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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
ULTA icon
1851
Ulta Beauty
ULTA
$21.8B
– –
-10,738
Closed -$5.5M
UNH icon
1852
CALL
UnitedHealth
UNH
$382B
– –
-153,200
Closed -$47.8M
UPS icon
1853
United Parcel Service
UPS
$88.9B
– –
-121,072
Closed -$11M
UPST icon
1854
CALL
Upstart Holdings
UPST
$2.55B
– –
-61,700
Closed -$3.99M
V icon
1855
Visa
V
$701B
– –
-3,980
Closed -$1.38M
VEEV icon
1856
Veeva Systems
VEEV
$33.8B
– –
-7,558
Closed -$2.13M
VLO icon
1857
CALL
Valero Energy
VLO
$89.5B
– –
-10,200
Closed -$1.37M
VMC icon
1858
Vulcan Materials
VMC
$36.8B
– –
-1,303
Closed -$340K
VMI icon
1859
PUT
Valmont Industries
VMI
$8.86B
– –
-9,400
Closed -$3.07M
VNO icon
1860
PUT
Vornado Realty Trust
VNO
$7.65B
– –
-21,800
Closed -$834K
VRSN icon
1861
CALL
VeriSign
VRSN
$26.3B
– –
-28,300
Closed -$8.17M
VT icon
1862
Vanguard Total World Stock ETF
VT
$75.3B
– –
-6,132
Closed -$788K
VTV icon
1863
CALL
Vanguard Value ETF
VTV
$188B
– –
-12,400
Closed -$2.19M
VTWO icon
1864
Vanguard Russell 2000 ETF
VTWO
$17.2B
– –
-42,599
Closed -$3.72M
VUG icon
1865
PUT
Vanguard Growth ETF
VUG
$212B
– –
-58,800
Closed -$4.3M
VWO icon
1866
Vanguard FTSE Emerging Markets ETF
VWO
$117B
– –
-276,131
Closed -$14.2M
VZ icon
1867
PUT
Verizon
VZ
$197B
– –
-872,100
Closed -$37.7M
WAB icon
1868
Wabtec
WAB
$49.3B
– –
-4
Closed -$837
WAB icon
1869
PUT
Wabtec
WAB
$49.3B
– –
-60,800
Closed -$12.7M
WAL icon
1870
Western Alliance Bancorporation
WAL
$8.81B
– –
-1,994
Closed -$169K
WAL icon
1871
PUT
Western Alliance Bancorporation
WAL
$8.81B
– –
-37,400
Closed -$2.92M
WBS icon
1872
CALL
Webster Financial
WBS
$12.3B
– –
-40,300
Closed -$2.2M
WFC icon
1873
Wells Fargo
WFC
$254B
– –
-91,314
Closed -$7.4M
WFC icon
1874
PUT
Wells Fargo
WFC
$254B
– –
-476,400
Closed -$38.2M
WMB icon
1875
Williams Companies
WMB
$85.8B
– –
-250,418
Closed -$14.7M
73 74
75
76 77

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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.