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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
PAAS icon
651
Pan American Silver
PAAS
$18.2B
$6.73M 0.03%
173,880
+155,909
+868% +$5.01M
WDAY icon
652
Workday
WDAY
$39.4B
$6.7M 0.03%
27,824
-41,525
-60% -$9.6M
EXE
653
PUT
Expand Energy Corp
EXE
$21.6B
$6.68M 0.03%
62,900
-51,700
-45% -$5.19M
NGG icon
654
PUT
National Grid
NGG
$80.5B
$6.68M 0.03%
93,219
-43,415
-32% -$3.04M
SAP icon
655
SAP
SAP
$211B
$6.64M 0.03%
24,833
-30,087
-55% -$8.46M
LMT icon
656
PUT
Lockheed Martin
LMT
$134B
$6.59M 0.03%
13,200
-47,100
-78% -$21.4M
ADC icon
657
CALL
Agree Realty
ADC
$9.33B
$6.56M 0.03%
92,400
+61,100
+195% +$4.43M
DG icon
658
CALL
Dollar General
DG
$28.2B
$6.56M 0.03%
63,500
-312,400
-83% -$34.3M
WAY
659
CALL
Waystar Holding Corp
WAY
$4.07B
$6.51M 0.03%
+171,800
New +$6.37M
BILL icon
660
PUT
BILL Holdings
BILL
$4.51B
$6.51M 0.03%
122,900
-88,300
-42% -$4.1M
DUOL icon
661
Duolingo
DUOL
$6.23B
$6.5M 0.03%
+20,206
New +$6.76M
NFLX icon
662
Netflix
NFLX
$298B
$6.46M 0.03%
+53,910
New +$6.58M
PFSI icon
663
PUT
PennyMac Financial
PFSI
$3.91B
$6.45M 0.03%
52,100
+7,200
+16% +$779K
AOS icon
664
CALL
A.O. Smith
AOS
$8.28B
$6.43M 0.03%
+87,600
New +$6.25M
GRMN
665
PUT
Garmin
GRMN
$56.9B
$6.4M 0.03%
26,000
-7,300
-22% -$1.68M
EPAM icon
666
PUT
EPAM Systems
EPAM
$5.43B
$6.39M 0.03%
+42,400
New +$6.96M
OKTA icon
667
CALL
Okta
OKTA
$24.4B
$6.39M 0.03%
69,700
-123,500
-64% -$11.5M
AN icon
668
CALL
AutoNation
AN
$6.88B
$6.39M 0.03%
29,200
– –
SIRI icon
669
PUT
SiriusXM
SIRI
$10B
$6.38M 0.03%
274,100
+29,100
+12% +$673K
SOLV icon
670
PUT
Solventum
SOLV
$14.8B
$6.37M 0.03%
87,200
– –
ULTA icon
671
PUT
Ulta Beauty
ULTA
$22B
$6.34M 0.03%
11,600
-147,800
-93% -$75.7M
WST icon
672
PUT
West Pharmaceutical
WST
$23.9B
$6.32M 0.03%
+24,100
New +$5.86M
VST icon
673
Vistra
VST
$49.8B
$6.29M 0.03%
32,083
-193,826
-86% -$38.4M
SHAK icon
674
CALL
Shake Shack
SHAK
$2.55B
$6.26M 0.03%
66,900
-96,500
-59% -$11.1M
MOD icon
675
PUT
Modine Manufacturing
MOD
$10.7B
$6.24M 0.03%
+43,900
New +$5.59M
25 26
27
28 29

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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.