Twin Tree Management's Top Investments: A Q4 2022 vs. Q1 2023 Comparison

Twin Tree Management is a New York-based hedge fund that manages approximately $4.2 billion in assets. As per the latest 13F regulatory filings, the fund has made some significant changes to its portfolio in the fourth quarter of 2022 and the first quarter of 2023.

Let's take a closer look at Twin Tree Management's top investments and how they have evolved over the last two quarters.

Top Holdings in Q4 2022

In the fourth quarter of 2022, Twin Tree Management's top holdings included SPDR S&P 500 ETF TR, INVESCO CAPITAL MANAGEMENT L, and VANECK ETF TRUST. The fund held 18,721,900 shares of SPDR S&P 500 ETF TR, which was valued at $7,159,816. It also held 4,756,100 put options of INVESCO CAPITAL MANAGEMENT L, which were valued at $1,266,454.

Twin Tree Management's top call option holding in Q4 2022 was 8,385,100 shares of SPDR S&P 500 ETF TR, which were valued at $3,206,713.

Top Holdings in Q1 2023

In the first quarter of 2023, Twin Tree Management increased its holdings of SPDR S&P 500 ETF TR call options to 14,734,900 shares, which were valued at $6,032,320.

The fund also significantly increased its holdings of SPDR GOLD TR put options to 13,112,500 shares, which were valued at $2,402,472.

Another noteworthy increase was in Twin Tree Management's holdings of INVESCO CAPITAL MANAGEMENT L call options, which rose from 3,324,100 shares in Q4 2022 to 3,109,300 shares in Q1 2023. The value of these holdings also rose from $885,141 in Q4 2022 to $997,867 in Q1 2023.

Important Transactions

One of the most significant transactions made by Twin Tree Management in Q1 2023 was the purchase of 11,981,000 call options of iShares Inc, which were valued at $328,039,000. The fund also purchased 10,985,700 shares of NVIDIA CORP call options, which were valued at $287,547,000.

On the other hand, Twin Tree Management sold its entire position of 3,438,800 put options of Shopify Inc, which were valued at $164,856,000.

Conclusion

As we can see, Twin Tree Management's portfolio underwent some significant changes in the last two quarters. The fund increased its holdings in some of its top investments while selling off others entirely. However, it is essential to note that 13F filings only provide a snapshot of a fund's investments at a specific point in time and do not represent their entire portfolio or investment strategy.

Investors should also conduct their due diligence and make their investment decisions based on a range of factors, including a fund's historical performance, investment strategy, and overall market conditions.