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Twin Securities Portfolio holdings
AUM
$206M
1-Year Est. Return
77.79%
This Fund
S&P 500
This Quarter
Est. Return
+4.34%
1 Year Est. Return
+77.79%
3 Year Est. Return
+466.97%
5 Year Est. Return
+1,667.28%
10 Year Est. Return
+13,530.48%
AUM
$551M
AUM Growth
+$89.7M
(+19%)
Cap. Flow
+$98.9M
Cap. Flow
% of AUM
17.95%
Top 10 Holdings %
Top 10 Hldgs %
87.12%
Holding
35
New
14
Increased
5
Reduced
4
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VER
VEREIT, Inc.
VER
|
+$74.8M |
| 2 |
McKesson
MCK
|
+$67.4M |
| 3 |
Lamar Advertising Co
LAMR
|
+$41.2M |
| 4 |
Herc Holdings
HRI
|
+$33.3M |
| 5 |
Knowles
KN
|
+$31.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
COLE
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
|
+$98.3M |
| 2 |
APC
Anadarko Petroleum
APC
|
+$38M |
| 3 |
BKW
BURGER KING WORLDWIDE
BKW
|
+$24.9M |
| 4 |
MBIA
MBI
|
+$21.3M |
| 5 |
VPHM
VIROPHARMA INC
VPHM
|
+$14.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.24% |
| 2 | Industrials | 14.8% |
| 3 | Real Estate | 11.09% |
| 4 | Technology | 5.8% |
| 5 | Financials | 2.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
Thermo Fisher Scientific
TMO
$211B
| – | – |
-50,000
| Closed | -$5.57M |
|
|
27
Thermo Fisher Scientific
TMO
$211B
| – | – |
-120,772
| Closed | -$13.4M |
|
|
APC
28
DELISTED
Anadarko Petroleum
APC
| – | – |
-478,864
| Closed | -$38M |
|
|
BRE
29
DELISTED
BRE PROPERTIES INC CL A
BRE
| – | – |
-77,020
| Closed | -$4.21M |
|
|
PATH
30
DELISTED
NUPATHE INC COM STK
PATH
| – | – |
-541,831
| Closed | -$1.77M |
|
|
COLE
31
DELISTED
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
| – | – |
-6,999,857
| Closed | -$98.3M |
|
|
LIFE
32
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
| – | – |
-131,768
| Closed | -$9.99M |
|
|
HMA
33
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
| – | – |
-953,377
| Closed | -$12.5M |
|
|
VPHM
34
DELISTED
VIROPHARMA INC
VPHM
| – | – |
-297,908
| Closed | -$14.9M |
|
|
TWC
35
CALL
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| – | – |
-139,400
| Closed | -$18.9M |
|
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Twin Securities's Q1 2014 Portfolio in Review
As of Q1 2014, Twin Securities held 35 positions worth $551M, up 19% from $461M the previous quarter. Its ten largest holdings account for 87% of the portfolio.
Twin Securities deployed $98.9M of net new capital in Q1 2014, opening 14 new positions and adding to 5 existing holdings. Its largest new stake was McKesson: 385,623 shares worth $68.1M.
By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 5.6% a quarter earlier, followed by Industrials and Real Estate.
On the sell side, the largest reduction was BURGER KING WORLDWIDE, an estimated $24.9M trimmed.
- Twin Securities's largest Q1 2014 buy was McKesson: 385,623 shares worth $68.1M.
- Twin Securities added most to VEREIT, Inc. in Q1 2014, an estimated $74.8M increase.
- Twin Securities's biggest Q1 2014 reduction was BURGER KING WORLDWIDE, cutting an estimated $24.9M.
- Twin Securities fully exited COLE REAL ESTATE INVESTMENTS, INC COM in Q1 2014, selling an estimated $98.3M.
- Twin Securities's ten largest holdings make up 87% of its $551M portfolio in Q1 2014.
- Twin Securities opened 14 new positions and closed 12 in Q1 2014.
- Twin Securities's portfolio value rose 19% quarter-over-quarter to $551M.
Based on Twin Securities's 13F filing for Q1 2014, filed 14 May 2014.