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Twin Securities Portfolio holdings

AUM $223M
1-Year Est. Return 91.15%
This Fund
S&P 500
This Quarter Est. Return
+12.28%
1 Year Est. Return
+91.15%
3 Year Est. Return
+506.28%
5 Year Est. Return
+1,602.72%
10 Year Est. Return
+13,240.38%
AUM
$461M
AUM Growth
+$105M
Cap. Flow
+$40.3M
Cap. Flow %
8.73%
Top 10 Hldgs %
79.34%
Holding
29
New
12
Increased
7
Reduced
2
Closed
7

Top Buys

Rank Stock Value
1
COLE
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
+$95.4M
2
HRI icon
Herc Holdings
HRI
+$43.4M
3
APC
Anadarko Petroleum
APC
+$35.6M
4
LNCO
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
+$33.2M
5
LAMR icon
Lamar Advertising Co
LAMR
+$19.2M

Top Sells

Rank Stock Value
1
ONXX
ONYX PHARMACEUTICALS INC
ONXX
+$93.3M
2
DELL
DELL INC
DELL
+$57.5M
3
ELN
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
+$53.8M
4
VER
VEREIT, Inc.
VER
+$45.1M
5
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$13.4M

Sector Composition

Rank Sector Weight
1 Real Estate 33.17%
2 Miscellaneous 21.46%
3 Industrials 11.3%
4 Energy 8.23%
5 Financials 7.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ONXX
26
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
– –
-748,948
Closed -$93.3M
ONXX
27
PUT
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
– –
-500
Closed -$62K
VVUS
28
DELISTED
Vivus Inc
VVUS
– –
-32,833
Closed -$3.05M
1
2

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Twin Securities's Q4 2013 Portfolio in Review

As of Q4 2013, Twin Securities held 29 positions worth $461M, up 30% from $356M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Twin Securities deployed $40.3M of net new capital in Q4 2013, opening 12 new positions and adding to 7 existing holdings. Its largest new stake was COLE REAL ESTATE INVESTMENTS, INC COM: 6,999,857 shares worth $98.3M.

By sector, the portfolio is most concentrated in Real Estate at 33% of assets, up from 21% a quarter earlier, followed by Miscellaneous and Industrials.

On the sell side, the largest reduction was VEREIT, Inc., an estimated $45.1M trimmed.

  • Twin Securities's largest Q4 2013 buy was COLE REAL ESTATE INVESTMENTS, INC COM: 6,999,857 shares worth $98.3M.
  • Twin Securities added most to Anadarko Petroleum in Q4 2013, an estimated $35.6M increase.
  • Twin Securities's biggest Q4 2013 reduction was VEREIT, Inc., cutting an estimated $45.1M.
  • Twin Securities fully exited ONYX PHARMACEUTICALS INC in Q4 2013, selling an estimated $93.3M.
  • Twin Securities's ten largest holdings make up 79% of its $461M portfolio in Q4 2013.
  • Twin Securities opened 12 new positions and closed 7 in Q4 2013.
  • Twin Securities's portfolio value rose 30% quarter-over-quarter to $461M.

Based on Twin Securities's 13F filing for Q4 2013, filed 13 Feb 2014.