TWO SIGMA SECURITIES LLC
Q1 2025 Form 13-F

NEW YORK, NEW YORK
CIK 0001450144 · Institutional investment manager
$659.4M Reported Value Total
Reported value
$659.4M
Quarter over quarter
-2.7%
Holdings
1,385
Top-10 concentration
12.5%

Key People

Named on the latest Form 13-F filing — not necessarily an owner
Carl Vallese
Chief Compliance Officer

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Q1 2025 13F record

Q1 2025 13F filing summary

Q1 2025 Form 13F portfolio summary
Period of report March 31, 2025
Filed May 15, 2025
Form 13F-HR
Reported value $659.4M
Positions 1,385
Change in reported value -12.6%
New positions 856
Exited positions 827
Position turnover 76.1%
Top-10 concentration 12.5%

13F filings by quarter

Form 13F filings by quarter
Quarter Positions Value
Q2 2026 13F
Filed Aug 14, 2026
1,668 $1.2B
Q1 2026 13F
Filed May 15, 2026
1,599 $860.9M
Q4 2025 13F
Filed Feb 17, 2026
1,421 $727.8M
Q3 2025 13F
Filed Nov 14, 2025
1,327 $678.0M
Q2 2025 13F
Filed Aug 14, 2025
1,437 $810.7M
Q1 2025 13F
Filed May 15, 2025
1,385 $659.4M
Q4 2024 13F
Filed Feb 14, 2025
1,356 $754.5M
Q3 2024 13F
Filed Nov 14, 2024
1,520 $5.9B
Q2 2024 13F
Filed Aug 14, 2024
1,485 $8.3B
Q1 2024 13F
Filed May 15, 2024
1,381 $10.4B
Q4 2023 13F
Filed Feb 14, 2024
1,398 $10.3B
Q3 2023 13F
Filed Nov 14, 2023
1,322 $9.4B
Q2 2023 13F
Filed Aug 14, 2023
1,203 $6.7B
Q1 2023 13F
Filed May 15, 2023
1,279 $5.0B
Q4 2022 13F
Filed Feb 14, 2023
1,309 $3.3B
Q3 2022 13F
Filed Nov 14, 2022
1,314 $3.3B
Q2 2022 13F
Filed Aug 15, 2022
1,188 $2.8B
Q1 2022 13F
Filed May 16, 2022
1,076 $2.8B
Q4 2021 13F
Filed Feb 14, 2022
1,006 $2.3B
Q3 2021 13F
Filed Nov 15, 2021
818 $3.4B

27 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2025

Largest Q1 2025 13F positions by reported value
# Holding Reported value % of portfolio
1 AGG ISHARES TR $11.0M 1.66%
2 BKNG BOOKING HOLDINGS INC $10.8M 1.63%
3 SPIB SPDR SER TR $10.7M 1.62%
4 IWM ISHARES TR $9.5M 1.44%
5 QQQ INVESCO QQQ TR $8.9M 1.35%
6 NVDA NVIDIA CORPORATION $7.1M 1.08%
7 JPST J P MORGAN EXCHANGE TRADED F $6.7M 1.01%
8 BECN BEACON ROOFING SUPPLY INC $6.5M 0.98%
9 BKLN INVESCO EXCH TRADED FD TR II $6.1M 0.93%
10 VEA VANGUARD TAX-MANAGED FDS $5.5M 0.84%
11 TZA DIREXION SHS ETF TR $5.4M 0.81%
12 XLP SELECT SECTOR SPDR TR $5.2M 0.79%
13 IEFA ISHARES TR $4.7M 0.71%
14 SRLN SSGA ACTIVE ETF TR $4.2M 0.64%
15 XOP SPDR SER TR $4.0M 0.6%
16 TQQQ PROSHARES TR $4.0M 0.6%
17 VOO VANGUARD INDEX FDS $3.9M 0.6%
18 BRK-B BERKSHIRE HATHAWAY INC DEL $3.8M 0.58%
19 CL COLGATE PALMOLIVE CO $3.4M 0.51%
20 SPY SPDR S&P 500 ETF TR $3.3M 0.51%

Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.

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