TWO SIGMA SECURITIES, LLC

CIK 0001450144 · Q1 2026

13F Equity AUM

$860.9M

+18.3% QoQ

Positions

1,586

+180 QoQ

AUM Rank

#3,100

Top 25%

Skill Alpha (FF)

+4.4%/yr^ns

No Clear Edge

Rank #678 · Top 8%

vs S&P +2.3%/yr (unadj.)

Quarters Tracked

~11 years

Portfolio Concentration

Top 5: 5.1%Top 10: 8.6%Top 20: 13.9%

AGG1.4%

AMZN1.0%

SOXL0.9%

IEF0.9%

TSLA0.8%

RSP0.8%

BND0.7%

NDQ0.7%

VOO0.7%

EEM0.7%

Others (1576)91.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services47.6%

Technology12.3%

Industrials8.9%

Consumer Cyclical6.8%

Healthcare4.8%

Energy4.8%

Basic Materials3.1%

Communication Services2.8%

Other8.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 1586Median: 0.03%Avg: 0.06%

0–0.5%

1570(88.0%)

0.5–1%

14(9.6%)

1–3%

2(2.5%)

3–5%

0(0.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 1,244Unique: 342vs 20 funds

16.3%Moderate

1,586

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

20.7%

BANK OF AMERICA CORP /DE/

21%

JPMORGAN CHASE & CO

18.9%

BlackRock, Inc.

21.1%

GEODE CAPITAL MANAGEMENT, LLC

19.7%

STATE STREET CORP

19.9%

VANGUARD CAPITAL MANAGEMENT LLC

19.9%

FMR LLC

22.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

19.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New956Increased316Decreased324Exited778

New Positions

SOXL0.9%

+169K

NDQ0.7%

+10K

EEM0.7%

+100K

VOO0.7%

+10K

VTI0.6%

+16K

NSC0.5%

+16K

DAL0.5%

+64K

XLG0.4%

+67K

IDI0.4%

+10K

IEMG0.3%

+44K

Increased

BMNU0.0%

+198K(+1752%)

SNAP0.1%

+194K(+1025%)

PJX0.3%

+133K(+840%)

NOK0.1%

+127K(+515%)

RWM0.3%

+127K(+464%)

AGG1.4%

+120K(+2207%)

XMP00.0%

+87K(+156%)

TTD0.3%

+84K(+395%)

KWEB0.5%

+81K(+139%)

YYAI0.0%

+76K(+432%)

Decreased

TZA0.1%

-321,599(-67%)

HYG0.5%

-177,773(-76%)

SIDU0.0%

-117,561(-91%)

BITF0.0%

-104,759(-70%)

IUSB0.2%

-79,583(-73%)

BKLN0.3%

-73,874(-38%)

GPUS0.0%

-73,798(-64%)

USHY0.2%

-72,160(-65%)

ASHR0.0%

-69,973(-86%)

SABR0.0%

-69,205(-78%)

Exited

-25,494

-96,237

-78,934

-69,314

-29,735

-49,277

-15,515

-57,317

-8,798

-32,824

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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