Twin Tree Management, LP

CIK: 0001535588SEC EDGAR →

Portfolio Value

$11.5B

Holdings

716

As of

Q4 2025

New Positions

104

Closed Positions

130

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	SPYPut SPDR S&P 500 ETF TR	1,217,388	$830.2M	7.24%
2	GQ9Put SPDR GOLD TR	1,798,291	$712.7M	6.22%
3	IAU*Put ISHARES GOLD TR	2,685,500	$218.0M	1.90%
4	MUPut MICRON TECHNOLOGY INC	591,894	$168.9M	1.47%
5	JPMPut JPMORGAN CHASE & CO.	444,733	$143.3M	1.25%
6	AMGNPut AMGEN INC	416,500	$136.3M	1.19%
7	TSLAPut TESLA INC	249,700	$112.3M	0.98%
8	GOOGLPut ALPHABET INC	338,100	$105.8M	0.92%
9	NKEPut NIKE INC	1,642,027	$104.6M	0.91%
10	AAPLPut APPLE INC	376,000	$102.2M	0.89%

Quarterly Changes

Top Buys

IWMNEW

$78.4M

NFLX↑ Increased

$68.2M

JPM↑ Increased

$66.0M

PFENEW

$60.4M

BMYNEW

$56.8M

Top Sells

SPY↓ Decreased

$1.5B

GQ9↓ Decreased

$916.9M

IAU*↓ Decreased

$441.3M

AAPL↓ Decreased

$303.4M

AMD↓ Decreased

$229.2M

New Positions (252)

$78.4M · 318K shares

$60.4M · 2.4M shares

$56.8M · 1.1M shares

$51.5M · 42K shares

$50.1M · 217K shares

$48.0M · 311K shares

$41.2M · 1.7M shares

$37.3M · 88K shares

$35.6M · 296K shares

$33.2M · 54K shares

$31.1M · 173K shares

$30.7M · 1.4M shares

$29.7M · 876K shares

$27.8M · 250K shares

$27.6M · 178K shares

$27.0M · 168K shares

$26.7M · 56K shares

$25.4M · 270K shares

XLV

$20.0M · 129K shares

$17.9M · 82K shares

$17.8M · 323K shares

$17.7M · 73K shares

$17.2M · 97K shares

$16.1M · 103K shares

$15.3M · 23K shares

$14.7M · 526K shares

$14.4M · 56K shares

$14.4M · 125K shares

$14.4M · 293K shares

$14.2M · 62K shares

$14.2M · 219K shares

$13.9M · 15K shares

$13.6M · 40K shares

LKQ1

$13.1M · 433K shares

$13.1M · 492K shares

$12.7M · 533K shares

$12.6M · 44K shares

$12.5M · 186K shares

$12.3M · 86K shares

$11.7M · 98K shares

$11.4M · 65K shares

$11.3M · 591K shares

$11.2M · 1.0M shares

$10.8M · 16K shares

$10.6M · 37K shares

$10.5M · 134K shares

$10.5M · 17K shares

$10.4M · 172K shares

$10.3M · 404K shares

$10.2M · 90K shares

$10.1M · 6K shares

$10.1M · 98K shares

$9.8M · 404K shares

$9.7M · 125K shares

$9.7M · 68K shares

$9.5M · 63K shares

$9.5M · 180K shares

$9.4M · 121K shares

$9.3M · 32K shares

$9.2M · 199K shares

$9.2M · 152K shares

$9.1M · 47K shares

$9.0M · 153K shares

$8.9M · 382K shares

$8.8M · 47K shares

$8.8M · 3K shares

$8.8M · 90K shares

$8.6M · 288K shares

$8.5M · 15K shares

$8.4M · 432K shares

$8.2M · 9K shares

$8.2M · 40K shares

$8.0M · 188K shares

$7.9M · 466K shares

$7.6M · 38K shares

$7.6M · 34K shares

JXN

$7.3M · 69K shares

$7.1M · 15K shares

$7.0M · 34K shares

$6.9M · 237K shares

$6.7M · 23K shares

$6.7M · 85K shares

$6.7M · 91K shares

$6.5M · 18K shares

$6.3M · 33K shares

$5.8M · 77K shares

$5.8M · 57K shares

$5.8M · 151K shares

$5.7M · 69K shares

$5.5M · 86K shares

$5.3M · 62K shares

$5.2M · 37K shares

CWAN

$5.2M · 215K shares

HON

$4.9M · 25K shares

MTN

$4.9M · 37K shares

$4.8M · 368K shares

$4.8M · 45K shares

$4.6M · 32K shares

$4.5M · 129K shares

$4.4M · 83K shares

$4.3M · 95K shares

$4.3M · 34K shares

$4.3M · 181K shares

$4.3M · 33K shares

$4.2M · 26K shares

$4.1M · 83K shares

$3.9M · 40K shares

$3.8M · 160K shares

$3.7M · 99K shares

$3.7M · 52K shares

$3.7M · 94K shares

$3.6M · 99K shares

$3.6M · 35K shares

$3.5M · 144K shares

$3.3M · 70K shares

$3.3M · 45K shares

$3.3M · 51K shares

$3.2M · 22K shares

$3.1M · 37K shares

$3.0M · 4K shares

$3.0M · 48K shares

CVLT

$3.0M · 24K shares

CART

$3.0M · 66K shares

CNM

$2.9M · 57K shares

$2.9M · 9K shares

$2.9M · 39K shares

$2.9M · 28K shares

$2.8M · 9K shares

$2.8M · 17K shares

$2.7M · 45K shares

$2.6M · 5K shares

$2.6M · 7K shares

$2.4M · 30K shares

$2.4M · 16K shares

$2.3M · 7K shares

$2.3M · 28K shares

$2.2M · 50K shares

$2.2M · 34K shares

$2.1M · 26K shares

$2.1M · 26K shares

$2.1M · 79K shares

$2.1M · 42K shares

$2.0M · 29K shares

$2.0M · 7K shares

$2.0M · 68K shares

$2.0M · 19K shares

$2.0M · 19K shares

$1.9M · 7K shares

$1.9M · 26K shares

$1.9M · 15K shares

$1.9M · 81K shares

$1.9M · 85K shares

$1.9M · 43K shares

$1.9M · 10K shares

$1.8M · 20K shares

$1.8M · 11K shares

$1.8M · 18K shares

$1.7M · 51K shares

$1.7M · 8K shares

$1.7M · 111K shares

$1.6M · 8K shares

$1.6M · 14K shares

$1.6M · 124K shares

$1.6M · 44K shares

$1.5M · 2K shares

$1.5M · 26K shares

$1.5M · 22K shares

$1.4M · 11K shares

$1.4M · 6K shares

$1.4M · 6K shares

$1.3M · 47K shares

$1.3M · 6K shares

$1.3M · 6K shares

$1.3M · 17K shares

$1.2M · 10K shares

$1.2M · 6K shares

$1.2M · 7K shares

$1.2M · 55K shares

$1.2M · 9K shares

$1.1M · 7K shares

$1.1M · 11K shares

$1.1M · 6K shares

$1.1M · 8K shares

$1.1M · 23K shares

$1.0M · 5K shares

$1.0M · 3K shares

CNP

$1.0M · 27K shares

OZK

$878K · 19K shares

$871K · 8K shares

$856K · 8K shares

$807K · 4K shares

$805K · 12K shares

$797K · 8K shares

$796K · 7K shares

$771K · 3K shares

$763K · 6K shares

$652K · 4K shares

$641K · 43K shares

$625K · 2K shares

$625K · 7K shares

$608K · 16K shares

$604K · 7K shares

$593K · 10K shares

$590K · 11K shares

$575K · 9K shares

$550K · 9K shares

$548K · 3K shares

$535K · 2K shares

$529K · 3K shares

$528K · 3K shares

$526K · 11K shares

$511K · 3K shares

$490K · 3K shares

$483K · 24K shares

$475K · 3K shares

VICR

$472K · 4K shares

$470K · 4K shares

$422K · 2K shares

$408K · 900 shares

$406K · 2K shares

$377K · 8K shares

$343K · 9K shares

$330K · 20K shares

$321K · 4K shares

$319K · 3K shares

$299K · 11K shares

$284K · 1K shares

$272K · 26K shares

$270K · 3K shares

$264K · 6K shares

RME

$240K · 1K shares

MKTX

$222K · 1K shares

$183K · 9K shares

$160K · 3K shares

$141K · 3K shares

$120K · 1K shares

$82K · 4K shares

$79K · 10K shares

$67K · 200 shares

$57K · 321 shares

$43K · 1K shares

$32K · 153 shares

$31K · 260 shares

$30K · 625 shares

$28K · 1K shares

$22K · 2K shares

$21K · 271 shares

$19K · 529 shares

$6K · 243 shares

$2K · 100 shares

$1K · 36 shares

$0 · 5 shares

Closed Positions (287)

XLV

$198.4M · 1.4M shares

DON

$116.3M · 251K shares

$94.6M · 336K shares

$91.2M · 921K shares

$81.3M · 723K shares

$72.1M · 328K shares

$71.7M · 105K shares

$71.1M · 825K shares

$71.1M · 176K shares

$70.7M · 305K shares

$70.5M · 2.2M shares

$69.8M · 2.2M shares

$67.8M · 282K shares

$62.5M · 717K shares

$62.0M · 832K shares

$61.9M · 468K shares

$58.5M · 620K shares

$58.2M · 154K shares

$56.4M · 773K shares

$51.6M · 898K shares

$50.6M · 360K shares

$48.1M · 256K shares

$47.2M · 1.9M shares

$44.7M · 185K shares

$44.6M · 232K shares

$43.0M · 381K shares

$41.8M · 188K shares

$41.8M · 498K shares

$36.4M · 592K shares

$35.8M · 39K shares

$35.4M · 395K shares

$35.3M · 1.3M shares

$35.2M · 57K shares

$34.7M · 1.3M shares

$34.3M · 252K shares

$34.1M · 215K shares

$33.1M · 194K shares

$33.0M · 246K shares

$31.5M · 568K shares

$31.2M · 248K shares

$30.5M · 146K shares

$29.0M · 348K shares

$28.0M · 622K shares

$27.6M · 410K shares

$27.0M · 33K shares

$26.9M · 279K shares

$26.9M · 986K shares

$26.4M · 754K shares

$25.6M · 312K shares

$25.6M · 24K shares

$24.7M · 510K shares

$24.0M · 286K shares

$23.8M · 124K shares

$23.3M · 299K shares

$22.9M · 84K shares

$22.5M · 224K shares

$21.8M · 1.1M shares

$19.4M · 92K shares

$19.4M · 287K shares

$19.3M · 127K shares

$19.0M · 30K shares

$18.9M · 38K shares

$18.8M · 350K shares

$18.8M · 386K shares

$18.1M · 116K shares

$17.8M · 52K shares

$17.8M · 630K shares

XLI

$17.4M · 113K shares

CMC

$17.3M · 301K shares

$16.4M · 547K shares

$16.3M · 509K shares

$16.2M · 86K shares

$16.1M · 201K shares

$16.1M · 85K shares

$15.9M · 65K shares

$15.7M · 713K shares

$15.6M · 62K shares

$15.5M · 117K shares

$15.3M · 304K shares

$15.3M · 202K shares

$15.3M · 417K shares

$15.1M · 253K shares

$15.1M · 278K shares

$14.9M · 584K shares

$14.7M · 142K shares

$14.4M · 335K shares

$14.3M · 88K shares

$14.3M · 226K shares

$14.1M · 69K shares

$13.8M · 64K shares

$13.4M · 87K shares

$13.2M · 94K shares

$12.9M · 139K shares

$12.4M · 219K shares

$12.4M · 727K shares

$12.1M · 130K shares

$11.8M · 39K shares

$11.6M · 36K shares

$11.4M · 54K shares

$11.3M · 112K shares

$11.2M · 167K shares

$10.7M · 57K shares

$10.4M · 314K shares

$10.4M · 36K shares

$10.3M · 124K shares

$10.2M · 37K shares

$10.1M · 101K shares

$10.0M · 146K shares

BWXT

$9.6M · 52K shares

$9.4M · 142K shares

VOD

$9.3M · 806K shares

TRMB

$9.3M · 114K shares

$9.2M · 716K shares

$9.1M · 375K shares

$9.1M · 144K shares

$9.0M · 40K shares

$8.9M · 28K shares

$8.8M · 30K shares

BRBR

$8.7M · 240K shares

BYD

$8.5M · 98K shares

LOAR

$8.4M · 105K shares

$8.3M · 38K shares

$7.8M · 116K shares

$7.8M · 52K shares

$7.8M · 81K shares

$7.8M · 258K shares

$7.8M · 93K shares

$7.3M · 130K shares

$7.3M · 97K shares

$7.1M · 43K shares

$6.9M · 338K shares

$6.9M · 49K shares

ORLY

$6.8M · 63K shares

BF/B

$6.7M · 247K shares

$6.4M · 29K shares

$6.4M · 176K shares

$6.2M · 204K shares

$6.0M · 112K shares

$5.9M · 44K shares

$5.5M · 414K shares

$5.4M · 289K shares

$5.4M · 47K shares

$5.3M · 42K shares

$5.2M · 16K shares

$5.2M · 11K shares

$5.0M · 212K shares

$4.8M · 33K shares

$4.7M · 105K shares

$4.7M · 133K shares

$4.6M · 94K shares

$4.5M · 146K shares

$4.3M · 25K shares

$4.2M · 55K shares

$4.1M · 31K shares

$4.0M · 88K shares

$3.9M · 57K shares

$3.9M · 31K shares

$3.9M · 25K shares

$3.8M · 7K shares

$3.8M · 40K shares

$3.6M · 27K shares

$3.6M · 38K shares

$3.5M · 42K shares

$3.5M · 43K shares

$3.5M · 99K shares

$3.4M · 45K shares

$3.4M · 24K shares

$3.3M · 34K shares

$3.3M · 36K shares

$3.3M · 43K shares

$3.2M · 34K shares

$3.1M · 37K shares

$3.1M · 147K shares

$3.1M · 51K shares

$3.1M · 16K shares

$3.0M · 93K shares

$3.0M · 53K shares

$2.9M · 36K shares

$2.9M · 41K shares

$2.9M · 77K shares

$2.8M · 150K shares

$2.7M · 54K shares

$2.7M · 6K shares

$2.7M · 19K shares

$2.7M · 5K shares

$2.6M · 111K shares

$2.5M · 25K shares

$2.5M · 6K shares

$2.5M · 12K shares

$2.5M · 19K shares

$2.5M · 54K shares

$2.4M · 4K shares

$2.4M · 24K shares

$2.4M · 132K shares

$2.4M · 18K shares

$2.3M · 21K shares

$2.3M · 8K shares

PLNT

$2.3M · 22K shares

$2.3M · 16K shares

$2.3M · 41K shares

$2.2M · 21K shares

$2.1M · 55K shares

$2.1M · 28K shares

$2.1M · 17K shares

$2.1M · 33K shares

$2.0M · 34K shares

$1.8M · 21K shares

$1.8M · 33K shares

$1.8M · 11K shares

$1.8M · 69K shares

$1.8M · 23K shares

$1.8M · 9K shares

$1.6M · 24K shares

$1.6M · 30K shares

$1.6M · 23K shares

$1.6M · 55K shares

$1.5M · 65K shares

$1.5M · 7K shares

$1.5M · 26K shares

$1.4M · 28K shares

$1.3M · 9K shares

$1.3M · 7K shares

EWG

$1.2M · 29K shares

BAM

$1.2M · 21K shares

$1.2M · 98K shares

$1.1M · 5K shares

$1.1M · 9K shares

$1.0M · 27K shares

$999K · 52K shares

$968K · 6K shares

$942K · 3K shares

$885K · 3K shares

$844K · 15K shares

$820K · 48K shares

$794K · 16K shares

$768K · 6K shares

$761K · 4K shares

$751K · 4K shares

$719K · 19K shares

$718K · 3K shares

$695K · 78K shares

$694K · 15K shares

$665K · 3K shares

$662K · 5K shares

$656K · 29K shares

$627K · 9K shares

$569K · 6K shares

$564K · 27K shares

$487K · 23K shares

$477K · 2K shares

$470K · 7K shares

$465K · 14K shares

$435K · 9K shares

$432K · 26K shares

$429K · 56K shares

$414K · 2K shares

$405K · 2K shares

$377K · 4K shares

$331K · 17K shares

$326K · 5K shares

$312K · 1K shares

$297K · 1K shares

$289K · 8K shares

$257K · 4K shares

$211K · 4K shares

$190K · 2K shares

$182K · 6K shares

$176K · 5K shares

$166K · 6K shares

$156K · 1K shares

$154K · 864 shares

$147K · 411 shares

$141K · 1K shares

$89K · 2K shares

$76K · 1K shares

$21K · 2K shares

AGCO

$12K · 113 shares

$11K · 23 shares

$10K · 87 shares

$9K · 192 shares

$6K · 60 shares

$4K · 101 shares

$2K · 17 shares

$484 · 11 shares

$391 · 1 shares

$50 · 3 shares

$9 · 1 shares

Sector Breakdown

Sector	# Holdings	Value	%
Technology	120	$2.7B	23.9%
Financial Services	117	$2.4B	20.8%
Unknown	49	$1.4B	12.3%
Consumer Cyclical	87	$1.1B	9.9%
Healthcare	59	$997.5M	8.7%
Industrials	98	$821.3M	7.2%
Basic Materials	39	$487.0M	4.2%
Communication Services	26	$479.4M	4.2%
Consumer Defensive	35	$307.1M	2.7%
Utilities	22	$300.7M	2.6%
Energy	38	$234.0M	2.0%
Real Estate	26	$159.3M	1.4%