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Twin Tree Management Portfolio holdings
AUM
$5.31B
Turnover
52.19%
1-Year Est. Return
55.82%
Twin Tree Management runs private investment funds that follow a relative value strategy, aiming to profit from mispriced volatility and correlation. To do it, the firm trades derivatives such as options, variance swaps, volatility swaps and correlation swaps, along with convertible bonds and structured products. Michael Presley is its principal owner. The firm was formed in 2009.
This Fund
S&P 500
This Quarter Est. Return
+18.43%
1 Year Est. Return
+55.82%
3 Year Est. Return
+175.36%
5 Year Est. Return
+159.83%
10 Year Est. Return
+633.35%
AUM
$5.31B
AUM Growth
+$564M
(+12%)
Cap. Flow
+$113M
Cap. Flow % of AUM
Cap. Flow %
2.12%
Top 10 Holdings %
Top 10 Hldgs %
17.55%
Holding
1,757
New
517
Increased
373
Reduced
410
Closed
400
Avg Time Held
Equity + Options
0.9
years
Top 10 Avg Time Held
Equity + Options
2.7
years
Top 20 Avg Time Held
Equity + Options
1.5
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.1
years
Top 20 Avg Time Held Equity only
0.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$17.2M |
| 2 |
Oracle
ORCL
|
+$12.8M |
| 3 |
Constellation Energy
CEG
|
+$9.8M |
| 4 |
Salesforce
CRM
|
+$8.3M |
| 5 |
Amazon
AMZN
|
+$7.86M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$12.2M |
| 2 |
ServiceNow
NOW
|
+$10.4M |
| 3 |
Marvell Technology
MRVL
|
+$8.27M |
| 4 |
CrowdStrike
CRWD
|
+$7.76M |
| 5 |
Astera Labs
ALAB
|
+$7.76M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 89.98% |
| 2 | Technology | 4.02% |
| 3 | Consumer Discretionary | 1.15% |
| 4 | Financials | 0.88% |
| 5 | Materials | 0.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$816B
| $287M | 5.4% |
384,200
-137,700
| -26% | -$100M |
2013 Q2
52 quarters
|
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$816B
| $227M | 4.28% |
304,200
-23,900
| -7% | -$17.3M |
2013 Q2
52 quarters
|
|
3
CALL
Invesco QQQ Trust
QQQ
$483B
| $107M | 2.02% |
145,500
-282,200
| -66% | -$194M |
2025 Q4
2 quarters
|
|
4
PUT
ASML
ASML
$646B
| $52.7M | 0.99% |
26,500
+14,600
| +123% | +$23.2M |
2020 Q2
24 quarters
|
|
5
CALL
iShares Russell 2000 ETF
IWM
$76.2B
| $51.1M | 0.96% |
170,200
-77,400
| -31% | -$21.8M |
2024 Q1
9 quarters
|
|
6
CALL
Toronto Dominion Bank
TD
$208B
| $44.9M | 0.85% |
370,100
+127,300
| +52% | +$13.9M |
2025 Q4
2 quarters
|
|
7
PUT
Microsoft
MSFT
$3.94T
| $44.1M | 0.83% |
118,100
+28,400
| +32% | +$11.5M |
2026 Q1
1 quarter
|
|
8
PUT
Arm
ARM
$244B
| $40.4M | 0.76% |
113,800
-59,000
| -34% | -$15.7M |
2024 Q3
7 quarters
|
|
9
PUT
State Street Energy Select Sector SPDR ETF
XLE
$45.5B
| $38.9M | 0.73% |
732,300
+701,500
| +2,278% | +$40.1M |
2025 Q4
2 quarters
|
|
|
10
PUT
Amazon
AMZN
$2.63T
| $38.9M | 0.73% |
163,100
+130,500
| +400% | +$32.8M |
2025 Q4
2 quarters
|
|
11
PUT
Alphabet (Google) Class A
GOOGL
$3.47T
| $38.6M | 0.73% |
108,000
+82,100
| +317% | +$29.6M |
2015 Q4
42 quarters
|
|
12
CALL
Apple
AAPL
$5.09T
| $38M | 0.72% |
131,400
-8,300
| -6% | -$2.37M |
2022 Q3
15 quarters
|
|
13
CALL
Cisco
CSCO
$428B
| $36.4M | 0.68% |
309,700
-509,000
| -62% | -$53.2M |
2013 Q2
52 quarters
|
|
14
CALL
VanEck Semiconductor ETF
SMH
$70.2B
| $36.3M | 0.68% |
+55,300
| New | +$30.2M |
2026 Q2
0 quarters
|
|
15
PUT
Costco
COST
$441B
| $33.1M | 0.62% |
35,400
+15,600
| +79% | +$15.5M |
2026 Q1
1 quarter
|
|
16
PUT
IBM
IBM
$244B
| $33M | 0.62% |
117,500
+74,700
| +175% | +$18.8M |
2024 Q2
8 quarters
|
|
17
PUT
Caterpillar
CAT
$298B
| $31.2M | 0.59% |
29,300
+25,000
| +581% | +$22M |
2025 Q1
5 quarters
|
|
18
PUT
iShares Silver Trust
SLV
$25.4B
| $29.7M | 0.56% |
555,500
+39,000
| +8% | +$2.59M |
2017 Q3
35 quarters
|
|
|
19
PUT
Micron Technology
MU
$1.06T
| $29.4M | 0.55% |
25,500
-41,400
| -62% | -$31M |
2023 Q2
12 quarters
|
|
20
CALL
AT&T
T
$141B
| $28.9M | 0.54% |
1,395,400
+1,360,600
| +3,910% | +$33.8M |
2025 Q3
3 quarters
|
|
21
PUT
SPDR Gold Trust
GLD
$135B
| $27M | 0.51% |
73,300
-106,500
| -59% | -$44.1M |
2016 Q4
38 quarters
|
|
|
22
CALL
SPDR Gold Trust
GLD
$135B
| $24.4M | 0.46% |
66,200
+30,300
| +84% | +$12.6M |
2016 Q4
38 quarters
|
|
23
PUT
Boeing
BA
$137B
| $24.1M | 0.45% |
111,300
+107,300
| +2,683% | +$23.9M |
2018 Q2
32 quarters
|
|
|
24
PUT
Netflix
NFLX
$258B
| $23.6M | 0.44% |
330,400
+213,700
| +183% | +$18.8M |
2022 Q1
17 quarters
|
|
25
PUT
Broadcom
AVGO
$1.65T
| $23.4M | 0.44% |
61,900
+10,900
| +21% | +$4.37M |
2023 Q2
12 quarters
|
|
Similar funds
MA
Twin Tree Management's Q2 2026 Portfolio in Review
As of Q2 2026, Twin Tree Management held 1,757 positions worth $5.31B, up 12% from $4.75B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Twin Tree Management's Q2 2026 filing shows 517 new, 373 increased, 410 reduced and 400 closed positions. Its largest new stake was Constellation Energy: 34,632 shares worth $8.6M. The largest sale was Micron Technology, an estimated $12.2M.
By sector, the portfolio is most concentrated in Miscellaneous at 90% of assets, down from 91% a quarter earlier, followed by Technology and Consumer Discretionary.
- Twin Tree Management's largest Q2 2026 buy was Constellation Energy: 34,632 shares worth $8.6M.
- Twin Tree Management added most to Netflix in Q2 2026, an estimated $17.2M increase.
- Twin Tree Management's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $12.2M.
- Twin Tree Management fully exited ServiceNow in Q2 2026, selling an estimated $10.4M.
- Twin Tree Management's ten largest holdings make up 18% of its $5.31B portfolio in Q2 2026.
- Twin Tree Management opened 517 new positions and closed 400 in Q2 2026.
- Twin Tree Management's portfolio value rose 12% quarter-over-quarter to $5.31B.
Based on Twin Tree Management's 13F filing for Q2 2026, filed 12 Aug 2026.