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 Carter Mayberry Lyons, reporting $110.28B in AUM as of Q2 2025 with QQQ as the largest holding (1% allocation).

CEOCarter Mayberry Lyons

Portfolio Value: $53.1B
Positions: 2,996
Top Holding: QQQ at 1.39%
Last Reported: Q2 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 (8.1% of total portfolio)

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Holding	Sector	Market Value	Weight	Ownership	Owned Since
1 Invesco QQQ Trust QQQ	ETF ETF	$739.1M	1.39%	— 1.3M shares	≤ Q2 2013 Held for 12y 4m+
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$715.2M	1.35%	— 1.2M shares	Q3 2013 Held for 12 years
3 iShares Russell 1000 Growth IWF	ETF ETF	$473.0M	0.89%	— 1.1M shares	Q2 2019 Held for 6y 4m
4 Vanguard Growth VUG	ETF ETF	$457.2M	0.86%	— 1.0M shares	Q2 2020 Held for 5y 4m
5 Technology Select Sector SPDR Fund XLK	ETF ETF	$366.8M	0.69%	— 1.4M shares	Q2 2018 Held for 7y 4m
6 iShares Core S&P 500 ETF IVV	ETF ETF	$350.6M	0.66%	— 564.7K shares	Q3 2016 Held for 9 years
7 iShares Expanded Tech-Software Sector IGV	ETF ETF	$345.4M	0.65%	— 3.2M shares	Q2 2025 Held for 4 months
8 Nvidia NVDA	Semiconductors Technology	$299.2M	0.56%	0.01% 1.9M shares	Q1 2016 Held for 9y 6m
9 Amazon AMZN	Specialty Retail Consumer Cyclical	$290.7M	0.55%	0.01% 1.3M shares	Q3 2013 Held for 12 years
10 Netflix NFLX	Entertainment Communication Services	$288.2M	0.54%	0.05% 215.2K shares	Q3 2013 Held for 12 years

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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

$53.1B

Prior: $44.0B

Q/Q Change

+20.69%

+$9.1B

Net Flows % of MV

+3.8%

Turnover Ratio

31.38%

New Purchases

178 stocks

$731.1M

Added To

1,175 stocks

+$16.9B

Sold Out Of

509 stocks

$1.7B

Reduced Holdings

1,258 stocks

-$13.9B

Increased Positions

Position	Shares Δ	Change
1 Tempus AI, Inc. TEM	New	0 → 1.2M +$75.7M
2 Circle Internet Group, Inc. CRCL	New	0 → 269.6K +$48.9M
3 Vanguard Financials VFH	New	0 → 346.0K +$44.0M
4 WisdomTree U.S. Quality Dividend Growth Fund DGRW	New	0 → 286.1K +$24.0M
5 PVAL Putnam Focused Large Cap Value PVAL	New	0 → 465.4K +$18.7M

Decreased Positions

Position	Shares Δ	Change
1 Utilities Select Sector SPDR Fund XLU	Sold	1.7M → 0 −$134.3M
2 Materials Select Sector Fund XLB	Sold	1.0M → 0 −$90.0M
3 Fidelity MSCI Information Technology Index ETF FTEC	Sold	423.9K → 0 −$68.4M
4 Targa Resources TRGP	Sold	263.4K → 0 −$52.8M
5 SPDR S&P Oil & Gas Exploration & Production ETF XOP	Sold	371.1K → 0 −$48.9M

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Analytics

Portfolio insights and performance metrics for TWO SIGMA INVESTMENTS LLC

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Sector Allocation

Technology

18.20%

ETF

15.40%

Financial Services

13.40%

Healthcare

12.80%

Industrials

8.90%

Consumer Cyclical

8.70%

Communication Services

3.60%

Basic Materials

3.50%

Consumer Defensive

3.50%

Energy

2.70%

Utilities

2.40%

Real Estate

1.50%

Market Cap Distribution

Mega Cap (> $200B)

9.79%

Large Cap ($10B - $200B)

47.21%

Mid Cap ($2B - $10B)

16.11%

Small Cap ($300M - $2B)

6.33%

Micro Cap ($50M - $300M)

0.66%

Nano Cap (< $50M)

1.05%

N/A (ETF or Unknown)

18.85%

Portfolio Concentration

Top 10 Holdings %

8.15%

Top 20 Holdings %

13.24%

Top 50 Holdings %

26.73%

Top 100 Holdings %

43.51%

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