13F filer · CIK 1179392 ↗
Two Sigma
You are looking at Q1 2023. See the latest, Q2 2026 →
Reported value
$34.99B
+9.8% on the quarter before
Positions
2,921
615 new · 461 sold out
Top 10
7.4%
of the value
Est. gain
+$499.1M
on stocks held all quarter
Est. return
+2.7%
on those stocks since Q4 2022
Positions as of Mar 31, 2023, 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 Q4 2022. Striped tiles are options.
Largest buys
Since Q4 2022, 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.
- Ford Mtr Co Del~$265.5MNew · 0.0% → 0.8%+21,070,307 shares
- Netflix~$245.9MNew · 0.0% → 0.7%+711,667 shares
- Walmart Inc~$240.2MAdded · 0.0% → 0.7%+1,629,353 shares
- Danaher Corporation~$207.8MAdded · 0.2% → 0.7%+824,290 shares
- Conocophillips~$203.9MAdded · 0.1% → 0.7%+2,054,974 shares
- Honeywell Technologies~$199.4MAdded · 0.1% → 0.7%+1,043,184 shares
- Roblox~$198.4MAdded · 0.0% → 0.6%+4,410,338 shares
- Elevance Health Inc~$187.2MAdded · 0.1% → 0.6%+407,021 shares
- MercadoLibre~$164.2MNew · 0.0% → 0.5%+124,575 shares
- The Cigna Group~$161.6MAdded · 0.0% → 0.5%+632,347 shares
Largest sells
Since Q4 2022, 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~$371.0MCut · 0.8% → 0.0%−3,785,534 shares
- Salesforce~$272.6MCut · 0.6% → 0.0%−1,364,268 shares
- Alphabet~$263.3MCut · 0.8% → 0.1%−2,537,941 shares
- Airbnb~$260.9MCut · 0.6% → 0.1%−2,097,386 shares
- Adobe~$234.3MCut · 0.6% → 0.0%−607,881 shares
- Invesco Qqq Tr~$216.8MCut · 0.9% → 0.4%−675,685 shares
- Palo Alto Networks~$208.9MCut · 0.5% → 0.0%−1,045,745 shares
- Amerisourcebergen Corp~$185.7MSold out · 0.6% → 0.0%−1,120,819 shares
- TSMC~$178.9MCut · 0.5% → 0.0%−1,923,213 shares
- Medtronic Plc~$159.9MCut · 0.7% → 0.2%−1,983,389 shares
Holdings
As of Mar 31, 2023. Changes are in shares against Dec 31, 2022, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Palo Alto NetworksNOTE 0.750% 7/0 · shares +37% · price +41.8% | 0.84% | $293.3M | — | ||||||||
| Ford Mtr Co DelCOM · shares New | 0.76% | $265.5M | — | ||||||||
| Danaher CorporationCOM · shares +406% · price −5.0% | 0.74% | $258.9M | −$2.7M | ||||||||
| Visa Inc.COM CL A · shares −6.3% · price +8.5% | 0.74% | $258.2M | +$20.3M | ||||||||
| Union Pac CorpCOM · shares +6.8% · price −2.8% | 0.73% | $255.0M | −$6.9M | ||||||||
| Mcdonalds CorpCOM · shares −1.2% · price +6.1% | 0.73% | $253.9M | +$14.6M | ||||||||
| Walmart IncCOM · shares +2,492% · price +4.0% | 0.71% | $249.9M | +$370,051 | ||||||||
| PayPalCOM · shares −3.3% · price +6.6% | 0.70% | $246.6M | +$15.3M | ||||||||
| NetflixCOM · shares New | 0.70% | $245.9M | — | ||||||||
| Csx CorpCOM · shares +22% · price −3.4% | 0.70% | $244.5M | −$7.0M | ||||||||
| Pg&E CorpUNIT 08/16/2023 · shares −1.4% · price −1.3% | 0.69% | $243.1M | −$3.3M | ||||||||
| Cvs Health CorpCOM · shares +141% · price −20.3% | 0.69% | $240.9M | −$25.4M | ||||||||
| Honeywell TechnologiesCOM · shares +506% · price −10.8% | 0.68% | $238.7M | −$4.8M | ||||||||
| ZoomCL A · shares +0.6% · price +9.0% | 0.66% | $231.0M | +$19.0M | ||||||||
| ConocophillipsCOM · shares +795% · price −15.9% | 0.66% | $229.5M | −$4.9M | ||||||||
| Amgen IncCOM · shares +1.9% · price −8.0% | 0.65% | $228.6M | −$19.4M | ||||||||
| Elevance Health IncCOM · shares +491% · price −10.4% | 0.64% | $225.3M | −$4.4M | ||||||||
| SnapCL A · shares +6.3% · price +25.3% | 0.63% | $221.8M | +$42.1M | ||||||||
| Pepsico IncCOM · shares +46% · price +0.9% | 0.61% | $211.8M | +$1.3M | ||||||||
| Colgate Palmolive CoCOM · shares +133% · price −4.6% | 0.60% | $209.5M | −$4.4M | ||||||||
| RobloxCL A · shares +2,570% · price +58.0% | 0.59% | $206.1M | +$2.8M | ||||||||
| Gilead Sciences IncCOM · shares −20% · price −3.4% | 0.56% | $196.6M | −$6.8M | ||||||||
| Cheniere Energy IncCOM NEW · shares +28% · price +5.1% | 0.55% | $193.9M | +$7.3M | ||||||||
| Emerson ElectricCOM · shares +56% · price −9.3% | 0.55% | $192.9M | −$12.7M | ||||||||
| Johnson Ctls Intl PlcSHS · shares +58% · price −5.9% | 0.55% | $192.0M | −$7.6M | ||||||||
| Total · 2,921 positions | 100% | $34.99B | +$499.1M |
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 Q4 2022 to Q1 2023: 2,230 stocks held throughout, up $499.1M (+2.7%).
- Snap+$42.1M+25%
- Carnival Corp+$33.2M+26%
- DoorDash+$32.6M+30%
- Roku Inc+$29.2M+62%
- Amazon+$28.1M+23%
- Johnson & Johnson−$24.2M−12%
- Cvs Health Corp−$25.4M−20%
- Baxter Intl Inc−$35.8M−20%
- Coinbase1:61 split−$43.5M−97%
- Tesla1:44 split−$178.0M−96%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 16 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 ↗ |