9AT: TWIN TREE MANAGEMENT, LP

other names

TWIN TREE MANAGEMENT, LP

Adviser Profile

As of Date	03/31/2025
ADV Location	DALLAS, TX, United States
Adviser Type - Large advisory firm
Number of Employees	14 75%
of those in investment advisory functions	10 67%
Registration	SEC, Approved, 03/02/2012
Other registrations (1)	Texas, Terminated, 03/21/2012

AUM^*	7,393,800,899 -14%
of that, discretionary	7,393,800,899 28%
Private Fund GAV^*	7,403,989,232
Avg Account Size	1,232,300,150 -36%
SMA’s	No
Private Funds	4
Contact Info	214 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$7,403,989,232

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser ALPHASIMPLEX GROUP, LLC	Hedge Fund973.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV973.8m	AUM4.3b	#Funds2
Adviser WEISS ASSET MANAGEMENT	Hedge Fund10.7b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV10.7b	AUM10.7b	#Funds3
Adviser GLAZER CAPITAL, LLC.	Hedge Fund3.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.8b	AUM4.1b	#Funds4
Adviser SKYVIEW INVESTMENT ADVISORS, LLC	Hedge Fund139.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund425.0k	Other Fund-	Total Private Fund GAV140.0m	AUM6.9b	#Funds9
Adviser ROCK SPRINGS CAPITAL	Hedge Fund3.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.3b	AUM3.3b	#Funds6
Adviser KIRKOSWALD CAPITAL MANAGEMENT LIMITED	Hedge Fund437.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund159.9m	Total Private Fund GAV597.6m	AUM4.4b	#Funds9
Adviser EXCHANGE TRADED CONCEPTS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM23.0b	#Funds-
Adviser PENTWATER CAPITAL MANAGEMENT LP	Hedge Fund8.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV8.4b	AUM9.3b	#Funds20
Adviser AUREUS ASSET MANAGEMENT, LLC	Hedge Fund107.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV107.6m	AUM7.8b	#Funds3
Adviser VR ADVISORY SERVICES LTD.	Hedge Fund8.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV8.5b	AUM8.7b	#Funds6

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78463V107	Stock NameSPDR GOLD TR (PUT)	$ Position$680,939,838	% Position6.00%	$ Change-54.00%	# Change-59.00%
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TR (CALL)	$ Position$506,121,011	% Position4.00%	$ Change-64.00%	# Change-65.00%
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TR (PUT)	$ Position$308,909,752	% Position3.00%	$ Change-64.00%	# Change-64.00%
Stck Ticker464285204	Stock NameISHARES GOLD TR (PUT)	$ Position$193,631,031	% Position2.00%	$ Change-68.00%	# Change-71.00%
Stck Ticker007903107	Stock NameADVANCED MICRO DEVICES INC (PUT)	$ Position$57,994,529	% Position1.00%	$ Change-71.00%	# Change-78.00%
Stck Ticker02079K305	Stock NameALPHABET INC (CALL)	$ Position$85,355,100	% Position1.00%	$ Change23.00%	# Change-5.00%
Stck Ticker038222105	Stock NameAPPLIED MATLS INC (PUT)	$ Position$78,047,860	% Position1.00%	$ Change-42.00%	# Change-53.00%
Stck Ticker17275R102	Stock NameCISCO SYS INC (CALL)	$ Position$63,780,839	% Position1.00%	$ Change43.00%	# Change27.00%
Stck Ticker031162100	Stock NameAMGEN INC (CALL)	$ Position$100,058,666	% Position1.00%	$ Change-22.00%	# Change-33.00%
Stck Ticker92189F106	Stock NameVANECK ETF TRUST (CALL)	$ Position$79,354,401	% Position1.00%	$ Change-50.00%	# Change-56.00%

Brochure Summary

Overview

FIRM DESCRIPTION Twin Tree Management, L.P., a Texas limited partnership and private investment advisory firm, was formed in 2009. We provide investment management and other services with respect to our affiliated private investment funds (the “Funds”) and have full discretionary authority with respect to their investment decisions. Our investment advisory services are provided in accordance with the investment objectives and guidelines set forth in the applicable offering and governing documents. The information set forth in this brochure is qualified in its entirety by the applicable offering and governing documents. PRINCIPAL OWNERS The general partner of Twin Tree Management, L.P. is Twin Tree Capital Management, LLC, a Texas limited liability company, which is owned and controlled by Michael E. Presley. Mr. Presley is also principal owner and a limited partner of Twin Tree Management, L.P. TYPES OF ADVISORY SERVICES We provide investment management and other services to the Funds with respect to a relative value investment strategy that seeks to profit from perceived mispricings in the implied volatility

and correlation markets. Our investment advisory services involve a variety of derivative instruments including listed and over-the-counter options, variance swaps, volatility swaps, correlation swaps, convertible bonds, structured products, and a hedging policy with respect to underlying securities. We are responsible for investing and re-investing the capital of the Funds in securities, financial instruments and/or other assets in accordance with the investment objectives, policies and guidelines set forth in the applicable offering and governing documents. See Item 8 below. We tailor our advisory services to the individual needs and objectives of the Funds, and investors are not permitted to impose restrictions and/or limitations on the Funds’ investments and strategies. However, we have entered and may enter into side agreements and other arrangements with certain investors that alter or modify the terms of the interests held thereby. ASSETS UNDER MANAGEMENT As of December 31, 2023, we had approximately $8,633,164,520 in regulatory assets under management. All of these assets were managed on a discretionary basis.

TWIN TREE MANAGEMENT, LP

Adviser Profile

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Compensation Arrangments

Reported AUM

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Brochure Summary

Overview