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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 | |
|---|---|---|---|---|---|---|---|
126
CALL
Honda
HMC
$43.5B
| $8.41M | 0.17% |
266,000
+6,300
| +2% | +$194K |
2026 Q2
1 quarter
|
|
127
CALL
Healthpeak Properties
DOC
$13.9B
| $8.38M | 0.17% |
419,500
+4,400
| +1% | +$93.4K |
2024 Q2
9 quarters
|
|
128
PUT
Amrize Ltd
AMRZ
$21.7B
| $8.34M | 0.17% |
223,100
+106,700
| +92% | +$4.87M |
2026 Q2
1 quarter
|
|
|
129
IBM
IBM
$231B
| $8.32M | 0.17% |
37,848
+36,261
| +2,285% | +$8.61M |
2025 Q3
4 quarters
|
|
130
PUT
KLA
KLAC
$205B
| $8.21M | 0.17% |
+42,100
| New | +$8.26M |
2026 Q3
0 quarters
|
|
131
PUT
Tempus AI
TEM
$13.8B
| $8.21M | 0.17% |
100,200
+27,800
| +38% | +$1.68M |
2025 Q2
5 quarters
|
|
132
PUT
Bloom Energy
BE
$59.7B
| $8.17M | 0.17% |
+29,500
| New | +$6.97M |
2026 Q3
0 quarters
|
|
133
CALL
Schwab US Dividend Equity ETF
SCHD
$123B
| $8.17M | 0.17% |
251,000
+112,300
| +81% | +$3.79M |
2026 Q2
1 quarter
|
|
134
iShares Silver Trust
SLV
$23.8B
| $8.16M | 0.17% |
149,663
+52,359
| +54% | +$2.97M |
2025 Q2
5 quarters
|
|
135
Cisco
CSCO
$402B
| $8.1M | 0.17% |
75,285
+51,605
| +218% | +$5.81M |
2025 Q3
4 quarters
|
|
136
CALL
Kinsale Capital Group
KNSL
$8.78B
| $8.1M | 0.17% |
25,100
+20,800
| +484% | +$7.47M |
2025 Q1
6 quarters
|
|
137
CALL
American Tower
AMT
$88B
| $8.09M | 0.17% |
49,400
-7,800
| -14% | -$1.34M |
2026 Q2
1 quarter
|
|
138
PUT
Credo Technology Group
CRDO
$26.3B
| $8.06M | 0.17% |
41,400
+30,000
| +263% | +$6.46M |
2024 Q2
9 quarters
|
|
139
PUT
Chipotle Mexican Grill
CMG
$44.5B
| $8.06M | 0.17% |
252,400
-194,400
| -44% | -$6.74M |
2024 Q4
7 quarters
|
|
140
CALL
Bank of America
BAC
$349B
| $8.03M | 0.16% |
147,500
-27,100
| -16% | -$1.65M |
2026 Q2
1 quarter
|
|
141
PUT
SoFi Technologies
SOFI
$20.3B
| $8.02M | 0.16% |
+510,300
| New | +$8.98M |
2026 Q3
0 quarters
|
|
142
PUT
Amgen
AMGN
$253B
| $7.92M | 0.16% |
+18,800
| New | +$7.49M |
2026 Q3
0 quarters
|
|
|
143
CALL
iShares Gold Trust
IAU
$57.5B
| $7.88M | 0.16% |
100,900
-157,900
| -61% | -$12.7M |
2023 Q1
14 quarters
|
|
144
PUT
Casey's General Stores
CASY
$26.1B
| $7.54M | 0.15% |
12,400
+10,700
| +629% | +$8.25M |
2025 Q4
3 quarters
|
|
145
PUT
Coinbase
COIN
$34.6B
| $7.48M | 0.15% |
40,100
+4,900
| +14% | +$832K |
2023 Q2
13 quarters
|
|
146
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$51B
| $7.44M | 0.15% |
+44,200
| New | +$7.37M |
2026 Q3
0 quarters
|
|
147
CALL
Zions Bancorporation
ZION
$9.6B
| $7.44M | 0.15% |
118,700
+33,300
| +39% | +$2.29M |
2026 Q2
1 quarter
|
|
148
PUT
Alcon
ALC
$34.5B
| $7.43M | 0.15% |
114,700
| – | – |
2026 Q1
2 quarters
|
|
149
PUT
Waste Management
WM
$97.1B
| $7.42M | 0.15% |
36,400
+34,000
| +1,417% | +$7.62M |
2025 Q4
3 quarters
|
|
|
150
PUT
Microsoft
MSFT
$3.88T
| $7.39M | 0.15% |
14,400
-103,700
| -88% | -$48M |
2026 Q1
2 quarters
|
|
Similar funds
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.