Twin Tree Management, LP

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Twin Tree Management, LP reported 385 stock positions worth $476.2 million. Its top holding was iShares Gold Trust (IAU) at 2.3% of the portfolio, followed by SPDR Gold Shares (GLD, 2.2%) and ServiceNow (NOW, 2.2%). Compared with Q4 2025, it opened 209 new positions, sold out of 174, added to 76 and reduced 100. The biggest buy was a new position in iShares Gold Trust (IAU) and the biggest sale Teradyne (TER, shares −98%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001535588
Portfolio Value
$476.2M (Q1 2026)
SEC Filing
0001535588-26-000003 ↗ filed May 14, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $4.4B Q1 2024 Q2 2024: $3.4B Q2 2024 Q3 2024: $4.3B Q3 2024 Q4 2024: $4.1B Q4 2024 Q1 2025: $4.5B Q1 2025 Q2 2025: $4.0B Q2 2025 Q3 2025: $2.1B Q3 2025 Q4 2025: $976.2M Q4 2025 Q1 2026: $476.2M $476.2M Q1 2026 Q2 2026: $642.1M Q2 2026

Holdings 385 stocks · $476.2M
IAU iShares Gold Trust 2.32% 125,168 $11.0M New
GLD SPDR Gold Shares 2.21% 24,477 $10.5M Add +345.8%
NOW ServiceNow Inc. 2.18% 99,199 $10.4M Add +950.0%
LYB Lyondellbasell Indu Class A 1.87% 110,313 $8.9M Add +99.0%
MSFT Microsoft Corp. 1.80% 23,093 $8.5M New
LULU Lululemon Athletica Inc. 1.66% 51,665 $7.9M Add +442.4%
GDX Vaneck Gold Miners ETF 1.56% 80,951 $7.4M Add +160.8%
MU Micron Technology Inc. 1.48% 20,867 $7.0M Reduce -21.8%
KR Kroger Co. 1.47% 96,645 $7.0M New
MRNA Moderna Inc. 1.34% 125,203 $6.4M Add +83.6%
MCK McKesson Corp. 1.28% 7,028 $6.1M New
GLW Corning Inc. 1.24% 43,411 $5.9M Reduce -85.8%
XBI SS SPDR S&P Biotech ETF 1.24% 46,151 $5.9M Add +1141.6%
RACE Ferrari NV 1.22% 17,227 $5.8M Reduce -32.9%
XRT SS SPDR S&P Retail ETF 1.20% 71,270 $5.7M Add +872.4%
CRWD CrowdStrike Holdings Inc. Class A 1.12% 13,659 $5.3M Add +70.1%
NXT Nextpower Inc. 1.04% 41,278 $5.0M New
XOP SS SPDR S&P Og Exp & Prod 0.98% 25,656 $4.7M New
XLE SS Energy Select Sector 0.95% 74,039 $4.5M New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.95% 98,694 $4.5M Add +283.5%
MRVL Marvell Technology Inc. 0.92% 44,309 $4.4M Add +16.4%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.91% 3,296 $4.4M Reduce -40.0%
BRK.B Berkshire Hathaway Inc. Class B 0.90% 8,980 $4.3M New
WLK Westlake Corp. 0.88% 35,977 $4.2M New
DELL Dell Technologies -C 0.88% 25,606 $4.2M Reduce -62.9%
ANET Arista Networks Inc. 0.88% 34,039 $4.2M New
RBRK Rubrik Inc. Class A 0.87% 85,031 $4.2M Add +204.3%
EQIX Equinix Inc. 0.86% 4,169 $4.1M Add +108.5%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.85% 56,234 $4.0M New
ARM Arm Holdings PLC-ADR 0.75% 23,659 $3.6M Reduce -83.2%
VRTX Vertex Pharmaceuticals Inc. 0.73% 7,769 $3.5M New
HOOD Robinhood Markets Inc. Class A 0.70% 47,771 $3.3M New
META Meta Platforms Inc. Class A 0.69% 5,773 $3.3M Add +580.0%
JNJ Johnson & Johnson 0.68% 13,322 $3.3M Reduce -84.8%
DLTR Dollar Tree Inc. 0.68% 29,422 $3.2M New
ALAB Astera Labs Inc. 0.67% 29,227 $3.2M Reduce -9.8%
CF CF Industries Holdings Inc. 0.67% 24,648 $3.2M Reduce -32.9%
TSLA Tesla Inc. 0.64% 8,217 $3.1M New
CPAY Corpay Inc. 0.63% 10,317 $3.0M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.63% 18,667 $3.0M New
TM Toyota Motor Corp. -Spon ADR 0.61% 14,039 $2.9M New
CMG Chipotle Mexican Grill Inc. 0.60% 89,887 $2.9M Add +177.2%
AVGO Broadcom Inc. 0.60% 9,233 $2.9M New
TD Toronto-Dominion Bank 0.60% 30,568 $2.9M Reduce -12.4%
COIN Coinbase Global Inc. Class A 0.55% 15,105 $2.6M Reduce -88.1%
CHWY Chewy Inc. Class A 0.55% 97,118 $2.6M Add +26.4%
VST Vistra Corp. 0.54% 17,235 $2.6M Add +13.1%
SU Suncor Energy Inc. 0.54% 39,060 $2.6M Add +2923.2%
CI The Cigna Group 0.54% 9,574 $2.6M Add +34.8%
PAYX Paychex Inc. 0.52% 26,959 $2.5M New
HEI Heico Corp. 0.50% 8,615 $2.4M New
COST Costco Wholesale Corp. 0.48% 2,283 $2.3M New
OXY Occidental Petroleum Corp. 0.48% 34,977 $2.3M Reduce -43.3%
FFIV F5 Inc. 0.48% 7,829 $2.3M New
NKE Nike Inc. Class B 0.47% 42,667 $2.3M Reduce -89.7%
AZN Astrazeneca PLC 0.47% 11,420 $2.3M Add +16.4%
GNRC Generac Holdings Inc. 0.47% 11,519 $2.3M Add +137.5%
TSM Taiwan Semiconductor-SP ADR 0.47% 6,580 $2.2M Add +264.8%
ISRG Intuitive Surgical Inc. 0.46% 4,763 $2.2M Add +163.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.46% 9,038 $2.2M Reduce -1.6%
EOG EOG Resources Inc. 0.46% 15,149 $2.2M New
ATI Ati Inc. 0.46% 14,980 $2.2M New
TEAM Atlassian Corp. Class A 0.45% 31,211 $2.1M Add +108.0%
FNV Franco-Nevada Corp. 0.44% 8,410 $2.1M Add +35.5%
SLB SLB Ltd. filed as SLB LIMITED 0.44% 40,400 $2.1M Reduce -71.3%
IOT Samsara Inc. Class A 0.43% 65,174 $2.1M Add +3532.9%
GD General Dynamics Corp. 0.43% 6,011 $2.1M New
RKLB Rocket Lab Corp. 0.41% 30,764 $2.0M Add +46.3%
PYPL PayPal Holdings Inc. 0.41% 42,672 $1.9M Reduce -16.5%
HDV iShares Core High Dividend E 0.40% 14,162 $1.9M New
SNOW Snowflake Inc. 0.40% 12,742 $1.9M Add +370.4%
LVS Las Vegas Sands Corp. 0.40% 35,372 $1.9M New
NVMI Nova Ltd. 0.39% 4,315 $1.9M Add +99.2%
AOS Smith (a.o.) Corp. 0.39% 28,299 $1.9M New
RKT Rocket Cos Inc. Class A 0.39% 129,673 $1.8M Reduce -1.6%
SPOT Spotify Technology SA 0.39% 3,784 $1.8M New
TLN Talen Energy Corp. 0.38% 5,624 $1.8M New
AVAV Aerovironment Inc. 0.38% 9,793 $1.8M Add +5000.5%
SBUX Starbucks Corp. 0.38% 20,005 $1.8M Reduce -64.0%
IR Ingersoll-Rand Inc. 0.37% 22,178 $1.8M New
CIEN Ciena Corp. 0.37% 4,573 $1.8M Reduce -92.5%
ILMN Illumina Inc. 0.37% 14,283 $1.8M Reduce -51.8%
AXON Axon Enterprise Inc. 0.36% 4,066 $1.7M Reduce -65.6%
EGO Eldorado Gold Corp. 0.36% 50,241 $1.7M Add +470.9%
BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED 0.35% 22,757 $1.7M New
SAP Sap SE-Sponsored ADR 0.35% 9,618 $1.6M Reduce -67.8%
TW Tradeweb Markets Inc. Class A 0.34% 13,818 $1.6M New
FEZ State Street SPDR Euro Stoxx 0.34% 25,837 $1.6M New
ON On Semiconductor 0.33% 25,681 $1.6M Reduce -77.4%
PLTR Palantir Technologies Inc. Class A 0.33% 10,750 $1.6M New
AWK American Water Works Co. Inc. 0.32% 11,263 $1.5M Add +1055.2%
STX Seagate Technology Holdings 0.32% 3,853 $1.5M New
DASH DoorDash Inc. Class A 0.31% 9,943 $1.5M Add +728.6%
AA Alcoa Corp. 0.31% 22,325 $1.5M Add +252.7%
TTWO Take-Two Interactive Softwre 0.31% 7,454 $1.5M New
BBY Best Buy Co. Inc. 0.31% 22,682 $1.5M Add +138.2%
XPO Xpo Inc. 0.30% 7,460 $1.5M New
ALB Albemarle Corp. 0.30% 8,060 $1.4M Reduce -57.6%
KTOS Kratos Defense & Security 0.30% 20,479 $1.4M Add +654.3%
LOGI Logitech International-Reg 0.30% 15,777 $1.4M New

Show all 385 holdings

Options reported separately and not counted above: SPY calls ($339.4M), QQQ calls ($246.9M), SPY puts ($213.4M), GLD puts ($77.4M), CSCO calls ($63.5M), IWM calls ($61.4M), AMZN calls ($44.5M), SLV calls ($43.6M), IAU puts ($42.2M), NVDA calls ($41.4M), QQQ puts ($37.7M), AAPL calls ($35.5M), and 843 more.

Portfolio Sells Q4 2025 → Q1 2026
TER Teradyne Inc. Reduce -98.2% 0.17% −2.78
COIN Coinbase Global Inc. Class A Reduce -88.1% 0.55% −2.39
NKE Nike Inc. Class B Reduce -89.7% 0.47% −2.22
XYZ Block Inc. Reduce -95.1% 0.20% −1.99
BMY Bristol-Myers Squibb Co. Sold out 0.00% −1.97
SLV iShares Silver Trust Reduce -98.2% 0.08% −1.93
B Barrick Mining Corp. Reduce -98.9% 0.04% −1.84
LMT Lockheed Martin Corp. Sold out 0.00% −1.81
IGV iShares Expanded Tech-Softwa Reduce -93.8% 0.19% −1.77
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −1.55
KLAC KLA Corp. Reduce -96.4% 0.15% −1.50
GLW Corning Inc. Reduce -85.8% 1.24% −1.49
PAAS Pan American Silver Corp. Reduce -97.2% 0.09% −1.40
NEM Newmont Corp. Sold out 0.00% −1.29
MS Morgan Stanley Sold out 0.00% −1.26
WDC Western Digital Corp. Reduce -99.3% 0.03% −1.22
AU Anglogold Ashanti PLC Reduce -98.6% 0.04% −1.22
JNJ Johnson & Johnson Reduce -84.8% 0.68% −1.18
ACN Accenture PLC Class A Reduce -89.7% 0.21% −1.15
KGC Kinross Gold Corp. Sold out 0.00% −1.13
TXN Texas Instruments Inc. Sold out 0.00% −1.13
CIEN Ciena Corp. Reduce -92.5% 0.37% −1.09
PINS Pinterest Inc. Class A Sold out 0.00% −1.05
CNQ Canadian Natural Resources Sold out 0.00% −1.04
CCJ Cameco Corp. Sold out 0.00% −0.93
AMD Advanced Micro Devices Reduce -92.3% 0.15% −0.83
ARM Arm Holdings PLC-ADR Reduce -83.2% 0.75% −0.83
SOXX iShares Semiconductor ETF Sold out 0.00% −0.82
DOCS Doximity Inc. Class A Sold out 0.00% −0.78
GS Goldman Sachs Group Inc. Sold out 0.00% −0.66
CAR Avis Budget Group Inc. Sold out 0.00% −0.63
ELF Elf Beauty Inc. Reduce -96.5% 0.04% −0.59
SMCI Super Micro Computer Inc. Reduce -78.9% 0.30% −0.59
EPAM Epam Systems Inc. Reduce -91.6% 0.08% −0.58
HL Hecla Mining Co. Reduce -96.5% 0.04% −0.57
FND Floor & Decor Holdings Inc. Class A Sold out 0.00% −0.57
OKTA Okta Inc. Sold out 0.00% −0.53
RCI Rogers Communications Inc. Class B Reduce -99.5% 0.01% −0.53
BCE Bce Inc. Reduce -95.4% 0.06% −0.53
VEEV Veeva Systems Inc. Class A Reduce -96.9% 0.03% −0.52
KDP Keurig Dr Pepper Inc. Reduce -96.4% 0.04% −0.52
PODD Insulet Corp. Sold out 0.00% −0.51
KRE SS SPDR S&P Regional Bank Sold out 0.00% −0.50
ONON On Holding AG Class A Sold out 0.00% −0.46
GM General Motors Co. Sold out 0.00% −0.45
TPR Tapestry Inc. Reduce -92.8% 0.09% −0.45
VFC VF Corp. Reduce -89.1% 0.12% −0.45
CRM Salesforce Inc. Sold out 0.00% −0.43
MCD McDonald's Corp. Sold out 0.00% −0.43
OR Or Royalties Inc. Reduce -89.3% 0.13% −0.41

Portfolio Buys Q4 2025 → Q1 2026
IAU iShares Gold Trust New 2.32% +2.32
NOW ServiceNow Inc. Add +950.0% 2.18% +2.03
GLD SPDR Gold Shares Add +345.8% 2.21% +1.99
MSFT Microsoft Corp. New 1.80% +1.80
LYB Lyondellbasell Indu Class A Add +99.0% 1.87% +1.62
KR Kroger Co. New 1.47% +1.47
LULU Lululemon Athletica Inc. Add +442.4% 1.66% +1.46
GDX Vaneck Gold Miners ETF Add +160.8% 1.56% +1.29
MCK McKesson Corp. New 1.28% +1.28
XBI SS SPDR S&P Biotech ETF Add +1141.6% 1.24% +1.19
XRT SS SPDR S&P Retail ETF Add +872.4% 1.20% +1.14
MRNA Moderna Inc. Add +83.6% 1.34% +1.13
NXT Nextpower Inc. New 1.04% +1.04
XOP SS SPDR S&P Og Exp & Prod New 0.98% +0.98
XLE SS Energy Select Sector New 0.95% +0.95
BRK.B Berkshire Hathaway Inc. Class B New 0.90% +0.90
WLK Westlake Corp. New 0.88% +0.88
ANET Arista Networks Inc. New 0.88% +0.88
EL Estee Lauder Companies Class A New 0.85% +0.85
XLU St Sr Utl SL SE SPDR ETF-Usd Add +283.5% 0.95% +0.84
CRWD CrowdStrike Holdings Inc. Class A Add +70.1% 1.12% +0.73
VRTX Vertex Pharmaceuticals Inc. New 0.73% +0.73
EQIX Equinix Inc. Add +108.5% 0.86% +0.70
HOOD Robinhood Markets Inc. Class A New 0.70% +0.70
DLTR Dollar Tree Inc. New 0.68% +0.68
RBRK Rubrik Inc. Class A Add +204.3% 0.87% +0.66
TSLA Tesla Inc. New 0.64% +0.64
META Meta Platforms Inc. Class A Add +580.0% 0.69% +0.64
CPAY Corpay Inc. New 0.63% +0.63
TJX TJX Companies Inc. New 0.63% +0.63
TM Toyota Motor Corp. -Spon ADR New 0.61% +0.61
AVGO Broadcom Inc. New 0.60% +0.60
MRVL Marvell Technology Inc. Add +16.4% 0.92% +0.59
SU Suncor Energy Inc. Add +2923.2% 0.54% +0.54
PAYX Paychex Inc. New 0.52% +0.52
HEI Heico Corp. New 0.50% +0.50
CMG Chipotle Mexican Grill Inc. Add +177.2% 0.60% +0.48
COST Costco Wholesale Corp. New 0.48% +0.48
FFIV F5 Inc. New 0.48% +0.48
EOG EOG Resources Inc. New 0.46% +0.46
ATI Ati Inc. New 0.46% +0.46
GD General Dynamics Corp. New 0.43% +0.43
IOT Samsara Inc. Class A Add +3532.9% 0.43% +0.43
TSM Taiwan Semiconductor-SP ADR Add +264.8% 0.47% +0.41
GNRC Generac Holdings Inc. Add +137.5% 0.47% +0.40
HDV iShares Core High Dividend E New 0.40% +0.40
LVS Las Vegas Sands Corp. New 0.40% +0.40
AOS Smith (a.o.) Corp. New 0.39% +0.39
SPOT Spotify Technology SA New 0.39% +0.39
TLN Talen Energy Corp. New 0.38% +0.38

Options Activity Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US call Reduce -29.7% 521,900 $339.4M
QQQ Invesco QQQ Trust Series 1 call Add +1216.0% 427,700 $246.9M
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -27.6% 328,100 $213.4M
GLD SPDR Gold Shares put Reduce -89.5% 179,800 $77.4M
JPM JPMorgan Chase & Co. put Sold out 202,200 $65.2Mbefore exit
CSCO Cisco Systems Inc. call Reduce -1.1% 818,700 $63.5M
IWM iShares Russell 2000 ETF call Add +54.5% 247,600 $61.4M
SOXX iShares Semiconductor ETF put Sold out 183,800 $55.4Mbefore exit
TMO Thermo Fisher Scientific Inc. put Sold out 88,300 $51.2Mbefore exit
LRCX Lam Research Corp. put Sold out 297,600 $50.9Mbefore exit
AMZN Amazon.com Inc. call Add +12.2% 213,800 $44.5M
BX Blackstone Inc. call Sold out 284,800 $43.9Mbefore exit
SLV iShares Silver Trust call Add +1434.3% 639,800 $43.6M
IAU iShares Gold Trust put Reduce -79.9% 478,500 $42.2M
NEE Nextera Energy Inc. put Sold out 519,800 $41.7Mbefore exit
NVDA Nvidia Corp. call Add +4549.0% 237,100 $41.4M
QQQ Invesco QQQ Trust Series 1 put Add +326.8% 65,300 $37.7M
AMGN Amgen Inc. put Sold out 110,800 $36.3Mbefore exit
PANW Palo Alto Networks Inc. put Sold out 196,400 $36.2Mbefore exit
AAPL Apple Inc. call Reduce -32.4% 139,700 $35.5M
SLV iShares Silver Trust put Add +68.1% 516,500 $35.2M
BMY Bristol-Myers Squibb Co. put Add +130.4% 560,100 $34.0M
MSFT Microsoft Corp. put New 89,700 $33.2M
GDX Vaneck Gold Miners ETF put Add +696.3% 344,000 $31.6M
BRK.B Berkshire Hathaway Inc. Class B put Reduce -18.8% 63,700 $30.5M
HPQ HP Inc. call Sold out 1,320,600 $29.4Mbefore exit
EWC iShares MSCI Canada ETF call New 526,500 $28.8M
ROKU Roku Inc. put Sold out 262,500 $28.5Mbefore exit
APP AppLovin Corp. Class A put Sold out 42,000 $28.3Mbefore exit
ISRG Intuitive Surgical Inc. call Sold out 48,300 $27.4Mbefore exit
GEV GE Vernova Inc. call Add +520.0% 31,000 $27.1M
DIA SS SPDR Dow Jones Indus Avg call Sold out 55,600 $26.7Mbefore exit
UNP Union Pacific Corp. call Sold out 115,500 $26.7Mbefore exit
ATI Ati Inc. call Sold out 232,100 $26.6Mbefore exit
ARM Arm Holdings PLC-ADR put Reduce -48.4% 172,800 $26.1M
KKR KKR & Co. Inc. put Sold out 204,300 $26.0Mbefore exit
TER Teradyne Inc. put Reduce -67.4% 87,100 $25.8M
ORCL Oracle Corp. put Reduce -6.4% 173,600 $25.5M
ELV Elevance Health Inc. put Sold out 71,500 $25.1Mbefore exit
TPR Tapestry Inc. put Sold out 195,700 $25.0Mbefore exit
ROST Ross Stores Inc. call Sold out 134,900 $24.3Mbefore exit
TD Toronto-Dominion Bank call Add +3.5% 242,800 $22.7M
MU Micron Technology Inc. put Reduce -85.2% 66,900 $22.6M
IBKR Interactive Brokers Gro Class A call Sold out 347,800 $22.4Mbefore exit
LRCX Lam Research Corp. call Sold out 126,200 $21.6Mbefore exit
CRM Salesforce Inc. put Sold out 80,600 $21.4Mbefore exit
MKL Markel Group Inc. call Reduce -35.4% 10,600 $20.3M
ZM Zoom Communications Inc. call Sold out 234,300 $20.2Mbefore exit
GM General Motors Co. put Sold out 246,800 $20.1Mbefore exit
XOM Exxon Mobil Corp. call Reduce -54.9% 118,000 $20.0M

Showing the first 50 of 1,229.

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 420$642.1MMSFT, IAU, NFLX, GLD, ORCL
Q1 2026 385$476.2MIAU, GLD, NOW, LYB, MSFT
Q4 2025 350$976.2MTER, COIN, GLW, NKE, XYZ
Q3 2025 390$2.1BXBI, SPY, GDXJ, IGV, STX
Q2 2025 433$4.0BIGV, SMH, XLK, VOO, PWR
Q1 2025 541$4.5BGOOGL, TSLA, AVGO, ORCL, BP
Q4 2024 480$4.1BPLTR, CRM, GWW, NFLX, ORCL
Q3 2024 504$4.3BXLF, INTC, ASML, ITB, IYR
Q2 2024 451$3.4BVST, MU, XLF, NTAP, EL
Q1 2024 382$4.4BMU, SMCI, XLF, NVDA, IWM