Key Takeaways
- • Two Sigma Investments, LP reported a 13F portfolio value of $71.08 billion as of December 31, 2025, representing growth from $67.18 billion in the prior reporting period—a $3.90 billion increase.
- • The firm maintains 4,041 total holdings across its portfolio, with top positions concentrated in broad-based ETFs: Select Sector SPDR Consumer Discretionary (XLY) at 0.57% of portfolio, Select Sector SPDR Technology (XLK) at 0.57%, and Vanguard Growth ETF (VUG) at 0.56%.
- • Two Sigma Investments is managed by co-founders John Overdeck and David Siegel, leveraging the firm's core competency in quantitative analysis, data science, and algorithmic investment strategies across institutional and high-frequency trading operations.
- • The portfolio reflects a diversified approach weighted toward equity index exposure through sector and growth-focused ETFs, indicating a systematic allocation strategy consistent with Two Sigma's quantitative methodology.
Summary
Two Sigma Investments, LP, the quantitatively-driven hedge fund founded by John Overdeck and David Siegel, disclosed portfolio holdings totaling $71.08 billion in its most recent 13F filing as of December 31, 2025. This figure represents a material increase from the prior reporting period's $67.18 billion, reflecting a net gain of approximately $3.90 billion or 5.8% growth in reported assets under management within the tracked portfolio.
The fund's equity holdings span 4,041 distinct positions, demonstrating the broad diversification characteristic of Two Sigma's systematic investment approach. Rather than concentrating capital in individual stock positions, the portfolio reflects meaningful allocation to large-cap equity sector and growth-focused exchange-traded funds, with the Select Sector SPDR Consumer Discretionary ETF (XLY) and Select Sector SPDR Technology ETF (XLK) each representing 0.57% of the total portfolio, alongside the Vanguard Growth ETF (VUG) at 0.56%.
Two Sigma's investment philosophy centers on rigorous quantitative analysis, data science capabilities, and algorithmic strategy execution. The firm operates multiple specialized divisions addressing distinct investor needs: institutional asset management, private investment vehicles, venture capital focused on data science-oriented companies, and a high-frequency broker-dealer operation. The December 2025 portfolio composition—emphasizing broad-based index and sector exposure rather than concentrated equity bets—reflects the firm's systematic approach to portfolio construction and risk management.
The $3.90 billion quarterly increase in reported portfolio value suggests either net capital inflows, positive performance on existing positions, or strategic rebalancing. Given the nature of Two Sigma's multi-strategy operations, which encompass quantitative equity, alternative strategies, and systematic trading, the growth trajectory aligns with institutional demand for sophisticated, data-driven asset management solutions in a complex market environment.
The fund's equity holdings span 4,041 distinct positions, demonstrating the broad diversification characteristic of Two Sigma's systematic investment approach. Rather than concentrating capital in individual stock positions, the portfolio reflects meaningful allocation to large-cap equity sector and growth-focused exchange-traded funds, with the Select Sector SPDR Consumer Discretionary ETF (XLY) and Select Sector SPDR Technology ETF (XLK) each representing 0.57% of the total portfolio, alongside the Vanguard Growth ETF (VUG) at 0.56%.
Two Sigma's investment philosophy centers on rigorous quantitative analysis, data science capabilities, and algorithmic strategy execution. The firm operates multiple specialized divisions addressing distinct investor needs: institutional asset management, private investment vehicles, venture capital focused on data science-oriented companies, and a high-frequency broker-dealer operation. The December 2025 portfolio composition—emphasizing broad-based index and sector exposure rather than concentrated equity bets—reflects the firm's systematic approach to portfolio construction and risk management.
The $3.90 billion quarterly increase in reported portfolio value suggests either net capital inflows, positive performance on existing positions, or strategic rebalancing. Given the nature of Two Sigma's multi-strategy operations, which encompass quantitative equity, alternative strategies, and systematic trading, the growth trajectory aligns with institutional demand for sophisticated, data-driven asset management solutions in a complex market environment.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.