{
  "crd_number": 137137,
  "slug": "two-sigma-investments-lp-new-york-ny-137137",
  "primary_business_name": "TWO SIGMA INVESTMENTS, LP",
  "legal_name": "TWO SIGMA INVESTMENTS, LP",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2009-08-21",
  "years_registered": 17,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 232818912899.0,
  "raum_discretionary": 232818912899.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 1555,
  "advisory_employees": 784,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": null,
      "count": 0
    },
    "charitable": {
      "raum": null,
      "count": 0
    },
    "individuals": {
      "raum": null,
      "count": 0
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": null,
      "count": 0
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": 1015709466.0,
      "count": 1
    },
    "pension_profit_sharing": {
      "raum": null,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": null,
      "count": 0
    },
    "pooled_investment_vehicles": {
      "raum": 229370044181.0,
      "count": 39
    },
    "corporations_other_businesses": {
      "raum": 2204640468.0,
      "count": 1,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 228518784.0,
      "count": 1,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 4,
  "states_registered": [
    "FL",
    "NY"
  ],
  "websites": [
    "https://beakerx.com",
    "https://facebook.com/twosigmainvestments",
    "https://github.com/twosigma",
    "https://instagram.com/twosigma",
    "https://linkedin.com/company/two-sigma-investments",
    "https://twosigma.cn",
    "https://twosigma.com",
    "https://x.com/beakerxnotebook",
    "https://x.com/twosigma",
    "https://x.com/twosigmacareers",
    "https://youtube.com/@twosigma4874"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/137137",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/two-sigma-investments-lp-new-york-ny-137137",
  "display_name": "Two Sigma Investments, LP",
  "summary": "Two Sigma Investments, LP is an SEC-registered investment advisory firm in New York, NY, registered since 2009, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Two Sigma Investments, LP (CRD 137137): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Two Sigma Investments, LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Two Sigma Investments, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "What does Two Sigma Investments, LP's brochure say about its fees?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: up to 4% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Two Sigma Investments, LP located?",
      "a": "Two Sigma Investments, LP's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Two Sigma Investments, LP registered with the SEC or a state?",
      "a": "Two Sigma Investments, LP is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 137137."
    },
    {
      "q": "How much does Two Sigma Investments, LP manage?",
      "a": "Two Sigma Investments, LP reports $232,818,912,899 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Two Sigma Investments, LP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Two Sigma Investments, LP: Regulatory assets under management: $68,902,797,801 in the October 2021 data and $232,818,912,899 in the October 2026 data, up 238%. Total employees: 1,396 in October 2021 and 1,555 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Two Sigma Investments, LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (39); investment companies (1); sovereign wealth funds and foreign official institutions (1)."
    },
    {
      "q": "Which custodians does Two Sigma Investments, LP use?",
      "a": "Two Sigma Investments, LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. International PLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Two Sigma Investments, LP report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/137137"
    },
    {
      "q": "What changed in Two Sigma Investments, LP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 749 to 784. Regulatory assets under management went from $110,281,140,166 to $232,818,912,899 (+111%). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 68902797801.0,
      "total_employees": 1396,
      "filing_date": "2021-09-27"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 81175371804.0,
      "total_employees": 1454,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 70802799201.0,
      "total_employees": 1965,
      "filing_date": "2023-07-14"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 83955729097.0,
      "total_employees": 1954,
      "filing_date": "2024-08-07"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 110281140166.0,
      "total_employees": 1575,
      "filing_date": "2025-07-25"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 232818912899.0,
      "total_employees": 1555,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 749 to 784.",
        "Regulatory assets under management went from $110,281,140,166 to $232,818,912,899 (+111%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": "4% of assets a year",
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: up to 4% of assets a year (the maximum the brochure states)"
        ],
        "quotes": [
          "Currently, such fees have annualized rates of up to 4%, as described in each such Client’s Applicable Governing Documents"
        ]
      }
    ],
    "quotes": [
      "Currently, such fees have annualized rates of up to 4%, as described in each such Client’s Applicable Governing Documents"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Morgan Stanley & Co. International PLC",
      "name_as_filed": "MORGAN STANLEY & CO. INTERNATIONAL PLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/two-sigma-investments-lp-new-york-ny-137137.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 1015709466.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 39,
      "fewer_than_5": false,
      "raum": 229370044181.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 1,
      "fewer_than_5": true,
      "raum": 228518784.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 1,
      "fewer_than_5": true,
      "raum": 2204640468.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/137137",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}