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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
TEAM icon
176
PUT
Atlassian
TEAM
$25.6B
$31.3M 0.13%
195,700
+24,700
+14% +$4.47M
WDAY icon
177
CALL
Workday
WDAY
$39.6B
$31.2M 0.13%
129,800
-186,100
-59% -$43M
STWD icon
178
CALL
Starwood Property Trust
STWD
$5.92B
$31.2M 0.13%
1,609,900
-728,900
-31% -$14.7M
ZM icon
179
CALL
Zoom
ZM
$28.2B
$31M 0.13%
375,600
-48,200
-11% -$3.76M
MDB icon
180
PUT
MongoDB
MDB
$27.1B
$30.9M 0.13%
99,500
+54,200
+120% +$13.9M
EFA icon
181
PUT
iShares MSCI EAFE ETF
EFA
$78B
$30.8M 0.13%
329,500
-595,100
-64% -$54.1M
ITA icon
182
CALL
iShares US Aerospace & Defense ETF
ITA
$14.2B
$30.5M 0.13%
145,900
-158,600
-52% -$31.2M
FSLR icon
183
PUT
First Solar
FSLR
$22.7B
$30.5M 0.13%
138,200
-16,200
-10% -$3.11M
SCHD icon
184
CALL
Schwab US Dividend Equity ETF
SCHD
$103B
$30.5M 0.13%
1,115,500
+243,100
+28% +$6.63M
TXN icon
185
CALL
Texas Instruments
TXN
$252B
$30.3M 0.13%
164,700
-414,000
-72% -$80.9M
NKE icon
186
CALL
Nike
NKE
$61.9B
$30.2M 0.13%
433,800
-304,500
-41% -$22.7M
PANW icon
187
CALL
Palo Alto Networks
PANW
$270B
$30M 0.12%
147,400
-91,200
-38% -$17.5M
CVX icon
188
CALL
Chevron
CVX
$392B
$30M 0.12%
193,200
-352,100
-65% -$54.5M
WDAY icon
189
PUT
Workday
WDAY
$39.6B
$29.9M 0.12%
124,000
-452,900
-79% -$105M
SJM icon
190
CALL
J.M. Smucker
SJM
$12.7B
$29.8M 0.12%
274,500
-153,700
-36% -$16.7M
SMH icon
191
VanEck Semiconductor ETF
SMH
$65.2B
$29.4M 0.12%
90,212
-196,070
-68% -$58M
EXPE icon
192
CALL
Expedia Group
EXPE
$35.4B
$29.3M 0.12%
137,200
-49,000
-26% -$9.84M
FTNT icon
193
PUT
Fortinet
FTNT
$119B
$29.3M 0.12%
348,700
+150,200
+76% +$13.4M
KKR icon
194
PUT
KKR & Co
KKR
$91.1B
$29.3M 0.12%
225,600
+51,000
+29% +$7.24M
NEM icon
195
PUT
Newmont
NEM
$98.7B
$29.3M 0.12%
347,200
-2,102,400
-86% -$147M
MS icon
196
Morgan Stanley
MS
$331B
$29M 0.12%
182,146
+72,397
+66% +$10.7M
DUK icon
197
CALL
Duke Energy
DUK
$97.8B
$28.9M 0.12%
233,700
-784,700
-77% -$95.2M
CNI icon
198
PUT
Canadian National Railway
CNI
$76.9B
$28.8M 0.12%
+305,400
New +$29.5M
TMO icon
199
Thermo Fisher Scientific
TMO
$213B
$28.6M 0.12%
59,013
+29,334
+99% +$13.7M
NEU icon
200
CALL
NewMarket
NEU
$7.82B
$28.6M 0.12%
34,500
-3,300
-9% -$2.54M
6 7
8
9 10

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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.