13F filer · CIK 1009207 ↗
D. E. Shaw
You are looking at Q4 2025. See the latest, Q2 2026 →
Reported value
$182.42B
+3.0% on the quarter before
Positions
4,558
673 new · 624 sold out
Top 10
11.6%
of the value
Est. gain
+$2.23B
on stocks held all quarter
Est. return
+2.6%
on those stocks since Q3 2025
Positions as of Dec 31, 2025, from D. E. Shaw's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 19% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2025. Striped tiles are options.
Largest buys
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- AMD~$1.45BAdded · 0.0% → 0.8%+6,777,265 shares
- SPDR S&P 500 ETF Tr~$1.45BAdded · 1.3% → 2.0%+2,120,047 shares
- Ishares Tr~$804.8MNew · 0.0% → 0.4%+1,175,000 shares
- Amazon~$651.7MAdded · 0.4% → 0.8%+2,823,508 shares
- Texas Instruments~$627.3MAdded · 0.4% → 0.7%+3,615,526 shares
- Home Depot Inc~$567.3MAdded · 0.2% → 0.5%+1,648,606 shares
- Norfolk Southn Corp~$527.1MAdded · 0.1% → 0.4%+1,825,612 shares
- Mcdonalds Corp~$516.1MAdded · 0.1% → 0.3%+1,688,635 shares
- AT&T~$515.4MAdded · 0.1% → 0.4%+20,749,641 shares
- Motorola Solutions Inc~$470.5MAdded · 0.0% → 0.3%+1,227,493 shares
Largest sells
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Invesco Qqq TrPUT~$3.75BSold out · 2.1% → 0.0%−6,240,000 underlying
- Micron~$1.62BCut · 0.9% → 0.5%−5,689,697 shares
- Broadcom~$973.8MCut · 1.1% → 0.5%−2,813,709 shares
- MicronPUT~$871.2MCut · 0.5% → 0.3%−3,052,500 underlying
- Vanguard Scottsdale Fds~$859.8MCut · 0.5% → 0.0%−10,265,969 shares
- Western Digital~$676.0MCut · 0.7% → 0.5%−3,923,998 shares
- Meta~$583.9MCut · 0.8% → 0.4%−884,584 shares
- Tjx Cos Inc New~$560.6MCut · 0.4% → 0.1%−3,649,629 shares
- Regeneron Pharmaceuticals~$545.0MCut · 0.3% → 0.1%−706,118 shares
- Salesforce~$506.5MCut · 0.4% → 0.1%−1,912,021 shares
Holdings
As of Dec 31, 2025. Changes are in shares against Sep 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NvidiaCOM · shares −8.7% · price −0.0% | 2.4% | $4.35B | −$1.9M | ||||||||
| SPDR S&P 500 ETF TrTR UNIT · shares +64% · price +2.4% | 2.0% | $3.71B | +$52.4M | ||||||||
| MicrosoftCOM · shares −7.5% · price −6.6% | 1.8% | $3.32B | −$235.8M | ||||||||
| PalantirCL A · shares +5.7% · price −2.6% | 0.95% | $1.74B | −$43.2M | ||||||||
| AMDCOM · shares +1,917% · price +32.4% | 0.84% | $1.53B | +$18.5M | ||||||||
| AppleCOM · shares −6.4% · price +6.8% | 0.81% | $1.48B | +$93.8M | ||||||||
| AmazonCOM · shares +87% · price +5.1% | 0.77% | $1.40B | +$36.5M | ||||||||
| Texas InstrumentsCOM · shares +93% · price −5.6% | 0.71% | $1.30B | −$39.7M | ||||||||
| AlphabetCAP STK CL A · shares +22% · price +28.8% | 0.67% | $1.22B | +$222.6M | ||||||||
| Booking Holdings IncCOM · shares +66% · price −0.8% | 0.64% | $1.17B | −$5.8M | ||||||||
| TeslaPUTCOM · shares −11% | 0.64% | $1.16B | — | ||||||||
| NetflixCOM · shares −1.3% · price +17.3% | 0.60% | $1.09B | +$160.3M | ||||||||
| Boston Scientific CorpCOM · shares +26% · price −2.3% | 0.59% | $1.07B | −$20.3M | ||||||||
| TeslaCOM · shares +69% · price +1.1% | 0.57% | $1.04B | +$6.9M | ||||||||
| General Mtrs CoCOM · shares +29% · price +33.4% | 0.56% | $1.02B | +$197.0M | ||||||||
| Sofi Technologies IncCOM · shares +11% · price −0.9% | 0.56% | $1.01B | −$8.4M | ||||||||
| BroadcomCOM · shares −49% · price +4.9% | 0.55% | $995.3M | +$46.6M | ||||||||
| Western DigitalCOM · shares −41% · price +43.5% | 0.54% | $982.2M | +$297.7M | ||||||||
| MicronCOM · shares −63% · price +70.6% | 0.52% | $954.0M | +$394.7M | ||||||||
| TSMCSPONSORED ADS · shares +76% · price +8.8% | 0.49% | $896.9M | +$41.3M | ||||||||
| Home Depot IncCOM · shares +191% · price −15.1% | 0.47% | $864.7M | −$52.8M | ||||||||
| Ishares TrCORE S&P500 ETF · shares New | 0.44% | $804.8M | — | ||||||||
| NvidiaPUTCOM · shares −26% | 0.44% | $802.8M | — | ||||||||
| Costco Whsl Corp NewCOM · shares +98% · price −6.8% | 0.44% | $796.5M | −$29.5M | ||||||||
| Schwab Charles CorpCOM · shares +3.6% · price +4.7% | 0.43% | $793.5M | +$34.0M | ||||||||
| Total · 4,558 positions | 100% | $182.42B | +$2.23B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q3 2025 to Q4 2025: 2,610 stocks held throughout, up $2.23B (+2.6%).
- Micron+$394.7M+71%
- Western Digital+$297.7M+43%
- ServiceNow44:1 split+$222.8M+632%
- Alphabet+$222.6M+29%
- General Mtrs Co+$197.0M+33%
- Iren Limited−$98.2M−20%
- Dupont De Nemours Inc−$106.2M−48%
- Microsoft−$235.8M−7%
- Roblox−$289.6M−42%
- Fiserv Inc−$418.7M−48%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 15 splits read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $210.20B+26% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $166.31B−9% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $182.42B+3% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $177.16B+26% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $141.06B+26% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $112.35B−18% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $136.27B+17% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $116.49B+9% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $106.92B−8% | SEC ↗ |
| Q1 2024 | May 15, 2024 (amended) | $116.85B+2% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 (amended) | $114.44B+19% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $95.78B−2% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $97.90B+5% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $93.41B+3% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $90.48B+8% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $83.73B−2% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $85.30B−20% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $106.83B−11% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $120.60B+9% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 | $110.81B−4% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $115.86B+12% | SEC ↗ |
| Q1 2021 | May 17, 2021 | $103.59B−7% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $111.85B+14% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $97.71B+16% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $83.95B+31% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $64.09B−27% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $87.45B+8% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $81.21B+1% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $80.19B+4% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $77.39B+7% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $72.58B−13% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $83.24B+9% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $76.66B+4% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $73.46B+1% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $72.62B+12% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $65.09B+8% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $60.46B+6% | SEC ↗ |
| Q1 2017 | May 15, 2017 | $56.89B−3% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $58.87B+4% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $56.68B+5% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 | $54.23B−3% | SEC ↗ |
| Q1 2016 | May 16, 2016 | $55.73B | SEC ↗ |