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Twin Tree Management, LP
Twin Tree Management, LP is a Dallas, Texas-based hedge fund founded in 2011. The firm manages over $7.4 billion in assets (as of March 31, 2025) and employs 14 people, with 71% investment professionals. Twin Tree primarily serves pooled investment vehicles and focuses on institutional clients and sophisticated investors.
Investment Strategy
Twin Tree Management, LP pursues systematic and quantitative investment strategies, managing multi-strategy hedge funds. The firm primarily engages in arbitrage, relative value trading, and quantitative strategies across liquid global markets, focusing on efficiently managing risk and maximizing risk-adjusted returns through advanced data and technology.
Latest 13F Filing Activity
Twin Tree Management, LP filed their most recent 13F report on Jun 30, 2025 disclosing 430 equity positions and 1,107 options positions with a total 13F market value of $54B. The fund increased holdings in Ishares TR, Select Sector SPDR TR, Vanguard Index FDS among other positions. Twin Tree Management, LP reduced exposure to Alphabet Inc., Broadcom Inc., Oracle Corp. among others.
Top Holdings
Equity Positions (430)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
I IGV | ISHARES TR | 0.19% | $99.6M | 909,662 | $108.44 | $109.50 | +$95.4M |
S SMH | VANECK ETF TRUST | 0.15% | $79.8M | 286,282 | $262.98 | $278.88 | +$61.2M |
X XLK | SELECT SECTOR SPDR TR | 0.14% | $77.7M | 306,934 | $253.23 | $253.23 | +$77.7M |
V VOO | VANGUARD INDEX FDS | 0.14% | $73.4M | 129,245 | $568.03 | $568.03 | +$73.4M |
P PWR | QUANTA SVCS INC | 0.13% | $68.5M | 181,177 | $326.46 | $378.08 | +$49.5M |
Options Positions (1,107)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Sold | Call | $7.35B | 118,887 | $617.85 | $554.34 | -90,885 | -$4.39B |
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $3.25B | 52,646 | $617.85 | $554.56 | -8,115 | -$146.2M |
G GLD | SPDR GOLD TR | Sold | Put | $1.56B | 51,224 | $304.83 | $207.82 | -25,172 | -$639.8M |
Q QQQ | INVESCO QQQ TR | Bought | Put | $866.3M | 15,704 | $551.64 | $510.94 | +6,670 | +$442.7M |
V VOO | VANGUARD INDEX FDS | New | Put | $630.7M | 11,103 | $568.03 | $568.03 | +11,103 | +$630.7M |
Industry Allocation
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