Two Sigma Advisers, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Two Sigma Advisers, LP reported 2,300 stock positions worth $48.8 billion. Its top holding was Nvidia (NVDA) at 3.0% of the portfolio, followed by Microsoft (MSFT, 3.0%) and Apple (AAPL, 2.7%). Compared with Q1 2025, it opened 252 new positions, sold out of 312, added to 863 and reduced 1,164. The biggest buy was Netflix (NFLX, shares +153%) and the biggest sale Broadcom (AVGO, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001478735
- Portfolio Value
- $48.8B (Q2 2025)
- SEC Filing
- 0000899140-25-000953 ↗ filed Aug 14, 2025
Holdings Value
Holdings 2,300 stocks · $48.8B
| NVDA Nvidia Corp. | 3.03% | 9,361,800 | $1.5B | Reduce -12.9% |
| MSFT Microsoft Corp. | 3.01% | 2,951,300 | $1.5B | Add +16.5% |
| AAPL Apple Inc. | 2.68% | 6,382,300 | $1.3B | Add +8.0% |
| AMZN Amazon.com Inc. | 2.18% | 4,857,120 | $1.1B | Add +8.3% |
| GOOGL Alphabet Inc. Class A | 1.64% | 4,547,100 | $801.3M | Reduce -0.1% |
| NFLX Netflix Inc. | 1.43% | 519,900 | $696.2M | Add +152.8% |
| MA Mastercard Inc. Class A | 1.35% | 1,176,300 | $661.0M | Add +3.7% |
| COST Costco Wholesale Corp. | 1.29% | 637,300 | $630.9M | Add +174.2% |
| CRM Salesforce Inc. | 1.20% | 2,154,300 | $587.5M | Add +32.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.20% | 12,359,800 | $584.9M | Add +14.3% |
| SNOW Snowflake Inc. | 1.18% | 2,577,600 | $576.8M | Reduce -19.5% |
| ADBE Adobe Inc. | 1.17% | 1,470,300 | $568.8M | Add +6.3% |
| CVNA Carvana Co. | 1.16% | 1,681,235 | $566.5M | Add +55.1% |
| PLTR Palantir Technologies Inc. Class A | 1.16% | 4,151,700 | $566.0M | Add +84.0% |
| BSX Boston Scientific Corp. | 1.14% | 5,169,960 | $555.3M | Add +22.9% |
| RBLX Roblox Corp. Class A | 1.09% | 5,036,500 | $529.8M | Reduce -31.3% |
| SCHW Schwab (charles) Corp. | 1.06% | 5,644,295 | $515.0M | Add +15.8% |
| CME Cme Group Inc. | 1.04% | 1,841,416 | $507.5M | Reduce -7.8% |
| REGN Regeneron Pharmaceuticals | 1.01% | 938,500 | $492.7M | Add +69.5% |
| TMUS T-Mobile US Inc. | 1.00% | 2,042,369 | $486.6M | Add +2398.4% |
| LMT Lockheed Martin Corp. | 0.97% | 1,027,300 | $475.8M | Reduce -11.6% |
| MSCI MSCI Inc. | 0.96% | 810,300 | $467.3M | Add +6.2% |
| MRK Merck & Co. Inc. | 0.92% | 5,678,600 | $449.5M | Add +72.7% |
| COR Cencora Inc. | 0.89% | 1,445,700 | $433.5M | Reduce -12.6% |
| TEAM Atlassian Corp. Class A | 0.84% | 2,020,600 | $410.4M | Add +285.4% |
| QCOM Qualcomm Inc. | 0.79% | 2,421,900 | $385.7M | Reduce -5.7% |
| NKE Nike Inc. Class B | 0.79% | 5,406,200 | $384.1M | Add +8066.5% |
| ABNB Airbnb Inc. Class A | 0.76% | 2,798,600 | $370.4M | Add +22.2% |
| GEV GE Vernova Inc. | 0.75% | 691,179 | $365.7M | Add +250.0% |
| ZS Zscaler Inc. | 0.74% | 1,151,300 | $361.4M | Add +60.2% |
| DASH DoorDash Inc. Class A | 0.73% | 1,444,200 | $356.0M | Reduce -46.4% |
| CPNG Coupang Inc. | 0.72% | 11,757,600 | $352.3M | Add +111.8% |
| DHR Danaher Corp. | 0.70% | 1,726,600 | $341.1M | Reduce -11.0% |
| INTU Intuit Inc. | 0.69% | 426,700 | $336.1M | Add +251.2% |
| ISRG Intuitive Surgical Inc. | 0.65% | 579,300 | $314.8M | Reduce -17.2% |
| DUOL Duolingo | 0.63% | 747,600 | $306.5M | Add +340.3% |
| SE Sea Ltd.-ADR | 0.62% | 1,906,300 | $304.9M | Add +174.2% |
| TSLA Tesla Inc. | 0.60% | 919,193 | $292.0M | Reduce -35.9% |
| HOOD Robinhood Markets Inc. Class A | 0.57% | 2,987,200 | $279.7M | Reduce -48.2% |
| LNG Cheniere Energy Inc. | 0.56% | 1,127,100 | $274.5M | Reduce -35.6% |
| AON Aon PLC Class A | 0.53% | 724,400 | $258.4M | New |
| JNPR Juniper Networks Inc. | 0.50% | 6,141,500 | $245.2M | Add +4.3% |
| HUBS HubSpot Inc. | 0.49% | 432,915 | $241.0M | Add +119.2% |
| UNH Unitedhealth Group Inc. | 0.49% | 759,500 | $236.9M | New |
| VEEV Veeva Systems Inc. Class A | 0.47% | 801,000 | $230.7M | Add +26.3% |
| EXE Expand Energy Corp. | 0.46% | 1,929,935 | $225.7M | Add +137.6% |
| NOC Northrop Grumman Corp. | 0.45% | 442,500 | $221.2M | Reduce -47.8% |
| MCK McKesson Corp. | 0.45% | 299,300 | $219.3M | Add +1.4% |
| MRNA Moderna Inc. | 0.44% | 7,815,700 | $215.6M | Add +105.2% |
| IT Gartner Inc. | 0.43% | 515,600 | $208.4M | Reduce -1.8% |
| RIVN Rivian Automotive Inc. Class A | 0.43% | 15,119,700 | $207.7M | Add +532.9% |
| ANET Arista Networks Inc. | 0.41% | 1,943,800 | $198.9M | Reduce -12.7% |
| WCN Waste Connections Inc. | 0.40% | 1,043,550 | $194.9M | Reduce -5.2% |
| FTNT Fortinet Inc. | 0.40% | 1,834,320 | $193.9M | Reduce -59.1% |
| META Meta Platforms Inc. Class A | 0.39% | 260,100 | $192.0M | Reduce -54.3% |
| RDDT Reddit Inc. Class A | 0.39% | 1,266,600 | $190.7M | Add +57.0% |
| HUM Humana Inc. | 0.38% | 767,380 | $187.6M | Reduce -27.1% |
| IBKR Interactive Brokers Gro Class A | 0.38% | 3,378,900 | $187.2M | Reduce -0.4% |
| BTI British American Tob-SP ADR | 0.38% | 3,881,700 | $183.7M | Add +264.4% |
| COP Conocophillips | 0.38% | 2,039,478 | $183.0M | Reduce -2.3% |
| CNC Centene Corp. | 0.36% | 3,269,276 | $177.5M | Reduce -1.1% |
| IQV Iqvia Holdings Inc. | 0.36% | 1,107,300 | $174.5M | Add +36.9% |
| FNV Franco-Nevada Corp. | 0.34% | 1,011,800 | $165.9M | Reduce -13.5% |
| NDAQ Nasdaq Inc. | 0.33% | 1,812,500 | $162.1M | Add +0.1% |
| TMO Thermo Fisher Scientific Inc. | 0.33% | 392,700 | $159.2M | Reduce -25.8% |
| SPOT Spotify Technology SA | 0.33% | 207,236 | $159.0M | Reduce -53.9% |
| SOFI Sofi Technologies Inc. | 0.32% | 8,620,600 | $157.0M | Reduce -8.6% |
| PG The Procter & Gamble Co. | 0.32% | 982,500 | $156.5M | Add +1208.3% |
| ADC Agree Realty Corp. | 0.32% | 2,138,187 | $156.2M | Add +2.9% |
| DHI D.R. Horton Inc. | 0.30% | 1,139,500 | $146.9M | Add +2.4% |
| RSG Republic Services Inc. | 0.30% | 594,200 | $146.5M | Add +1.0% |
| ICE Intercontinental Exchange Inc. | 0.30% | 785,600 | $144.1M | Reduce -57.1% |
| CBOE Cboe Global Markets Inc. | 0.29% | 614,000 | $143.2M | Add +2.4% |
| CHWY Chewy Inc. Class A | 0.29% | 3,341,000 | $142.4M | Add +1254.8% |
| GDDY GoDaddy Inc. Class A | 0.29% | 790,700 | $142.4M | Add +1896.7% |
| HEI Heico Corp. | 0.29% | 431,478 | $141.5M | Add +2.3% |
| AER Aercap Holdings NV | 0.29% | 1,201,100 | $140.5M | Add +14.5% |
| MOS The Mosaic Co. | 0.29% | 3,840,400 | $140.1M | Reduce -16.2% |
| VIK Viking Holdings Ltd. | 0.29% | 2,612,800 | $139.2M | Reduce -14.2% |
| BABA Alibaba Group Holding-SP ADR | 0.28% | 1,218,700 | $138.2M | New |
| BBD Banco Bradesco-ADR | 0.28% | 44,454,120 | $137.4M | Reduce -7.4% |
| GM General Motors Co. | 0.28% | 2,786,400 | $137.1M | Add +73.6% |
| NET Cloudflare Inc. Class A | 0.28% | 699,900 | $137.1M | Reduce -9.5% |
| AEP American Electric Power | 0.27% | 1,282,900 | $133.1M | Add +74.0% |
| ESTC Elastic NV | 0.27% | 1,558,200 | $131.4M | Add +133.1% |
| MPC Marathon Petroleum Corp. | 0.27% | 784,600 | $130.3M | Reduce -12.1% |
| CAG Conagra Brands Inc. | 0.26% | 6,288,600 | $128.7M | Reduce -7.0% |
| VRSK Verisk Analytics Inc. | 0.26% | 399,531 | $124.5M | Reduce -37.9% |
| GH Guardant Health Inc. | 0.25% | 2,381,800 | $123.9M | Add +0.6% |
| CB Chubb Ltd. | 0.25% | 424,713 | $123.0M | Add +3944.9% |
| CAT Caterpillar Inc. | 0.25% | 312,700 | $121.4M | New |
| RACE Ferrari NV | 0.25% | 245,600 | $120.5M | Add +22.6% |
| DG Dollar General Corp. | 0.24% | 1,040,825 | $119.0M | Reduce -53.8% |
| FIVE Five Below | 0.24% | 898,500 | $117.9M | Add +109.6% |
| VRNS Varonis Systems Inc. | 0.24% | 2,274,000 | $115.4M | Add +0.0% |
| PNW Pinnacle West Capital | 0.24% | 1,287,900 | $115.2M | Add +32.9% |
| CRDO Credo Technology Group Holdi | 0.22% | 1,170,700 | $108.4M | Add +26.7% |
| UPS United Parcel Service Class B | 0.22% | 1,057,600 | $106.8M | Reduce -23.8% |
| MSI Motorola Solutions Inc. | 0.22% | 253,200 | $106.5M | Add +87.7% |
| SYK Stryker Corp. | 0.22% | 266,800 | $105.6M | Add +170.6% |
Portfolio Sells Q1 2025 → Q2 2025
| AVGO Broadcom Inc. | Reduce -91.1% | 0.20% | −1.27 |
| CSCO Cisco Systems Inc. | Reduce -89.8% | 0.09% | −0.75 |
| AMGN Amgen Inc. | Reduce -99.6% | 0.00% | −0.70 |
| FTNT Fortinet Inc. | Reduce -59.1% | 0.40% | −0.57 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -71.3% | 0.20% | −0.56 |
| NOC Northrop Grumman Corp. | Reduce -47.8% | 0.45% | −0.52 |
| CMCSA Comcast Corp. Class A | Reduce -82.3% | 0.08% | −0.42 |
| MRVL Marvell Technology Inc. | Reduce -98.7% | 0.01% | −0.42 |
| ICE Intercontinental Exchange Inc. | Reduce -57.1% | 0.30% | −0.42 |
| DASH DoorDash Inc. Class A | Reduce -46.4% | 0.73% | −0.38 |
| LHX L3HARRIS Technologies Inc. | Reduce -97.4% | 0.01% | −0.36 |
| LNG Cheniere Energy Inc. | Reduce -35.6% | 0.56% | −0.35 |
| GD General Dynamics Corp. | Reduce -73.9% | 0.12% | −0.35 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.35 |
| META Meta Platforms Inc. Class A | Reduce -54.3% | 0.39% | −0.35 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.29 |
| TWLO Twilio Inc. Class A | Reduce -90.2% | 0.04% | −0.28 |
| TMO Thermo Fisher Scientific Inc. | Reduce -25.8% | 0.33% | −0.27 |
| LLY Eli Lilly & Co. | Reduce -85.2% | 0.04% | −0.26 |
| F Ford Motor Co. | Reduce -93.4% | 0.02% | −0.26 |
| AMCR Amcor PLC | Reduce -55.4% | 0.15% | −0.25 |
| HUM Humana Inc. | Reduce -27.1% | 0.38% | −0.24 |
| TSLA Tesla Inc. | Reduce -35.9% | 0.60% | −0.24 |
| LIN Linde PLC | Reduce -94.3% | 0.01% | −0.23 |
| SPOT Spotify Technology SA | Reduce -53.9% | 0.33% | −0.23 |
| PANW Palo Alto Networks Inc. | Reduce -72.8% | 0.09% | −0.21 |
| DG Dollar General Corp. | Reduce -53.8% | 0.24% | −0.20 |
| DHR Danaher Corp. | Reduce -11.0% | 0.70% | −0.20 |
| LMT Lockheed Martin Corp. | Reduce -11.6% | 0.97% | −0.19 |
| TSN Tyson Foods Inc. Class A | Reduce -89.0% | 0.02% | −0.18 |
| VRSK Verisk Analytics Inc. | Reduce -37.9% | 0.26% | −0.18 |
| CI The Cigna Group | Reduce -40.8% | 0.21% | −0.18 |
| BAH Booz Allen Hamilton Holdings | Reduce -98.7% | 0.00% | −0.17 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.17 |
| EFX Equifax Inc. | Reduce -72.2% | 0.06% | −0.17 |
| OXY Occidental Petroleum Corp. | Reduce -75.6% | 0.04% | −0.17 |
| CL Colgate-Palmolive Co. | Reduce -85.4% | 0.02% | −0.16 |
| WING Wingstop Inc. | Reduce -99.5% | 0.00% | −0.16 |
| ADSK Autodesk Inc. | Reduce -92.8% | 0.01% | −0.15 |
| CME Cme Group Inc. | Reduce -7.8% | 1.04% | −0.15 |
| YUM Yum! Brands Inc. | Sold out | 0.00% | −0.15 |
| EXEL Exelixis Inc. | Reduce -81.2% | 0.04% | −0.15 |
| COR Cencora Inc. | Reduce -12.6% | 0.89% | −0.15 |
| CCL Carnival Corp. | Reduce -94.9% | 0.01% | −0.15 |
| CAG Conagra Brands Inc. | Reduce -7.0% | 0.26% | −0.14 |
| EXPD Expeditors Intl Wash Inc. | Sold out | 0.00% | −0.14 |
| RPRX Royalty Pharma PLC Class A | Reduce -70.8% | 0.06% | −0.14 |
| KMI Kinder Morgan Inc. | Reduce -98.3% | 0.00% | −0.14 |
| SJM The JM Smucker Co. | Sold out | 0.00% | −0.14 |
| ISRG Intuitive Surgical Inc. | Reduce -17.2% | 0.65% | −0.14 |
Portfolio Buys Q1 2025 → Q2 2025
| NFLX Netflix Inc. | Add +152.8% | 1.43% | +0.99 |
| TMUS T-Mobile US Inc. | Add +2398.4% | 1.00% | +0.95 |
| MSFT Microsoft Corp. | Add +16.5% | 3.01% | +0.87 |
| COST Costco Wholesale Corp. | Add +174.2% | 1.29% | +0.80 |
| NKE Nike Inc. Class B | Add +8066.5% | 0.79% | +0.78 |
| PLTR Palantir Technologies Inc. Class A | Add +84.0% | 1.16% | +0.73 |
| CVNA Carvana Co. | Add +55.1% | 1.16% | +0.65 |
| GEV GE Vernova Inc. | Add +250.0% | 0.75% | +0.61 |
| TEAM Atlassian Corp. Class A | Add +285.4% | 0.84% | +0.59 |
| AON Aon PLC Class A | New | 0.53% | +0.53 |
| INTU Intuit Inc. | Add +251.2% | 0.69% | +0.52 |
| DUOL Duolingo | Add +340.3% | 0.63% | +0.51 |
| UNH Unitedhealth Group Inc. | New | 0.49% | +0.49 |
| CPNG Coupang Inc. | Add +111.8% | 0.72% | +0.45 |
| SE Sea Ltd.-ADR | Add +174.2% | 0.62% | +0.42 |
| ZS Zscaler Inc. | Add +60.2% | 0.74% | +0.42 |
| RIVN Rivian Automotive Inc. Class A | Add +532.9% | 0.43% | +0.36 |
| PG The Procter & Gamble Co. | Add +1208.3% | 0.32% | +0.29 |
| BABA Alibaba Group Holding-SP ADR | New | 0.28% | +0.28 |
| BTI British American Tob-SP ADR | Add +264.4% | 0.38% | +0.28 |
| GDDY GoDaddy Inc. Class A | Add +1896.7% | 0.29% | +0.28 |
| CHWY Chewy Inc. Class A | Add +1254.8% | 0.29% | +0.27 |
| AMZN Amazon.com Inc. | Add +8.3% | 2.18% | +0.26 |
| EXE Expand Energy Corp. | Add +137.6% | 0.46% | +0.26 |
| MRK Merck & Co. Inc. | Add +72.7% | 0.92% | +0.26 |
| CAT Caterpillar Inc. | New | 0.25% | +0.25 |
| CB Chubb Ltd. | Add +3944.9% | 0.25% | +0.24 |
| HUBS HubSpot Inc. | Add +119.2% | 0.49% | +0.24 |
| CRM Salesforce Inc. | Add +32.2% | 1.20% | +0.22 |
| REGN Regeneron Pharmaceuticals | Add +69.5% | 1.01% | +0.22 |
| RDDT Reddit Inc. Class A | Add +57.0% | 0.39% | +0.20 |
| MRNA Moderna Inc. | Add +105.2% | 0.44% | +0.20 |
| SCHW Schwab (charles) Corp. | Add +15.8% | 1.06% | +0.20 |
| UNP Union Pacific Corp. | Add +20424.8% | 0.19% | +0.19 |
| ON On Semiconductor | Add +18241.7% | 0.19% | +0.19 |
| APH Amphenol Corp. Class A | New | 0.18% | +0.18 |
| JPM JPMorgan Chase & Co. | Add +1774.6% | 0.19% | +0.18 |
| BAC Bank of America Corp. | Add +14.3% | 1.20% | +0.18 |
| BSX Boston Scientific Corp. | Add +22.9% | 1.14% | +0.18 |
| MRSH Marsh & McLennan Cos | Add +1000.2% | 0.19% | +0.17 |
| FIVE Five Below | Add +109.6% | 0.24% | +0.17 |
| CLX Clorox Company | Add +1816.7% | 0.18% | +0.17 |
| DECK Deckers Outdoor Corp. | Add +19853.8% | 0.16% | +0.16 |
| SAIA Saia Inc. | New | 0.16% | +0.16 |
| DDOG Datadog Inc. Class A | Add +754.8% | 0.16% | +0.15 |
| ABNB Airbnb Inc. Class A | Add +22.2% | 0.76% | +0.14 |
| VEEV Veeva Systems Inc. Class A | Add +26.3% | 0.47% | +0.14 |
| CRDO Credo Technology Group Holdi | Add +26.7% | 0.22% | +0.14 |
| ESTC Elastic NV | Add +133.1% | 0.27% | +0.14 |
| DAVE Dave Inc. | Add +2089.1% | 0.14% | +0.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 0 | $0 | |
| Q1 2026 | 0 | $0 | |
| Q4 2025 | 2,329 | $51.4B | NVDA, AAPL, MSFT, AMZN, JPM |
| Q3 2025 | 2,311 | $50.0B | NVDA, MSFT, AAPL, AMZN, JPM |
| Q2 2025 | 2,300 | $48.8B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q1 2025 | 2,360 | $44.4B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q4 2024 | 2,329 | $43.2B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2024 | 2,260 | $42.7B | AAPL, MSFT, NVDA, GOOGL, AVGO |
| Q2 2024 | 2,414 | $44.8B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 2,431 | $43.2B | AAPL, MSFT, AMZN, NVDA, META |