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Twin Tree Management Portfolio holdings
AUM
$4.87B
Turnover
52.26%
1-Year Est. Return
35.25%
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
+1.7%
1 Year Est. Return
+35.25%
3 Year Est. Return
+188.88%
5 Year Est. Return
+172.36%
10 Year Est. Return
+582.75%
AUM
$4.87B
AUM Growth
-$440M
(-8.3%)
Cap. Flow
-$92.6M
Cap. Flow % of AUM
Cap. Flow %
-1.9%
Top 10 Holdings %
Top 10 Hldgs %
19.68%
Holding
1,812
New
455
Increased
359
Reduced
454
Closed
492
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 |
State Street Utilities Select Sector SPDR ETF
XLU
|
+$11.2M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$10.1M |
| 3 |
IBM
IBM
|
+$8.61M |
| 4 |
Marathon Petroleum
MPC
|
+$7.46M |
| 5 |
Novo Nordisk
NVO
|
+$5.94M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$19.5M |
| 2 |
VanEck Gold Miners ETF
GDX
|
+$9.03M |
| 3 |
iShares Gold Trust
IAU
|
+$9.02M |
| 4 |
Salesforce
CRM
|
+$8.75M |
| 5 |
Palantir
PLTR
|
+$8.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 89.81% |
| 2 | Technology | 3.75% |
| 3 | Consumer Discretionary | 1.26% |
| 4 | Industrials | 1.09% |
| 5 | Healthcare | 1.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
76
PUT
VanEck Junior Gold Miners ETF
GDXJ
$7.85B
| $11.4M | 0.23% |
99,700
+33,900
| +52% | +$3.85M |
2026 Q2
1 quarter
|
|
77
PUT
Everpure Inc
P
$34B
| $11.2M | 0.23% |
86,000
+19,500
| +29% | +$1.84M |
2024 Q4
7 quarters
|
|
78
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$15.1B
| $11.2M | 0.23% |
139,200
-2,300
| -2% | -$194K |
2026 Q1
2 quarters
|
|
79
CALL
Corpay
CPAY
$29.4B
| $11.1M | 0.23% |
+28,600
| New | +$11.2M |
2026 Q3
0 quarters
|
|
80
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$3.58B
| $11M | 0.23% |
106,600
+14,700
| +16% | +$1.61M |
2026 Q2
1 quarter
|
|
81
CALL
Texas Roadhouse
TXRH
$12.3B
| $10.7M | 0.22% |
68,700
+39,600
| +136% | +$7.56M |
2026 Q2
1 quarter
|
|
82
PUT
NVIDIA
NVDA
$4.08T
| $10.5M | 0.22% |
45,900
-52,400
| -53% | -$11.2M |
2016 Q3
40 quarters
|
|
83
CALL
Motorola Solutions
MSI
$87.2B
| $10.4M | 0.21% |
23,400
-6,600
| -22% | -$2.97M |
2025 Q3
4 quarters
|
|
84
PUT
Strategy Inc
MSTR
$51.2B
| $10.3M | 0.21% |
67,400
+28,800
| +75% | +$3.33M |
2023 Q3
12 quarters
|
|
85
CALL
Verizon
VZ
$192B
| $10.2M | 0.21% |
222,600
+105,200
| +90% | +$4.95M |
2023 Q2
13 quarters
|
|
86
CALL
T-Mobile US
TMUS
$179B
| $10.2M | 0.21% |
+62,500
| New | +$11.2M |
2026 Q3
0 quarters
|
|
87
CALL
M&T Bank
MTB
$31.7B
| $10.1M | 0.21% |
46,300
+39,200
| +552% | +$9.43M |
2025 Q2
5 quarters
|
|
88
CALL
Cencora
COR
$66.5B
| $10.1M | 0.21% |
+33,500
| New | +$10.5M |
2026 Q3
0 quarters
|
|
89
CALL
Airbnb
ABNB
$110B
| $10M | 0.21% |
+62,400
| New | +$10.2M |
2026 Q3
0 quarters
|
|
90
CALL
Sherwin-Williams
SHW
$85.8B
| $10M | 0.21% |
+30,900
| New | +$10.4M |
2026 Q3
0 quarters
|
|
91
PUT
Cisco
CSCO
$387B
| $10M | 0.2% |
92,700
+76,300
| +465% | +$8.6M |
2025 Q1
6 quarters
|
|
|
92
Berkshire Hathaway Class B
BRK.B
$1.24T
| $10M | 0.2% |
+20,004
| New | +$10.1M |
2026 Q3
0 quarters
|
|
93
CALL
Vulcan Materials
VMC
$36.9B
| $9.8M | 0.2% |
40,100
+25,600
| +177% | +$6.96M |
2026 Q1
2 quarters
|
|
94
CALL
DaVita
DVA
$11.3B
| $9.8M | 0.2% |
55,900
+17,900
| +47% | +$3.59M |
2023 Q3
12 quarters
|
|
95
PUT
Markel Group
MKL
$24.1B
| $9.8M | 0.2% |
+5,700
| New | +$10.6M |
2026 Q3
0 quarters
|
|
96
CALL
Solventum
SOLV
$15.3B
| $9.7M | 0.2% |
110,000
-30,200
| -22% | -$2.58M |
2025 Q2
5 quarters
|
|
97
PUT
Republic Services
RSG
$75.4B
| $9.7M | 0.2% |
46,200
-36,500
| -44% | -$7.94M |
2026 Q2
1 quarter
|
|
98
PUT
Boeing
BA
$137B
| $9.6M | 0.2% |
51,500
-59,800
| -54% | -$12.8M |
2018 Q2
33 quarters
|
|
99
CALL
ING
ING
$94.7B
| $9.6M | 0.2% |
269,600
-1,400
| -0.5% | -$48.8K |
2026 Q2
1 quarter
|
|
100
PUT
Nike
NKE
$57.4B
| $9.5M | 0.2% |
268,800
+65,100
| +32% | +$2.61M |
2013 Q3
52 quarters
|
|
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Twin Tree Management's Q3 2026 Portfolio in Review
As of Q3 2026, Twin Tree Management held 1,812 positions worth $4.87B, down 8.3% from $5.31B the previous quarter. Its ten largest holdings account for 20% of the portfolio.
Twin Tree Management's Q3 2026 filing shows 455 new, 359 increased, 454 reduced and 492 closed positions. Its largest new stake was Berkshire Hathaway Class B: 20,004 shares worth $10M. The largest sale was Microsoft, an estimated $19.5M.
By sector, the portfolio is most concentrated in Miscellaneous at 90% of assets, down from 90% a quarter earlier, followed by Technology and Consumer Discretionary.
- Twin Tree Management's largest Q3 2026 buy was Berkshire Hathaway Class B: 20,004 shares worth $10M.
- Twin Tree Management added most to State Street Utilities Select Sector SPDR ETF in Q3 2026, an estimated $11.2M increase.
- Twin Tree Management's biggest Q3 2026 reduction was VanEck Gold Miners ETF, cutting an estimated $9.03M.
- Twin Tree Management fully exited Microsoft in Q3 2026, selling an estimated $19.5M.
- Twin Tree Management's ten largest holdings make up 20% of its $4.87B portfolio in Q3 2026.
- Twin Tree Management opened 455 new positions and closed 492 in Q3 2026.
- Twin Tree Management's portfolio value fell 8.3% quarter-over-quarter to $4.87B.
Based on Twin Tree Management's 13F filing for Q3 2026, filed 10 Nov 2026.