# Twin Tree Management, LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1535588. Source: https://holderbook.com/funds/1535588-twin-tree-management-lp/

- Reported value: $5.3B
- Positions: 753
- Weight of the ten largest: 20.7%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $514.1M | 0 | 9.7% | 10 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $107.1M | 0 | 2.0% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $68.7M | 42,101 | 1.3% | 10 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $64.5M | 35,664 | 1.2% | 10 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $64.4M | 4,373 | 1.2% | 10 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $63.4M | 0 | 1.2% | 15 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $54.6M | 31,320 | 1.0% | 10 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $54.4M | 97,304 | 1.0% | 10 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $53.8M | 16,927 | 1.0% | 11 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $53.7M | 194,746 | 1.0% | 10 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $47.4M | 5,996 | 0.9% | 10 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $46.4M | 37,245 | 0.9% | 3 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $45.6M | 5,220 | 0.9% | 3 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $45.0M | 829 | 0.8% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $44.3M | 202,050 | 0.8% | 10 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $43.4M | 5,096 | 0.8% | 8 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $42.6M | 679 | 0.8% | 10 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $41.2M | 4,632 | 0.8% | 14 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $41.1M | 23,680 | 0.8% | 10 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $39.4M | 1,587 | 0.7% | 10 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $39.2M | 76,925 | 0.7% | 11 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $36.1M | 67,307 | 0.7% | 10 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $34.6M | 15,809 | 0.7% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $34.0M | 0 | 0.6% | 10 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $34.0M | 3,694 | 0.6% | 11 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $32.7M | 133,964 | 0.6% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $32.7M | 0 | 0.6% | 6 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $31.2M | 47,195 | 0.6% | 12 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $30.8M | 29,330 | 0.6% | 10 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $28.5M | 8,091 | 0.5% | 10 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $28.3M | 0 | 0.5% | 11 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $28.3M | 9,342 | 0.5% | 13 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $27.9M | 126,041 | 0.5% | 13 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $27.5M | 58,312 | 0.5% | 12 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $27.4M | 0 | 0.5% | 11 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $27.4M | 5,513 | 0.5% | 11 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $26.8M | 0 | 0.5% | 31 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $26.2M | 6,173 | 0.5% | 10 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $25.5M | 29,330 | 0.5% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $25.2M | 0 | 0.5% | 11 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $24.6M | 0 | 0.5% | 10 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $24.3M | 6,622 | 0.5% | 3 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $23.5M | 1,310 | 0.4% | 13 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $22.9M | 0 | 0.4% | 10 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $22.9M | 0 | 0.4% | 25 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $22.1M | 29,735 | 0.4% | 8 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $21.5M | 34,632 | 0.4% | 10 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $21.4M | 2,722 | 0.4% | 15 |
| TOYOTA MOTOR CORP | [TM](https://holderbook.com/stocks/TM/) | $21.1M | 42,379 | 0.4% | 10 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $21.1M | 0 | 0.4% | 1 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $20.9M | 11,651 | 0.4% | 12 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $20.8M | 10,253 | 0.4% | 1 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $20.6M | 110,612 | 0.4% | 11 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $20.3M | 0 | 0.4% | 11 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $20.2M | 54,826 | 0.4% | 13 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $19.0M | 0 | 0.4% | 5 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $18.9M | 0 | 0.4% | 2 |
| FORD MTR CO | [F](https://holderbook.com/stocks/F/) | $18.8M | 0 | 0.4% | 12 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $18.8M | 18,166 | 0.4% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $18.6M | 28,374 | 0.3% | 25 |
| ASTERA LABS INC | [ALAB](https://holderbook.com/stocks/ALAB/) | $18.5M | 0 | 0.3% | 6 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $18.5M | 0 | 0.3% | 14 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $18.4M | 0 | 0.3% | 1 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $17.9M | 89,670 | 0.3% | 14 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $17.6M | 0 | 0.3% | 1 |
| HSBC HLDGS PLC | [HSBC](https://holderbook.com/stocks/HSBC/) | $17.6M | 0 | 0.3% | 5 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $17.4M | 0 | 0.3% | 1 |
| NATIONAL GRID PLC | [NGG](https://holderbook.com/stocks/NGG/) | $17.0M | 0 | 0.3% | 9 |
| BURLINGTON STORES INC | [BURL](https://holderbook.com/stocks/BURL/) | $16.8M | 6,809 | 0.3% | 1 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $16.6M | 0 | 0.3% | 1 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $16.6M | 0 | 0.3% | 10 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $16.5M | 3,069 | 0.3% | 11 |
| ZOOM COMMUNICATIONS INC | [ZM](https://holderbook.com/stocks/ZM/) | $16.4M | 65,605 | 0.3% | 11 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $16.2M | 0 | 0.3% | 8 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $16.0M | 11,241 | 0.3% | 10 |
| CONSOLIDATED EDISON INC | [ED](https://holderbook.com/stocks/ED/) | $15.8M | 0 | 0.3% | 2 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $15.8M | 0 | 0.3% | 6 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $15.7M | 351 | 0.3% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $15.4M | 19,858 | 0.3% | 10 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $15.3M | 0 | 0.3% | 11 |
| ANGLOGOLD ASHANTI PLC | [AU](https://holderbook.com/stocks/AU/) | $15.3M | 49,509 | 0.3% | 12 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $15.3M | 0 | 0.3% | 7 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $15.3M | 79,846 | 0.3% | 10 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $15.3M | 27,989 | 0.3% | 10 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $15.2M | 21,498 | 0.3% | 2 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $14.9M | 37,732 | 0.3% | 12 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $14.9M | 0 | 0.3% | 5 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $14.8M | 0 | 0.3% | 7 |
| SPDR SERIES TRUST | [XME](https://holderbook.com/stocks/XME/) | $14.7M | 30,486 | 0.3% | 4 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $14.5M | 36,764 | 0.3% | 11 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $14.3M | 4,462 | 0.3% | 4 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $14.3M | 5,274 | 0.3% | 4 |
| ROCKET LAB CORP | [RKLB](https://holderbook.com/stocks/RKLB/) | $14.1M | 17,197 | 0.3% | 5 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $14.1M | 0 | 0.3% | 1 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $14.0M | 0 | 0.3% | 4 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $14.0M | 0 | 0.3% | 7 |
| REALTY INCOME CORP | [O](https://holderbook.com/stocks/O/) | $14.0M | 0 | 0.3% | 11 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $13.9M | 14,080 | 0.3% | 8 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $13.9M | 15,436 | 0.3% | 22 |
| EXTRA SPACE STORAGE INC | [EXR](https://holderbook.com/stocks/EXR/) | $13.4M | 0 | 0.3% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2024 | +8.1% | +10.0% | -1.9% | 100% |
| Q4 2023 | +15.0% | +11.2% | +3.8% | 100% |
| Q3 2023 | -4.5% | -3.6% | -0.9% | 100% |
| Q2 2023 | +4.5% | +8.3% | -3.8% | 100% |
| Q1 2023 | +11.0% | +7.0% | +4.0% | 76% |
| Q4 2022 | +7.9% | +7.1% | +0.8% | 98% |
| Q3 2022 | -4.3% | -5.3% | +1.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.3B | 753 |
| Q1 2026 | $4.7B | 657 |
| Q4 2025 | $11.5B | 716 |
| Q3 2025 | $24.0B | 751 |
| Q2 2025 | $53.7B | 779 |
| Q1 2025 | $53.1B | 838 |
| Q4 2024 | $55.8B | 835 |
| Q3 2024 | $51.0B | 814 |
| Q2 2024 | $44.3B | 748 |
| Q1 2024 | $45.3B | 724 |
| Q4 2023 | $52.4B | 1,358 |
| Q3 2023 | $44.5B | 1,190 |