David Shaw D.E. Shaw & Co
David Shaw founded D. E. Shaw & Co., a pioneering quantitative investment firm that helped define systematic trading at scale. With a background in computer science, Shaw built teams that applied advanced computation to markets across equities, derivatives, and other assets. The firm remains one of the most important quant platforms in global finance, even as Shaw’s own public role has shifted over time.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$1.9B |
| 2 |
Broadcom
AVGO
|
+$1.07B |
| 3 |
NVIDIA
NVDA
|
+$908M |
| 4 |
Meta Platforms (Facebook)
META
|
+$861M |
| 5 |
Intuitive Surgical
ISRG
|
+$666M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.68B |
| 2 |
Apple
AAPL
|
+$1.31B |
| 3 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$789M |
| 4 |
GE Aerospace
GE
|
+$653M |
| 5 |
Applovin
APP
|
+$634M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.25% |
| 2 | Consumer Discretionary | 7.51% |
| 3 | Financials | 7.11% |
| 4 | Healthcare | 6.95% |
| 5 | Industrials | 6.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
PUT
American Express
AXP
$228B
| $32.2M | 0.02% |
96,800
+31,000
| +47% | +$9.86M |
|
827
SPS Commerce
SPSC
$2.93B
| $32.1M | 0.02% |
308,233
+170,712
| +124% | +$20.3M |
|
828
PUT
GE Vernova
GEV
$251B
| $32M | 0.02% |
52,100
-101,400
| -66% | -$61.4M |
|
829
Pembina Pipeline
PBA
$28.3B
| $32M | 0.02% |
790,619
+115,077
| +17% | +$4.34M |
|
830
CALL
e.l.f. Beauty
ELF
$6.25B
| $31.7M | 0.02% |
239,200
+61,600
| +35% | +$7.6M |
|
831
Expeditors International
EXPD
$24.4B
| $31.7M | 0.02% |
258,439
-46,721
| -15% | -$5.56M |
|
832
Harmonic Inc
HLIT
$1.31B
| $31.5M | 0.02% |
3,095,820
+889,142
| +40% | +$8.38M |
|
833
PUT
Cisco
CSCO
$434B
| $31.3M | 0.02% |
458,000
+226,000
| +97% | +$15.4M |
|
834
Yum China
YUMC
$16.7B
| $31.3M | 0.02% |
730,108
+693,270
| +1,882% | +$31.5M |
|
835
Columbia Sportswear
COLM
$3.08B
| $31.3M | 0.02% |
599,008
+30,983
| +5% | +$1.74M |
|
836
PUT
First Citizens BancShares
FCNCA
$24.7B
| $31.3M | 0.02% |
17,500
+7,600
| +77% | +$15M |
|
837
Thermo Fisher Scientific
TMO
$232B
| $31.3M | 0.02% |
64,456
-1,261,516
| -95% | -$587M |
|
838
Albemarle
ALB
$16.7B
| $31.3M | 0.02% |
385,533
-261,972
| -40% | -$20.2M |
|
839
Sotera Health
SHC
$5.47B
| $31.2M | 0.02% |
1,980,812
-1,119,188
| -36% | -$15.7M |
|
840
Flywire
FLYW
$2.36B
| $31.1M | 0.02% |
2,296,411
-764,211
| -25% | -$9.4M |
|
841
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
| $31.1M | 0.02% |
+382,888
| New | +$30.9M |
|
842
Chemours
CC
$2.32B
| $31M | 0.02% |
1,958,873
+327,715
| +20% | +$4.75M |
|
843
CALL
TeraWulf
WULF
$7.72B
| $31M | 0.02% |
+2,715,000
| New | +$20.7M |
|
844
Virtu Financial
VIRT
$5.85B
| $30.9M | 0.02% |
869,470
+448,411
| +106% | +$18.4M |
|
845
CALL
Joby Aviation
JOBY
$7.11B
| $30.9M | 0.02% |
1,912,200
+1,478,400
| +341% | +$22.5M |
|
846
Insperity
NSP
$1.99B
| $30.8M | 0.02% |
626,880
+416,754
| +198% | +$22.8M |
|
847
CALL
Etsy
ETSY
$7.99B
| $30.8M | 0.02% |
464,200
+282,100
| +155% | +$16.8M |
|
848
Kimberly-Clark
KMB
$37B
| $30.8M | 0.02% |
247,576
-268,659
| -52% | -$34.7M |
|
|
EXE
849
CALL
Expand Energy Corp
EXE
$22.3B
| $30.7M | 0.02% |
289,400
-10,100
| -3% | -$1.01M |
|
850
Becton Dickinson
BDX
$52B
| $30.7M | 0.02% |
164,033
-1,084,170
| -87% | -$201M |
|
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David Shaw's Q3 2025 Portfolio in Review
As of Q3 2025, David Shaw held 5,023 positions worth $177B, up 26% from $141B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
David Shaw deployed $15.2B of net new capital in Q3 2025, opening 714 new positions and adding to 1,743 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 3,319,000 shares worth $370M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $1.68B trimmed.
- David Shaw's largest Q3 2025 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 3,319,000 shares worth $370M.
- David Shaw added most to Microsoft in Q3 2025, an estimated $1.9B increase.
- David Shaw's biggest Q3 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $1.68B.
- David Shaw fully exited Hess in Q3 2025, selling an estimated $527M.
- David Shaw's ten largest holdings make up 13% of its $177B portfolio in Q3 2025.
- David Shaw opened 714 new positions and closed 514 in Q3 2025.
- David Shaw's portfolio value rose 26% quarter-over-quarter to $177B.
Based on D.E. Shaw & Co's 13F filing for Q3 2025, filed 14 Nov 2025.