Two Sigma Investments, Lp
- Regulatory AUM
- $233B
- Discretionary
- $233B
- Clients
- 42
- Avg AUM / client
- $5.5B
- Accounts
- 42
- Employees
- 1,555
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Investment companies | 1 | $1.0B | 0.44% |
| Pooled investment vehicles (non-investment companies) | 39 | $229B | 98.5% |
| Sovereign wealth funds and foreign official institutions | 1 | $229M | 0.1% |
| Corporations and other businesses | 1 | $2.2B | 0.95% |
Private funds (34)
View all →Reported in Form ADV Section 7.B.(1), filing of Aug 2024 · $106B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Two Sigma Spectrum Portfolio, Llc | Hedge Fund | Delaware | $18.4B | 530 |
| Two Sigma Equity Portfolio, Llc | Hedge Fund | Delaware | $17.5B | 363 |
| Two Sigma Horizon Portfolio, Llc | Hedge Fund | Delaware | $13.4B | 744 |
| Two Sigma Equity Spectrum Portfolio, Llc | Hedge Fund | Delaware | $9.2B | 541 |
| Two Sigma Strategies Fund, Llc | Hedge Fund | Delaware | $8.9B | 185 |
| Two Sigma Spectrum Fund, Ltd. master | Hedge Fund | Cayman Islands | $8.7B | 206 |
| Two Sigma Futures Portfolio, Llc | Hedge Fund | Delaware | $6.6B | 543 |
| Two Sigma Spectrum Cayman Fund, Ltd. feeder | Hedge Fund | Cayman Islands | $6.0B | 141 |
| Two Sigma Mercury Master Fund, Llc master | Hedge Fund | Delaware | $3.3B | 10 |
| Two Sigma Spectrum U.S. Fund, Lp feeder | Hedge Fund | Delaware | $2.8B | 65 |
| Two Sigma Mercury Fund, Lp feeder | Hedge Fund | Delaware | $2.5B | 5 |
| Two Sigma Absolute Return Allocator Fund, Llc | Hedge Fund | Delaware | $1.9B | 567 |
| Two Sigma Hamilton Fund, Llc | Hedge Fund | Delaware | $1.8B | 3 |
| Two Sigma Blazar Portfolio, Llc | Hedge Fund | Delaware | $1.7B | 124 |
| Two Sigma Compass Master Fund, Ltd. master | Hedge Fund | Cayman Islands | $616M | 35 |
People (11)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Overdeck, John, Albert | Co Chairman And Co Chief Executive Officer, Chief Investment Officer | May 2001 (25y) | Less than 5% | |
| Siegel, David, Mark | Co Chairman And Co Chief Executive Officer | Jul 2001 (25y) | Less than 5% | |
| Schoppner, Dawn, Marie | Chief Financial Officer | Sep 2010 (16y) | Less than 5% | |
| Otto, Carsten, Nmn | Chief Compliance Officer | Nov 2016 (10y) | Less than 5% | |
| Ramakrishna, Satish | Chief Risk Officer | Dec 2018 (8y) | Less than 5% | |
| Lyons, Carter, Mayberry | Chief Business Officer | Feb 2020 (7y) | Less than 5% | |
| Duncombe, Geoffrey, P | Chief Investment Officer Of Macro | Jul 2021 (5y) | Less than 5% | |
| Metzger, Steve, Hamilton | Co General Counsel | Jul 2023 (3y) | Less than 5% | |
| Nekmouche, Ali Milan, Nmn | Chief Investment Officer Of Equities | Jul 2023 (3y) | Less than 5% | |
| Reynolds, Timothy, John | Chief Operating Officer | Jul 2023 (3y) | Less than 5% | |
| Shih, Gregory, Chen Yu | Co General Counsel | Jul 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| John A. Overdeck Revocable Trust | Limited Partner | Jan 2008 | A | 25% – 50% |
| David M. Siegel Revocable Trust | Limited Partner | Jan 2008 | A | 25% – 50% |
| Sunburst Trust | Limited Partner | Jan 2020 | A | 5% – 10% |
| Sudachi Trust | Limited Partner | Jan 2020 | A | 5% – 10% |
| Sunflower Ptc Llc | Trustee Of Sunburst Trust | Jan 2020 | A | 5% – 10% |
| Shinrai Ptc Llc | Trustee Of Sudachi Trust | Jan 2020 | A | 5% – 10% |
| Two Sigma Management, Llc | General Partner | Dec 2005 | A | Less than 5% |
| Sunflower Special Purpose Trust I | Member | Jan 2020 | B | ≈ 3.75% – 10% via Sunflower Ptc Llc |
| Shinrai Special Purpose Trust I | Member | Jan 2020 | B | ≈ 3.75% – 10% via Shinrai Ptc Llc |
| John A. Overdeck Revocable Trust | Member | Jan 2008 | B | ≈ 0% – 2.5% via Two Sigma Management, Llc |
| David M. Siegel Revocable Trust | Member | Jan 2008 | B | ≈ 0% – 2.5% via Two Sigma Management, Llc |
| Frontier Directed Fiduciary Services Llc | Trustee | Jan 2020 | B | GP / trustee / elected manager of Sunflower Special Purpose Trust I (indirect) |
| Sunflower Special Purpose Trust Ii | Manager | Jan 2020 | B | GP / trustee / elected manager of Sunflower Ptc Llc (indirect) |
| Shinrai Ptc Llc | Trustee | Jan 2020 | B | GP / trustee / elected manager of Sudachi Trust (indirect) |
| Shinrai Special Purpose Trust Ii | Manager | Jan 2020 | B | GP / trustee / elected manager of Shinrai Ptc Llc (indirect) |
| Sunflower Ptc Llc | Trustee | Jan 2020 | B | GP / trustee / elected manager of Sunburst Trust (indirect) |
Undisclosed: 0% – 30% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Sunflower Special Purpose Trust I: 75% – 100% of Sunflower Ptc Llc × 5% – 10% direct ≈ 3.75% – 10% of the firm
- Shinrai Special Purpose Trust I: 75% – 100% of Shinrai Ptc Llc × 5% – 10% direct ≈ 3.75% – 10% of the firm
- John A. Overdeck Revocable Trust: 25% – 50% of Two Sigma Management, Llc × 0% – 5% direct ≈ 0% – 2.5% of the firm
- David M. Siegel Revocable Trust: 25% – 50% of Two Sigma Management, Llc × 0% – 5% direct ≈ 0% – 2.5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (34, $106B gross assets)
Top 25 of 34 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 19.7 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: ON FEBRUARY 22 AND 23 2016, FUNDS MANAGED BY TWO SIGMA INVESTMENTS, LP ("TSI") AND ITS AFFILIATE HELD AGGREGATED WHEAT FUTURES POSITIONS IN EXCESS OF THE STANDARD ALL MONTH LIMIT UNDER CHICAGO BOARD OF TRADE RULE 562. Status: Final Sanction Detail: MONETARY PENALTY ORDERED OF $25,000 WHICH WAS PAID ON MARCH 30, 2017 Summary: ON FEBRUARY 22 AND 23 2016, FUNDS MANAGED BY TSI AND ITS AFFILIATE, HELD AGGREGATED WHEAT FUTURES POSITIONS IN EXCESS OF THE STANDARD ALL MONTH LIMIT UNDER CHICAGO BOARD OF TRADE RULE 562. ON MARCH 28, 2017, A PANEL OF THE CHICAGO BOARD OF TRADE'S BUSINESS CONDUCT COMMITTEE ACCEPTED TSI'S OFFER OF SETTLEMENT PURSUANT TO WHICH TSI AGREED TO PAY A FINE IN THE AMOUNT OF $25,000 WHILE NEITHER ADMITTING NOR DENYING ANY RULE VIOLATION.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Morgan Stanley $2.4B (1% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗