49.3% Reduced
LMTLockheed Martin	0.62%	$799.8m	1.57M	+16.4% Added
ISRGIntuitive Surgical	0.61%	$787.1m	1.98M	+40.8% Added
SCHWCharles Schwab Corporation	0.60%	$777.4m	8.43M	+57.2% Added
KMBKimberly-Clark	0.60%	$774.4m	7.05M	+36.3% Added
GSGoldman Sachs	0.59%	$762.1m	753.5K	+106.0% Added
TJXTJX Companies	0.59%	$756.1m	4.99M	−4.8% Reduced
TMUST-Mobile US	0.58%	$745.4m	4.44M	+14.2% Added
ABTAbbott Laboratories	0.57%	$737.4m	8.13M	+27.2% Added
RBLXRoblox Corp	0.57%	$731.3m	13.45M	+11.7% Added
IBKRInteractive Brokers	0.56%	$725.9m	8.34M	+0.3%
MSMorgan Stanley	0.56%	$715.7m	3.42M	−8.5% Reduced
MSFTMicrosoft Corporation	0.53%	$682.4m	1.83M	+32.5% Added
PGRProgressive Corporation	0.52%	$662.0m	3.03M	−14.1% Reduced
NETCloudflare, Inc.	0.49%	$634.3m	2.59M	−8.3% Reduced
CMGChipotle Mexican Grill	0.49%	$628.5m	18.49M	+125.0% Added
MUMicron Technology	0.48%	$617.7m	535.2K	−76.6% Reduced
BEBloom Energy	0.47%	$610.4m	2.02M	−43.2% Reduced
EQIXEquinix	0.47%	$601.3m	576.8K	+27.5% Added
WFCWells Fargo	0.47%	$600.5m	7.27M	+359.0% Added
RTXRTX Corporation	0.46%	$589.7m	3.11M	+58.9% Added
ITWIllinois Tool Works	0.45%	$582.5m	2.15M	+46.7% Added
BMYBristol Myers Squibb	0.45%	$581.1m	10.09M	−12.6% Reduced
ALNYAlnylam Pharmaceuticals, Inc.	0.44%	$564.7m	1.88M	−5.9% Reduced
INTUIntuit	0.44%	$564.2m	2.16M	New
GHGuardant Health, Inc.	0.43%	$558.0m	3.72M	−12.1% Reduced
SNDKSandisk	0.43%	$549.5m	241.7K	−68.3% Reduced
WCNWaste Connections, Inc.	0.42%	$541.1m	3.25M	−5.8% Reduced
CMECME Group	0.41%	$534.4m	2.42M	+110.2% Added
ROSTRoss Stores	0.41%	$520.7m	2.45M	−13.0% Reduced
ABNBAirbnb	0.40%	$508.0m	3.55M	+2.6% Added
MRNAModerna	0.39%	$503.8m	7.19M	−20.8% Reduced
CICigna	0.39%	$499.8m	1.81M	+182.7% Added
IONSIonis Pharmaceuticals Inc	0.39%	$495.7m	6.25M	+6.7% Added
AERAercap Holdings N.V.	0.39%	$494.9m	3.39M	−4.0% Reduced
AALAmerican Airlines Group Inc.	0.38%	$492.2m	27.24M	+92.1% Added
DOWDow Inc.	0.38%	$489.0m	17.87M	+296.7% Added
RSGRepublic Services	0.38%	$485.9m	2.28M	+33.4% Added
GMGeneral Motors	0.37%	$481.0m	6.24M	+5.1% Added
BLKBlackRock	0.36%	$466.7m	485.3K	+151.4% Added
HPEHewlett Packard Enterprise	0.36%	$459.0m	10.17M	−4.0% Reduced
RLRalph Lauren Corporation	0.33%	$421.0m	1.05M	+16.9% Added
NBISNebius Group N.V.	0.32%	$415.6m	1.50M	−46.2% Reduced
PLTRPalantir Technologies Inc.	0.32%	$413.5m	3.54M	−44.9% Reduced
REGNRegeneron Pharmaceuticals	0.32%	$409.1m	656.1K	−19.2% Reduced
TXNTexas Instruments	0.32%	$408.9m	1.37M	+962.6% Added
TELTE Connectivity	0.32%	$408.9m	2.03M	+19.8% Added
AMGNAmgen	0.32%	$408.7m	1.13M	+1474.6% Added
CNCCentene Corporation	0.32%	$407.5m	6.35M	−5.9% Reduced
CTASCintas	0.31%	$401.5m	2.36M	+0.1%
ONON Semiconductor Corp	0.30%	$384.6m	4.07M	−8.7% Reduced
APLDApplied Digital Corp.	0.30%	$384.2m	10.30M	+546.7% Added
METAMeta Platforms	0.29%	$377.1m	669.4K	−14.5% Reduced
CPRTCopart	0.28%	$353.8m	12.55M	+17.2% Added
BBIOBridgebio Pharma, Inc.	0.27%	$351.7m	4.72M	+51.3% Added
FCXFreeport-McMoRan	0.27%	$350.6m	5.57M	−10.8% Reduced
NBIXNeurocrine Biosciences Inc	0.27%	$349.9m	2.08M	−32.2% Reduced
STXSeagate Technology	0.27%	$342.4m	354.8K	+246.1% Added
CRWVCoreweave, Inc.	0.27%	$341.5m	3.43M	+2919.9% Added
UNPUnion Pacific Corporation	0.27%	$341.1m	1.25M	+14.3% Added
VLOValero Energy	0.26%	$334.3m	1.28M	+85.7% Added
FTNTFortinet	0.26%	$333.6m	2.17M	+93.1% Added
RIVNRivian Automotive, Inc. / DE	0.26%	$332.7m	19.18M	+100.7% Added
HUBSHubspot Inc	0.26%	$332.1m	1.82M	+35.3% Added
PCGPG&E Corporation	0.26%	$328.2m	19.51M	+176.5% Added
MELIMercadolibre Inc	0.25%	$317.8m	187.3K	+549.8% Added
MPCMarathon Petroleum	0.25%	$316.8m	1.24M	−18.7% Reduced
LHXL3Harris	0.24%	$312.4m	1.08M	+77.3% Added
KMXCarmax Inc	0.24%	$308.5m	5.83M	+9.1% Added
VRSKVerisk Analytics, Inc.	0.24%	$308.4m	1.72M	+9.0% Added
TTDTrade Desk, Inc.	0.24%	$308.3m	17.05M	+20.4% Added
HRLHormel Foods	0.24%	$305.9m	12.33M	+2.8% Added
SPCXSpace Exploration Technologies Corp	0.24%	$303.3m	1.78M	New
SOLSSolstice Advanced Materials Inc.	0.23%	$297.3m	3.36M	+37.0% Added
WMWaste Management	0.23%	$297.3m	1.33M	−34.6% Reduced
DOCNDigitalocean Holdings, Inc.	0.23%	$296.3m	1.89M	+896.4% Added
GDDYGodaddy Inc.	0.23%	$295.8m	3.49M	−1.0% Reduced
PODDInsulet Corporation	0.23%	$289.8m	1.90M	+149.7% Added
MOHMolina Healthcare, Inc.	0.23%	$289.6m	1.27M	−6.2% Reduced
FIVEFive Below, Inc	0.22%	$288.7m	1.61M	+12.0% Added
SMCISupermicro	0.22%	$287.0m	9.78M	+978.8% Added
WULFTerawulf Inc.	0.22%	$283.9m	11.50M	+46.7% Added
QQnity Electronics, Inc.	0.22%	$282.8m	1.73M	+21.3% Added
DELLDell Technologies	0.22%	$282.7m	655.3K	−78.4% Reduced
GFSGlobalfoundries Inc.	0.22%	$281.6m	3.42M	+27.8% Added
ITGartner	0.21%	$276.1m	2.13M	+88.9% Added
MSIMotorola Solutions	0.21%	$269.4m	648.8K	−17.2% Reduced
COFCapital One	0.21%	$269.4m	1.34M	+1837.3% Added
PNWPinnacle West Capital	0.21%	$269.4m	2.52M	+15.0% Added
ADCAgree Realty Corp	0.21%	$267.7m	3.54M	−12.5% Reduced
VIAVViavi Solutions Inc.	0.21%	$266.8m	5.59M	+219.3% Added
MPWRMonolithic Power Systems, Inc.	0.20%	$263.3m	190.5K	+1485.2% Added
CORZCore Scientific, Inc.	0.20%	$263.0m	10.28M	+84.0% Added
MDTMedtronic	0.20%	$253.5m	3.24M	+435.2% Added
CCKCrown Holdings, Inc.	0.20%	$251.4m	2.25M	−9.7% Reduced
ICEIntercontinental Exchange	0.19%	$249.8m	2.03M	New
WWayfair Inc.	0.19%	$241.5m	2.61M	+4.3% Added
NDAQNasdaq, Inc.	0.19%	$239.6m	3.04M	+30.2% Added
ONTOOnto Innovation Inc.	0.19%	$239.5m	633.0K	+102.4% Added
DHID. R. Horton	0.18%	$237.1m	1.46M	+53.6% Added
ARMARM Holdings PLC	0.18%	$234.1m	660.2K	+13.8% Added
SIMOSilicon Motion Technology Corp	0.18%	$233.7m	701.1K	+155.3% Added
LENLennar	0.18%	$232.7m	2.57M	−1.3% Reduced
FIGFigma, Inc.	0.18%	$230.2m	12.73M	+14.1% Added
ENPHEnphase Energy, Inc.	0.18%	$229.2m	4.66M	−15.0% Reduced
EHCEncompass Health Corp	0.18%	$229.2m	2.27M	+2.1% Added
EXELExelixis, Inc.	0.18%	$229.1m	4.21M	+90.8% Added
INCYIncyte	0.18%	$227.1m	2.00M	+381.7% Added
TERTeradyne	0.18%	$227.0m	469.1K	−44.1% Reduced
RIGTransocean Ltd.	0.18%	$225.9m	46.21M	−0.6% Reduced
SESea Ltd	0.17%	$224.8m	2.35M	−29.0% Reduced
OTISOtis Worldwide	0.17%	$224.7m	3.14M	+62.0% Added
ADBEAdobe Inc.	0.17%	$224.1m	1.09M	−65.1% Reduced
EIXEdison International	0.17%	$223.1m	3.00M	+31.7% Added
IDAIdacorp Inc	0.17%	$217.8m	1.44M	+6.6% Added
PBFPBF Energy Inc.	0.17%	$214.6m	4.71M	+22.2% Added
HEIHeico Corp	0.17%	$214.4m	602.0K	−24.9% Reduced
VSHVishay Intertechnology Inc	0.17%	$214.3m	3.98M	+78.2% Added
AVGOBroadcom	0.17%	$211.7m	560.5K	−74.8% Reduced
DECKDeckers Brands	0.16%	$211.4m	2.13M	+45.0% Added
AKAMAkamai Technologies	0.16%	$210.4m	1.78M	−1.8% Reduced
HALHalliburton	0.16%	$209.3m	6.16M	+196.1% Added
INTCIntel	0.16%	$209.1m	1.50M	+325.7% Added
SUSuncor Energy Inc	0.16%	$208.9m	3.89M	+73.3% Added
LITELumentum	0.16%	$206.1m	240.2K	−39.5% Reduced
BRBroadridge Financial Solutions	0.16%	$204.7m	1.50M	+312.3% Added
SPGIS&P Global	0.15%	$198.9m	488.5K	+275.6% Added
VALEVale S.a.	0.15%	$197.4m	13.12M	+23.7% Added
ALBAlbemarle Corporation	0.15%	$197.2m	1.46M	−37.1% Reduced
FTVFortive	0.15%	$196.1m	3.21M	New
TEAMAtlassian Corp	0.15%	$194.1m	2.49M	−46.3% Reduced
ZIONZions Bancorporation, National Association	0.15%	$193.3m	2.79M	+27.9% Added
CNQCanadian Natural Resources Ltd	0.15%	$193.2m	4.89M	+2414.8% Added
UUnity Software Inc.	0.15%	$192.9m	6.75M	−14.6% Reduced
NYTNEW York Times Co	0.15%	$190.9m	2.73M	+18.1% Added
BNYBNY Mellon	0.15%	$190.2m	1.31M	+580.1% Added
DUOLDuolingo, Inc.	0.15%	$187.4m	1.63M	+16.7% Added
MSCIMSCI	0.14%	$185.0m	330.3K	−43.2% Reduced
TTTrane Technologies	0.14%	$184.0m	374.6K	+425.1% Added

Company	Bought (value)	Shares
INTUIntuit	$564.2m	2.16M
WFCWells Fargo	$469.6m	5.68M
BSXBoston Scientific	$424.6m	9.95M
GSGoldman Sachs	$392.2m	387.8K
AMGNAmgen	$382.8m	1.06M
TXNTexas Instruments	$370.4m	1.24M
DOWDow Inc.	$365.7m	13.37M
CMGChipotle Mexican Grill	$349.2m	10.27M
CRWVCoreweave, Inc.	$330.2m	3.32M
APLDApplied Digital Corp.	$324.8m	8.71M
CICigna	$323.0m	1.17M
SPCXSpace Exploration Technologies Corp	$303.3m	1.78M
SCHWCharles Schwab Corporation	$282.8m	3.07M
BLKBlackRock	$281.1m	292.3K
CMECME Group	$280.2m	1.27M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
MUMicron Technology	−$2.0bn	−1.76M
SNDKSandisk	−$1.2bn	−521.1K
DELLDell Technologies	−$1.0bn	−2.38M
NVDANVIDIA Corporation	−$990.4m	−4.95M
GOOGLAlphabet Inc. (Class A)	−$780.8m	−2.18M
AVGOBroadcom	−$628.8m	−1.66M
UNHUnitedHealth Group	−$624.9m	−1.50M
LRCXLam Research	−$553.4m	−1.28M
AAPLApple Inc.	−$511.6m	−1.77M
ANETArista Networks	−$476.2m	−2.80M
BEBloom Energy	−$463.5m	−1.53M
NOWServiceNow	−$450.1m	−4.53M
CRWDCrowdStrike	−$446.0m	−584.4K
ADBEAdobe Inc.	−$417.4m	−2.04M
GEVGE Vernova	−$373.3m	−317.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
CHTRCharter Communications	$65.2m	302.2K
ECLEcolab	$58.5m	219.8K
UHSUniversal Health Services	$27.9m	155.8K
MCDMcDonald's	$23.9m	76.9K
OTFBlue Owl Technology Finance Corp.	$15.8m	1.27M
EEFTEuronet Worldwide, Inc.	$12.9m	194.4K
SHAKShake Shack Inc.	$11.7m	132.6K
HUMHumana	$10.2m	58.7K
NTRSNorthern Trust	$9.5m	67.8K
CGNXCognex Corp	$8.2m	167.8K
GLPIGaming & Leisure Properties, Inc.	$7.5m	168.0K
OGSONE Gas, Inc.	$6.8m	79.2K
BOBSBob's Discount Furniture, Inc.	$6.6m	564.1K
IRTCIrhythm Holdings, Inc.	$6.2m	52.6K
RYNRayonier Inc	$6.2m	300.6K
DAAQDigital Asset Acquisition Corp.	$5.6m	543.8K
FEFirstEnergy	$5.4m	106.3K
RDDTReddit, Inc.	$5.1m	38.2K
LNTAlliant Energy	$4.9m	68.9K
FACTFact II Acquisition Corp.	$4.9m	464.7K
BMIBadger Meter Inc	$4.7m	31.0K
INSPInspire Medical Systems, Inc.	$4.4m	85.1K
PFSIPennymac Financial Services, Inc.	$4.2m	47.8K
ERIEErie Indemnity	$4.1m	16.3K
TACTransalta Corp	$4.0m	302.3K
QBTSD-wave Quantum Inc.	$3.8m	265.1K
VICIVici Properties	$3.8m	137.7K
WAYWaystar Holding Corp.	$3.6m	151.0K
CRLCharles River Laboratories	$3.6m	20.6K
HIIHuntington Ingalls Industries	$3.5m	9.1K

Technology24.1%
Financials15.4%
Industrials14.2%
Health Care14.0%
Consumer Discretionary10.4%
Materials5.0%
Consumer Staples4.0%
Energy3.9%
Communication Services3.6%
Real Estate3.3%
Utilities2.1%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestAugust 16, 2013 to November 2, 2026	+12.9%	+14.1%	0.65	0.76	−36.4%	1.03
2018 onwardsJanuary 5, 2018 to November 2, 2026	+13.2%	+13.9%	0.58	0.66	−36.4%	1.07
Last three yearsNovember 3, 2023 to November 2, 2026	+22.6%	+21.8%	1.13	1.16	−17.4%	0.97
Last yearNovember 7, 2025 to November 2, 2026	+16.8%	+14.2%	0.97	0.84	−8.4%	0.87

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.