TWO SIGMA INVESTMENTS, LP

CIK 0001179392 · Q2 2026

13F Equity AUM

$137.4B

+10.9% QoQ

Positions

3,872

+240 QoQ

AUM Rank

#83

Top 0.9%

Skill Alpha (FF)

+2.2%/yr^ns

No Clear Edge

Rank #1,299 · Top 16%

vs S&P +2.1%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 5.0%Top 10: 8.6%Top 20: 14.6%

WDC 3 11/15/281.1%

AMZN1.0%

NVDA1.0%

AAPL0.9%

TSLA0.9%

BRK/B0.9%

JPM0.7%

ASML0.7%

AMD0.7%

COST0.7%

Others (3862)91.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology22.6%

Financial Services20.0%

Healthcare12.1%

Industrials11.0%

Consumer Cyclical9.9%

Energy4.3%

Basic Materials4.1%

Consumer Defensive3.5%

Other12.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 3872Median: 0.00%Avg: 0.03%

0–0.5%

3846(82.2%)

0.5–1%

23(14.7%)

1–3%

3(3.1%)

3–5%

0(0.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 3,872vs 20 funds

0%Low

3,872

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New642Increased1618Decreased1506Exited420

New Positions

XLE0.2%

+5.8M

SPACE EXPLORATION TE…0.2%

+1.8M

ICE0.2%

+2.0M

FTV0.1%

+3.2M

SUPER MICRO COMPUTER…0.1%

+3.2M

ALPHABET INC0.1%

+3.1M

NXPI0.1%

+343K

AVLV0.1%

+838K

ASCENDIS PHARMA A/S0.1%

+307K

GAMESTOP CORP0.1%

+88.0M

Increased

TMDX 1.5 06/01/280.1%

+37.7M(+127%)

NET 0 08/15/260.1%

+25.8M(+106%)

FLR 1.125 08/15/290.0%

+18.8M(+94%)

SPR 3.25 11/01/280.1%

+16.0M(+44%)

ZD 3.625 03/01/280.0%

+15.0M(+150%)

RIVN 3.625 10/15/300.1%

+14.5M(+26%)

DOW0.4%

+13.5M(+295%)

AAL0.4%

+13.3M(+94%)

ON 0.5 03/01/290.0%

+13.0M(+74%)

JBLU 2.5 09/01/290.0%

+12.5M(+60%)

Decreased

PCG 4.25 12/01/270.0%

-37,500,000(-46%)

MSTR 0.625 09/15/280.0%

-22,500,000(-77%)

NEE 3 03/01/270.0%

-19,500,000(-78%)

BBD0.1%

-16,126,256(-34%)

F0.0%

-14,703,919(-95%)

CHEESECAKE FACTORY I…0.0%

-12,900,000(-76%)

STX 3.5 06/01/280.0%

-11,678,000(-69%)

GGB0.1%

-10,456,483(-40%)

QS0.0%

-9,561,847(-76%)

BAC 0.6 05/25/27 MTN0.0%

-9,500,000(-50%)

Exited

-1,738,296

-27,027,000

-1,295,026

-2,731,500

-984,203

-79,980,000

-56,997,000

-219,775

-18,550,000

-53,132,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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