The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

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Report for the Calendar Year or Quarter Ended:03-31-2021
Check here if Amendment  Amendment Number:
This Amendment (Check only one.):  is a restatement.
  adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name:TWO SIGMA ADVISERS, LP
Address:100 Avenue of the Americas
16th Floor
New York, NY  10013
Form 13F File Number:028-14367

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:Matthew B. Siano, Esq.
Title:General Counsel
Phone:212-625-5700
Signature, Place, and Date of Signing:
/s/ Matthew B. Siano, Esq.New YorkNY05-17-2021
[Signature][City, State][Date]
This Form 13F holdings report is being filed on behalf of Two Sigma Advisers, LP ("Advisers"). Advisers serves as the sole manager or investment manager, as applicable, of (i) Two Sigma U.S. All Cap Core Equity Fund, LP ("All Cap"), Two Sigma Absolute Return Portfolio, LLC ("Absolute Return"), Two Sigma Active Extension U.S. All Cap Equity Portfolio, LLC ("Active Extension All Cap"), Two Sigma Active Extension U.S. Small Cap Equity Fund, LP ("Active Extension Small Cap"), Two Sigma Macro Portfolio, LLC ("Macro"), Two Sigma World Core Fund, LP ("World Core") and Two Sigma Equity Risk Premia Portfolio, LLC ("Equity Risk Premia"), seven investment entities that are managed by Advisers, each of which may be deemed to be an "other manager" for purposes of this Form 13F report, (ii) Two Sigma International Core Portfolio, LLC ("International Core"), an investment entity that is managed by Advisers and that may not presently be deemed to be an "other manager" for purposes of this Form 13F report and (iii) one or more separately managed accounts and subadvised accounts (collectively, the "Managed Accounts"), each of which may not presently be deemed to be an "other manager" for purposes of this 13F report. Advisers, rather than All Cap, Absolute Return, Active Extension All Cap, Active Extension Small Cap, Macro, World Core, Equity Risk Premia, International Core or the Managed Accounts, exercises sole investment discretion and voting authority over the securities held in the various accounts of All Cap, Absolute Return, Active Extension All Cap, Active Extension Small Cap, Macro, World Core, Equity Risk Premia, International Core and in the Managed Accounts.
Report Type (Check only one.):
X13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
  13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
  13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers:7
Form 13F Information Table Entry Total:2,526
Form 13F Information Table Value Total:36,399,119
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No.Form 13F File NumberName
1028-14405Two Sigma U.S. All Cap Core Equity Fund, LP
2028-15367TWO SIGMA ABSOLUTE RETURN PORTFOLIO, LLC
3028-15404TWO SIGMA ACTIVE EXTENSION U.S. ALL CAP EQUITY PORTFOLIO, LLC
4028-15364Two Sigma Active Extension U.S. Small Cap Equity Fund, LP
5028-16751Two Sigma Macro Portfolio, LLC
6028-17350Two Sigma World Core Fund, LP
7028-17346Two Sigma Equity Risk Premia Portfolio, LLC