D. E. Shaw & Co., Inc.

New York, NY · CIK 1009207 · 13F filing filed 2025-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$100.4bn reported value +19.2% vs Q1 2025

3,068positions

17.1%in top 10

459 new 1,106 added 1,211 reduced 408 sold out vs Q1 2025

Options: 651 call positions ($19.5bn notional), 587 put positions ($21.1bn notional) – listed below, not included above.

This report includes the holdings of 5 other managers that share the investment decisions:

D. E. SHAW & CO, L.P. – reports through this filing
D. E. Shaw Adviser II, L.L.C. – reports through this filing
D. E. Shaw Adviser, L.L.C. – reports through this filing
D. E. Shaw Heliant Adviser, L.L.C. – reports through this filing
D. E. Shaw Investment Management, L.L.C. – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	5,953,794	$3.7bn3.66%	3.66%	Added +189.2k	+189,169 3.3%
2	NVIDIA CORPORATION COM NVDA	NVDA	20,324,463	$3.2bn3.20%	3.20%	Added +8.1m	+8,136,711 66.8%
3	APPLE INC COM AAPL	AAPL	11,618,867	$2.4bn2.37%	2.37%	Added +5.9m	+5,931,449 104.3%
4	MICROSOFT CORP COM MSFT	MSFT	3,697,177	$1.8bn1.83%	1.83%	Reduced -1.1m	-1,134,255 -23.5%
5	NETFLIX INC COM NFLX	NFLX	948,911	$1.3bn1.27%	1.27%	Added +618.6k	+618,574 187.3%
6	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	7,817,095	$1.1bn1.06%	1.06%	Reduced -139.6k	-139,591 -1.8%
7	GE AEROSPACE COM NEW GE	GE	3,739,922	$962.6m0.96%	0.96%	Added +2.7m	+2,687,564 255.4%
8	T-MOBILE US INC COM TMUS	TMUS	4,010,687	$955.6m0.95%	0.95%	Added +3.7m	+3,731,393 1336.0%
9	MICRON TECHNOLOGY INC COM MU	MU	7,355,788	$906.6m0.90%	0.90%	Added +7.2m	+7,193,284 4426.5%
10	CARVANA CO CL A CVNA	CVNA	2,558,519	$862.1m0.86%	0.86%	Added +1.5m	+1,458,558 132.6%
11	AMAZON COM INC COM AMZN	AMZN	3,892,276	$853.9m0.85%	0.85%	Reduced -301.8k	-301,764 -7.2%
12	MERCK & CO INC COM MRK	MRK	10,367,789	$820.7m0.82%	0.82%	Added +1.1m	+1,056,063 11.3%
13	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	15,617,702	$817.9m0.81%	0.81%	Added +3.3m	+3,263,035 26.4%
14	BOOKING HOLDINGS INC COM BKNG	BKNG	138,182	$800.0m0.80%	0.80%	Reduced -33.5k	-33,488 -19.5%
15	DISNEY WALT CO COM DIS	DIS	6,215,270	$770.8m0.77%	0.77%	Reduced -445.3k	-445,298 -6.7%
16	BOSTON SCIENTIFIC CORP COM BSX	BSX	6,755,151	$725.6m0.72%	0.72%	Added +2.9m	+2,916,007 76.0%
17	APPLOVIN CORP COM CL A APP	APP	1,865,752	$653.2m0.65%	0.65%	Added +1.6m	+1,630,363 692.6%
18	INTUIT COM INTU	INTU	814,196	$641.3m0.64%	0.64%	Reduced -697.9k	-697,882 -46.1%
19	BROADCOM INC COM AVGO	AVGO	2,217,545	$611.3m0.61%	0.61%	Reduced -1.4m	-1,428,079 -39.2%
20	MASTERCARD INCORPORATED CL A MA	MA	1,065,616	$598.8m0.60%	0.60%	Added +393.2k	+393,194 58.5%
21	META PLATFORMS INC CL A META	META	802,135	$592.0m0.59%	0.59%	Reduced -360.0k	-359,954 -31.0%
22	ZSCALER INC COM ZS	ZS	1,882,448	$591.0m0.59%	0.59%	Added +1.9m	+1,879,992 76546.9%
23	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	1,325,972	$537.6m0.54%	0.54%	Added +1.1m	+1,090,601 463.4%
24	SOFI TECHNOLOGIES INC COM SOFI	SOFI	29,252,137	$532.7m0.53%	0.53%	Reduced -5.8m	-5,827,311 -16.6%
25	HESS CORP COM HES	HES	3,806,017	$527.3m0.52%	0.52%	Reduced -8.0k	-7,955 -0.2%
26	ROBLOX CORP CL A RBLX	RBLX	4,940,104	$519.7m0.52%	0.52%	Added +2.5m	+2,499,280 102.4%
27	AERCAP HOLDINGS NV SHS AER	AER	4,323,594	$505.9m0.50%	0.50%	Added +387.2k	+387,222 9.8%
28	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	4,446,111	$504.2m0.50%	0.50%	Added +3.8m	+3,777,539 565.0%
29	TAKE-TWO INTERACTIVE SOFTWAR COM TTWO	TTWO	2,058,328	$499.9m0.50%	0.50%	Added +1.4m	+1,363,089 196.1%
30	WELLS FARGO CO NEW COM WFC	WFC	5,662,320	$453.7m0.45%	0.45%	Added +4.0m	+4,020,358 244.8%
31	ATLASSIAN CORPORATION CL A TEAM	TEAM	2,228,079	$452.5m0.45%	0.45%	Added +1.7m	+1,698,230 320.5%
32	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	7,363,495	$450.7m0.45%	0.45%	Reduced -758.5k	-758,473 -9.3%
33	ALPHABET INC CAP STK CL A GOOGL	GOOGL	2,520,040	$444.1m0.44%	0.44%	Reduced -1.2m	-1,249,332 -33.1%
34	AMPHENOL CORP CL A APH	APH	4,468,852	$441.3m0.44%	0.44%	Added +3.4m	+3,369,131 306.4%
35	JOHNSON & JOHNSON COM JNJ	JNJ	2,845,798	$434.7m0.43%	0.43%	Added +1.7m	+1,671,808 142.4%
36	TEXAS INSTRS INC COM TXN	TXN	2,072,269	$430.2m0.43%	0.43%	Added +308.4k	+308,402 17.5%
37	FISERV INC COM FISV	FISV	2,484,033	$428.3m0.43%	0.43%	Added +2.5m	+2,471,542 19786.6%
38	DOLLAR TREE INC COM DLTR	DLTR	4,233,606	$419.3m0.42%	0.42%	Added +1.9m	+1,946,171 85.1%
39	ELI LILLY & CO COM LLY	LLY	528,132	$411.7m0.41%	0.41%	Reduced -45.2k	-45,197 -7.9%
40	ROCKET LAB CORP COM RKLB	RKLB	11,477,962	$410.6m0.41%	0.41%	New
41	REGENERON PHARMACEUTICALS COM REGN	REGN	777,469	$408.2m0.41%	0.41%	Added +198.6k	+198,580 34.3%
42	COUPANG INC CL A CPNG	CPNG	13,449,323	$402.9m0.40%	0.40%	Added +7.8m	+7,808,504 138.4%
43	NRG ENERGY INC DBCV 2.750% 6/0 · principal NRG 2.75 06.01.48 · principal	NRG 2.75 06.01.48	102,199,000	$400.8m0.40%	0.40%	Added +31.0m	+31,000,000 43.5%
44	RUBRIK INC. CL A RBRK	RBRK	4,322,942	$387.3m0.39%	0.39%	Added +2.0m	+2,014,750 87.3%
45	FIVE BELOW INC COM FIVE	FIVE	2,884,298	$378.4m0.38%	0.38%	Added +2.5m	+2,518,452 688.4%
46	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	4,445,288	$368.6m0.37%	0.37%	Added +156.3k	+156,300 3.6%
47	DUPONT DE NEMOURS INC COM DWDP	DWDP	5,362,619	$367.8m0.37%	0.37%	Added +1.2m	+1,216,226 29.3%
48	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	1,996,216	$366.2m0.36%	0.36%	Added +774.3k	+774,275 63.4%
49	EQUINIX INC COM EQIX	EQIX	450,679	$358.5m0.36%	0.36%	Added +16.6k	+16,589 3.8%
50	ICON PLC SHS ICLR	ICLR	2,434,011	$354.0m0.35%	0.35%	Added +772.3k	+772,275 46.5%
51	SHELL PLC SPON ADS SHEL	SHEL	4,936,889	$347.6m0.35%	0.35%	Reduced -1.2m	-1,160,307 -19.0%
52	INSMED INC COM PAR $.01 INSM	INSM	3,422,619	$344.5m0.34%	0.34%	Added +2.7m	+2,687,739 365.7%
53	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	630,808	$342.8m0.34%	0.34%	Added +81.5k	+81,541 14.8%
54	LINDE PLC SHS LIN	LIN	716,836	$336.3m0.33%	0.33%	Added +122.4k	+122,387 20.6%
55	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	686,781	$333.6m0.33%	0.33%	Added +346.4k	+346,419 101.8%
56	TESLA INC COM TSLA	TSLA	1,045,493	$332.1m0.33%	0.33%	Reduced -763.7k	-763,685 -42.2%
57	WILLIAMS SONOMA INC COM WSM	WSM	1,987,513	$324.7m0.32%	0.32%	Added +51.0k	+50,959 2.6%
58	VISA INC COM CL A V	V	909,760	$323.0m0.32%	0.32%	Added +62.7k	+62,690 7.4%
59	ALPHABET INC CAP STK CL C GOOG	GOOG	1,804,201	$320.0m0.32%	0.32%	Reduced -122.3k	-122,298 -6.3%
60	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	4,015,700	$319.2m0.32%	0.32%	Added +1.9m	+1,869,100 87.1%
61	THE CIGNA GROUP COM CI	CI	961,330	$317.8m0.32%	0.32%	Added +820.4k	+820,366 582.0%
62	BANK AMERICA CORP COM BAC	BAC	6,676,951	$316.0m0.31%	0.31%	Added +3.3m	+3,278,828 96.5%
63	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	3,372,369	$312.2m0.31%	0.31%	Reduced -241.0k	-240,955 -6.7%
64	GENERAL MTRS CO COM GM	GM	6,250,671	$307.6m0.31%	0.31%	Added +116.0k	+115,964 1.9%
65	ATI INC COM ATI	ATI	3,513,948	$303.4m0.30%	0.30%	Added +1.9m	+1,874,654 114.4%
66	AMER SPORTS INC COM SHS AS	AS	7,602,695	$294.7m0.29%	0.29%	Added +3.7m	+3,728,256 96.2%
67	ROSS STORES INC COM ROST	ROST	2,278,371	$290.7m0.29%	0.29%	Added +190.9k	+190,892 9.1%
68	DUTCH BROS INC CL A BROS	BROS	4,228,571	$289.1m0.29%	0.29%	Reduced -1.1m	-1,071,793 -20.2%
69	ABBVIE INC COM ABBV	ABBV	1,540,853	$286.0m0.28%	0.28%	Added +918.6k	+918,609 147.6%
70	AST SPACEMOBILE INC COM CL A ASTS	ASTS	5,888,576	$275.2m0.27%	0.27%	Added +891.9k	+891,907 17.9%
71	EQT CORP COM EQT	EQT	4,717,080	$275.1m0.27%	0.27%	Reduced -633.9k	-633,878 -11.8%
72	MOSAIC CO NEW COM MOS	MOS	7,420,966	$270.7m0.27%	0.27%	Added +2.7m	+2,664,289 56.0%
73	TJX COS INC NEW COM TJX	TJX	2,143,570	$264.7m0.26%	0.26%	Added +44.9k	+44,891 2.1%
74	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,204,529	$263.4m0.26%	0.26%	Added +397.6k	+397,615 49.3%
75	BELLRING BRANDS INC COMMON STOCK BRBR	BRBR	4,524,539	$262.1m0.26%	0.26%	Added +1.3m	+1,320,964 41.2%
76	PROCTER AND GAMBLE CO COM PG	PG	1,630,375	$259.8m0.26%	0.26%	Added +1.5m	+1,506,318 1214.2%
77	SPROUTS FMRS MKT INC COM SFM	SFM	1,572,059	$258.8m0.26%	0.26%	Added +270.1k	+270,109 20.8%
78	TARGA RES CORP COM TRGP	TRGP	1,484,174	$258.4m0.26%	0.26%	Added +1.5m	+1,479,380 30859.0%
79	DANAHER CORPORATION COM DHR	DHR	1,298,966	$256.6m0.26%	0.26%	Reduced -1.3m	-1,250,815 -49.1%
80	WALMART INC COM WMT	WMT	2,598,860	$254.1m0.25%	0.25%	Added +1.1m	+1,149,725 79.3%
81	ELEVANCE HEALTH INC COM ELV	ELV	649,004	$252.4m0.25%	0.25%	Added +408.7k	+408,730 170.1%
82	NUSCALE PWR CORP CL A COM SMR	SMR	6,374,003	$252.2m0.25%	0.25%	Added +3.1m	+3,054,613 92.0%
83	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	1,688,415	$243.7m0.24%	0.24%	Added +1.7m	+1,673,943 11566.8%
84	WESTERN DIGITAL CORP NOTE 3.000%11/1 · principal WDC 3 11.15.28 · principal	WDC 3 11.15.28	134,612,000	$241.7m0.24%	0.24%	Added +87.6m	+87,578,000 186.2%
85	CINEMARK HLDGS INC NOTE 4.500% 8/1 · principal CNK 4.5 08.15.25 · principal	CNK 4.5 08.15.25	112,571,000	$238.7m0.24%	0.24%	Added +43.8m	+43,750,000 63.6%
86	SEA LTD NOTE 2.375%12/0 · principal SEALTD 2.375 12.01.25 · principal	SEALTD 2.375 12.01.25	131,279,000	$233.0m0.23%	0.23%	Added +36.0m	+36,000,000 37.8%
87	GRAB HOLDINGS LIMITED CLASS A ORD GRAB	GRAB	46,149,629	$232.1m0.23%	0.23%	Added +15.6m	+15,568,559 50.9%
88	SALESFORCE INC COM CRM	CRM	851,040	$232.1m0.23%	0.23%	Added +227.3k	+227,268 36.4%
89	DIAMONDBACK ENERGY INC COM FANG	FANG	1,672,796	$229.8m0.23%	0.23%	Added +1.1m	+1,065,200 175.3%
90	SEAGATE HDD CAYMAN NOTE 3.500% 6/0 · principal STX 3.5 06.01.28 · principal	STX 3.5 06.01.28	125,460,000	$225.9m0.22%	0.22%	New
91	ROYAL CARIBBEAN GROUP COM RCL	RCL	707,015	$221.4m0.22%	0.22%	Reduced -1.0m	-1,001,956 -58.6%
92	NRG ENERGY INC COM NEW NRG	NRG	1,369,242	$219.9m0.22%	0.22%	Added +1.2m	+1,223,392 838.8%
93	SEA LTD SPONSORD ADS SE	SE	1,365,221	$218.4m0.22%	0.22%	New
94	BECTON DICKINSON & CO COM BDX	BDX	1,248,203	$215.0m0.21%	0.21%	Added +1.0m	+1,045,045 514.4%
95	KENVUE INC COM KVUE	KVUE	9,997,181	$209.2m0.21%	0.21%	Added +6.3m	+6,278,750 168.8%
96	MEDTRONIC PLC SHS MDT	MDT	2,400,282	$209.2m0.21%	0.21%	Added +223.9k	+223,901 10.3%
97	HUMANA INC COM HUM	HUM	845,445	$206.7m0.21%	0.21%	Reduced -5.5k	-5,451 -0.6%
98	MODERNA INC COM MRNA	MRNA	7,463,555	$205.9m0.21%	0.21%	Added +1.8m	+1,827,404 32.4%
99	FAIR ISAAC CORP COM FICO	FICO	111,530	$203.9m0.20%	0.20%	Reduced -45.2k	-45,178 -28.8%
100	ANTERO RESOURCES CORP COM AR	AR	5,034,749	$202.8m0.20%	0.20%	Added +2.0m	+1,981,695 64.9%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
BOOKING HOLDINGS INC BKNG 0.75 05.01.25	BKNG 0.75 05.01.25	120,642,000	$296.5m120.6m shares
ROCKET LAB USA INC		13,636,776	$243.8m13.6m shares
ZSCALER INC ZS 0.125 07.01.25	ZS 0.125 07.01.25	171,270,000	$227.0m171.3m shares
NOVO-NORDISK A S NVO	NVO	2,582,572	$179.3m2.6m shares
INSMED INC INSM 0.75 06.01.28	INSM 0.75 06.01.28	74,505,000	$176.7m74.5m shares
ISHARES TR HYG	HYG	1,920,000	$151.5m1.9m shares
ISHARES TR LQD	LQD	1,381,100	$150.1m1.4m shares
NCL CORP LTD NCLH 5.375 08.01.25	NCLH 5.375 08.01.25	108,597,000	$124.4m108.6m shares
INTRA-CELLULAR THERAPIES INC ITCI	ITCI	923,809	$121.9m923.8k shares
UNITED STATES STL CORP X 5 11.01.26	X 5 11.01.26	33,937,000	$107.6m33.9m shares
BARRICK GOLD CORP		4,859,762	$94.5m4.9m shares
SELECT SECTOR SPDR TR XLI	XLI	500,497	$65.6m500.5k shares
DOLLAR GEN CORP NEW DG	DG	740,545	$65.1m740.5k shares
VISTRA CORP VST	VST	507,097	$59.6m507.1k shares
INFINERA CORP INFN 3.75 08.01.28	INFN 3.75 08.01.28	46,247,000	$59.1m46.2m shares
HUBSPOT INC HUBS 0.375 06.01.25	HUBS 0.375 06.01.25	26,496,000	$53.4m26.5m shares
M & T BK CORP MTB	MTB	265,340	$47.4m265.3k shares
CANADIAN PACIFIC KANSAS CITY CP	CP	669,549	$47.0m669.5k shares
MICROCHIP TECHNOLOGY INC. MCHP 7.5 03.15.28	MCHP 7.5 03.15.28	950,000	$46.7m950.0k shares
DISCOVER FINL SVCS DFS	DFS	269,176	$45.9m269.2k shares
FIVE9 INC FIVN 0.5 06.01.25	FIVN 0.5 06.01.25	45,519,000	$45.2m45.5m shares
INTERNATIONAL FLAVORS&FRAGRA IFF	IFF	526,463	$40.9m526.5k shares
ORMAT TECHNOLOGIES INC ORA 2.5 07.15.27	ORA 2.5 07.15.27	39,394,000	$40.7m39.4m shares
BLOOM ENERGY CORP BE 3 06.01.28	BE 3 06.01.28	29,795,000	$39.2m29.8m shares
ASML HOLDING N V ASML	ASML	58,955	$39.1m59.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
NVIDIA CORPORATION NVDA · Call	NVDA	Call	5,745,100	$907.7m5.7m shares	Added
NVIDIA CORPORATION NVDA · Put	NVDA	Put	5,569,000	$879.8m5.6m shares	Added
TESLA INC TSLA · Put	TSLA	Put	2,547,100	$809.1m2.5m shares	Added
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	4,232,800	$600.6m4.2m shares	Reduced
APPLE INC AAPL · Put	AAPL	Put	2,882,400	$591.4m2.9m shares	Added
MICRON TECHNOLOGY INC MU · Put	MU	Put	4,715,300	$581.2m4.7m shares	Added
ISHARES TR IWM · Put	IWM	Put	2,675,000	$577.2m2.7m shares	New
BOOKING HOLDINGS INC BKNG · Call	BKNG	Call	92,000	$532.6m92.0k shares	Reduced
NETFLIX INC NFLX · Call	NFLX	Call	363,900	$487.3m363.9k shares	Added
PALANTIR TECHNOLOGIES INC PLTR · Call	PLTR	Call	3,518,900	$479.7m3.5m shares	Reduced
ALIBABA GROUP HLDG LTD BABA · Call	BABA	Call	4,169,600	$472.9m4.2m shares	Added
PALANTIR TECHNOLOGIES INC PLTR · Put	PLTR	Put	3,374,800	$460.1m3.4m shares	Added
APPLE INC AAPL · Call	AAPL	Call	2,231,000	$457.7m2.2m shares	Added
CROWDSTRIKE HLDGS INC CRWD · Put	CRWD	Put	888,100	$452.3m888.1k shares	Added
META PLATFORMS INC META · Put	META	Put	606,200	$447.4m606.2k shares	Added
BROADCOM INC AVGO · Put	AVGO	Put	1,515,600	$417.8m1.5m shares	Added
JPMORGAN CHASE & CO JPM · Call	JPM	Call	1,381,600	$400.5m1.4m shares	Added
AMAZON COM INC AMZN · Put	AMZN	Put	1,672,900	$367.0m1.7m shares	Added
ALPHABET INC GOOGL · Put	GOOGL	Put	1,867,800	$329.2m1.9m shares	Added
TAIWAN SEMICONDUCTOR MFG LTD TSM · Put	TSM	Put	1,434,100	$324.8m1.4m shares	Added
BOEING CO BA · Call	BA	Call	1,506,200	$315.6m1.5m shares	Reduced
CLOUDFLARE INC NET · Call	NET	Call	1,585,700	$310.5m1.6m shares	Added
SUPER MICRO COMPUTER INC SMCI · Call	SMCI	Call	6,335,300	$310.5m6.3m shares	Added
TESLA INC TSLA · Call	TSLA	Call	977,200	$310.4m977.2k shares	Added
ELI LILLY & CO LLY · Put	LLY	Put	392,600	$306.0m392.6k shares	Added