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John Overdeck Two Sigma Investments
AUM
$138B
Turnover
29.02%
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
+11.36%
1 Year Est. Return
+41.87%
3 Year Est. Return
+122.61%
5 Year Est. Return
+129.48%
10 Year Est. Return
+649.66%
AUM
$67.2B
AUM Growth
+$10.7B
(+19%)
Cap. Flow
+$3.59B
Cap. Flow % of AUM
Cap. Flow %
5.34%
Top 10 Holdings %
Top 10 Hldgs %
6.15%
Holding
4,027
New
877
Increased
1,461
Reduced
1,084
Closed
399
Avg Time Held
Equity + Options
1.5
years
Top 10 Avg Time Held
Equity + Options
0.7
years
Top 20 Avg Time Held
Equity + Options
0.5
years
Avg Time Held Equity only
1.6
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$474M |
| 2 |
State Street Consumer Staples Select Sector SPDR ETF
XLP
|
+$357M |
| 3 |
Accenture
ACN
|
+$246M |
| 4 |
Advanced Micro Devices
AMD
|
+$235M |
| 5 |
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
|
+$231M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$381M |
| 2 |
State Street Technology Select Sector SPDR ETF
XLK
|
+$375M |
| 3 |
iShares Expanded Tech-Software Sector ETF
IGV
|
+$348M |
| 4 |
Thermo Fisher Scientific
TMO
|
+$292M |
| 5 |
Snowflake
SNOW
|
+$258M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 20.17% |
| 2 | Technology | 16.18% |
| 3 | Financials | 15.54% |
| 4 | Industrials | 10.5% |
| 5 | Healthcare | 9.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
State Street SPDR S&P 500 ETF Trust
SPY
$816B
| $680M | 1.01% |
1,021,373
-136,225
| -12% | -$87.3M |
2016 Q1
38 quarters
|
|
|
2
State Street Financial Select Sector SPDR ETF
XLF
$52.5B
| $583M | 0.87% |
10,814,100
+8,945,030
| +479% | +$474M |
2025 Q1
2 quarters
|
|
|
3
State Street Consumer Staples Select Sector SPDR ETF
XLP
$15B
| $490M | 0.73% |
6,247,272
+4,423,172
| +242% | +$357M |
2025 Q2
1 quarter
|
|
4
Vanguard Morningstar Growth ETF
VUG
$226B
| $415M | 0.62% |
5,196,600
-1,060,800
| -17% | -$81.1M |
2023 Q2
9 quarters
|
|
|
5
Invesco QQQ Trust
QQQ
$479B
| $405M | 0.6% |
673,858
-665,875
| -50% | -$381M |
2019 Q1
26 quarters
|
|
6
iShares MSCI USA Quality Factor ETF
QUAL
$48.5B
| $376M | 0.56% |
1,931,800
+964,500
| +100% | +$181M |
2023 Q2
9 quarters
|
|
7
iShares Core S&P 500 ETF
IVV
$882B
| $335M | 0.5% |
500,700
-64,000
| -11% | -$41.2M |
2023 Q2
9 quarters
|
|
8
Palantir
PLTR
$476B
| $290M | 0.43% |
1,590,488
-410,438
| -21% | -$66.5M |
2022 Q2
13 quarters
|
|
9
Micron Technology
MU
$985B
| $285M | 0.42% |
1,705,132
+1,180,317
| +225% | +$151M |
2023 Q1
10 quarters
|
|
10
iShares Russell 1000 Growth ETF
IWF
$124B
| $275M | 0.41% |
2,347,428
-2,108,972
| -47% | -$235M |
2023 Q2
9 quarters
|
|
11
Lockheed Martin
LMT
$135B
| $274M | 0.41% |
549,482
+113,378
| +26% | +$51.4M |
2016 Q1
38 quarters
|
|
12
Alnylam Pharmaceuticals
ALNY
$30.4B
| $272M | 0.4% |
595,926
+252,621
| +74% | +$103M |
2024 Q1
6 quarters
|
|
13
Nebius Group N.V.
NBIS
$43.6B
| $271M | 0.4% |
2,409,665
+2,336,669
| +3,201% | +$162M |
2025 Q2
1 quarter
|
|
14
NVIDIA
NVDA
$5.16T
| $270M | 0.4% |
1,448,107
-445,487
| -24% | -$77.7M |
2023 Q1
10 quarters
|
|
15
Microsoft
MSFT
$3.9T
| $267M | 0.4% |
515,209
-14,382
| -3% | -$7.34M |
2023 Q2
9 quarters
|
|
16
Amazon
AMZN
$2.72T
| $266M | 0.4% |
1,213,105
-111,936
| -8% | -$25.3M |
2021 Q3
16 quarters
|
|
17
Cloudflare
NET
$111B
| $265M | 0.4% |
1,236,964
-126,250
| -9% | -$25.8M |
2021 Q4
15 quarters
|
|
18
Regeneron Pharmaceuticals
REGN
$84.6B
| $264M | 0.39% |
469,903
-29,925
| -6% | -$16.9M |
2024 Q3
4 quarters
|
|
19
iShares MSCI USA Min Vol Factor ETF
USMV
$24.2B
| $260M | 0.39% |
2,733,400
+565,200
| +26% | +$52.9M |
2025 Q1
2 quarters
|
|
20
Bank of America
BAC
$358B
| $256M | 0.38% |
4,959,245
-72,628
| -1% | -$3.54M |
2024 Q3
4 quarters
|
|
21
Meta Platforms (Facebook)
META
$1.68T
| $254M | 0.38% |
345,324
+66,470
| +24% | +$49.5M |
2023 Q2
9 quarters
|
|
22
JPMorgan Chase
JPM
$891B
| $253M | 0.38% |
800,703
+606,025
| +311% | +$180M |
2023 Q1
10 quarters
|
|
23
GE Vernova
GEV
$220B
| $252M | 0.38% |
410,503
-48,551
| -11% | -$29.4M |
2025 Q1
2 quarters
|
|
24
Tesla
TSLA
$1.51T
| $249M | 0.37% |
560,985
+107,425
| +24% | +$37.3M |
2024 Q4
3 quarters
|
|
25
State Street SPDR S&P Regional Banking ETF
KRE
$3.52B
| $248M | 0.37% |
3,919,400
+626,836
| +19% | +$39.5M |
2022 Q4
11 quarters
|
|
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John Overdeck's Q3 2025 Portfolio in Review
As of Q3 2025, John Overdeck held 4,027 positions worth $67.2B, up 19% from $56.5B the previous quarter. Its ten largest holdings account for 6.2% of the portfolio.
John Overdeck deployed $3.59B of net new capital in Q3 2025, opening 877 new positions and adding to 1,461 existing holdings. Its largest new stake was Berkshire Hathaway Class B: 379,096 shares worth $191M.
By sector, the portfolio is most concentrated in Miscellaneous at 20% of assets, down from 21% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was Invesco QQQ Trust, an estimated $381M trimmed.
- John Overdeck's largest Q3 2025 buy was Berkshire Hathaway Class B: 379,096 shares worth $191M.
- John Overdeck added most to State Street Financial Select Sector SPDR ETF in Q3 2025, an estimated $474M increase.
- John Overdeck's biggest Q3 2025 reduction was Invesco QQQ Trust, cutting an estimated $381M.
- John Overdeck fully exited NextEra Energy, Inc. 6.926% Corporate Units in Q3 2025, selling an estimated $115M.
- John Overdeck's ten largest holdings make up 6.2% of its $67.2B portfolio in Q3 2025.
- John Overdeck opened 877 new positions and closed 399 in Q3 2025.
- John Overdeck's portfolio value rose 19% quarter-over-quarter to $67.2B.
Based on Two Sigma Investments's 13F filing for Q3 2025, filed 14 Nov 2025.