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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
+6.47%
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
$11.5B
AUM Growth
-$12.6B
Cap. Flow
-$13.4B
Cap. Flow %
-116.91%
Top 10 Hldgs %
19.57%
Holding
1,782
New
369
Increased
257
Reduced
664
Closed
431

Top Buys

Rank Stock Value
1
JNJ icon
Johnson & Johnson
JNJ
+$17.4M
2
BMY icon
Bristol-Myers Squibb
BMY
+$17.2M
3
COIN icon
Coinbase
COIN
+$16.1M
4
ACN icon
Accenture
ACN
+$12.6M
5
XYZ
Block Inc
XYZ
+$11.4M

Top Sells

Rank Stock Value
1
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$76M
2
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$50.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$44.5M
4
STX icon
Seagate
STX
+$44.4M
5
SOFI icon
SoFi Technologies
SOFI
+$34.8M

Sector Composition

Rank Sector Weight
1 Technology 2.69%
2 Consumer Discretionary 1%
3 Materials 0.99%
4 Financials 0.76%
5 Healthcare 0.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
1
PUT
SPDR Gold Trust
GLD
$130B
$681M 5.94%
1,718,200
-2,423,600
-59% -$926M
SPY icon
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$776B
$506M 4.42%
742,200
-1,378,100
-65% -$931M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$776B
$309M 2.7%
453,000
-820,400
-64% -$554M
IAU icon
4
PUT
iShares Gold Trust
IAU
$62.8B
$194M 1.69%
2,385,500
-5,804,100
-71% -$454M
MU icon
5
PUT
Micron Technology
MU
$1.12T
$129M 1.13%
453,100
-891,400
-66% -$205M
AMGN icon
6
CALL
Amgen
AMGN
$199B
$100M 0.87%
305,700
-149,800
-33% -$47.5M
GOOGL icon
7
CALL
Alphabet (Google) Class A
GOOGL
$3.9T
$85.4M 0.74%
272,700
-13,900
-5% -$3.97M
UPS icon
8
CALL
United Parcel Service
UPS
$97B
$80.9M 0.71%
815,600
+522,400
+178% +$48.9M
GDX icon
9
CALL
VanEck Gold Miners ETF
GDX
$22.9B
$79.4M 0.69%
925,200
-1,159,100
-56% -$91.6M
AMAT icon
10
PUT
Applied Materials
AMAT
$444B
$78M 0.68%
303,700
-348,400
-53% -$83.5M
JPM icon
11
CALL
JPMorgan Chase
JPM
$924B
$77.7M 0.68%
241,000
+36,200
+18% +$11.2M
JPM icon
12
PUT
JPMorgan Chase
JPM
$924B
$65.2M 0.57%
202,200
+161,900
+402% +$50.1M
CSCO icon
13
CALL
Cisco
CSCO
$445B
$63.8M 0.56%
828,000
+178,200
+27% +$13.2M
TSLA icon
14
PUT
Tesla
TSLA
$1.2T
$61.8M 0.54%
137,500
-337,900
-71% -$150M
GS icon
15
CALL
Goldman Sachs
GS
$317B
$61.2M 0.53%
69,600
-7,900
-10% -$6.45M
AMD icon
16
PUT
Advanced Micro Devices
AMD
$869B
$58M 0.51%
270,800
-970,800
-78% -$218M
O icon
17
CALL
Realty Income
O
$60.3B
$57.1M 0.5%
1,013,600
+427,400
+73% +$24.7M
AAPL icon
18
CALL
Apple
AAPL
$4.71T
$56.2M 0.49%
206,700
-1,041,200
-83% -$280M
SOXX icon
19
PUT
iShares Semiconductor ETF
SOXX
$45.9B
$55.4M 0.48%
183,800
-40,400
-18% -$11.9M
TER icon
20
PUT
Teradyne
TER
$58.2B
$51.7M 0.45%
267,200
+205,400
+332% +$35.2M
TMO icon
21
PUT
Thermo Fisher Scientific
TMO
$213B
$51.2M 0.45%
88,300
+47,700
+117% +$27M
LRCX icon
22
PUT
Lam Research
LRCX
$398B
$50.9M 0.44%
297,600
+43,800
+17% +$6.81M
TSLA icon
23
CALL
Tesla
TSLA
$1.2T
$50.5M 0.44%
112,200
-99,000
-47% -$43.9M
APH icon
24
PUT
Amphenol
APH
$193B
$50.3M 0.44%
372,200
+75,800
+26% +$10.1M
EFA icon
25
CALL
iShares MSCI EAFE ETF
EFA
$76B
$48.7M 0.42%
506,800
-469,100
-48% -$44.5M
1
2 3 4 5

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VDI
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SCB
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WAM
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Twin Tree Management's Q4 2025 Portfolio in Review

As of Q4 2025, Twin Tree Management held 1,782 positions worth $11.5B, down 52% from $24B the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Twin Tree Management withdrew a net $13.4B in Q4 2025, closing 431 positions and reducing 664 holdings. Its most notable exit was VanEck Junior Gold Miners ETF, an estimated $50.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 2.7% of assets, up from 2% a quarter earlier, followed by Consumer Discretionary and Materials.

Against the trend, Twin Tree Management opened a new position in Johnson & Johnson worth $18.2M.

  • Twin Tree Management's largest Q4 2025 buy was Johnson & Johnson: 87,808 shares worth $18.2M.
  • Twin Tree Management added most to Coinbase in Q4 2025, an estimated $16.1M increase.
  • Twin Tree Management's biggest Q4 2025 reduction was State Street SPDR S&P Biotech ETF, cutting an estimated $76M.
  • Twin Tree Management fully exited VanEck Junior Gold Miners ETF in Q4 2025, selling an estimated $50.6M.
  • Twin Tree Management's ten largest holdings make up 20% of its $11.5B portfolio in Q4 2025.
  • Twin Tree Management opened 369 new positions and closed 431 in Q4 2025.
  • Twin Tree Management's portfolio value fell 52% quarter-over-quarter to $11.5B.

Based on Twin Tree Management's 13F filing for Q4 2025, filed 11 Feb 2026.