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← Two Sigma Investments LP, its record

Two Sigma Investments LP and D. E. Shaw & Co.: where the books meet

At Q2 2026, at least 23% of the two 13F books was the same, across 165 stocks both listed, against 20% 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%14%27%Q2 2013: 20%, 163 in bothQ3 2013: 22%, 171 in bothQ4 2013: 21%, 157 in bothQ1 2014: 22%, 168 in both14Q2 2014: 23%, 172 in bothQ3 2014: 23%, 177 in bothQ4 2014: 20%, 156 in bothQ1 2015: 25%, 192 in both15Q2 2015: 24%, 181 in bothQ3 2015: 26%, 196 in bothQ4 2015: 24%, 173 in bothQ1 2016: 26%, 184 in both16Q2 2016: 26%, 179 in bothQ3 2016: 23%, 178 in bothQ4 2016: 21%, 164 in bothQ1 2017: 25%, 196 in both17Q2 2017: 23%, 175 in bothQ3 2017: 22%, 159 in bothQ4 2017: 23%, 185 in bothQ1 2018: 24%, 182 in both18Q2 2018: 24%, 179 in bothQ3 2018: 26%, 193 in bothQ4 2018: 23%, 181 in bothQ1 2019: 25%, 182 in both19Q2 2019: 25%, 179 in bothQ3 2019: 23%, 166 in bothQ4 2019: 22%, 165 in bothQ1 2020: 21%, 150 in both20Q2 2020: 24%, 154 in bothQ3 2020: 22%, 159 in bothQ4 2020: 24%, 146 in bothQ1 2021: 21%, 142 in both21Q2 2021: 20%, 133 in bothQ3 2021: 17%, 124 in bothQ4 2021: 19%, 128 in bothQ1 2022: 19%, 138 in both22Q2 2022: 21%, 157 in bothQ3 2022: 21%, 147 in bothQ4 2022: 18%, 130 in bothQ1 2023: 19%, 144 in both23Q2 2023: 20%, 157 in bothQ3 2023: 20%, 149 in bothQ4 2023: 19%, 131 in bothQ1 2024: 21%, 139 in both24Q2 2024: 21%, 144 in bothQ3 2024: 20%, 135 in bothQ4 2024: 23%, 151 in bothQ1 2025: 24%, 157 in both25Q2 2025: 24%, 167 in bothQ3 2025: 25%, 160 in bothQ4 2025: 21%, 145 in bothQ1 2026: 27%, 167 in both26Q2 2026: 23%, 165 in both
  • Q2 2013: 20%, 163 in both
  • Q3 2013: 22%, 171 in both
  • Q4 2013: 21%, 157 in both
  • Q1 2014: 22%, 168 in both
  • Q2 2014: 23%, 172 in both
  • Q3 2014: 23%, 177 in both
  • Q4 2014: 20%, 156 in both
  • Q1 2015: 25%, 192 in both
  • Q2 2015: 24%, 181 in both
  • Q3 2015: 26%, 196 in both
  • Q4 2015: 24%, 173 in both
  • Q1 2016: 26%, 184 in both
  • Q2 2016: 26%, 179 in both
  • Q3 2016: 23%, 178 in both
  • Q4 2016: 21%, 164 in both
  • Q1 2017: 25%, 196 in both
  • Q2 2017: 23%, 175 in both
  • Q3 2017: 22%, 159 in both
  • Q4 2017: 23%, 185 in both
  • Q1 2018: 24%, 182 in both
  • Q2 2018: 24%, 179 in both
  • Q3 2018: 26%, 193 in both
  • Q4 2018: 23%, 181 in both
  • Q1 2019: 25%, 182 in both
  • Q2 2019: 25%, 179 in both
  • Q3 2019: 23%, 166 in both
  • Q4 2019: 22%, 165 in both
  • Q1 2020: 21%, 150 in both
  • Q2 2020: 24%, 154 in both
  • Q3 2020: 22%, 159 in both
  • Q4 2020: 24%, 146 in both
  • Q1 2021: 21%, 142 in both
  • Q2 2021: 20%, 133 in both
  • Q3 2021: 17%, 124 in both
  • Q4 2021: 19%, 128 in both
  • Q1 2022: 19%, 138 in both
  • Q2 2022: 21%, 157 in both
  • Q3 2022: 21%, 147 in both
  • Q4 2022: 18%, 130 in both
  • Q1 2023: 19%, 144 in both
  • Q2 2023: 20%, 157 in both
  • Q3 2023: 20%, 149 in both
  • Q4 2023: 19%, 131 in both
  • Q1 2024: 21%, 139 in both
  • Q2 2024: 21%, 144 in both
  • Q3 2024: 20%, 135 in both
  • Q4 2024: 23%, 151 in both
  • Q1 2025: 24%, 157 in both
  • Q2 2025: 24%, 167 in both
  • Q3 2025: 25%, 160 in both
  • Q4 2025: 21%, 145 in both
  • Q1 2026: 27%, 167 in both
  • Q2 2026: 23%, 165 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.

StockTwo Sigma Investments LPD. E. Shaw & Co.
Amazon Com Inc(AMZN)1.0%Trimmed1.2%Added
Nvidia Corp(NVDA)0.9%Trimmed1.9%Added
Tesla MTRS Inc(TSLA)0.9%Trimmed0.9%Trimmed
Apple Inc(AAPL)0.9%Trimmed0.8%Trimmed
Advanced Micro Devices Inc(AMD)0.6%Added0.9%Trimmed
Alphabet Inc(GOOGL)0.6%Trimmed1.3%Added
Boston Scientific Corp(BSX)0.6%Added0.5%Added
Microsoft Corp(MSFT)0.5%Added0.6%Trimmed
Mastercard Inc(MA)0.7%Added0.5%Added
Berkshire Hathaway Inc Del(BRK-B)0.8%Added0.5%Added
Bloom Energy Corp(BE)0.4%Trimmed0.6%Trimmed
Micron Technology Inc(MU)0.4%Trimmed0.4%Trimmed
SanDisk Corp(SNDK)0.4%Trimmed0.6%Trimmed
Costco WHSL Corp New(COST)0.7%Added0.4%Trimmed
Citigroup Inc(C)0.6%Added0.4%Added
General MTRS Co(GM)0.3%Added0.6%Added
Wells Fargo & Co New(WFC)0.4%Added0.3%Added
Facebook Inc(META)0.3%Trimmed0.9%Added
Intuit(INTU)0.4%New0.3%Added
Schwab Charles Corp New(SCHW)0.6%Added0.3%Added

and 145 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.

  • Nvidia Corp(NVDA)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
  • Alphabet Inc(GOOGL)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
  • Amazon Com Inc(AMZN)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
  • Facebook Inc(META)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
  • Advanced Micro Devices Inc(AMD)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • Microsoft Corp(MSFT)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • Intel Corp(INTC)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • Costco WHSL Corp New(COST)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • Visa Inc(V)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
  • Lockheed Martin Corp(LMT)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • Intuitive Surgical Inc(ISRG)Two Sigma Investments LP added; D. E. Shaw & Co. trimmed
  • TJX Cos Inc New(TJX)Two Sigma Investments LP trimmed; D. E. Shaw & Co. added
Two Sigma Investments LP: the recordD. E. Shaw & Co.: the record

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