TWO SIGMA SECURITIES LLC's Q4 2025 13F: 855 new positions, 763 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 17, 2026 · 1421 reported positions · accession 0000899140-26-000234
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | ISHARES TR (HYG) | — | 2.6% | +2.6 pts | +233K sh | new |
| Exited | ISHARES INC (IEMG) | 1.8% | — | −1.8 pts | −181K sh | −100% |
| Increased | MICROSOFT CORP (MSFT) | 0.1% | 1.7% | +1.6 pts | +24,346 sh | +2121% |
| Exited | ISHARES TR (LQD) | 1.3% | — | −1.3 pts | −76,948 sh | −100% |
| Exited | ISHARES TR (FXI) | 1.1% | — | −1.1 pts | −188K sh | −100% |
| Exited | SPDR S&P 500 ETF TR (SPY) | 1.0% | — | −1.0 pts | −10,583 sh | −100% |
| Increased | ISHARES TR (SHY) | 0.2% | 1.1% | +0.9 pts | +83,885 sh | +679% |
| Exited | INVESCO QQQ TR (QQQ) | 0.9% | — | −0.9 pts | −10,708 sh | −100% |
| Increased | ISHARES TR (TLT) | 0.0% | 1.0% | +0.9 pts | +77,127 sh | +2622% |
| Reduced | ISHARES TR (IWB) | 1.0% | 0.1% | −0.9 pts | −17,448 sh | −94% |
| Increased | SPDR SERIES TRUST (BIL) | 0.1% | 1.0% | +0.9 pts | +69,403 sh | +773% |
| Increased | TESLA INC (TSLA) | 0.0% | 0.9% | +0.9 pts | +14,064 sh | +2600% |
| New | VANGUARD SCOTTSDALE FDS (VCSH) | — | 0.9% | +0.9 pts | +78,934 sh | new |
| Reduced | CME GROUP INC (CME) | 0.9% | 0.1% | −0.8 pts | −21,136 sh | −90% |
| Increased | ORACLE CORP (ORCL) | 0.0% | 0.8% | +0.8 pts | +28,990 sh | +3891% |
| Reduced | FOX CORP (FOXA) | 0.9% | 0.2% | −0.7 pts | −76,079 sh | −80% |
| Reduced | ISHARES TR (ACWI) | 1.0% | 0.2% | −0.8 pts | −36,587 sh | −76% |
| Increased | ISHARES TR (IXUS) | 0.2% | 0.8% | +0.6 pts | +55,449 sh | +400% |
| Exited | BANK NEW YORK MELLON CORP (BK) | 0.6% | — | −0.6 pts | −37,511 sh | −100% |
| New | AUTOMATIC DATA PROCESSING IN (ADP) | — | 0.5% | +0.5 pts | +15,515 sh | new |
| Exited | COLGATE PALMOLIVE CO (CL) | 0.5% | — | −0.5 pts | −45,089 sh | −100% |
| Increased | ISHARES TR (IUSB) | 0.2% | 0.7% | +0.5 pts | +81,563 sh | +296% |
| Exited | PULTE GROUP INC (PHM) | 0.5% | — | −0.5 pts | −25,725 sh | −100% |
| Exited | VANGUARD TAX-MANAGED FDS (VEA) | 0.5% | — | −0.5 pts | −56,059 sh | −100% |
| Reduced | APPLIED MATLS INC (AMAT) | 0.4% | 0.0% | −0.4 pts | −13,626 sh | −95% |
| New | ISHARES INC (EMXC) | — | 0.5% | +0.5 pts | +48,058 sh | new |
| Reduced | ISHARES TR (EFA) | 1.0% | 0.4% | −0.5 pts | −36,172 sh | −52% |
| Exited | COSTCO WHSL CORP NEW (COST) | 0.5% | — | −0.5 pts | −3,353 sh | −100% |
| Exited | SPDR SERIES TRUST (KRE) | 0.5% | — | −0.5 pts | −48,709 sh | −100% |
| New | WOODWARD INC (WWD) | — | 0.5% | +0.5 pts | +10,893 sh | new |
| Reduced | ISHARES TR (AGG) | 0.6% | 0.1% | −0.5 pts | −32,509 sh | −86% |
| Increased | ISHARES TR (IJH) | 0.1% | 0.5% | +0.4 pts | +48,214 sh | +530% |
| Reduced | HCA HEALTHCARE INC (HCA) | 0.5% | 0.1% | −0.4 pts | −6,707 sh | −88% |
| New | VERIZON COMMUNICATIONS INC (VZ) | — | 0.4% | +0.4 pts | +76,640 sh | new |
| Reduced | SPROTT ASSET MANAGEMENT LP (PHYS) | 0.4% | 0.0% | −0.4 pts | −91,506 sh | −90% |
| Reduced | CAPITAL ONE FINL CORP (COF) | 0.6% | 0.2% | −0.4 pts | −12,444 sh | −63% |
| New | JPMORGAN CHASE & CO. (JPM) | — | 0.4% | +0.4 pts | +9,202 sh | new |
| New | PROSHARES TR (SQQQ) | — | 0.4% | +0.4 pts | +42,220 sh | new |
| New | ISHARES TR (IEFA) | — | 0.4% | +0.4 pts | +32,234 sh | new |
| New | COCA-COLA EUROPACIFIC PARTNE (CCEP) | — | 0.4% | +0.4 pts | +30,492 sh | new |
| New | NEWMONT CORP (NEM) | — | 0.4% | +0.4 pts | +27,529 sh | new |
| Increased | ROYAL GOLD INC (RGLD) | 0.0% | 0.4% | +0.4 pts | +12,297 sh | +830% |
| New | VERISK ANALYTICS INC (VRSK) | — | 0.4% | +0.4 pts | +12,211 sh | new |
| New | APPLE INC (AAPL) | — | 0.4% | +0.4 pts | +9,997 sh | new |
| Exited | VANGUARD SCOTTSDALE FDS (VGIT) | 0.4% | — | −0.4 pts | −41,790 sh | −100% |
| New | VANGUARD SCOTTSDALE FDS (VCIT) | — | 0.4% | +0.4 pts | +31,873 sh | new |
| Exited | KEYSIGHT TECHNOLOGIES INC (KEYS) | 0.4% | — | −0.4 pts | −14,206 sh | −100% |
| New | HONEYWELL INTL INC (HON) | — | 0.4% | +0.4 pts | +13,398 sh | new |
| Reduced | VANGUARD BD INDEX FDS (BND) | 0.6% | 0.2% | −0.4 pts | −34,774 sh | −60% |
| Exited | JANUS DETROIT STR TR (JAAA) | 0.3% | — | −0.3 pts | −46,689 sh | −100% |
The 50 largest of 2,177 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:
- ETF OPPORTUNITIES TRUST (TSLZ): 26923N827 → 26923N181, 335K → 35,264 shares (share count changed with the identifier; not shown as a trade)
- BANK MONTREAL MEDIUM (GDXD): 06367V600 → 06367V709, 311K → 78,416 shares (share count changed with the identifier; not shown as a trade)
- ETF OPPORTUNITIES TRUST (MSTU): 26923N462 → 26923N173, 134K → 18,048 shares (share count changed with the identifier; not shown as a trade)
- MOOLEC SCIENCE SA (MLECW): L64875112 → G6223S117, 26,724 → 28,324 shares (share count changed with the identifier; not shown as a trade)
- CLEAN ENERGY TECHNOLOGIES IN (CETY): 18452H206 → 18452H305, 11,789 → 17,018 shares (share count changed with the identifier; not shown as a trade)
- J-STAR HLDG CO LTD (YMAT): G81237102 → G81237128, 15,442 → 13,635 shares (share count changed with the identifier; not shown as a trade)
- PROSHARES TR (SPXU): 74349Y845 → 74350P659, 293K → 12,581 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 11.6% of the equity book
Changes in the top 10 this quarter: HYG entered · MSFT entered · SHY entered · BIL entered · TLT entered · TSLA entered · NVDA entered · VCSH entered · IXUS entered · ORCL entered · IEMG left · LQD left · FXI left · SPY left · IWB left · ACWI left · EFA left · QQQ left · CME left · FOXA left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ISHARES TR (HYG) | 0.0% | 2.6% | Entered the top 10 |
| 2 | MICROSOFT CORP (MSFT) | 0.1% | 1.7% | Entered the top 10 |
| 3 | ISHARES TR (SHY) | 0.2% | 1.1% | Entered the top 10 |
| 4 | SPDR SERIES TRUST (BIL) | 0.1% | 1.0% | Entered the top 10 |
| 5 | ISHARES TR (TLT) | 0.0% | 1.0% | Entered the top 10 |
| 6 | TESLA INC (TSLA) | 0.0% | 0.9% | Entered the top 10 |
| 7 | NVIDIA CORPORATION (NVDA) | 0.6% | 0.9% | Entered the top 10 |
| 8 | VANGUARD SCOTTSDALE FDS (VCSH) | 0.0% | 0.9% | Entered the top 10 |
| 9 | ISHARES TR (IXUS) | 0.2% | 0.8% | Entered the top 10 |
| 10 | ORACLE CORP (ORCL) | 0.0% | 0.8% | Entered the top 10 |
| — | ISHARES INC (IEMG) | 1.8% | 0.0% | Left the top 10 |
| — | ISHARES TR (LQD) | 1.3% | 0.0% | Left the top 10 |
| — | ISHARES TR (FXI) | 1.1% | 0.0% | Left the top 10 |
| — | SPDR S&P 500 ETF TR (SPY) | 1.0% | 0.0% | Left the top 10 |
| — | ISHARES TR (IWB) | 1.0% | 0.1% | Left the top 10 |
| — | ISHARES TR (ACWI) | 1.0% | 0.2% | Left the top 10 |
| — | ISHARES TR (EFA) | 1.0% | 0.4% | Left the top 10 |
| — | INVESCO QQQ TR (QQQ) | 0.9% | 0.0% | Left the top 10 |
| — | CME GROUP INC (CME) | 0.9% | 0.1% | Left the top 10 |
| — | FOX CORP (FOXA) | 0.9% | 0.2% | 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).