9AT: TWIN TREE MANAGEMENT, LP

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 03/02/2012
Other registrations (1)	Texas, Terminated, 03/21/2012
ADV Location	DALLAS, TX, United States
Contact Info	214 xxxxxxx

AUM^*	1,459,446,923 -83%
of that, discretionary	1,459,446,923 -83%
Number of Employees	8 -27%
of those in investment advisory functions	5 -38%
Private Fund GAV^*	1,459,446,923 -80%
Avg Account Size	486,482,308 -83%
SMA’s	No
Private Funds	3 1

Adviser Type

- Large advisory firm

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

	Count	GAV
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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 ARMISTICE CAPITAL LLC	Hedge Fund4.7b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.7b	AUM4.7b	#Funds3
Adviser LEADENHALL CAPITAL PARTNERS	Hedge Fund2.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.6b	AUM5.7b	#Funds12
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	AUM8.3b	#Funds9
Adviser SOUTHEASTERN ASSET MANAGEMENT INC.	Hedge Fund8.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV8.7m	AUM3.7b	#Funds1
Adviser SPX CAPITAL MANAGEMENT LLC	Hedge Fund2.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.8b	AUM350.0m	#Funds11
Adviser RIVERNORTH CAPITAL MANAGEMENT, LLC	Hedge Fund1.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.1b	AUM6.2b	#Funds5
Adviser ALPHASIMPLEX GROUP, LLC	Hedge Fund860.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV860.2m	AUM3.1b	#Funds2
Adviser AUREUS ASSET MANAGEMENT, LLC	Hedge Fund182.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV182.6m	AUM8.4b	#Funds4
Adviser EMPYREAN CAPITAL PARTNERS, LP	Hedge Fund5.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV5.0b	AUM5.0b	#Funds4
Adviser GLAZER CAPITAL, LLC.	Hedge Fund10.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV10.0b	AUM6.8b	#Funds4

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TRUST (CALL)	$ Position$339,412,460	% Position7.00%	$ Change-33.00%	# Change-30.00%
Stck Ticker46090E103	Stock NameINVESCO QQQ TRUST SERIES 1 (CALL)	$ Position$246,859,883	% Position5.00%	$ Change1136.00%	# Change1216.00%
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TRUST (PUT)	$ Position$213,376,563	% Position4.00%	$ Change-31.00%	# Change-28.00%
Stck Ticker78463V107	Stock NameSPDR GOLD TRUST (PUT)	$ Position$77,366,144	% Position2.00%	$ Change-89.00%	# Change-90.00%
Stck Ticker464285204	Stock NameISHARES GOLD TRUST (PUT)	$ Position$42,184,562	% Position1.00%	$ Change-78.00%	# Change-80.00%
Stck Ticker46428Q109	Stock NameISHARES SILVER TRUST (CALL)	$ Position$43,595,972	% Position1.00%	$ Change1523.00%	# Change1434.00%
Stck Ticker46428Q109	Stock NameISHARES SILVER TRUST (PUT)	$ Position$35,194,310	% Position1.00%	$ Change78.00%	# Change68.00%
Stck Ticker46090E103	Stock NameINVESCO QQQ TRUST SERIES 1 (PUT)	$ Position$37,689,854	% Position1.00%	$ Change301.00%	# Change327.00%
Stck Ticker67066G104	Stock NameNVIDIA CORP (CALL)	$ Position$41,350,239	% Position1.00%	$ Change4247.00%	# Change4549.00%
Stck Ticker594918104	Stock NameMICROSOFT CORPORATION (PUT)	$ Position$33,204,250	% Position1.00%	$ Change	# Change

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

TWIN TREE MANAGEMENT, LP

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

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TWIN TREE MANAGEMENT, LP TWIN TREE MANAGEMENT, LP

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

TWIN TREE MANAGEMENT, LP

TWIN TREE MANAGEMENT, LP