D. E. Shaw & Co., Inc.

D. E. Shaw & Co., Inc.

Diversified strategyMomentum follower

Total reported value

$166.3B

Reporting period: 2026-03-31 · Number of holdings: 5804

D. E. Shaw & Co., Inc. disclosed 5804 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $166.3B and a quarterly turnover rate of 53.8%.

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Personality snowflake

Concentration
1.77
Portfolio Stability
53.78
Momentum/Contrarian
70.53
Sector conviction
49.11
Diversification
100
Sizing Uniformity
63.02

Recent moves

  • Trim SPY

    -69.8%　-$2.6B

  • Trim NVDA

    -27.3%　-$1.8B

  • Add GOOG

    +142.3%　$1.1B

  • Trim PLTR

    -40.7%　-$1.4B

  • Add AVGO

    +89.5%　$993.6M

  • Add GOOGL

    +49.1%　$729.7M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

D. E. Shaw is aggressively de-grossing into the AI crash-up — dumping SPY beta and trimming NVDA, PLTR, MSFT, AMD, and BKNG while doubling down on GOOG and AVGO. This is not a defensive rotation; it's a tactical capital rotation from crowded momentum leaders to names with lower multiple expansion risk and more diversified growth profiles.

Macro & Fundamentals

The regime shift Shaw is pricing in: the AI trade is peaking in its 'easy alpha' phase, and the next leg requires differentiation — they're reducing passive S&P beta and trimming the names that have driven the index (NVDA, MSFT) to rebalance into higher quality compounders (GOOG, AVGO) that can grow through a PE compression cycle. The opposing thesis: the market is only in the second inning of the AI infrastructure build-out, and Shaw's rotation will miss the sustained momentum as capital rotation remains buy-the-dip into the same leaders.

Blind Spots / Risks

The portfolio's 3,311 holdings and HHI of 0.0044 create a false sense of safety — this is not diversification, it's homogeneity. Shaw is long the same factor (momentum in large-cap tech) across hundreds of small positions, and the trimming of the biggest winners only reduces active share without eliminating the structural crowding into the AI complex. A single-factor reversal in the tech trade will propagate through 90% of the portfolio, as the additions (GOOG, AVGO) are just alternate names in the same overcrowded sector.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 3311 holdings (of 5804 total)

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1NVDANvidia CORPStock-Tech2.31%-0.79%-27.33%
2MSFTMicrosoft CORPStock-Tech1.81%-0.35%-0.22%
3TSLATesla INCStock-Consumer Disc1.63%—+25.46%
4GOOGLAlphabet Inc-cl AStock-Comm Services1.62%+0.54%+49.14%
5AVGOBroadcom INCStock-Tech1.46%+0.68%+89.48%
6AAPLApple INCStock-Tech1.41%—+17.78%
7GOOGAlphabet Inc-cl CStock-Comm Services1.21%+0.71%+142.30%
8MUMicron Technology INCStock-Tech1.18%—-5.60%
9METAMeta Platforms Inc-class AStock-Comm Services1.18%—+38.45%
10AMZNAmazon.com INCStock-Consumer Disc1.01%-0.14%-11.31%
11BSXBoston Scientific CORPStock-Healthcare0.92%+0.33%+117.19%
12AMDAdvanced Micro DevicesStock-Tech0.89%-0.50%-38.53%
13TSMTaiwan Semiconductor-sp AdrStock-Tech0.86%—-12.19%
14JPMJpmorgan Chase & CoStock-Financials0.81%+0.49%+161.83%
15PLTRPalantir Technologies Inc-aStock-Tech0.80%-0.70%-40.70%
16HDHome Depot INCStock-Consumer Disc0.80%—+32.44%
17SNDKSandisk CORPStock-Tech0.74%+0.43%-17.76%
18TGTTarget CORPStock-Consumer Disc0.72%+0.53%+178.70%
19WDC 3 11-15-28Western Digital CORPStock-Tech0.66%+0.27%-1.20%
20LLYEli Lilly & CoStock-Healthcare0.65%—-0.48%
21SPYSs Spdr S&p 500 ETF Trust-usETF-Large Cap & Growth0.64%-1.40%-69.79%
22WDCWestern Digital CORPStock-Tech0.64%—-42.96%
23COSTCostco Wholesale CORPStock-Consumer Staples0.62%—-23.60%
24INTCIntel CORPStock-Tech0.58%+0.30%+56.74%
25GMGeneral Motors CoStock-Consumer Disc0.58%—-10.99%
26LITELumentum Holdings INCStock-Tech0.57%+0.30%+1.63%
27CRWDCrowdstrike Holdings INC - AStock-Tech0.56%+0.25%+95.19%
28INSMInsmed INCStock-Healthcare0.55%—+29.28%
29BEBloom Energy Corp- AStock-Industrials0.54%—-44.76%
30TXNTexas Instruments INCStock-Tech0.53%-0.26%-44.95%
31BKNGBooking Holdings INCStock-Consumer Disc0.52%-0.44%-37.20%
32SOFISofi Technologies INCStock-Financials0.52%-0.25%+1.92%
33UNHUnitedhealth Group INCStock-Healthcare0.52%-0.17%-15.83%
34VVisa Inc-class A SharesStock-Financials0.51%—+8.04%
35NETCloudflare INC - Class AStock-Tech0.50%—+27.38%
36LITE 1.5 12-15-29Lumentum Holdings INCStock-Tech0.48%+0.25%+2.17%
37ORCLOracle CORPStock-Tech0.47%—+66.04%
38ROSTRoss Stores INCStock-Consumer Disc0.47%—-4.04%
39MMM3m CoStock-Industrials0.46%+0.30%+192.63%
40CCitigroup INCStock-Financials0.46%—+61.11%
41SAPSap Se-sponsored AdrStock-Tech0.44%—+83.44%
42ASMLASML Holding N.V.Stock-Tech0.44%+0.29%+120.05%
43STXSeagate Technology Holdings plcStock-Tech0.43%+0.22%+32.82%
44TAt&t INCStock-Comm Services0.41%—-26.61%
45NFLXNetflix INCStock-Comm Services0.40%-0.43%-56.71%
46NSCNorfolk Southern CORPStock-Industrials0.39%—-0.65%
47LMTLockheed Martin CORPStock-Industrials0.38%—-34.53%
48PFEPfizer INCStock-Healthcare0.37%—+63.96%
49TRGPTarga Resources CORPStock-Energy0.37%—-13.14%
50AXPAmerican Express CoStock-Financials0.37%+0.35%+2190.49%
1–50 of 3,311

Holding changes this quarter

D. E. Shaw & Co., Inc.'s most significant position changes for 2026-03-31: Sold out: Ishares Core S&p 500 ETF (IVV); New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Strategy INC (MSTR 0 03-01-30); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -69.79%; Trim: Nvidia CORP (NVDA) — shares -27.33%.

Position changes disclosed by D. E. Shaw & Co., Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1GOOGAlphabet Inc-cl C+0.7%+142.30%Add
2AVGOBroadcom INC+0.7%+89.48%Add
3GOOGLAlphabet Inc-cl A+0.5%+49.14%Add
4TGTTarget CORP+0.5%+178.70%Add
5JPMJpmorgan Chase & Co+0.5%+161.83%Add
6SNDKSandisk CORP+0.4%-17.76%Trim
7AXPAmerican Express Co+0.4%+2190.49%Add
8BSXBoston Scientific CORP+0.3%+117.19%Add
9MMM3m Co+0.3%+192.63%Add
10LITELumentum Holdings INC+0.3%+1.63%Add
11INTCIntel CORP+0.3%+56.74%Add
12ASMLASML Holding N.V.+0.3%+120.05%Add
13WDC 3 11-15-28Western Digital CORP+0.3%-1.20%Trim
14BXBlackstone INC+0.3%+1526.90%Add
15LITE 1.5 12-15-29Lumentum Holdings INC+0.3%+2.17%Add
16CRWDCrowdstrike Holdings INC - A+0.3%+95.19%Add
17MAMastercard INC - A+0.2%+253.50%Add
18CRCLCircle Internet Group INC+0.2%+1882.82%Add
19STXSeagate Technology Holdings plc+0.2%+32.82%Add
20AMZNAmazon.com INC-0.1%-11.31%Trim
21UNHUnitedhealth Group INC-0.2%-15.83%Trim
22RDDTReddit Inc-cl A-0.2%-11.86%Trim
23HONHoneywell International INC-0.2%-61.83%Trim
24BRK-BBerkshire Hathaway Inc-cl B-0.2%-47.38%Trim
25CVNACarvana Co-0.2%-58.61%Trim
26GEVGE Vernova INC-0.2%-86.99%Trim
27DISWalt Disney Co/the-0.2%-50.05%Trim
28BACBank Of America CORP-0.2%-57.32%Trim
29ISRGIntuitive Surgical INC-0.2%-50.26%Trim
30SPOTSpotify Technology S.A.-0.2%-53.45%Trim
31VRSKVerisk Analytics INC-0.2%-60.98%Trim
32SOFISofi Technologies INC-0.3%+1.92%Add
33FICOFair Isaac CORP-0.3%-45.19%Trim
34TTWOTake-two Interactive Softwre-0.3%-67.02%Trim
35MSIMotorola Solutions INC-0.3%-92.64%Trim
36TXNTexas Instruments INC-0.3%-44.95%Trim
37SCHWSchwab (charles) CORP-0.3%-66.87%Trim
38MDBMongodb INC-0.3%-46.17%Trim
39MCDMcdonald's CORP-0.3%-84.07%Trim
40MSFTMicrosoft CORP-0.4%-0.22%Trim
41ADBEAdobe INC-0.4%-59.27%Trim
42NFLXNetflix INC-0.4%-56.71%Trim
43BKNGBooking Holdings INC-0.4%-37.20%Trim
44AMDAdvanced Micro Devices-0.5%-38.53%Trim
45PLTRPalantir Technologies Inc-a-0.7%-40.70%Trim
46NVDANvidia CORP-0.8%-27.33%Trim
47SPYSs Spdr S&p 500 ETF Trust-us-1.4%-69.79%Trim
48IVVIshares Core S&p 500 ETF—EXITSold out
49QQQInvesco Qqq Trust Series 1—NEWNew buy
50MSTR 0 03-01-30Strategy INC—NEWNew buy

FAQ

What is D. E. Shaw & Co., Inc. and what type of investor is it?
D. E. Shaw & Co., Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $166.3B, spread across 5804 disclosed positions.
What are D. E. Shaw & Co., Inc.'s largest equity positions?
Based on the latest 13F filing, D. E. Shaw & Co., Inc.'s top holdings by market value are: 1. Nvidia CORP (NVDA) — $3.8B (2.3%) 2. Microsoft CORP (MSFT) — $3.0B (1.8%) 3. Tesla INC (TSLA) — $2.7B (1.6%) 4. Alphabet Inc-cl A (GOOGL) — $2.7B (1.6%) 5. Broadcom INC (AVGO) — $2.4B (1.5%)
What changes did D. E. Shaw & Co., Inc. make in its most recent portfolio filing?
In the latest reported quarter, D. E. Shaw & Co., Inc. made 50 notable position adjustments: 2 new positions were initiated, 18 existing holdings were added to, 29 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Ishares Core S&p 500 ETF (IVV); New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Strategy INC (MSTR 0 03-01-30); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -69.79%; Trim: Nvidia CORP (NVDA) — shares -27.33%
What sectors does D. E. Shaw & Co., Inc. focus on?
D. E. Shaw & Co., Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 31.5% • Consumer Discretionary: 14.3% • Financials: 11.5% • Health Care: 10.4% • Industrials: 9.1% • Communication Services: 8.1%

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