Twin Tree Management, LP

Q4 2025 13F-HR Holdings

Location
Dallas, TX
Holdings as of
12/31/2025
Date filed
2/11/2026
Form type
13F-HR
Num holdings
1,351
Total value ($000)
$11,461,522
Net value change ($000)
-12,583,186 (-52.3%)
New positions
144
Sold out positions
184
Turnover %
100.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BMY 19,236 NEW
JNJ 18,172 NEW
ACN 13,315 NEW
TER 12,411 75.7%
XYZ 9,622 81.5%
AMD 9,579 NEW
CNQ 9,399 1278.8%
PINS 9,325 987.8%
DELL 8,693 NEW
TXN 8,474 332.3%
Top Reduces (Value $000, Stocks/ETFs)
XBI -66,299 -99.3%
GDXJ -48,492 -100.0%
SPY -43,560 -74.2%
STX -40,366 -100.0%
SOFI -33,003 -93.4%
AEM -31,439 -91.8%
SMH -29,248 -99.3%
TMO -28,622 -100.0%
XLK -26,436 -100.0%
RY -26,183 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 10,485,282 (91.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type