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Portfolio (Quarterly) Guide ↗

Twin Tree Management, LP

· CIK 0001535588
13F Portfolio $4.7B AUM 1,240 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 455 New 205 Added 559 Reduced 566 Exited
Page 1 of 28  ·  559 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 SPY CALL SPDR S&P 500 ETF TRUST Financial Services 521,900.0 $339.4M 7.15% -220K -29.7% $650.34 +14.2%
2 SPY PUT SPDR S&P 500 ETF TRUST Financial Services 328,100.0 $213.4M 4.49% -125K -27.6% $650.34 +14.2%
3 GLD PUT SPDR GOLD TRUST Financial Services 179,800.0 $77.4M 1.63% -1.5M -89.5% $430.29 -3.1%
4 CSCO CALL CISCO SYSTEMS, INC. Technology 818,700.0 $63.5M 1.34% -9K -1.1% $77.59 +52.3%
5 IAU PUT ISHARES GOLD TRUST Financial Services 478,500.0 $42.2M 0.89% -1.9M -79.9% $88.16 -3.1%
6 AAPL CALL APPLE INC Technology 139,700.0 $35.5M 0.75% -67K -32.4% $253.79 +20.2%
7 PUT BERKSHIRE HATHAWAY INC. 63,700.0 $30.5M 0.64% -15K -18.8% $479.20
8 ARM PUT ARM HOLDINGS PLC. Technology 172,800.0 $26.1M 0.55% -162K -48.4% $151.28 +97.1%
9 TER PUT TERADYNE, INC. Technology 87,100.0 $25.8M 0.54% -180K -67.4% $296.46 +16.2%
10 ORCL PUT ORACLE CORP. Technology 173,600.0 $25.5M 0.54% -12K -6.4% $147.11 +29.0%
11 MU PUT MICRON TECHNOLOGY INC. Technology 66,900.0 $22.6M 0.48% -386K -85.2% $337.84 +125.6%
12 MKL CALL MARKEL GROUP INC Financial Services 10,600.0 $20.3M 0.43% -6K -35.4% $1914.07 -3.2%
13 XOM CALL EXXON MOBIL CORP. Energy 118,000.0 $20.0M 0.42% -143K -54.9% $169.66 -7.9%
14 GEV PUT GE VERNOVA INC. Utilities 22,600.0 $19.7M 0.41% -36K -61.5% $872.90 +19.6%
15 CVNA CALL CARVANA CO. Consumer Cyclical 60,200.0 $18.9M 0.40% -11K -15.7% $314.38 -79.5%
16 PM CALL PHILIP MORRIS INTERNATIONAL Consumer Defensive 96,900.0 $16.0M 0.34% -60K -38.0% $165.34 +14.1%
17 AVGO PUT BROADCOM INC Technology 51,000.0 $15.8M 0.33% -72K -58.7% $309.51 +33.9%
18 MRVL PUT MARVELL TECHNOLOGY INC Technology 158,800.0 $15.7M 0.33% -338K -68.0% $99.05 +92.5%
19 GLD CALL SPDR GOLD TRUST Financial Services 35,900.0 $15.4M 0.33% -39K -51.9% $430.29 -3.1%
20 GDX CALL VANECK ETF TRUST 163,100.0 $15.0M 0.32% -762K -82.4% $91.77 -6.2%
Page 1 of 28  ·  559 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 31.7%
Consumer Cyclical 12.2%
Financial Services 10.8%
Industrials 10.4%
Healthcare 8.7%
Basic Materials 8.5%
Consumer Defensive 5.8%
Energy 3.9%
Communication Services 3.7%
Utilities 2.9%