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  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <credentials>
          <cik>0001179392</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2025</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>TWO SIGMA INVESTMENTS, LP</name>
        <address>
          <com:street1>100 AVENUE OF THE AMERICAS</com:street1>
          <com:street2>16TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10013</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-10385</form13FFileNumber>
      <crdNumber>000137137</crdNumber>
      <secFileNumber>801-70476</secFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>This Form 13F holdings report is being filed on behalf of Two Sigma Investments, LP ("Investments"). Investments serves as the sole manager or investment manager, as applicable, of (i) Two Sigma Equity Portfolio, LLC ("Equity"), Two Sigma Spectrum Portfolio, LLC ("Spectrum"), Two Sigma Futures Portfolio, LLC ("Futures"), Two Sigma Horizon Portfolio, LLC ("Horizon"), Two Sigma Blazar Portfolio, LLC ("Blazar"), Two Sigma Navigator Portfolio, LLC ("Navigator") and Two Sigma Equity Spectrum Portfolio, LLC ("Equity Spectrum"), seven investment entities that are managed by Investments, each of which may be deemed to be an "other manager" for purposes of this Form 13F report and (ii) Two Sigma Galileo Portfolio, LLC ("Galileo") and Two Sigma Pioneer Portfolio, LLC ("Pioneer") two investment entities that are managed by Investments and that each may not presently be deemed to be an "other manager" for purposes of this Form 13F report. Investments, rather than Equity, Spectrum, Futures, Horizon, Blazar, Navigator, Equity Spectrum, Galileo or Pioneer exercises sole investment discretion and voting authority over the securities held in the various accounts of Equity, Spectrum, Futures, Horizon, Blazar, Navigator, Equity Spectrum, Galileo and Pioneer.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Steve H. Metzger</name>
      <title>General Counsel</title>
      <phone>212-625-5700</phone>
      <signature>/s/ Steve H. Metzger</signature>
      <city>New York</city>
      <stateOrCountry>NY</stateOrCountry>
      <signatureDate>11-14-2025</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>7</otherIncludedManagersCount>
      <tableEntryTotal>3628</tableEntryTotal>
      <tableValueTotal>67173960693</tableValueTotal>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <cik>0001280134</cik>
            <form13FFileNumber>028-10704</form13FFileNumber>
            <name>TWO SIGMA EQUITY PORTFOLIO LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <cik>0001316047</cik>
            <form13FFileNumber>028-11144</form13FFileNumber>
            <name>TWO SIGMA SPECTRUM PORTFOLIO, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>3</sequenceNumber>
          <otherManager>
            <cik>0001600096</cik>
            <form13FFileNumber>028-16011</form13FFileNumber>
            <name>Two Sigma Futures Portfolio, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>4</sequenceNumber>
          <otherManager>
            <cik>0001453226</cik>
            <form13FFileNumber>028-15356</form13FFileNumber>
            <name>TWO SIGMA HORIZON PORTFOLIO, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>5</sequenceNumber>
          <otherManager>
            <cik>0001802995</cik>
            <form13FFileNumber>028-20138</form13FFileNumber>
            <name>Two Sigma Equity Spectrum Portfolio, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>6</sequenceNumber>
          <otherManager>
            <cik>0001965609</cik>
            <form13FFileNumber>028-23019</form13FFileNumber>
            <name>Two Sigma Blazar Portfolio, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>7</sequenceNumber>
          <otherManager>
            <cik>0001965593</cik>
            <form13FFileNumber>028-23021</form13FFileNumber>
            <name>Two Sigma Navigator Portfolio, LLC</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
  </formData>
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