TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

TWO SIGMA INVESTMENTS LLC is a Multi-Strategy Hedge Fund based in New York, NY led by Scott David Hoffman, reporting $110.28B in AUM as of Q3 2025 with SPY as the largest holding (1% allocation).

CEOScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Top Holding: SPY at 1.1%
Last Reported: Q3 2025

Address100 Avenue Of The Americas, 16th Floor, New York, NY, 10013-1689, United States

Top Holdings

Largest long holdings in TWO SIGMA INVESTMENTS LLC's portfolio (6.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%	-$90.8M Sold	— 1.0M shares	Q3 2013 Held for 12y 2m
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%	+$481.9M Bought	— 10.8M shares	Q1 2023 Held for 2y 8m
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%	+$346.6M Bought	— 6.2M shares	Q2 2025 Held for 5 months
4 Vanguard Growth VUG	ETF ETF	$415.4M	0.67%	-$84.8M Sold	— 866.1K shares	Q2 2020 Held for 5y 5m
5 Invesco QQQ Trust QQQ	ETF ETF	$404.6M	0.65%	-$399.8M Sold	— 673.9K shares	≤ Q2 2013 Held for 12y 5m+
6 iShares MSCI USA Quality Factor QUAL	ETF ETF	$375.7M	0.61%	+$187.6M Bought	— 1.9M shares	Q2 2023 Held for 2y 5m
7 iShares Core S&P 500 ETF IVV	ETF ETF	$335.1M	0.54%	-$42.8M Sold	— 500.7K shares	Q3 2016 Held for 9y 2m
8 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$290.1M	0.47%	-$74.9M Sold	0.07% 1.6M shares	Q2 2021 Held for 4y 5m
9 Micron Technology MU	Semiconductors Technology	$285.3M	0.46%	+$197.5M Bought	0.15% 1.7M shares	Q3 2022 Held for 3y 2m
10 iShares Russell 1000 Growth IWF	ETF ETF	$274.9M	0.44%	-$247.0M Sold	— 586.9K shares	Q2 2019 Held for 6y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in TWO SIGMA INVESTMENTS LLC's latest filing

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Market Value

$62.0B

Prior: $53.1B

Q/Q Change

+16.71%

+$8.9B

Net Flows % of MV

+3.45%

Turnover Ratio

33.87%

New Purchases

208 stocks

$844.1M

Added To

1,431 stocks

+$19.9B

Sold Out Of

387 stocks

$1.6B

Reduced Holdings

1,074 stocks

-$17.0B

Increased Positions

Position	Shares Δ	Change
1 Figma FIG	New	0 → 1.5M +$77.9M
2 ServiceTitan, Inc. TTAN	New	0 → 583.5K +$58.8M
3 BLSH Bullish BLSH	New	0 → 567.7K +$36.1M
4 Fidelity Enhanced Large Cap Core FELC	New	0 → 949.3K +$35.4M
5 Ralliant Corporation RAL	New	0 → 798.8K +$34.9M

Decreased Positions

Position	Shares Δ	Change
1 Juniper Networks JNPR	Sold	2.6M → 0 −$104.1M
2 VOOG Vanguard S&P 500 Growth VOOG	Sold	200.2K → 0 −$79.4M
3 VanEck Gold Miners GDX	Sold	1.5M → 0 −$77.0M
4 iShares U.S. Home Construction ITB	Sold	783.7K → 0 −$73.0M
5 iShares Core S&P U.S. Growth IUSG	Sold	376.7K → 0 −$56.7M

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Analytics

Portfolio insights and performance metrics for TWO SIGMA INVESTMENTS LLC

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Sector Allocation

Technology

16.70%

Financial Services

15.40%

ETF

13.10%

Industrials

11.00%

Healthcare

9.70%

Consumer Cyclical

8.00%

Consumer Defensive

5.40%

Communication Services

4.00%

Energy

3.20%

Basic Materials

2.90%

Utilities

2.40%

Real Estate

1.90%

Market Cap Distribution

Mega Cap (> $200B)

9.85%

Large Cap ($10B - $200B)

48.01%

Mid Cap ($2B - $10B)

16.98%

Small Cap ($300M - $2B)

6.91%

Micro Cap ($50M - $300M)

0.85%

Nano Cap (< $50M)

0.67%

N/A (ETF or Unknown)

16.71%

Portfolio Concentration

Top 10 Holdings %

6.67%

Top 20 Holdings %

10.97%

Top 50 Holdings %

22.77%

Top 100 Holdings %

39.44%