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Twin Tree Management

Twin Tree Management Portfolio holdings

AUM $4.75B
1-Year Est. Return 58.16%
This Fund
S&P 500
This Quarter Est. Return
+17.18%
1 Year Est. Return
+58.16%
3 Year Est. Return
+159.37%
5 Year Est. Return
+138.93%
10 Year Est. Return
+547.41%
AUM
$24B
AUM Growth
-$29.6B
Cap. Flow
-$32.8B
Cap. Flow %
-136.44%
Top 10 Hldgs %
23.31%
Holding
1,913
New
364
Increased
291
Reduced
710
Closed
500

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$56.5M
2
STX icon
Seagate
STX
+$29.2M
3
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$26.9M
4
COIN icon
Coinbase
COIN
+$24.8M
5
KLAC icon
KLA
KLAC
+$22M

Top Sells

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$72.1M
2
PWR icon
Quanta Services
PWR
+$69.9M
3
IGV icon
iShares Expanded Tech-Software Sector ETF
IGV
+$59.6M
4
SMH icon
VanEck Semiconductor ETF
SMH
+$58M
5
XLK icon
State Street Technology Select Sector SPDR ETF
XLK
+$56.5M

Sector Composition

Rank Sector Weight
1 Technology 1.97%
2 Consumer Discretionary 1.04%
3 Financials 0.94%
4 Industrials 0.8%
5 Materials 0.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XLU icon
276
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$22.8B
$20.3M 0.08%
465,000
-1,993,400
-81% -$84.3M
RPM icon
277
CALL
RPM International
RPM
$13.7B
$20.3M 0.08%
+172,000
New +$20.6M
BA icon
278
PUT
Boeing
BA
$171B
$20.3M 0.08%
93,900
-210,800
-69% -$47.5M
NVDA icon
279
CALL
NVIDIA
NVDA
$4.86T
$20.1M 0.08%
107,800
-477,700
-82% -$83.3M
WDC icon
280
Western Digital
WDC
$188B
$20.1M 0.08%
167,202
+103,603
+163% +$8.47M
KR icon
281
PUT
Kroger
KR
$35.4B
$20M 0.08%
+296,600
New +$20.7M
TTD icon
282
Trade Desk
TTD
$8.48B
$19.9M 0.08%
405,892
-1,608
-0.4% -$102K
DAL icon
283
PUT
Delta Air Lines
DAL
$57.5B
$19.8M 0.08%
349,600
+17,600
+5% +$1M
LUV icon
284
CALL
Southwest Airlines
LUV
$22B
$19.8M 0.08%
619,300
+472,500
+322% +$15.5M
BMO icon
285
CALL
Bank of Montreal
BMO
$126B
$19.8M 0.08%
151,700
+92,800
+158% +$11M
TMO icon
286
PUT
Thermo Fisher Scientific
TMO
$213B
$19.7M 0.08%
40,600
+10,500
+35% +$4.89M
MTB icon
287
CALL
M&T Bank
MTB
$35.7B
$19.6M 0.08%
99,300
+5,000
+5% +$981K
FDX icon
288
CALL
FedEx
FDX
$72.7B
$19.6M 0.08%
83,200
– –
KGC icon
289
Kinross Gold
KGC
$27.4B
$19.6M 0.08%
787,017
-169,496
-18% -$3.26M
XEL icon
290
CALL
Xcel Energy
XEL
$48.8B
$19.5M 0.08%
+242,400
New +$17.5M
APPF icon
291
CALL
AppFolio
APPF
$6.38B
$19.5M 0.08%
+70,900
New +$19.2M
GILD icon
292
PUT
Gilead Sciences
GILD
$162B
$19.5M 0.08%
175,500
+111,900
+176% +$12.7M
KNSL icon
293
CALL
Kinsale Capital Group
KNSL
$8.12B
$19.3M 0.08%
45,500
-8,500
-16% -$3.85M
ROST icon
294
CALL
Ross Stores
ROST
$80.5B
$19.3M 0.08%
126,900
-511,700
-80% -$73.1M
TSM icon
295
TSMC
TSM
$2.1T
$19.3M 0.08%
69,028
-39,658
-36% -$9.7M
CIEN icon
296
Ciena
CIEN
$53.4B
$19.2M 0.08%
131,506
+34,466
+36% +$3.51M
BRK.B icon
297
PUT
Berkshire Hathaway Class B
BRK.B
$1.1T
$19.1M 0.08%
38,000
-394,400
-91% -$191M
LOPE icon
298
CALL
Grand Canyon Education
LOPE
$3.79B
$19.1M 0.08%
87,000
-14,500
-14% -$2.79M
PHG icon
299
PUT
Philips
PHG
$25.7B
$19.1M 0.08%
725,886
– –
OKTA icon
300
PUT
Okta
OKTA
$24.7B
$18.9M 0.08%
206,600
-270,400
-57% -$25.2M
10 11
12
13 14

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SAMU
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RC
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VDI
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WAM
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MP
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KCM
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CA
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Twin Tree Management's Q3 2025 Portfolio in Review

As of Q3 2025, Twin Tree Management held 1,913 positions worth $24B, down 55% from $53.7B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Twin Tree Management withdrew a net $32.8B in Q3 2025, closing 500 positions and reducing 710 holdings. Its most notable exit was Hewlett Packard, an estimated $46.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 2% of assets, up from 1.7% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Twin Tree Management opened a new position in State Street SPDR S&P 500 ETF Trust worth $58.7M.

  • Twin Tree Management's largest Q3 2025 buy was State Street SPDR S&P 500 ETF Trust: 88,100 shares worth $58.7M.
  • Twin Tree Management added most to State Street SPDR S&P Biotech ETF in Q3 2025, an estimated $26.9M increase.
  • Twin Tree Management's biggest Q3 2025 reduction was Vanguard S&P 500 ETF, cutting an estimated $72.1M.
  • Twin Tree Management fully exited Hewlett Packard in Q3 2025, selling an estimated $46.5M.
  • Twin Tree Management's ten largest holdings make up 23% of its $24B portfolio in Q3 2025.
  • Twin Tree Management opened 364 new positions and closed 500 in Q3 2025.
  • Twin Tree Management's portfolio value fell 55% quarter-over-quarter to $24B.

Based on Twin Tree Management's 13F filing for Q3 2025, filed 13 Nov 2025.