Style
GARPTurnover
Orientation
Concentrated traderD. E. Shaw & Co. employs a quantitative, high-turnover growth strategy, deploying a vast, highly diversified portfolio of 5,726 positions across $177.2 billion in assets. The fund’s largest conviction areas are technology at 22.2% and consumer cyclical at 11.3%, with its top five holdings—led by NVIDIA (1.5%), Microsoft (1.4%), and Broadcom (1.2%)—all concentrated in mega-cap tech and AI-related names. Despite the high turnover, the portfolio’s modest top-15 weights (each under 1.6%) and broad sector spread, including healthcare (10.5%) and financial services (9.6%), reveal a disciplined risk-parity approach that balances systematic factor exposure against idiosyncratic stock selection.
| # | Security | Shares | Value | % of Portfolio |
|---|---|---|---|---|
| 1 | State STR Spdr S&P 500 ETF T(SPY) | 14,028,230 | $10.5B | 4.98% |
| 2 | Nvidia Corporation(NVDA) | 20,042,818 | $4.0B | 1.91% |
| 3 | Alphabet Inc(GOOGL) | 7,915,724 | $2.8B | 1.35% |
| 4 | Amazon COM Inc(AMZN) | 10,945,883 | $2.6B | 1.24% |
Latest filing, equity positions only
| 5 |
| Alphabet Inc(GOOG) |
| 6,751,217 |
| $2.4B |
| 1.13% |
| 6 | Meta Platforms Inc(META) | 3,397,091 | $1.9B | 0.91% |
| 7 | Tesla Inc(TSLA) | 4,349,492 | $1.8B | 0.87% |
| 8 | Advanced Micro Devices Inc(AMD) | 3,082,478 | $1.8B | 0.85% |
| 9 | Crowdstrike Hldgs Inc(CRWD) | 2,133,301 | $1.6B | 0.77% |
| 10 | Apple Inc(AAPL) | 5,603,656 | $1.6B | 0.77% |
Quarter-over-quarter weight changes
| Sector | Prev % | Curr % | Change |
|---|---|---|---|
| Unclassified | 14.07% | 20.44% | +6.37% |
| Consumer Cyclical | 11.51% | 9.96% | -1.55% |
| Consumer Defensive | 4.24% | 2.86% | -1.38% |
| Healthcare | 10.64% | 9.51% | -1.13% |
| Basic Materials | 4.14% | 3.14% | -1% |
| Energy | 4.13% | 3.4% | -0.73% |
| Industrials | 9.28% | 8.64% | -0.64% |
| Communication Services | 6.66% | 7.18% | +0.52% |
| Real Estate | 2.02% | 1.61% | -0.41% |
| Utilities | 1.15% | 0.92% | -0.23% |
| Financial Services | 9.81% | 9.91% | +0.1% |
| Technology | 22.35% | 22.43% | +0.08% |
Quarter-over-quarter weight changes by market cap
| Cap Size | Prev % | Curr % | Change |
|---|---|---|---|
| Large Cap | 43.64% | 38.56% | -5.08% |
| Mega Cap | 25.37% | 23.66% | -1.71% |
| Unclassified | 14.08% | 20.44% | +6.36% |
| Mid Cap | 12.74% | 12.68% | -0.06% |
| Small Cap | 3.94% | 4.36% | +0.42% |
| Micro Cap | 0.23% | 0.29% | +0.06% |
Quarter-over-quarter position changes
D.E. Shaw is adapting its strategy to counter intensifying competition for talent and rising technology costs by moving some of its best investment ideas to an employee-only fund and tightening client terms. With record assets of about $125 billion, strong recent returns, and a collective leadership structure, the firm is also expanding into human-trader-led strategies while maintaining a strict focus on long-term risk management.