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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
AVB icon
1451
AvalonBay Communities
AVB
$27.5B
– –
-12,744
Closed -$2.59M
AWI icon
1452
CALL
Armstrong World Industries
AWI
$7.37B
– –
-35,100
Closed -$5.7M
AWK icon
1453
CALL
American Water Works
AWK
$27B
– –
-336,700
Closed -$46.8M
AWK icon
1454
PUT
American Water Works
AWK
$27B
– –
-127,400
Closed -$17.7M
AXP icon
1455
CALL
American Express
AXP
$224B
– –
-41,600
Closed -$13.3M
AXS icon
1456
AXIS Capital
AXS
$7.73B
– –
-2,112
Closed -$219K
AXTA icon
1457
PUT
Axalta
AXTA
$7.45B
– –
-100
Closed -$2.97K
AZN icon
1458
CALL
AstraZeneca
AZN
$269B
– –
-242,150
Closed -$33.8M
BAC icon
1459
PUT
Bank of America
BAC
$429B
– –
-242,000
Closed -$11.5M
BALL icon
1460
Ball Corp
BALL
$17.5B
– –
-153,047
Closed -$8.27M
BBWI icon
1461
CALL
Bath & Body Works
BBWI
$3.97B
– –
-17,800
Closed -$533K
BCE icon
1462
CALL
BCE
BCE
$20.8B
– –
-418,300
Closed -$9.27M
BDX icon
1463
Becton Dickinson
BDX
$46.4B
– –
-22,568
Closed -$4.19M
BF.B icon
1464
Brown-Forman Class B
BF.B
$13.5B
– –
-49,472
Closed -$1.43M
BHP icon
1465
BHP
BHP
$211B
– –
-47,758
Closed -$2.54M
BJ icon
1466
CALL
BJs Wholesale Club
BJ
$12.8B
– –
-53,100
Closed -$5.73M
BNY
1467
CALL
Bank of New York Mellon
BNY
$103B
– –
-5,000
Closed -$456K
BNY
1468
Bank of New York Mellon
BNY
$103B
– –
-169,583
Closed -$17.3M
BKR icon
1469
Baker Hughes
BKR
$58.3B
– –
-48,378
Closed -$2.13M
BLK icon
1470
CALL
Blackrock
BLK
$167B
– –
-800
Closed -$839K
BMI icon
1471
PUT
Badger Meter
BMI
$3.87B
– –
-9,800
Closed -$2.4M
BMO icon
1472
Bank of Montreal
BMO
$123B
– –
-84,623
Closed -$10M
BMRN icon
1473
BioMarin Pharmaceuticals
BMRN
$11.9B
– –
-10,703
Closed -$612K
BMY icon
1474
PUT
Bristol-Myers Squibb
BMY
$129B
– –
-176,200
Closed -$8.16M
BNS icon
1475
Scotiabank
BNS
$105B
– –
-205,851
Closed -$12.1M
57 58
59
60 61

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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.