Two Sigma Investments

Quarters on file

Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.

• Q2 2026234 names · $187M in calls, not in the total$10.5B−$419M
• Q1 2026217 names · $134M in calls, not in the total$10.6B+$8.6B
• Q4 2025212 names · $102M in calls, not in the total$5.9B+$1.8B
• Q3 2025209 names · $26.9M in calls, not in the total$6.0B+$99.9M
• Q2 2025193 names · $38.5M in calls, not in the total$6.3B+$458M
• Q1 2025184 names · $23.9M in calls, not in the total$4.8B+$1.4B
• Q4 2024201 names · $11.4M in calls, not in the total$4.0B−$375M
• Q3 2024183 names · $22.8M in calls, not in the total$3.9B+$361M
• Q2 2024170 names · $8.9M in calls, not in the total$3.5B−$277M
• Q1 2024184 names$4.0B−$853M
• Q4 2023191 names · $2.6M in calls, not in the total$4.7B+$614M
• Q3 2023183 names · $6.1M in calls, not in the total$3.1B−$615M
• Q2 2023184 names · $6.6M in calls, not in the total$3.8B+$704M
• Q1 2023171 names · $3.4M in calls, not in the total$2.7B−$601M
• Q4 2022152 names$2.9B+$49.3M
• Q3 2022127 names$3.0B+$411M
• Q2 2022130 names$3.1B+$2.2B
• Q1 2022134 names$3.2B−$349M
• Q4 2021148 names · $294M in calls, not in the total$4.4B+$1.1B
• Q3 2021139 names · $469M in calls, not in the total$3.6B+$939M
• Q2 2021118 names · $506M in calls, not in the total$2.5B−$261M
• Q1 2021119 names · $359M in calls, not in the total$2.5B−$6.0M
• Q4 2020114 names · $290M in calls, not in the total$2.7B−$286M
• Q3 202096 names · $284M in calls, not in the total$2.5B+$983M
• Q2 202088 names · $134M in calls, not in the total$1.3B+$266M
• Q1 202083 names · $178M in calls, not in the total$651M−$1.0B
• Q4 201983 names · $206M in calls, not in the total$1.8B−$195M
• Q3 201982 names · $263M in calls, not in the total$1.8B+$101M
• Q2 201972 names · $80.0M in calls, not in the total$1.8B+$120M
• Q1 201981 names · $88.1M in calls, not in the total$1.5B+$371M
• Q4 201873 names · $62.9M in calls, not in the total$834M−$968M
• Q3 201876 names · $169M in calls, not in the total$2.0B+$7.7M
• Q2 201876 names · $115M in calls, not in the total$1.7B+$259M
• Q1 201866 names · $54.9M in calls, not in the total$1.2B+$93.1M
• Q4 201766 names · $42.8M in calls, not in the total$932M−$84.4M
• Q3 201762 names · $63.6M in calls, not in the total$950M−$19.7M
• Q2 201763 names · $31.4M in calls, not in the total$906M+$90.1M
• Q1 201753 names · $41.3M in calls, not in the total$712M−$7.3M
• Q4 201658 names · $47.1M in calls, not in the total$647M−$348M
• Q3 201662 names · $37.8M in calls, not in the total$1,000M+$296M
• Q2 201659 names · $23.8M in calls, not in the total$642M—

What moved the book

The five software lines with the largest share change this quarter.

• Fiserv, Inc.FISV+$94.7M$51.5M
• MicrosoftMSFT+$89.6M$95.6M
• Automatic Data Processing, Inc.ADP−$66.2M$15.1M
• AdobeADBE−$64.6M$69.9M
• Amdocs LimitedDOX−$44.6M$11.3M

Software held

• Palo Alto NetworksPANW907,581 shares · 14.1% of their software · price +$33.2M$165M−$8.0M
• ServiceNowNOW625,718 shares · 8.8% of their software · price +$21.9M$104M+$24.1M
• MicrosoftMSFT1,047,301 shares · 8.2% of their software · price +$6.0M$95.6MNew · +$89.6M
• GoDaddyGDDY1,329,842 shares · 7.0% of their software · price +$14.8M$81.7M+$3.0M
• AdobeADBE323,501 shares · 6.0% of their software · price +$13.2M$69.9M−$64.6M
• VeevaVEEV762,653 shares · 4.8% of their software · price +$13.5M$55.7MNew · +$42.2M
• Fiserv, Inc.FISV722,216 shares · 4.4% of their software · price −$43.2M$51.5MNew · +$94.7M
• FortinetFTNT845,423 shares · 3.9% of their software · price +$8.4M$45.3M+$8.9M
• TwilioTWLO1,103,789 shares · 3.6% of their software · price +$16.1M$42.1MNew · +$26.0M
• OktaOKTA967,057 shares · 3.3% of their software · price +$13.8M$38.5M+$18.9M
• RingCentralRNG586,199 shares · 3.2% of their software · price +$8.9M$37.2M+$14.6M
• WorkdayWDAY258,284 shares · 2.8% of their software · price +$6.6M$32.8M−$16.9M
• WEX Inc.WEX202,270 shares · 2.7% of their software · price +$3.1M$31.7M+$28.1M
• SalesforceCRM263,925 shares · 2.6% of their software · price +$3.7M$30.7M+$23.2M
• PegasystemsPEGA412,986 shares · 2.1% of their software · price +$5.6M$25.0M+$19.2M
• CadenceCDNS615,496 shares · 1.9% of their software · price −$3.1M$22.6M+$24.6M
• AutodeskADSK168,586 shares · 1.8% of their software · price +$3.5M$21.2MNew · +$17.7M
• Sabre CorporationSABR920,343 shares · 1.7% of their software · price +$874K$19.7M+$10.4M
• BlackLineBL404,209 shares · 1.4% of their software · price +$2.6M$15.8M+$6.5M
• Automatic Data Processing, Inc.ADP132,936 shares · 1.3% of their software$15.1M−$66.2M
• InterDigital, Inc.IDCC178,097 shares · 1.1% of their software$13.1M−$1.2M
• Five9FIVN417,615 shares · 1.1% of their software · price +$2.1M$12.4M+$2.5M
• Amdocs LimitedDOX168,939 shares · 1.0% of their software$11.3M−$44.6M
• VeriskVRSK107,711 shares · 1.0% of their software · price +$862K$11.2M−$4.1M
• NutanixNTNX224,882 shares · 0.9% of their software · price +$3.1M$11.0MNew · +$7.9M
• PTCPTC133,021 shares · 0.9% of their software · price +$2.3M$10.4M+$2.3M
• Strategy IncMSTR76,159 shares · 0.8% of their software$9.8MFlat
• SPS CommerceSPSC142,826 shares · 0.8% of their software · price +$2.2M$9.2MFlat
• 8x8EGHT347,865 shares · 0.6% of their software$6.5M—
• Paychex, Inc.PAYX95,030 shares · 0.5% of their software · price −$617K$5.9MNew · +$6.5M
• Rapid7RPD211,289 shares · 0.5% of their software · price +$1.5M$5.4MFlat
• WixWIX64,002 shares · 0.4% of their software · price +$1.4M$5.1MNew · +$3.7M
• PaylocityPCTY94,880 shares · 0.4% of their software$4.9M+$2.2M
• CommvaultCVLT79,858 shares · 0.4% of their software$4.6M−$646K
• HubSpotHUBS37,529 shares · 0.3% of their software · price +$747K$4.1M+$1.7M
• DescartesDSGX126,206 shares · 0.3% of their software$3.6MFlat
• Alarm.com Holdings, Inc.ALRM90,710 shares · 0.3% of their software$3.4M+$708K
• Radware Ltd.RDWR153,512 shares · 0.3% of their software$3.3MFlat
• ProgressPRGS80,702 shares · 0.3% of their software$3.1MNew · +$3.4M
• VaronisVRNS48,313 shares · 0.2% of their software · price +$577K$2.9M−$13.0M
• Bandwidth Inc.BAND77,532 shares · 0.2% of their software · price +$740K$2.5M+$516K
• NICENICE26,347 shares · 0.2% of their software$2.5MNew · +$2.4M
• PDF Solutions, Inc.PDFS203,364 shares · 0.2% of their software · price −$822K$2.4M+$1.5M
• Q2QTWO48,319 shares · 0.2% of their software$2.2M+$1.0M
• Immersion CorporationIMMR184,073 shares · 0.2% of their software · price +$900K$2.2M+$1.2M
• AkamaiAKAM24,674 shares · 0.1% of their software$1.8M−$9.1M
• Xunlei LimitedXNET168,389 shares · 0.1% of their software · price −$892K$1.7M+$1.8M
• VeriSign, Inc.VRSN14,070 shares · 0.1% of their software$1.7MFlat
• The Trade DeskTTD33,173 shares · 0.1% of their software$1.6MNew · +$1.5M
• QualysQLYS16,842 shares · 0.1% of their software$1.2M−$6.8M
• AppianAPPN47,469 shares · 0.1% of their software$1.2MNew · +$1.5M
• ACI WorldwideACIW50,068 shares · 0.1% of their software$1.2MNew · +$1.1M
• BoxBOX57,770 shares · 0.1% of their software$1.2M−$9.2M
• AppFolioAPPF25,841 shares · 0.1% of their software$1.1M−$2.1M
• ePlus inc.PLUS12,335 shares · 0.1% of their software$958KNew · +$928K
• Digital TurbineAPPS403,850 shares · 0.1% of their software$812KNew · +$723K
• YextYEXT62,954 shares · 0.1% of their software$796KFlat
• PagSeguro Digital Ltd.PAGS14,386 shares · 0.0% of their software$551KNew · +$551K
• Donnelley Financial Solutions, Inc.DFIN26,100 shares · 0.0% of their software$448KFlat
• Ribbon Communications Inc.RBBN79,951 shares · 0.0% of their software$408KFlat
• DHI Group, Inc.DHX201,242 shares · 0.0% of their software$322KFlat
• Calix, Inc.CALX39,803 shares · 0.0% of their software$273K−$1.1M
• NetScout Systems, Inc.NTCT9,091 shares · 0.0% of their software$240KNew · Flat
• Allot Ltd.ALLT34,264 shares · 0.0% of their software$187KFlat
• A10 Networks, Inc.ATEN28,300 shares · 0.0% of their software$165K−$3.1M
• Agilysys, Inc.AGYS12,043 shares · 0.0% of their software$144K−$697K