TWO SIGMA SECURITIES LLC's Q3 2025 13F: 710 new positions, 822 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 14, 2025 · 1327 reported positions · accession 0000899140-25-001288
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | ISHARES INC (IEMG) | — | 1.8% | +1.8 pts | +181K sh | new |
| Reduced | ISHARES TR (IWM) | 1.1% | 0.2% | −0.9 pts | −36,645 sh | −90% |
| Reduced | ORACLE CORP (ORCL) | 0.8% | 0.0% | −0.8 pts | −29,369 sh | −98% |
| Increased | ISHARES TR (FXI) | 0.1% | 1.1% | +1.0 pts | +163K sh | +666% |
| New | CME GROUP INC (CME) | — | 0.9% | +0.9 pts | +23,444 sh | new |
| New | FOX CORP (FOXA) | — | 0.9% | +0.9 pts | +94,871 sh | new |
| New | HOME DEPOT INC (HD) | — | 0.9% | +0.9 pts | +14,617 sh | new |
| Exited | VANGUARD INTL EQUITY INDEX F (VWO) | 0.9% | — | −0.9 pts | −142K sh | −100% |
| Exited | ADOBE INC (ADBE) | 0.8% | — | −0.8 pts | −16,630 sh | −100% |
| Reduced | THERMO FISHER SCIENTIFIC INC (TMO) | 0.6% | 0.1% | −0.5 pts | −10,218 sh | −88% |
| Exited | PROGRESSIVE CORP (PGR) | 0.7% | — | −0.7 pts | −21,154 sh | −100% |
| New | ISHARES TR (USHY) | — | 0.7% | +0.7 pts | +121K sh | new |
| Exited | WILLIAMS COS INC (WMB) | 0.7% | — | −0.7 pts | −85,249 sh | −100% |
| Exited | L3HARRIS TECHNOLOGIES INC (LHX) | 0.6% | — | −0.6 pts | −20,497 sh | −100% |
| Reduced | PALANTIR TECHNOLOGIES INC (PLTR) | 0.5% | 0.2% | −0.3 pts | −23,502 sh | −79% |
| Exited | THE CIGNA GROUP (CI) | 0.6% | — | −0.6 pts | −15,410 sh | −100% |
| Increased | ISHARES TR (ACWI) | 0.3% | 1.0% | +0.7 pts | +30,748 sh | +174% |
| Exited | GALLAGHER ARTHUR J & CO (AJG) | 0.6% | — | −0.6 pts | −15,330 sh | −100% |
| Increased | NVIDIA CORPORATION (NVDA) | 0.0% | 0.6% | +0.6 pts | +21,777 sh | +1426% |
| New | PROSHARES TR (SPXU) | — | 0.6% | +0.6 pts | +293K sh | new |
| Exited | NORFOLK SOUTHN CORP (NSC) | 0.6% | — | −0.6 pts | −17,869 sh | −100% |
| New | ISHARES TR (AGG) | — | 0.6% | +0.6 pts | +37,950 sh | new |
| Reduced | AVALONBAY CMNTYS INC (AVB) | 0.6% | 0.1% | −0.5 pts | −19,222 sh | −80% |
| Exited | CINTAS CORP (CTAS) | 0.5% | — | −0.5 pts | −19,723 sh | −100% |
| Exited | GE AEROSPACE (GE) | 0.5% | — | −0.5 pts | −16,882 sh | −100% |
| Exited | WALMART INC (WMT) | 0.5% | — | −0.5 pts | −44,334 sh | −100% |
| Reduced | SPDR SERIES TRUST (BIL) | 0.5% | 0.1% | −0.4 pts | −39,225 sh | −81% |
| New | GRAINGER W W INC (GWW) | — | 0.5% | +0.5 pts | +3,596 sh | new |
| Reduced | PROSHARES TR (TQQQ) | 0.7% | 0.5% | −0.2 pts | −32,794 sh | −51% |
| Increased | COLGATE PALMOLIVE CO (CL) | 0.0% | 0.5% | +0.5 pts | +41,635 sh | +1205% |
| New | DIREXION SHS ETF TR (TZA) | — | 0.5% | +0.5 pts | +400K sh | new |
| Reduced | VANGUARD BD INDEX FDS (BND) | 0.9% | 0.6% | −0.3 pts | −43,793 sh | −43% |
| Exited | EXXON MOBIL CORP (XOM) | 0.5% | — | −0.5 pts | −35,847 sh | −100% |
| Increased | ALPHABET INC (GOOG) | 0.1% | 0.6% | +0.5 pts | +13,264 sh | +534% |
| Exited | SPROUTS FMRS MKT INC (SFM) | 0.5% | — | −0.5 pts | −23,216 sh | −100% |
| New | VANGUARD MUN BD FDS (VTEB) | — | 0.5% | +0.5 pts | +62,668 sh | new |
| Reduced | ISHARES TR (EFA) | 1.1% | 1.0% | −0.2 pts | −33,090 sh | −32% |
| New | AMAZON COM INC (AMZN) | — | 0.4% | +0.4 pts | +13,846 sh | new |
| Reduced | FTAI AVIATION LTD (FTAI) | 0.3% | 0.0% | −0.2 pts | −17,618 sh | −91% |
| Exited | EXLSERVICE HOLDINGS INC (EXLS) | 0.4% | — | −0.4 pts | −79,159 sh | −100% |
| Increased | ISHARES TR (LQD) | 0.7% | 1.3% | +0.6 pts | +25,654 sh | +50% |
| Reduced | SCHWAB STRATEGIC TR (SCHD) | 0.7% | 0.4% | −0.3 pts | −105K sh | −49% |
| Reduced | LENNAR CORP (LEN) | 0.4% | 0.1% | −0.3 pts | −22,564 sh | −78% |
| Reduced | NRG ENERGY INC (NRG) | 0.4% | 0.0% | −0.3 pts | −17,293 sh | −93% |
| Reduced | SELECT SECTOR SPDR TR (XLP) | 0.4% | 0.0% | −0.3 pts | −35,311 sh | −90% |
| New | SELECT SECTOR SPDR TR (XLK) | — | 0.4% | +0.4 pts | +9,549 sh | new |
| Exited | VANGUARD SCOTTSDALE FDS (VCSH) | 0.4% | — | −0.4 pts | −40,461 sh | −100% |
| Reduced | ISHARES TR (IVV) | 0.4% | 0.1% | −0.3 pts | −4,017 sh | −73% |
| Increased | HCA HEALTHCARE INC (HCA) | 0.1% | 0.5% | +0.4 pts | +6,292 sh | +487% |
| Increased | APPLIED MATLS INC (AMAT) | 0.0% | 0.4% | +0.4 pts | +12,688 sh | +739% |
The 50 largest of 2,141 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:
- SMART POWERR CORP (CREG): 168913309 → 168913408, 16,805 → 21,103 shares (share count changed with the identifier; not shown as a trade)
- FGI INDUSTRIES LTD (FGI): G3302D103 → G3302D202, 11,564 → 11,469 shares
- VERU INC (VERU): 92536C103 → 92536C202, 16,228 → 10,000 shares (share count changed with the identifier; not shown as a trade)
- UNITI GROUP LLC (UNIT): 91325V108 → 912932100, 18,087 → 98,298 shares (share count changed with the identifier; not shown as a trade)
- FLY E GROUP INC (FLYE): 343927109 → 343927208, 96,566 → 13,589 shares (share count changed with the identifier; not shown as a trade)
- LESLIES INC (LESL): 527064109 → 527064208, 378K → 11,708 shares (share count changed with the identifier; not shown as a trade)
- DIREXION SHS ETF TR (SPXS): 25460E265 → 25460E190, 51,515 → 9,531 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 10.9% of the equity book
Changes in the top 10 this quarter: IEMG entered · FXI entered · IWB entered · ACWI entered · QQQ entered · CME entered · FOXA entered · IWM left · BND left · VWO left · ORCL left · ADBE left · SCHD left · PGR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES INC (IEMG) | 0.0% | 1.8% | Entered the top 10 |
| 2 | ISHARES TR (LQD) | 0.7% | 1.3% | |
| 3 | ISHARES TR (FXI) | 0.1% | 1.1% | Entered the top 10 |
| 4 | SPDR S&P 500 ETF TR (SPY) | 1.0% | 1.0% | |
| 5 | ISHARES TR (IWB) | 0.5% | 1.0% | Entered the top 10 |
| 6 | ISHARES TR (ACWI) | 0.3% | 1.0% | Entered the top 10 |
| 7 | ISHARES TR (EFA) | 1.1% | 1.0% | |
| 8 | INVESCO QQQ TR (QQQ) | 0.7% | 0.9% | Entered the top 10 |
| 9 | CME GROUP INC (CME) | 0.0% | 0.9% | Entered the top 10 |
| 10 | FOX CORP (FOXA) | 0.0% | 0.9% | Entered the top 10 |
| — | ISHARES TR (IWM) | 1.1% | 0.2% | Left the top 10 |
| — | VANGUARD BD INDEX FDS (BND) | 0.9% | 0.6% | Left the top 10 |
| — | VANGUARD INTL EQUITY INDEX F (VWO) | 0.9% | 0.0% | Left the top 10 |
| — | ORACLE CORP (ORCL) | 0.8% | 0.0% | Left the top 10 |
| — | ADOBE INC (ADBE) | 0.8% | 0.0% | Left the top 10 |
| — | SCHWAB STRATEGIC TR (SCHD) | 0.7% | 0.4% | Left the top 10 |
| — | PROGRESSIVE CORP (PGR) | 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).