13F filer · CIK 1179392 ↗
Two Sigma
You are looking at Q4 2021. See the latest, Q2 2026 →
Reported value
$46.81B
+4.6% on the quarter before
Positions
4,189
1,009 new · 995 sold out
Top 10
5.7%
of the value
Est. gain
+$849.3M
on stocks held all quarter
Est. return
+3.6%
on those stocks since Q3 2021
Positions as of Dec 31, 2021, 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, 13% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2021. Striped tiles are options.
Largest buys
Since Q3 2021, 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.
- Pfizer Inc~$271.1MNew · 0.0% → 0.6%+4,590,528 shares
- AMD~$266.6MAdded · 0.0% → 0.6%+1,852,443 shares
- Cloudflare~$234.3MNew · 0.0% → 0.5%+1,781,661 shares
- Thermo Fisher Scientific Inc~$226.3MNew · 0.0% → 0.5%+339,085 shares
- Nvidia~$225.0MAdded · 0.0% → 0.5%+764,993 shares
- Regeneron Pharmaceuticals~$201.0MAdded · 0.0% → 0.4%+318,349 shares
- Dexcom Inc~$187.8MAdded · 0.0% → 0.4%+349,749 shares
- Blackstone Inc~$179.8MAdded · 0.0% → 0.4%+1,389,517 shares
- Conocophillips~$176.8MAdded · 0.0% → 0.4%+2,449,013 shares
- Mcdonalds Corp~$173.8MNew · 0.0% → 0.4%+648,331 shares
Largest sells
Since Q3 2021, 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.
- Cisco~$222.9MSold out · 0.5% → 0.0%−4,094,473 shares
- Lam Research~$219.2MSold out · 0.5% → 0.0%−385,114 shares
- Mondelez Intl Inc~$198.6MCut · 0.5% → 0.1%−2,995,280 shares
- Qualcomm~$193.0MCut · 0.5% → 0.3%−1,055,646 shares
- Analog Devices~$187.6MSold out · 0.4% → 0.0%−1,119,917 shares
- Philip Morris Intl Inc~$185.2MCut · 0.5% → 0.1%−1,949,503 shares
- Verizon Communications Inc~$178.5MSold out · 0.4% → 0.0%−3,304,473 shares
- Vertex Pharmaceuticals Inc~$174.1MSold out · 0.4% → 0.0%−959,684 shares
- AT&T~$172.7MSold out · 0.4% → 0.0%−6,392,543 shares
- Altria Group Inc~$169.9MSold out · 0.4% → 0.0%−3,733,040 shares
Holdings
As of Dec 31, 2021. Changes are in shares against Sep 30, 2021, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPDR S&P 500 ETF TrTR UNIT · shares +64% · price +10.7% | 0.63% | $294.9M | +$17.4M | ||||||||
| AMDCOM · shares +3,483% · price +39.8% | 0.59% | $274.2M | +$2.2M | ||||||||
| Coca Cola CoCOM · shares +10% · price +12.8% | 0.59% | $274.1M | +$28.3M | ||||||||
| Pfizer IncCOM · shares New | 0.58% | $271.1M | — | ||||||||
| MicrosoftCOM · shares −7.9% · price +19.3% | 0.57% | $266.7M | +$43.1M | ||||||||
| Abbvie IncCOM · shares +122% · price +25.5% | 0.56% | $260.8M | +$23.9M | ||||||||
| Johnson & JohnsonCOM · shares +85% · price +5.9% | 0.55% | $258.0M | +$7.8M | ||||||||
| Canadian Pac Ry LtdCOM · shares +67% · price +10.6% | 0.55% | $255.4M | +$14.6M | ||||||||
| AirbnbCOM CL A · shares +31% · price −0.8% | 0.54% | $253.6M | −$1.5M | ||||||||
| S&P Global IncCOM · shares +3.9% · price +11.1% | 0.54% | $252.9M | +$24.3M | ||||||||
| Visa Inc.COM CL A · shares +8.0% · price −2.7% | 0.53% | $247.1M | −$6.4M | ||||||||
| Charter Communications Inc NCL A · shares +20% · price −10.4% | 0.53% | $246.3M | −$23.9M | ||||||||
| Citigroup IncCOM NEW · shares +23% · price −13.9% | 0.52% | $245.0M | −$32.3M | ||||||||
| Bristol-Myers Squibb CoCOM · shares +4.7% · price +5.4% | 0.52% | $241.9M | +$11.8M | ||||||||
| NvidiaCOM · shares +1,369% · price +42.0% | 0.52% | $241.4M | +$4.9M | ||||||||
| Honeywell TechnologiesCOM · shares +15% · price −1.8% | 0.51% | $240.6M | −$3.8M | ||||||||
| DatadogCL A COM · shares +28% · price +26.0% | 0.51% | $239.0M | +$38.6M | ||||||||
| CloudflareCL A COM · shares New | 0.50% | $234.3M | — | ||||||||
| Atlassian Corp PlcCL A · shares +12% · price −2.6% | 0.50% | $232.3M | −$5.5M | ||||||||
| Caterpillar IncCOM · shares −8.9% · price +7.7% | 0.49% | $231.4M | +$16.5M | ||||||||
| Invesco Qqq TrUNIT SER 1 · shares −2.4% · price +11.1% | 0.49% | $230.2M | +$23.1M | ||||||||
| Lockheed Martin CorpCOM · shares +247% · price +3.0% | 0.48% | $226.9M | +$1.9M | ||||||||
| Thermo Fisher Scientific IncCOM · shares New | 0.48% | $226.3M | — | ||||||||
| Amgen IncCOM · shares −6.8% · price +5.8% | 0.48% | $223.2M | +$12.2M | ||||||||
| Merck & Co IncCOM · shares −3.1% · price +2.0% | 0.48% | $222.8M | +$4.4M | ||||||||
| Total · 4,189 positions | 100% | $46.81B | +$849.3M |
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 2021 to Q4 2021: 1,812 stocks held throughout, up $849.3M (+3.6%).
- Avis Budget Group+$70.3M+78%
- Draftkings Inc3:1 split+$67.6M+71%
- Stoneco Ltd7:1 split+$63.0M+240%
- Futu Hldgs Ltd21:1 split+$50.0M+899%
- Lightspeed Commerce Inc14:1 split+$43.6M+487%
- Twitter Inc−$48.8M−28%
- Microchip Technology−$52.5M−43%
- PayPal−$60.8M−28%
- Intuitive Surgical−$90.6M−64%
- Upstart−$114.9M−52%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 42 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 ↗ |