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← PDT Partners LLC, its record

PDT Partners LLC and Two Sigma Investments LP: where the books meet

At Q2 2026, at least 12% of the two 13F books was the same, across 100 stocks both listed, against 27% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%15%30%Q2 2013: 27%, 200 in bothQ3 2013: 30%, 217 in bothQ4 2013: 13%, 122 in bothQ1 2014: 27%, 200 in both14Q2 2014: 25%, 185 in bothQ3 2014: 29%, 200 in bothQ4 2014: 12%, 106 in bothQ1 2015: 25%, 189 in both15Q2 2015: 25%, 179 in bothQ3 2015: 29%, 193 in bothQ4 2015: 9.1%, 63 in bothQ1 2016: 14%, 104 in both16Q2 2016: 12%, 81 in bothQ3 2016: 13%, 83 in bothQ4 2016: 11%, 89 in bothQ1 2017: 12%, 83 in both17Q2 2017: 14%, 87 in bothQ3 2017: 13%, 87 in bothQ4 2017: 11%, 78 in bothQ1 2018: 12%, 86 in both18Q2 2018: 11%, 76 in bothQ3 2018: 14%, 83 in bothQ4 2018: 11%, 69 in bothQ1 2019: 15%, 80 in both19Q2 2019: 11%, 66 in bothQ3 2019: 12%, 66 in bothQ4 2019: 14%, 106 in bothQ1 2020: 11%, 90 in both20Q2 2020: 12%, 107 in bothQ3 2020: 14%, 117 in bothQ4 2020: 12%, 100 in bothQ1 2021: 12%, 98 in both21Q2 2021: 9.8%, 85 in bothQ3 2021: 12%, 91 in bothQ4 2021: 13%, 97 in bothQ1 2022: 14%, 99 in both22Q2 2022: 12%, 108 in bothQ3 2022: 13%, 115 in bothQ4 2022: 10.0%, 95 in bothQ1 2023: 10%, 88 in both23Q2 2023: 10%, 91 in bothQ3 2023: 12%, 98 in bothQ4 2023: 12%, 98 in bothQ1 2024: 13%, 103 in both24Q2 2024: 16%, 119 in bothQ3 2024: 14%, 112 in bothQ4 2024: 15%, 112 in bothQ1 2025: 14%, 114 in both25Q2 2025: 16%, 114 in bothQ3 2025: 12%, 97 in bothQ4 2025: 11%, 98 in bothQ1 2026: 13%, 104 in both26Q2 2026: 12%, 100 in both
  • Q2 2013: 27%, 200 in both
  • Q3 2013: 30%, 217 in both
  • Q4 2013: 13%, 122 in both
  • Q1 2014: 27%, 200 in both
  • Q2 2014: 25%, 185 in both
  • Q3 2014: 29%, 200 in both
  • Q4 2014: 12%, 106 in both
  • Q1 2015: 25%, 189 in both
  • Q2 2015: 25%, 179 in both
  • Q3 2015: 29%, 193 in both
  • Q4 2015: 9.1%, 63 in both
  • Q1 2016: 14%, 104 in both
  • Q2 2016: 12%, 81 in both
  • Q3 2016: 13%, 83 in both
  • Q4 2016: 11%, 89 in both
  • Q1 2017: 12%, 83 in both
  • Q2 2017: 14%, 87 in both
  • Q3 2017: 13%, 87 in both
  • Q4 2017: 11%, 78 in both
  • Q1 2018: 12%, 86 in both
  • Q2 2018: 11%, 76 in both
  • Q3 2018: 14%, 83 in both
  • Q4 2018: 11%, 69 in both
  • Q1 2019: 15%, 80 in both
  • Q2 2019: 11%, 66 in both
  • Q3 2019: 12%, 66 in both
  • Q4 2019: 14%, 106 in both
  • Q1 2020: 11%, 90 in both
  • Q2 2020: 12%, 107 in both
  • Q3 2020: 14%, 117 in both
  • Q4 2020: 12%, 100 in both
  • Q1 2021: 12%, 98 in both
  • Q2 2021: 9.8%, 85 in both
  • Q3 2021: 12%, 91 in both
  • Q4 2021: 13%, 97 in both
  • Q1 2022: 14%, 99 in both
  • Q2 2022: 12%, 108 in both
  • Q3 2022: 13%, 115 in both
  • Q4 2022: 10.0%, 95 in both
  • Q1 2023: 10%, 88 in both
  • Q2 2023: 10%, 91 in both
  • Q3 2023: 12%, 98 in both
  • Q4 2023: 12%, 98 in both
  • Q1 2024: 13%, 103 in both
  • Q2 2024: 16%, 119 in both
  • Q3 2024: 14%, 112 in both
  • Q4 2024: 15%, 112 in both
  • Q1 2025: 14%, 114 in both
  • Q2 2025: 16%, 114 in both
  • Q3 2025: 12%, 97 in both
  • Q4 2025: 11%, 98 in both
  • Q1 2026: 13%, 104 in both
  • Q2 2026: 12%, 100 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockPDT Partners LLCTwo Sigma Investments LP
Nvidia Corp(NVDA)0.9%Held0.9%Trimmed
Schwab Charles Corp New(SCHW)0.8%New0.6%Added
TJX Cos Inc New(TJX)0.6%Added0.5%Trimmed
Illinois Tool WKS Inc(ITW)0.4%Added0.4%Added
Intuit(INTU)0.6%New0.4%New
Cme Group Inc(CME)0.7%Held0.4%Added
Yandex N V(NBIS)0.8%Trimmed0.3%Trimmed
Ross Stores Inc(ROST)0.3%Added0.4%Trimmed
Raytheon Technologies Corp(RTX)0.3%Trimmed0.4%Added
Hewlett Packard Enterprise C(HPE)0.3%Trimmed0.3%Trimmed
Te Connectivity PLC(TEL)0.3%Trimmed0.3%Added
Seagate Technology Hldngs PL(STX)1.0%New0.2%Added
General MTRS Co(GM)0.2%New0.3%Added
Solstice Advanced Matls Inc(SOLS)0.8%Added0.2%Added
N00985106(AER)0.2%Added0.4%Trimmed
Wayfair Inc(W)0.2%Trimmed0.2%Added
260557103(DOW)0.2%New0.4%Added
451107106(IDA)0.2%New0.2%Added
PBF Energy Inc(PBF)1.1%Held0.2%Added
Heico Corp New(HEI)0.2%Trimmed0.2%Trimmed

and 80 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • JPMorgan Chase & Co(JPM)PDT Partners LLC started; Two Sigma Investments LP trimmed
  • TJX Cos Inc New(TJX)PDT Partners LLC added; Two Sigma Investments LP trimmed
  • Microsoft Corp(MSFT)PDT Partners LLC trimmed; Two Sigma Investments LP added
  • Raytheon Technologies Corp(RTX)PDT Partners LLC trimmed; Two Sigma Investments LP added
  • Ross Stores Inc(ROST)PDT Partners LLC added; Two Sigma Investments LP trimmed
  • Airbnb Inc(ABNB)PDT Partners LLC trimmed; Two Sigma Investments LP added
  • N00985106(AER)PDT Partners LLC added; Two Sigma Investments LP trimmed
  • Te Connectivity PLC(TEL)PDT Partners LLC trimmed; Two Sigma Investments LP added
  • Texas Instrs Inc(TXN)PDT Partners LLC sold out; Two Sigma Investments LP added
  • Cintas Corp(CTAS)PDT Partners LLC sold out; Two Sigma Investments LP added
  • Five Below Inc(FIVE)PDT Partners LLC sold out; Two Sigma Investments LP added
  • G39387108(GFS)PDT Partners LLC trimmed; Two Sigma Investments LP added
PDT Partners LLC: the recordTwo Sigma Investments LP: the record

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