TWO SIGMA SECURITIES LLC's Q1 2025 13F: 851 new positions, 822 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 1385 reported positions · accession 0000899140-25-000693
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | TESLA INC (TSLA) | 2.6% | — | −2.6 pts | −35,295 sh | −100% |
| Reduced | ISHARES TR (USHY) | 2.1% | 0.1% | −2.0 pts | −301K sh | −96% |
| Exited | ISHARES TR (TLT) | 1.5% | — | −1.5 pts | −93,890 sh | −100% |
| Increased | ISHARES TR (IWM) | 0.1% | 1.5% | +1.4 pts | +45,738 sh | +2495% |
| Increased | INVESCO QQQ TR (QQQ) | 0.1% | 1.4% | +1.3 pts | +18,250 sh | +2319% |
| Increased | BOOKING HOLDINGS INC (BKNG) | 0.5% | 1.6% | +1.2 pts | +1,802 sh | +339% |
| Increased | ISHARES TR (AGG) | 0.5% | 1.7% | +1.2 pts | +81,107 sh | +273% |
| New | BEACON ROOFING SUPPLY INC (BECN) | — | 1.0% | +1.0 pts | +52,184 sh | new |
| New | INVESCO EXCH TRADED FD TR II (BKLN) | — | 0.9% | +0.9 pts | +295K sh | new |
| Increased | NVIDIA CORPORATION (NVDA) | 0.3% | 1.1% | +0.8 pts | +55,296 sh | +525% |
| New | VANGUARD TAX-MANAGED FDS (VEA) | — | 0.8% | +0.8 pts | +109K sh | new |
| Exited | ISHARES TR (IEF) | 0.8% | — | −0.8 pts | −49,384 sh | −100% |
| Reduced | ISHARES TR (IVV) | 1.5% | 0.5% | −1.0 pts | −8,551 sh | −60% |
| Increased | DIREXION SHS ETF TR (TZA) | 0.1% | 0.8% | +0.7 pts | +260K sh | +472% |
| Exited | SPDR SER TR (SPYM) | 0.7% | — | −0.7 pts | −52,368 sh | −100% |
| New | SPDR SER TR (XOP) | — | 0.6% | +0.6 pts | +30,290 sh | new |
| Reduced | PROSHARES TR (SDS) | 0.8% | 0.1% | −0.7 pts | −185K sh | −87% |
| New | PROSHARES TR (TQQQ) | — | 0.6% | +0.6 pts | +69,162 sh | new |
| New | VANGUARD INDEX FDS (VOO) | — | 0.6% | +0.6 pts | +7,645 sh | new |
| Exited | ISHARES TR (EEM) | 0.5% | — | −0.5 pts | −71,803 sh | −100% |
| Exited | VISA INC (V) | 0.5% | — | −0.5 pts | −8,886 sh | −100% |
| New | ISHARES TR (QUAL) | — | 0.5% | +0.5 pts | +18,914 sh | new |
| Exited | APPLE INC (AAPL) | 0.5% | — | −0.5 pts | −10,669 sh | −100% |
| Increased | COLGATE PALMOLIVE CO (CL) | 0.0% | 0.5% | +0.5 pts | +33,783 sh | +1382% |
| New | SPDR SER TR (SPSB) | — | 0.5% | +0.5 pts | +103K sh | new |
| Exited | ISHARES TR (USMV) | 0.5% | — | −0.5 pts | −28,988 sh | −100% |
| Exited | SELECT SECTOR SPDR TR (XLI) | 0.5% | — | −0.5 pts | −19,356 sh | −100% |
| Increased | ISHARES TR (IEFA) | 0.3% | 0.7% | +0.4 pts | +39,611 sh | +177% |
| Increased | SSGA ACTIVE ETF TR (SRLN) | 0.2% | 0.6% | +0.4 pts | +72,551 sh | +247% |
| Increased | BERKSHIRE HATHAWAY INC DEL (BRK-B) | 0.1% | 0.6% | +0.5 pts | +5,601 sh | +366% |
| New | SELECT SECTOR SPDR TR (XLRE) | — | 0.5% | +0.5 pts | +70,712 sh | new |
| Increased | SPDR SER TR (SPIB) | 1.4% | 1.6% | +0.3 pts | +88,795 sh | +38% |
| Increased | SELECT SECTOR SPDR TR (XLP) | 0.4% | 0.8% | +0.4 pts | +35,913 sh | +130% |
| Reduced | AMAZON COM INC (AMZN) | 1.0% | 0.3% | −0.7 pts | −15,026 sh | −63% |
| New | VANGUARD INTL EQUITY INDEX F (VWO) | — | 0.4% | +0.4 pts | +63,000 sh | new |
| Exited | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | 0.4% | — | −0.4 pts | −11,963 sh | −100% |
| Exited | JPMORGAN CHASE & CO. (JPM) | 0.4% | — | −0.4 pts | −9,652 sh | −100% |
| Reduced | META PLATFORMS INC (META) | 0.6% | 0.1% | −0.5 pts | −4,660 sh | −79% |
| Reduced | AUTOZONE INC (AZO) | 0.6% | 0.2% | −0.4 pts | −673 sh | −65% |
| Exited | WELLS FARGO CO NEW (WFC) | 0.4% | — | −0.4 pts | −30,720 sh | −100% |
| New | PROSHARES TR (SQQQ) | — | 0.4% | +0.4 pts | +66,684 sh | new |
| Exited | ISHARES TR (IGSB) | 0.4% | — | −0.4 pts | −41,241 sh | −100% |
| New | VANGUARD INTL EQUITY INDEX F (VT) | — | 0.4% | +0.4 pts | +21,219 sh | new |
| Increased | ISHARES TR (SGOV) | 0.0% | 0.4% | +0.4 pts | +24,350 sh | +902% |
| Increased | SELECT SECTOR SPDR TR (XLF) | 0.1% | 0.5% | +0.4 pts | +48,387 sh | +350% |
| Exited | SELECT SECTOR SPDR TR (XLB) | 0.4% | — | −0.4 pts | −24,162 sh | −100% |
| Exited | CADENCE DESIGN SYSTEM INC (CDNS) | 0.4% | — | −0.4 pts | −6,668 sh | −100% |
| Exited | ROSS STORES INC (ROST) | 0.4% | — | −0.4 pts | −12,992 sh | −100% |
| New | CHUBB LIMITED (CB) | — | 0.4% | +0.4 pts | +7,699 sh | new |
| Exited | GEO GROUP INC NEW (GEO) | 0.4% | — | −0.4 pts | −69,668 sh | −100% |
The 50 largest of 2,201 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- FARMMI INC (FAMI): G33277131 → G33277149, 13,781 → 13,529 shares (share count changed with the identifier; not shown as a trade)
- ATLASCLEAR HOLDINGS INC (ATCH): 128745106 → 128745205, 11,530 → 18,129 shares (share count changed with the identifier; not shown as a trade)
- CREATIVE MEDIA & CMNTY TR (CMCT): 125525584 → 125525527, 31,136 → 10,837 shares (share count changed with the identifier; not shown as a trade)
- GLOBALSTAR INC (GSAT): 378973408 → 378973507, 18,781 → 12,611 shares (share count changed with the identifier; not shown as a trade)
- VS TRUST (UVIX): 92891H507 → 92891H606, 101K → 8,888 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 12.6% of the equity book
Changes in the top 10 this quarter: AGG entered · BKNG entered · IWM entered · QQQ entered · NVDA entered · BECN entered · BKLN entered · VEA entered · TSLA left · USHY left · IVV left · TLT left · AMZN left · IEF left · SDS left · SPYM left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES TR (AGG) | 0.5% | 1.7% | Entered the top 10 |
| 2 | BOOKING HOLDINGS INC (BKNG) | 0.5% | 1.6% | Entered the top 10 |
| 3 | SPDR SER TR (SPIB) | 1.4% | 1.6% | |
| 4 | ISHARES TR (IWM) | 0.1% | 1.5% | Entered the top 10 |
| 5 | INVESCO QQQ TR (QQQ) | 0.1% | 1.4% | Entered the top 10 |
| 6 | NVIDIA CORPORATION (NVDA) | 0.3% | 1.1% | Entered the top 10 |
| 7 | J P MORGAN EXCHANGE TRADED F (JPST) | 1.0% | 1.0% | |
| 8 | BEACON ROOFING SUPPLY INC (BECN) | 0.0% | 1.0% | Entered the top 10 |
| 9 | INVESCO EXCH TRADED FD TR II (BKLN) | 0.0% | 0.9% | Entered the top 10 |
| 10 | VANGUARD TAX-MANAGED FDS (VEA) | 0.0% | 0.8% | Entered the top 10 |
| — | TESLA INC (TSLA) | 2.6% | 0.0% | Left the top 10 |
| — | ISHARES TR (USHY) | 2.1% | 0.1% | Left the top 10 |
| — | ISHARES TR (IVV) | 1.5% | 0.5% | Left the top 10 |
| — | ISHARES TR (TLT) | 1.5% | 0.0% | Left the top 10 |
| — | AMAZON COM INC (AMZN) | 1.0% | 0.3% | Left the top 10 |
| — | ISHARES TR (IEF) | 0.8% | 0.0% | Left the top 10 |
| — | PROSHARES TR (SDS) | 0.8% | 0.1% | Left the top 10 |
| — | SPDR SER TR (SPYM) | 0.7% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | APPLOVIN CORP (APP) | Call | 47,100 | 0 | $0 |
| Exited | GOLDMAN SACHS GROUP INC (GS) | Put | 23,300 | 0 | $0 |
| Reduced | BOOKING HOLDINGS INC (BKNG) | Put | 2,500 | 300 | $1.38M |
| Exited | UNITED AIRLS HLDGS INC (UAL) | Put | 89,900 | 0 | $0 |
| Exited | APPLOVIN CORP (APP) | Put | 22,500 | 0 | $0 |
| Exited | SOFI TECHNOLOGIES INC (SOFI) | Put | 452K | 0 | $0 |
| Exited | PALANTIR TECHNOLOGIES INC (PLTR) | Put | 74,300 | 0 | $0 |
| Exited | VISA INC (V) | Put | 14,900 | 0 | $0 |
| Reduced | BOOKING HOLDINGS INC (BKNG) | Call | 1,100 | 200 | $921K |
| Exited | TESLA INC (TSLA) | Put | 11,200 | 0 | $0 |
| Exited | SNOWFLAKE INC (SNOW) | Put | 25,400 | 0 | $0 |
| Exited | BRISTOL-MYERS SQUIBB CO (BMY) | Put | 48,500 | 0 | $0 |
| Exited | SERVICENOW INC (NOW) | Put | 2,500 | 0 | $0 |
| Exited | APOLLO GLOBAL MGMT INC (APO) | Put | 15,400 | 0 | $0 |
| Exited | CARVANA CO (CVNA) | Put | 11,900 | 0 | $0 |
| Exited | BLACKSTONE INC (BX) | Put | 13,000 | 0 | $0 |
| Exited | ROBINHOOD MKTS INC (HOOD) | Put | 57,900 | 0 | $0 |
| Exited | NETFLIX INC (NFLX) | Put | 2,400 | 0 | $0 |
| Exited | PEPSICO INC (PEP) | Call | 13,900 | 0 | $0 |
| Exited | FIRST CTZNS BANCSHARES INC N (FCNCA) | Call | 1,000 | 0 | $0 |
| Exited | ATLASSIAN CORPORATION (TEAM) | Put | 8,600 | 0 | $0 |
| Exited | UPSTART HLDGS INC (UPST) | Put | 32,800 | 0 | $0 |
| Exited | AFFIRM HLDGS INC (AFRM) | Put | 30,800 | 0 | $0 |
| Exited | JPMORGAN CHASE & CO. (JPM) | Put | 7,800 | 0 | $0 |
| Exited | 3M CO (MMM) | Call | 14,400 | 0 | $0 |