13F filer · CIK 1179392 ↗
Two Sigma
You are looking at Q4 2019. See the latest, Q2 2026 →
Reported value
$33.24B
+12% on the quarter before
Positions
3,595
836 new · 632 sold out
Top 10
7.6%
of the value
Est. gain
+$1.04B
on stocks held all quarter
Est. return
+6.9%
on those stocks since Q3 2019
Positions as of Dec 31, 2019, from Two Sigma'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, 16% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2019. Striped tiles are options.
Largest buys
Since Q3 2019, 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.
- SPDR S&P 500 ETF TrPUT~$239.3MAdded · 0.1% → 0.8%+743,600 underlying
- SPDR S&P 500 ETF TrCALL~$227.9MAdded · 0.0% → 0.7%+708,000 underlying
- Exxon Mobil Corp~$162.7MAdded · 0.2% → 0.7%+2,332,259 shares
- Charter Communications Inc N~$155.9MAdded · 0.1% → 0.6%+321,475 shares
- Sherwin Williams Co~$151.8MNew · 0.0% → 0.5%+260,084 shares
- Honeywell Technologies~$141.6MAdded · 0.1% → 0.5%+799,818 shares
- Exelon Corporation~$138.0MAdded · 0.1% → 0.5%+3,026,024 shares
- Merck & Co Inc~$136.4MAdded · 0.4% → 0.8%+1,500,233 shares
- Hp Inc~$131.3MAdded · 0.2% → 0.6%+6,387,258 shares
- Select Sector SPDR Tr~$130.8MAdded · 0.0% → 0.4%+2,023,859 shares
Largest sells
Since Q3 2019, 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.
- SPDR S&P 500 ETF Tr~$201.7MCut · 0.8% → 0.2%−626,525 shares
- Altria Group Inc~$178.8MCut · 0.6% → 0.1%−3,583,104 shares
- Invesco Qqq Tr~$171.9MCut · 0.7% → 0.2%−808,367 shares
- Walmart Inc~$149.2MSold out · 0.5% → 0.0%−1,257,007 shares
- PayPal~$143.7MCut · 0.6% → 0.1%−1,328,845 shares
- Union Pacific Corp~$141.0MCut · 0.5% → 0.1%−780,156 shares
- Unitedhealth Group Inc~$139.7MCut · 0.4% → 0.0%−475,278 shares
- Lam Research~$124.1MCut · 0.5% → 0.2%−424,285 shares
- Sysco Corp~$123.0MCut · 0.5% → 0.1%−1,437,618 shares
- Abbvie Inc~$118.7MCut · 0.6% → 0.3%−1,340,930 shares
Holdings
As of Dec 31, 2019. Changes are in shares against Sep 30, 2019, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Visa Inc.COM CL A · shares +33% · price +9.2% | 0.82% | $272.0M | +$17.3M | ||||||||
| Pfizer IncCOM · shares +72% · price +9.0% | 0.81% | $269.8M | +$13.0M | ||||||||
| Merck & Co IncCOM · shares +104% · price +8.0% | 0.81% | $268.2M | +$9.8M | ||||||||
| SPDR S&P 500 ETF TrPUTTR UNIT · shares +1,024% | 0.79% | $262.7M | — | ||||||||
| Ebay IncCOM · shares +49% · price −7.4% | 0.78% | $258.9M | −$13.8M | ||||||||
| AmazonCOM · shares +11% · price +6.4% | 0.72% | $240.2M | +$13.1M | ||||||||
| SPDR S&P 500 ETF TrCALLTR UNIT · shares +2,023% | 0.72% | $239.1M | — | ||||||||
| Home Depot IncCOM · shares +21% · price −5.9% | 0.71% | $236.4M | −$12.2M | ||||||||
| Exxon Mobil CorpCOM · shares +233% · price −1.2% | 0.70% | $232.6M | −$831,099 | ||||||||
| AutodeskCOM · shares +5.0% · price +24.2% | 0.70% | $231.3M | +$42.9M | ||||||||
| CiscoCOM · shares +53% · price −2.9% | 0.69% | $230.7M | −$4.6M | ||||||||
| Costco Whsl Corp NewCOM · shares +34% · price +2.0% | 0.68% | $227.0M | +$3.3M | ||||||||
| Mcdonalds CorpCOM · shares +15% · price −8.0% | 0.66% | $218.4M | −$16.4M | ||||||||
| Dollar Gen Corp NewCOM · shares +59% · price −1.9% | 0.65% | $215.1M | −$2.6M | ||||||||
| Restaurant Brands Intl IncCOM · shares +26% · price −10.4% | 0.63% | $209.7M | −$19.2M | ||||||||
| Chevron Corp NewCOM · shares +17% · price +1.6% | 0.63% | $209.7M | +$2.8M | ||||||||
| Charter Communications Inc NCL A · shares +326% · price +17.7% | 0.61% | $203.7M | +$7.2M | ||||||||
| Hp IncCOM · shares +192% · price +8.6% | 0.60% | $199.7M | +$5.4M | ||||||||
| Johnson & JohnsonCOM · shares −14% · price +12.7% | 0.58% | $193.4M | +$21.9M | ||||||||
| Raytheon CoCOM NEW · shares +73% · price +12.0% | 0.57% | $189.0M | +$11.7M | ||||||||
| IntelCOM · shares +65% · price +16.1% | 0.55% | $183.1M | +$15.5M | ||||||||
| Starbucks CorpCOM · shares −5.8% · price −0.6% | 0.55% | $182.6M | −$1.0M | ||||||||
| General Mtrs CoCOM · shares +48% · price −2.3% | 0.53% | $175.1M | −$2.9M | ||||||||
| United Technologies CorpCOM · shares +67% · price +9.7% | 0.53% | $174.8M | +$9.3M | ||||||||
| Comcast Corp NewCL A · shares +132% · price −0.2% | 0.53% | $174.6M | −$183,920 | ||||||||
| Total · 3,595 positions | 100% | $33.24B | +$1.04B |
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 2019 to Q4 2019: 1,487 stocks held throughout, up $1.04B (+6.9%).
- Autodesk+$42.9M+24%
- Applied Materials+$28.4M+22%
- Vertex Pharmaceuticals Inc+$25.4M+29%
- Qualcomm+$23.6M+16%
- Johnson & Johnson+$21.9M+13%
- Home Depot Inc−$12.2M−6%
- Ebay Inc−$13.8M−7%
- Uniqure Nv1:15 split−$14.9M−88%
- Mcdonalds Corp−$16.4M−8%
- Restaurant Brands Intl Inc−$19.2M−10%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 10 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 | $138.12B+11% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $123.93B+75% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $70.90B+6% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $67.17B+19% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $56.47B+21% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $46.79B+2% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $45.85B+0% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $45.63B+4% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $43.90B+3% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $42.61B−2% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $43.54B+17% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $37.17B−7% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $39.87B+14% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $34.99B+10% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $31.85B+8% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $29.43B−3% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $30.30B−11% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $33.88B−28% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $46.81B+5% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 | $44.75B+1% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $44.08B+15% | SEC ↗ |
| Q1 2021 | May 17, 2021 | $38.44B+10% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $34.85B+24% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $28.17B+40% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $20.19B+64% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $12.28B−63% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $33.24B+12% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $29.72B−1% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $29.90B−3% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $30.85B+21% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $25.54B−30% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $36.69B+9% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $33.54B+12% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $30.04B−2% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $30.72B+9% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $28.21B+2% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $27.64B−7% | SEC ↗ |
| Q1 2017 | May 15, 2017 | $29.70B+14% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $26.08B−5% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $27.59B+18% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 | $23.29B+11% | SEC ↗ |
| Q1 2016 | May 16, 2016 | $20.99B | SEC ↗ |