Two Sigma Advisers, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Two Sigma Advisers, LP reported 2,311 stock positions worth $50.0 billion. Its top holding was Nvidia (NVDA) at 3.1% of the portfolio, followed by Microsoft (MSFT, 3.0%) and Apple (AAPL, 2.8%). Compared with Q2 2025, it opened 395 new positions, sold out of 384, added to 928 and reduced 981. The biggest buy was JPMorgan Chase (JPM, shares +652%) and the biggest sale Snowflake (SNOW, shares −81%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001478735
- Portfolio Value
- $50.0B (Q3 2025)
- SEC Filing
- 0000899140-25-001279 ↗ filed Nov 14, 2025
Holdings Value
Holdings 2,311 stocks · $50.0B
| NVDA Nvidia Corp. | 3.07% | 8,217,400 | $1.5B | Reduce -12.2% |
| MSFT Microsoft Corp. | 3.03% | 2,927,500 | $1.5B | Reduce -0.8% |
| AAPL Apple Inc. | 2.79% | 5,472,600 | $1.4B | Reduce -14.3% |
| AMZN Amazon.com Inc. | 2.14% | 4,868,520 | $1.1B | Add +0.2% |
| JPM JPMorgan Chase & Co. | 1.54% | 2,439,100 | $769.4M | Add +652.1% |
| PLTR Palantir Technologies Inc. Class A | 1.35% | 3,706,300 | $676.1M | Reduce -10.7% |
| NFLX Netflix Inc. | 1.34% | 558,100 | $669.1M | Add +7.3% |
| META Meta Platforms Inc. Class A | 1.33% | 905,600 | $665.1M | Add +248.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.27% | 12,307,200 | $634.9M | Reduce -0.4% |
| MA Mastercard Inc. Class A | 1.25% | 1,102,200 | $626.9M | Reduce -6.3% |
| COST Costco Wholesale Corp. | 1.19% | 640,500 | $592.9M | Add +0.5% |
| LMT Lockheed Martin Corp. | 1.18% | 1,181,400 | $589.8M | Add +15.0% |
| ISRG Intuitive Surgical Inc. | 1.14% | 1,278,400 | $571.7M | Add +120.7% |
| ADBE Adobe Inc. | 1.14% | 1,612,800 | $568.9M | Add +9.7% |
| SCHW Schwab (charles) Corp. | 1.14% | 5,958,895 | $568.9M | Add +5.6% |
| WMT Walmart Inc. | 1.11% | 5,384,800 | $555.0M | Add +2081.9% |
| GEV GE Vernova Inc. | 1.06% | 861,400 | $529.7M | Add +24.6% |
| BSX Boston Scientific Corp. | 1.04% | 5,339,760 | $521.3M | Add +3.3% |
| REGN Regeneron Pharmaceuticals | 1.04% | 926,200 | $520.8M | Reduce -1.3% |
| TMUS T-Mobile US Inc. | 1.04% | 2,169,387 | $519.3M | Add +6.2% |
| ABNB Airbnb Inc. Class A | 0.90% | 3,720,900 | $451.8M | Add +33.0% |
| JNJ Johnson & Johnson | 0.87% | 2,346,243 | $435.0M | Add +459.9% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.81% | 892,500 | $407.0M | Add +235.4% |
| MU Micron Technology Inc. | 0.81% | 2,422,000 | $405.2M | Add +80633.3% |
| RBLX Roblox Corp. Class A | 0.80% | 2,894,800 | $401.0M | Reduce -42.5% |
| GOOGL Alphabet Inc. Class A | 0.77% | 1,585,800 | $385.5M | Reduce -65.1% |
| PGR Progressive Corp. | 0.75% | 1,519,600 | $375.3M | Add +958.2% |
| UNP Union Pacific Corp. | 0.75% | 1,582,701 | $374.1M | Add +285.4% |
| QCOM Qualcomm Inc. | 0.73% | 2,202,400 | $366.4M | Reduce -9.1% |
| TSLA Tesla Inc. | 0.73% | 818,393 | $364.0M | Reduce -11.0% |
| CB Chubb Ltd. | 0.71% | 1,264,013 | $356.8M | Add +197.6% |
| CPNG Coupang Inc. | 0.68% | 10,526,600 | $339.0M | Reduce -10.5% |
| NET Cloudflare Inc. Class A | 0.66% | 1,534,300 | $329.2M | Add +119.2% |
| CRM Salesforce Inc. | 0.62% | 1,314,300 | $311.5M | Reduce -39.0% |
| PG The Procter & Gamble Co. | 0.62% | 2,017,000 | $309.9M | Add +105.3% |
| DASH DoorDash Inc. Class A | 0.61% | 1,126,600 | $306.4M | Reduce -22.0% |
| CVNA Carvana Co. | 0.59% | 785,835 | $296.4M | Reduce -53.3% |
| GDDY GoDaddy Inc. Class A | 0.59% | 2,145,000 | $293.5M | Add +171.3% |
| IBKR Interactive Brokers Gro Class A | 0.58% | 4,192,800 | $288.5M | Add +24.1% |
| TEAM Atlassian Corp. Class A | 0.56% | 1,737,200 | $277.4M | Reduce -14.0% |
| WCN Waste Connections Inc. | 0.54% | 1,527,750 | $268.6M | Add +46.4% |
| MRSH Marsh & McLennan Cos | 0.53% | 1,309,700 | $263.9M | Add +204.3% |
| GM General Motors Co. | 0.53% | 4,306,400 | $262.6M | Add +54.5% |
| NBIS Nebius Group NV | 0.51% | 2,286,600 | $256.7M | Add +3939.9% |
| MPC Marathon Petroleum Corp. | 0.50% | 1,302,100 | $251.0M | Add +66.0% |
| CLX Clorox Company | 0.50% | 2,034,600 | $250.9M | Add +180.8% |
| CAT Caterpillar Inc. | 0.50% | 525,300 | $250.6M | Add +68.0% |
| HUBS HubSpot Inc. | 0.50% | 529,400 | $247.7M | Add +22.3% |
| CME Cme Group Inc. | 0.50% | 916,200 | $247.5M | Reduce -50.2% |
| AER Aercap Holdings NV | 0.45% | 1,863,900 | $225.5M | Add +55.2% |
| BE Bloom Energy Corp. Class A | 0.45% | 2,641,734 | $223.4M | Reduce -39.5% |
| SOFI Sofi Technologies Inc. | 0.44% | 8,394,200 | $221.8M | Reduce -2.6% |
| SE Sea Ltd.-ADR | 0.44% | 1,228,100 | $219.5M | Reduce -35.6% |
| ALAB Astera Labs Inc. | 0.43% | 1,095,600 | $214.5M | Add +89.7% |
| BMY Bristol-Myers Squibb Co. | 0.43% | 4,721,300 | $212.9M | Add +322.5% |
| FNV Franco-Nevada Corp. | 0.42% | 952,102 | $212.2M | Reduce -5.9% |
| RIVN Rivian Automotive Inc. Class A | 0.42% | 14,280,100 | $209.6M | Reduce -5.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.42% | 1,447,098 | $209.2M | New |
| HON Honeywell International Inc. | 0.41% | 980,100 | $206.3M | Add +1089.4% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.41% | 12,746,000 | $204.1M | Add +506.1% |
| CRDO Credo Technology Group Holdi | 0.41% | 1,392,300 | $202.7M | Add +18.9% |
| VIK Viking Holdings Ltd. | 0.40% | 3,180,500 | $197.7M | Add +21.7% |
| MRK Merck & Co. Inc. | 0.39% | 2,320,900 | $194.8M | Reduce -59.1% |
| LNG Cheniere Energy Inc. | 0.39% | 820,200 | $192.7M | Reduce -27.2% |
| VLO Valero Energy Corp. | 0.37% | 1,092,600 | $186.0M | Add +142.3% |
| INTC Intel Corp. | 0.37% | 5,441,450 | $182.6M | Add +87.5% |
| ZS Zscaler Inc. | 0.36% | 604,100 | $181.0M | Reduce -47.5% |
| AMD Advanced Micro Devices | 0.36% | 1,112,940 | $180.1M | New |
| W Wayfair Inc. Class A | 0.36% | 1,998,800 | $178.6M | Add +11.8% |
| ODFL Old Dominion Freight Line | 0.36% | 1,260,400 | $177.4M | Add +1066.0% |
| CAG Conagra Brands Inc. | 0.35% | 9,642,900 | $176.6M | Add +53.3% |
| ACN Accenture PLC Class A | 0.35% | 715,200 | $176.4M | Add +4314.8% |
| LRCX Lam Research Corp. | 0.35% | 1,316,200 | $176.2M | Add +283.3% |
| MRNA Moderna Inc. | 0.35% | 6,772,900 | $174.9M | Reduce -13.3% |
| LHX L3HARRIS Technologies Inc. | 0.33% | 545,500 | $166.6M | Add +2548.1% |
| MS Morgan Stanley | 0.33% | 1,023,836 | $162.7M | Add +8623.9% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.33% | 1,496,592 | $162.5M | New |
| LLY Eli Lilly & Co. | 0.33% | 213,000 | $162.5M | Add +806.4% |
| HEI Heico Corp. | 0.32% | 494,678 | $159.7M | Add +14.7% |
| CNC Centene Corp. | 0.32% | 4,442,692 | $158.5M | Add +35.9% |
| RSG Republic Services Inc. | 0.32% | 690,600 | $158.5M | Add +16.2% |
| ROKU Roku Inc. | 0.32% | 1,581,800 | $158.4M | Add +5035.7% |
| AVGO Broadcom Inc. | 0.31% | 467,010 | $154.1M | Add +34.7% |
| ADC Agree Realty Corp. | 0.31% | 2,165,887 | $153.9M | Add +1.3% |
| FTNT Fortinet Inc. | 0.30% | 1,792,320 | $150.7M | Reduce -2.3% |
| ANET Arista Networks Inc. | 0.29% | 997,700 | $145.4M | Reduce -48.7% |
| AAL American Airlines Group Inc. | 0.29% | 12,859,900 | $144.5M | Add +49.0% |
| NDAQ Nasdaq Inc. | 0.29% | 1,630,100 | $144.2M | Reduce -10.1% |
| COP Conocophillips | 0.29% | 1,506,678 | $142.5M | Reduce -26.1% |
| MSCI MSCI Inc. | 0.28% | 247,500 | $140.4M | Reduce -69.5% |
| IONS Ionis Pharmaceuticals Inc. | 0.27% | 2,073,111 | $135.6M | Reduce -22.3% |
| MARA Mara Holdings Inc. | 0.27% | 7,419,754 | $135.5M | New |
| CPB The Campbell's Company | 0.27% | 4,267,400 | $134.8M | Add +183.2% |
| GH Guardant Health Inc. | 0.26% | 2,112,800 | $132.0M | Reduce -11.3% |
| RDDT Reddit Inc. Class A | 0.26% | 560,600 | $128.9M | Reduce -55.7% |
| BBD Banco Bradesco-ADR | 0.26% | 38,026,420 | $128.5M | Reduce -14.5% |
| ON On Semiconductor | 0.25% | 2,581,100 | $127.3M | Add +46.6% |
| GS Goldman Sachs Group Inc. | 0.24% | 153,200 | $122.0M | Add +82.2% |
| VEEV Veeva Systems Inc. Class A | 0.24% | 402,000 | $119.8M | Reduce -49.8% |
| CHWY Chewy Inc. Class A | 0.23% | 2,846,000 | $115.1M | Reduce -14.8% |
Portfolio Sells Q2 2025 → Q3 2025
| SNOW Snowflake Inc. | Reduce -81.3% | 0.22% | −0.96 |
| GOOGL Alphabet Inc. Class A | Reduce -65.1% | 0.77% | −0.87 |
| COR Cencora Inc. | Reduce -94.7% | 0.05% | −0.84 |
| INTU Intuit Inc. | Reduce -98.5% | 0.01% | −0.68 |
| MSCI MSCI Inc. | Reduce -69.5% | 0.28% | −0.68 |
| DHR Danaher Corp. | Reduce -83.3% | 0.11% | −0.58 |
| NKE Nike Inc. Class B | Reduce -73.0% | 0.20% | −0.58 |
| CRM Salesforce Inc. | Reduce -39.0% | 0.62% | −0.58 |
| CVNA Carvana Co. | Reduce -53.3% | 0.59% | −0.57 |
| CME Cme Group Inc. | Reduce -50.2% | 0.50% | −0.54 |
| MRK Merck & Co. Inc. | Reduce -59.1% | 0.39% | −0.53 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.53 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.50 |
| UNH Unitedhealth Group Inc. | Reduce -99.8% | 0.00% | −0.48 |
| MCK McKesson Corp. | Reduce -95.0% | 0.02% | −0.43 |
| DUOL Duolingo | Reduce -56.6% | 0.21% | −0.42 |
| ZS Zscaler Inc. | Reduce -47.5% | 0.36% | −0.38 |
| IT Gartner Inc. | Reduce -80.7% | 0.05% | −0.37 |
| IQV Iqvia Holdings Inc. | Sold out | 0.00% | −0.36 |
| NOC Northrop Grumman Corp. | Reduce -81.8% | 0.10% | −0.36 |
| HOOD Robinhood Markets Inc. Class A | Reduce -73.3% | 0.23% | −0.34 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.33 |
| SPOT Spotify Technology SA | Reduce -96.0% | 0.01% | −0.31 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.30 |
| TEAM Atlassian Corp. Class A | Reduce -14.0% | 0.56% | −0.29 |
| RBLX Roblox Corp. Class A | Reduce -42.5% | 0.80% | −0.28 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.28 |
| BTI British American Tob-SP ADR | Reduce -73.6% | 0.11% | −0.27 |
| EXE Expand Energy Corp. | Reduce -49.9% | 0.21% | −0.26 |
| VEEV Veeva Systems Inc. Class A | Reduce -49.8% | 0.24% | −0.23 |
| ICE Intercontinental Exchange Inc. | Reduce -74.7% | 0.07% | −0.23 |
| CBOE Cboe Global Markets Inc. | Reduce -76.6% | 0.07% | −0.22 |
| RACE Ferrari NV | Reduce -82.7% | 0.04% | −0.21 |
| MSI Motorola Solutions Inc. | Reduce -91.2% | 0.02% | −0.20 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.19 |
| AR Antero Resources Corp. | Reduce -94.3% | 0.01% | −0.19 |
| HUM Humana Inc. | Reduce -50.4% | 0.20% | −0.19 |
| SE Sea Ltd.-ADR | Reduce -35.6% | 0.44% | −0.19 |
| AEP American Electric Power | Reduce -69.7% | 0.09% | −0.19 |
| MNST Monster Beverage Corp. | Reduce -95.7% | 0.01% | −0.18 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -91.4% | 0.01% | −0.18 |
| PKG Packaging Corp. of America | Sold out | 0.00% | −0.18 |
| LNG Cheniere Energy Inc. | Reduce -27.2% | 0.39% | −0.18 |
| AMCR Amcor PLC | Sold out | 0.00% | −0.15 |
| SAIA Saia Inc. | Reduce -90.5% | 0.02% | −0.15 |
| NTNX Nutanix Inc. Class A | Reduce -92.5% | 0.01% | −0.15 |
| VRSK Verisk Analytics Inc. | Reduce -44.2% | 0.11% | −0.14 |
| RBRK Rubrik Inc. Class A | Reduce -99.2% | 0.00% | −0.14 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −0.13 |
| RDDT Reddit Inc. Class A | Reduce -55.7% | 0.26% | −0.13 |
Portfolio Buys Q2 2025 → Q3 2025
| JPM JPMorgan Chase & Co. | Add +652.1% | 1.54% | +1.35 |
| WMT Walmart Inc. | Add +2081.9% | 1.11% | +1.06 |
| META Meta Platforms Inc. Class A | Add +248.2% | 1.33% | +0.94 |
| MU Micron Technology Inc. | Add +80633.3% | 0.81% | +0.81 |
| JNJ Johnson & Johnson | Add +459.9% | 0.87% | +0.74 |
| PGR Progressive Corp. | Add +958.2% | 0.75% | +0.67 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +235.4% | 0.81% | +0.64 |
| UNP Union Pacific Corp. | Add +285.4% | 0.75% | +0.56 |
| NBIS Nebius Group NV | Add +3939.9% | 0.51% | +0.51 |
| ISRG Intuitive Surgical Inc. | Add +120.7% | 1.14% | +0.50 |
| CB Chubb Ltd. | Add +197.6% | 0.71% | +0.46 |
| TJX TJX Companies Inc. | New | 0.42% | +0.42 |
| NET Cloudflare Inc. Class A | Add +119.2% | 0.66% | +0.38 |
| HON Honeywell International Inc. | Add +1089.4% | 0.41% | +0.37 |
| AMD Advanced Micro Devices | New | 0.36% | +0.36 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +506.1% | 0.41% | +0.35 |
| ACN Accenture PLC Class A | Add +4314.8% | 0.35% | +0.34 |
| MRSH Marsh & McLennan Cos | Add +204.3% | 0.53% | +0.34 |
| SJM The JM Smucker Co. | New | 0.33% | +0.33 |
| CLX Clorox Company | Add +180.8% | 0.50% | +0.32 |
| LHX L3HARRIS Technologies Inc. | Add +2548.1% | 0.33% | +0.32 |
| ALAB Astera Labs Inc. | Add +89.7% | 0.43% | +0.32 |
| MS Morgan Stanley | Add +8623.9% | 0.33% | +0.32 |
| BMY Bristol-Myers Squibb Co. | Add +322.5% | 0.43% | +0.32 |
| ODFL Old Dominion Freight Line | Add +1066.0% | 0.36% | +0.32 |
| ROKU Roku Inc. | Add +5035.7% | 0.32% | +0.31 |
| GEV GE Vernova Inc. | Add +24.6% | 1.06% | +0.31 |
| PG The Procter & Gamble Co. | Add +105.3% | 0.62% | +0.30 |
| GDDY GoDaddy Inc. Class A | Add +171.3% | 0.59% | +0.30 |
| LLY Eli Lilly & Co. | Add +806.4% | 0.33% | +0.29 |
| LRCX Lam Research Corp. | Add +283.3% | 0.35% | +0.28 |
| MARA Mara Holdings Inc. | New | 0.27% | +0.27 |
| CAT Caterpillar Inc. | Add +68.0% | 0.50% | +0.25 |
| VLO Valero Energy Corp. | Add +142.3% | 0.37% | +0.25 |
| GM General Motors Co. | Add +54.5% | 0.53% | +0.24 |
| MPC Marathon Petroleum Corp. | Add +66.0% | 0.50% | +0.24 |
| INTC Intel Corp. | Add +87.5% | 0.37% | +0.23 |
| LMT Lockheed Martin Corp. | Add +15.0% | 1.18% | +0.21 |
| CL Colgate-Palmolive Co. | Add +980.7% | 0.23% | +0.20 |
| FDX FedEx Corp. | Add +1748.3% | 0.21% | +0.20 |
| IBKR Interactive Brokers Gro Class A | Add +24.1% | 0.58% | +0.19 |
| TSM Taiwan Semiconductor-SP ADR | Add +521.6% | 0.22% | +0.19 |
| ARGX Argenx SE - ADR | Add +897.9% | 0.21% | +0.19 |
| CRDO Credo Technology Group Holdi | Add +18.9% | 0.41% | +0.18 |
| CPB The Campbell's Company | Add +183.2% | 0.27% | +0.18 |
| WULF Terawulf Inc. | Add +1150.0% | 0.18% | +0.17 |
| HLT Hilton Worldwide Holdings Inc. | Add +639.9% | 0.20% | +0.17 |
| W Wayfair Inc. Class A | Add +11.8% | 0.36% | +0.17 |
| AER Aercap Holdings NV | Add +55.2% | 0.45% | +0.16 |
| DE Deere & Co. | New | 0.15% | +0.15 |
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 |