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Twin Tree Management, LP

Q3 2025 · Filed 2025-11-13
Market Value
$2.1B
-46.1%
Holdings
577
-93
New Purchases
147
Added To
75
Closed
195
Reduced
160
Top 10 Concentration
19.8%
Turnover
59.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPY 2.76% 0.00% +2.76% $59M
XBI 3.14% 0.77% +2.36% $67M
STX 1.90% 0.00% +1.90% $40M
GDXJ 2.28% 0.55% +1.73% $48M
GLW 1.72% 0.43% +1.29% $37M
KLAC 1.20% 0.00% +1.20% $26M
COIN 1.16% 0.00% +1.16% $25M
TMO 1.34% 0.30% +1.04% $29M
MS 1.36% 0.39% +0.97% $29M
CVS 0.97% 0.00% +0.97% $21M
SOFI 1.66% 0.69% +0.97% $35M
GOOGL 0.96% 0.00% +0.96% $20M
META 0.89% 0.00% +0.89% $19M
XLF 1.15% 0.30% +0.86% $25M
WDC 0.94% 0.10% +0.84% $20M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PWR 0.03% 1.73% -1.71% $568K
VOO 0.20% 1.86% -1.66% $4M
HPE 0.00% 1.18% -1.18% $0
RCL 0.22% 1.27% -1.05% $5M
ASML 0.00% 0.94% -0.94% $0
CDNS 0.18% 1.08% -0.90% $4M
QQQ 0.00% 0.88% -0.88% $0
LULU 0.40% 1.24% -0.84% $9M
VST 0.30% 1.11% -0.81% $6M
CM 0.02% 0.81% -0.79% $435K
HWM 0.77% 1.55% -0.78% $16M
ROST 0.00% 0.77% -0.77% $0
WPM 0.00% 0.76% -0.76% $0
GE 0.00% 0.74% -0.74% $0
TSLA 0.29% 1.03% -0.74% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 42 $399M 18.8%
Large Cap 395 $1.4B 66.2%
Mid Cap 133 $304M 14.3%
Small Cap 7 $16M 0.7%

Portfolio Analytics

Avg Market Cap
$87.3B
Median Market Cap
$22.9B
Avg P/E
37.3
Median P/E
25.1
Avg Dividend Yield
0.01%
Avg Beta
1.16
# Stocks
537
# ETFs / Funds
40

Top Holdings (577 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 XBI 3.14% 666,187 $67M $100.20 $36M +298,482 +81.2%
2 SPY 2.76% 88,100 $59M $666.18 +88,100 NEW
3 GDXJ 2.28% 489,674 $48M $99.03 $27M +167,199 +51.9%
4 IGV 2.01% 371,495 $43M $115.01 -$57M -538,167 -59.2%
5 STX 1.90% 170,997 $40M $236.06 +170,997 NEW
6 GLW 1.72% 446,054 $37M $82.03 $20M +124,061 +38.5%
7 SOFI 1.66% 1,337,074 $35M $26.42 $8M -163,559 -10.9%
8 AEM 1.61% 203,153 $34M $168.56 -$8M -156,114 -43.5%
9 SMH 1.38% 90,212 $29M $326.36 -$50M -196,070 -68.5%
10 MS 1.36% 182,146 $29M $158.96 $13M +72,397 +66.0%
11 TMO 1.34% 59,013 $29M $485.02 $17M +29,334 +98.8%
12 XLK 1.24% 93,792 $26M $281.86 -$51M -213,142 -69.4%
13 RY 1.23% 177,732 $26M $147.32 $2M -6,951 -3.8%
14 KLAC 1.20% 23,737 $26M $1,078.60 $26M +23,632 +22506.7%
15 NKE 1.19% 363,195 $25M $69.73 -$11M -142,630 -28.2%
16 SOXX 1.17% 92,210 $25M $271.12 -$39M -174,701 -65.5%
17 GLD 1.16% 69,607 $25M $355.47 $10M +19,945 +40.2%
18 COIN 1.16% 73,095 $25M $337.49 +73,095 NEW
19 XLF 1.15% 455,950 $25M $53.87 $13M +231,084 +102.8%
20 APH 1.11% 190,962 $24M $123.75 -$31M -365,004 -65.7%
21 GS 1.07% 28,729 $23M $796.35 -$21M -32,735 -53.3%
22 CVS 0.97% 273,208 $21M $75.39 +273,208 NEW
23 GOOGL 0.96% 84,263 $20M $243.10 +84,263 NEW
24 WDC 0.94% 167,202 $20M $120.06 $16M +103,603 +162.9%
25 TTD 0.93% 405,892 $20M $49.01 -$9M -1,608 -0.4%
26 KGC 0.92% 787,017 $20M $24.85 $5M -169,496 -17.7%
27 TSM 0.91% 69,028 $19M $279.29 -$5M -39,658 -36.5%
28 CIEN 0.90% 131,506 $19M $145.67 $11M +34,466 +35.5%
29 META 0.89% 25,754 $19M $734.38 +25,754 NEW
30 LMT 0.86% 36,743 $18M $499.21 $7M +12,309 +50.4%
31 CNI 0.85% 192,278 $18M $94.30 -$14M -113,187 -37.0%
32 B 0.84% 548,214 $18M $32.77 $13M +301,674 +122.4%
33 CMG 0.82% 442,951 $17M $39.19 $6M +242,630 +121.1%
34 ENB 0.81% 341,411 $17M $50.46 $12M +230,597 +208.1%
35 TER 0.77% 119,048 $16M $137.64 -$835K -72,462 -37.8%
36 HWM 0.77% 83,464 $16M $196.23 -$45M -245,866 -74.7%
37 ARM 0.74% 110,894 $16M $141.49 -$18M -96,530 -46.5%
38 NEM 0.66% 167,058 $14M $84.31 $14M +157,309 +1613.6%
39 EWZ 0.66% 450,897 $14M $31.00 $1M +9,969 +2.3%
40 IBM 0.65% 49,387 $14M $282.16 +49,387 NEW
41 GFI 0.64% 325,678 $14M $41.96 +325,678 NEW
42 AVGO 0.64% 41,270 $14M $329.91 +41,270 NEW
43 AMAT 0.62% 64,778 $13M $204.74 -$14M -82,275 -56.0%
44 SLV 0.58% 293,591 $12M $42.37 $101K -82,455 -21.9%
45 MRVL 0.58% 147,694 $12M $84.07 -$14M -192,875 -56.6%
46 PEP 0.58% 88,135 $12M $140.44 +88,135 NEW
47 LLY 0.58% 16,206 $12M $763.00 -$12M -14,601 -47.4%
48 SQ 0.55% 163,269 $12M $72.27 $8M +109,335 +202.7%
49 LHX 0.55% 38,572 $12M $305.41 $6M +15,722 +68.8%
50 IWM 0.55% 48,611 $12M $241.96 +48,611 NEW
51 IBKR 0.54% 166,602 $11M $68.81 -$993K -58,208 -25.9%
52 TMUS 0.54% 47,804 $11M $239.38 +47,804 NEW
53 HOOD 0.52% 77,396 $11M $143.18 $1M -26,070 -25.2%
54 XRT 0.51% 127,181 $11M $86.18 -$15M -215,680 -62.9%
55 ADBE 0.51% 30,936 $11M $352.75 -$12M -29,580 -48.9%
56 CCL 0.51% 374,800 $11M $28.91 -$14M -519,485 -58.1%
57 OKTA 0.49% 114,326 $10M $91.70 -$12M -106,618 -48.3%
58 CVE 0.48% 601,831 $10M $16.99 $7M +332,721 +123.6%
59 EWY 0.47% 125,957 $10M $80.10 -$4M -71,312 -36.1%
60 QQQM 0.46% 39,712 $10M $247.12 +39,712 NEW
61 MRK 0.45% 115,164 $10M $83.93 -$4M -57,776 -33.4%
62 OR 0.44% 235,975 $9M $40.08 $9M +226,430 +2372.2%
63 AMZN 0.44% 42,235 $9M $219.57 +42,235 NEW
64 REXR 0.42% 215,484 $9M $41.11 +215,484 NEW
65 WYNN 0.41% 68,269 $9M $128.27 $3M +8,219 +13.7%
66 PM 0.41% 53,162 $9M $162.20 -$22M -115,702 -68.5%
67 SMCI 0.40% 179,732 $9M $47.94 -$6M -123,677 -40.8%
68 LULU 0.40% 48,325 $9M $177.93 -$41M -158,396 -76.6%
69 MAR 0.40% 32,886 $9M $260.44 -$5M -15,532 -32.1%
70 SLB 0.40% 247,951 $9M $34.37 $2M +46,108 +22.8%
71 MDB 0.39% 27,074 $8M $310.38 $4M +7,356 +37.3%
72 HD 0.39% 20,606 $8M $405.19 -$15M -42,202 -67.2%
73 DIA 0.39% 17,886 $8M $463.74 +17,886 NEW
74 CI 0.39% 28,724 $8M $288.25 -$5M -12,484 -30.3%
75 WBS 0.39% 137,913 $8M $59.44 $3M +47,589 +52.7%
76 EL 0.38% 92,706 $8M $88.12 -$2M -32,773 -26.1%
77 GM 0.38% 132,178 $8M $60.97 -$13M -297,857 -69.3%
78 KVUE 0.38% 495,236 $8M $16.23 -$850K +70,580 +16.6%
79 HON 0.37% 37,232 $8M $210.50 -$3M -8,812 -19.1%
80 BROS 0.37% 149,283 $8M $52.34 $7M +133,928 +872.2%
81 IWR 0.37% 80,824 $8M $96.55 $3M +24,209 +42.8%
82 LITE 0.36% 46,769 $8M $162.71 +46,769 NEW
83 SHOP 0.35% 50,585 $8M $148.61 -$10M -98,852 -66.2%
84 AFRM 0.35% 102,477 $7M $73.08 -$6M -95,966 -48.4%
85 PFE 0.35% 291,400 $7M $25.48 +291,400 NEW
86 IFF 0.35% 119,839 $7M $61.54 $7M +113,950 +1935.0%
87 DECK 0.35% 72,548 $7M $101.37 -$64K +573 +0.8%
88 ALNY 0.34% 16,005 $7M $456.00 +16,005 NEW
89 LYFT 0.34% 329,712 $7M $22.01 $3M +79,976 +32.0%
90 IMO 0.34% 79,314 $7M $90.74 +79,314 NEW
91 SBUX 0.34% 84,526 $7M $84.60 -$3M -30,075 -26.2%
92 LRCX 0.33% 52,132 $7M $133.90 -$6M -81,714 -61.0%
93 FLR 0.33% 165,161 $7M $42.07 -$8M -134,434 -44.9%
94 ORLY 0.32% 62,923 $7M $107.81 +62,923 NEW
95 ACHR 0.32% 705,689 $7M $9.58 $4M +479,699 +212.3%
96 LEN 0.32% 53,559 $7M $126.04 $5M +36,405 +212.2%
97 PAAS 0.32% 173,880 $7M $38.73 $6M +155,909 +867.6%
98 WDAY 0.31% 27,824 $7M $240.73 -$10M -41,525 -59.9%
99 SAP 0.31% 24,833 $7M $267.21 -$10M -30,087 -54.8%
100 DUOL 0.31% 20,206 $7M $321.84 +20,206 NEW

Options Breakdown

704 Calls $10.6B Call Value 603 Puts $11.2B Put Value 1.05 P/C Ratio

Top Calls

SymbolSharesValueStatus
SPY 2,120,300 $1.4B
AAPL 1,247,900 $318M
GDX 2,084,300 $159M
XLV 1,132,200 $158M
GLD 373,000 $133M
SOXX 476,700 $129M
AMGN 455,500 $129M
DELL 870,400 $123M
ORCL 403,300 $113M
MSFT 197,300 $102M

Top Puts

SymbolSharesValueStatus
GLD 4,141,800 $1.5B
SPY 1,273,400 $848M
IAU 8,189,600 $596M
MU 1,344,500 $225M
TSLA 475,400 $211M
AMD 1,241,600 $201M
SLV 3,812,000 $162M
AMAT 652,100 $134M
ANET 901,100 $131M
ASML 135,100 $131M

New Positions

SymbolValue% Port
SPY $59M 2.76%
STX $40M 1.90%
COIN $25M 1.16%
CVS $21M 0.97%
GOOGL $20M 0.96%
META $19M 0.89%
IBM $14M 0.65%
GFI $14M 0.64%
AVGO $14M 0.64%
PEP $12M 0.58%
IWM $12M 0.55%
TMUS $11M 0.54%
QQQM $10M 0.46%
AMZN $9M 0.44%
REXR $9M 0.42%

Sold Out Positions

SymbolValue% Port
ABT —%
AVB —%
BDX —%
ARW —%
DIS —%
RH —%
AR —%
HPE —%
AA —%
DINO —%
CUBE —%
CFG —%
VEEV —%
DLR —%
HLT —%
View SEC EDGAR Filings for Twin Tree Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms