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JO

John Overdeck Two Sigma Investments

AUM $138B
1-Year Est. Return 41.87%
 

John Overdeck is a co-founder of Two Sigma Investments, one of the world’s leading quantitative and technology-driven investment firms. Two Sigma applies data science, machine learning, and large-scale computing to markets across asset classes. Overdeck’s firm is a central reference point in discussions of modern systematic investing.

This Fund
S&P 500
This Quarter Est. Return
+3.47%
1 Year Est. Return
+41.87%
3 Year Est. Return
+122.61%
5 Year Est. Return
+129.48%
10 Year Est. Return
+649.67%
AUM
$70.9B
AUM Growth
+$3.72B
Cap. Flow
+$541M
Cap. Flow %
0.76%
Top 10 Hldgs %
4.9%
Holding
4,545
New
899
Increased
1,598
Reduced
1,287
Closed
504

Top Buys

Rank Stock Value
1
XLK icon
State Street Technology Select Sector SPDR ETF
XLK
+$395M
2
VNQ icon
Vanguard Real Estate ETF
VNQ
+$321M
3
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$318M
4
NOW icon
ServiceNow
NOW
+$272M
5
SCHH icon
Schwab US REIT ETF
SCHH
+$248M

Top Sells

Rank Stock Value
1
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$547M
2
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$447M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$377M
4
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$299M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$269M

Sector Composition

Rank Sector Weight
1 Technology 15.53%
2 Financials 13%
3 Industrials 11.22%
4 Healthcare 10.29%
5 Consumer Discretionary 9.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARGX icon
51
argenx
ARGX
$65B
$217M 0.31%
258,556
-35,604
-12% -$30.5M
BRK.B icon
52
Berkshire Hathaway Class B
BRK.B
$1.06T
$217M 0.31%
432,154
+53,058
+14% +$26.4M
REGN icon
53
Regeneron Pharmaceuticals
REGN
$85.9B
$217M 0.31%
281,151
-188,752
-40% -$128M
MRNA icon
54
Moderna
MRNA
$57.9B
$217M 0.31%
7,342,096
-187,885
-2% -$5.1M
ON icon
55
ON Semiconductor
ON
$28.9B
$216M 0.31%
3,993,366
+243,615
+6% +$12.5M
PGR icon
56
Progressive
PGR
$127B
$215M 0.3%
946,277
+17,728
+2% +$4M
LRCX icon
57
Lam Research
LRCX
$393B
$215M 0.3%
1,257,457
-269,615
-18% -$41.9M
XBI icon
58
State Street SPDR S&P Biotech ETF
XBI
$11.2B
$215M 0.3%
1,762,600
+1,754,300
+21,136% +$201M
MSCI icon
59
MSCI
MSCI
$41B
$214M 0.3%
372,616
+188,574
+102% +$106M
ANET icon
60
Arista Networks
ANET
$238B
$214M 0.3%
1,630,792
+299,267
+22% +$41.2M
AMT icon
61
American Tower
AMT
$81.9B
$214M 0.3%
1,216,424
+411,663
+51% +$74.9M
KMB icon
62
Kimberly-Clark
KMB
$36.4B
$214M 0.3%
2,116,203
+2,050,786
+3,135% +$224M
UNP icon
63
Union Pacific
UNP
$183B
$211M 0.3%
912,198
-116,878
-11% -$26.7M
IONS icon
64
Ionis Pharmaceuticals
IONS
$9.93B
$210M 0.3%
2,658,646
+1,082,703
+69% +$81.5M
NU icon
65
Nu Holdings
NU
$70.4B
$210M 0.3%
12,542,124
-2,882,748
-19% -$46.3M
PG icon
66
Procter & Gamble
PG
$336B
$210M 0.3%
1,463,914
+66,185
+5% +$9.76M
EQIX icon
67
Equinix
EQIX
$105B
$209M 0.29%
272,870
+223,345
+451% +$175M
AME icon
68
Ametek
AME
$54.9B
$207M 0.29%
1,010,471
+332,715
+49% +$64.7M
IYW icon
69
iShares US Technology ETF
IYW
$24.9B
$207M 0.29%
1,038,224
+475,300
+84% +$95.1M
VRSK icon
70
Verisk Analytics
VRSK
$24.4B
$207M 0.29%
924,687
+279,018
+43% +$63M
GDDY icon
71
GoDaddy
GDDY
$12.3B
$206M 0.29%
1,663,619
+32,519
+2% +$4.21M
W icon
72
Wayfair
W
$13.9B
$204M 0.29%
2,036,019
+125,997
+7% +$12.1M
V icon
73
Visa
V
$693B
$201M 0.28%
573,459
-1,575
-0.3% -$537K
AZN icon
74
AstraZeneca
AZN
$257B
$200M 0.28%
1,090,238
+831,390
+321% +$146M
C icon
75
Citigroup
C
$221B
$200M 0.28%
1,717,333
+692,330
+68% +$71.9M
1 2
3
4 5

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John Overdeck's Q4 2025 Portfolio in Review

As of Q4 2025, John Overdeck held 4,545 positions worth $70.9B, up 5.5% from $67.2B the previous quarter. Its ten largest holdings account for 4.9% of the portfolio.

John Overdeck's Q4 2025 filing shows 899 new, 1,598 increased, 1,287 reduced and 504 closed positions. Its largest new stake was Vanguard Real Estate ETF: 3,573,400 shares worth $316M. The largest sale was State Street Financial Select Sector SPDR ETF, an estimated $547M.

By sector, the portfolio is most concentrated in Technology at 16% of assets, down from 16% a quarter earlier, followed by Financials and Industrials.

  • John Overdeck's largest Q4 2025 buy was Vanguard Real Estate ETF: 3,573,400 shares worth $316M.
  • John Overdeck added most to State Street Technology Select Sector SPDR ETF in Q4 2025, an estimated $395M increase.
  • John Overdeck's biggest Q4 2025 reduction was State Street Financial Select Sector SPDR ETF, cutting an estimated $547M.
  • John Overdeck fully exited State Street SPDR Dow Jones Industrial Average ETF Trust in Q4 2025, selling an estimated $240M.
  • John Overdeck's ten largest holdings make up 4.9% of its $70.9B portfolio in Q4 2025.
  • John Overdeck opened 899 new positions and closed 504 in Q4 2025.
  • John Overdeck's portfolio value rose 5.5% quarter-over-quarter to $70.9B.

Based on Two Sigma Investments's 13F filing for Q4 2025, filed 17 Feb 2026.